Analyst Comment28 May 2025 11:05
orosur mining* (omi ln) 9p, mkt cap £29m – progressing pepas with drilling, met-test work and preliminary economic assessment
• orosur report additional drill results from their pepas project in colombia.
• highlights from three holes at pepas include:
o pep033 - 21.3m @ 5.88 g/t au from surface
o pep034 - 59m @ 10.15 g/t au from 36m
o pep035 - 11.4m @ 2.71 g/t au from surface
• orosur is now conducting preliminary economic assessment of pepas, with geological modelling, hiring external consultants to model the pepas mineralisation.
• orosur does not intend to publish an mre at this stage or formal feasibility studies but will explore various preliminary technical studies.
• orosur has conducted metallurgical testwork on pepas drill core, which showed 88% recoveries from simple cyanide leaching at 120 micron grind.
pepas north
• additionally, the company reports two holes from pepas north, returning:
o pep036b: 40.5m at 0.62g/t au from surface (inc. 14m at 1.2g/t au)
o pep037: 3m at 0.65g/t au from surface and 14m at 0.32g/t au from 97m
• the pepas north holes were drilled as a scissor pair underneath a geochemical anomalism.
• they intersected mineralisation with distinct similarities to the lower grade halo zones around pepas to the south.
• as a result, orosur suggests these holes ‘may be marginal to a more mineralised system,’ with suggestions that the holes were drilled sub-parallel to the controlling strike.
• the company has drilled a third hole, pep038, collared orthogonal to the first two holes for structural and lithological information.
• additional surface sampling, airborne magnetics and geochemical analysis of the drill core will support further target delineation at pepas north.
el cedro
• to the south of pepas, orosur is conducting a large soil sampling programme.
• the programme has been hindered by heavy rains, but early assay results have shown a large-scale gold-in-soil anomaly, with some samples in excess of 1g/t au and 0.5% cu.
conclusion: orosur has been busy in colombia, stepping out to north pepas, completing encouraging met-test work showing 88% recoveries at co**** grind, and continuing infill drilling at the high-grade main zone. drilling at north pepas is believed to have intersected a halo zone of a more mineralised system, warranting further drilling. this will be supported by a comprehensive geophysical and geochemical programme. 3d modelling will support early resource definition programmes alongside preliminary economic assessments at pepas.
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