Last checked at Orosur are a South American Gold explorer and miner who 100% own the Anza Gold project in Western Columbia, with a strategic exploration alliance with Newmont Goldcorp in place.
London South East interviewed Brad George the new CEO from Perth, Western Australia before the most recent RNS announcement confirming that exploration funds had been received, with field planning underway and drilling planned to commence in November.
Brad explained that he joined the company in May and as expected became CEO in July. The company is transitioning from a previous gold mine in Uruguay which produced 1.5 million ounces of gold until 2018, to a new project in Columbia with 'quite exceptional' asset quality.
"There are very few gold mines in the world of similar potential, and the fact we have two of the top ten gold miners in the world involved in its development speaks to that potential." said Brad. "Its 50Km South of Buritica which has 10/11 million ounces of gold, very high grade, plus 10 grams. Anza is an exact analouge geologically, its the same structure, rocks , width and grade to Buritica. What we don't have yet is the same tonnes, so we need to prove the resource. "
The Exploration and Option Agreement with Newmont includes a three-phase earn-in structure allowing Newmont to earn up to a 75% ownership interest in the Anzá Project by spending a minimum of US$30.0 million in qualifying expenditures over twelve years, completing an NI 43-101 compliant feasibility study and making cash payments to Orosur equaling a total of US$4.0 million over Phases 1 and 2.
