Analyst Comment30 Oct 2025 11:14
Orosur Mining* (OMI LN) 23p, Mkt Cap £80m – Pepas MRE update as drilling gets underway in Argentina and additional porphyry identified at El Cedro
• Orosur provides an update on its ongoing gold exploration work in Colombia and Argentina.
• The Company reports three additional holes drilled for the Pepas MRE, with highlights:
o PEP065: 33.3m @ 2.84g/t Au from 31m
o PEP065B: 33.8m @ 2.79g/t Au from 26m
o PEP066 (met hole): 112m @ 5.25g/t Au from surface
• Hole PEP066 will enable more detailed metallurgical testing, drilled through the centre of the ore body for a representative material.
• Orosur is targeting a Pepas MRE by year end.
• El Cedro
• At the El Cedro porphyry project, which lies to the south of Pepas, geophysical and geochemical work has identified a large prospective gold/porphyry system.
• Soil sampling has been taken over 25m intervals along ridges and spurs, with gold assay results suggesting a large gold-bearing system.
• Management reports that anomalous geochemical results point to a zoned porphyry system, with soil samples returning >1g/t Au at times.
• A review of historical data suggests El Cedro may consist of multiple porphyry intrusions, with a second potential system now identified to the south.
• Orosur also notes potential for associated epithermal systems alongside the two porphyries, where high-grade rock chip samples have been recorded in veins.
• Orosur will conduct a wider mapping and soil sampling programme over the southern porphyry and a more detailed helicopter aeromagnetic and radiometric survey over the next two months.
• El Cedro drilling is targeted for 1Q26.
• El Pantano
• At El Pantano, Orosur’s 51% owned JV in Argentina, Orosur believes it has identified a epithermal gold system.
• Orosur has now built an exploration camp and a diamond drill rig is set to arrive on site this week, with drilling imminent.
• Orosur will drill a 3,000m diamond programme over sections of the 25km epithermal structure.
• Drilling is expected to be completed in January 2026, and is focused on gaining a better understanding of the vertical zonation of the system.
Conclusion: This is an exciting time for the now well-funded Orosur, with three drilling programmes across two continents. The Pepas MRE remains on track for year-end, which will open the door to economic studies and a path to gold production. Meanwhile, Orosur has now identified two porphyries at El Cedro, with believed associated epithermal vein systems. Drilling will begin in January. In Argentina, Orosur begins drilling 3,000m this week, with the programme expected to be completed in January.
To receive news directly register orosur@flagstaffcomms.com