Orosur Mining hails Pepas results and prepares for Argentine drilling

(Alliance News) - Orosur Mining Inc shares climbed on Tuesday as it reported further positive data from drilling at the Pepas gold prospect in Colombia.

The South America-focused minerals explorer and developer reported figures from assays for four more holes at the Pepas mineral resource estimate infill programme, located within the Anza gold project.

Results included 34.0 metres at 2.33 grams of gold per tonne, 61.3 metres at 3.36 grams and 71.9 metres at 6.13 grams.

Orosur aims to move Pepas to a mineral resource estimate by the end of the year.

The holes announced on Tuesday are designed to infill to the required spacing to allow an estimate to be calculated.

"Drilling continues to return thick sequences of high-grade gold mineralisation, starting from surface or near surface," Orosur Mining added.

The company is also developing the El Pantano project, which is an early-stage gold and silver exploration project in the Santa Cruz province of southern Argentina.

The firm has earned a 51% stake in the project under a joint venture agreement with Deseado Dorado SAS, and must spend a further USD2 million by mid-February 2027 to earn 100% ownership.

Orosur said it is now finalising drill contracts with a view to starting drilling in mid-October, which would be the first drill programme that has ever been undertaken anywhere on the property.

It said between 10 and 14 diamond holes are planned for a total of approximately 3000 metres.

"Pepas remains on track and the high bar set by the early holes continues to be cleared on a regular basis. In the meantime, we are excited to be getting close to opening a second drilling front on our El Pantano project in Argentina. Early stage, but this is elephant country, and we like what we have seen thus far," said Chief Executive Officer Brad George.

Shares in Orosur Mining were up 8.9% at 12.80 pence in London on Tuesday afternoon.

By Michael Hennessey, Alliance News reporter

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