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Assays from third hole (PEP014) received.

Composite intersection of 75.1m @ 5.58g/t Au from surface.

YouTube direct link to 3D Model

https://www.youtube.com/watch?v=QJu1nCMKlhE

Picture slowly beginning to emerge. But now as we start to step out, we will no doubt begin to discovery complexities. But that's why we are going slow and taking small steps.

https://x.com/OrosurM/status/1866725424975450132?t=qgfpwo8evduQ0I1IucOt4Q&s=19

In case anyone missed it…

$OMI.v

2 holes assays pending (PEP014/15)

1 hole underway (PEP016)

First 5 holes assayed so far:

150m - 3 g/t Au

77.3m - 7.68 g/t Au

66.75m - 5.64 g/t Au

80.5m - 3.05 g/t Au

35.5m - 2.12 g/t Au

Every hole = FROM SURFACE

PEP016 is very important because it is on a new section and will be a 160m long hole, drilling towards the known discovery section as seen in the image attached. If successful, this is the point where we will begin to see serious outside investment in the project.

Now that being said, I often get negatives from investors like “but it’s in Colombia”

In the 2001-2012 Gold Bull market, Colombia was one of the safest places in South America to invest your money in Gold Mining. Yes, more recently it has had its issues with environmentalism and crime.

BUT…

Major Gold investors like funds and producers take “long” views when investing and cycles can often move a decade at a time.

This discovery is so exceptional that it doesn’t matter what the present condition of Colombia is. All that matters is the gold is there and $OMI.v will be able to continue measuring exactly how much gold that is. While they do, they will deliver returns for shareholders.

@robert_ivanhoe @RobMcEwenMUX @Frank_Giustra knew throughout their careers, it was impossible to invest in the coziest of places at all times when it came to mining or natural resources in general.

But just because something is a little uncomfortable now, doesn’t mean a time won’t come in the future where all stars align, to enabling the building of a mine.

With just five holes complete, there is still a long way to go before a mine is built at PEPAS. But if Collective Mining ($CNL.TO) can become a $388m market cap company in a climate such as is present for Colombia. Then darn it, the sky is the limit for $OMI.V.

#Gold #MinTwit #TSX #TSXv #AIM #ASX #NewDiscovery

https://x.com/KilconaVC/status/1866544627903500577?t=4RjjAKC7nkSid-FMArmXXQ&s=19

I’m really excited for $OMI.v’s PEP016 Drill Hole. The pad is being built as we speak and the drill will begin turning in a day or two.

This hole is twice the length of the more recent holes drilled. It will be approximately 160m long and test outside of the known section of drilling so far. Expanding the inferred orebody significantly.

This hole could be the first hole where we see 150m+ intercept of 5-8 g/t Au.

The ground is soft as butter. The drills are doing 20m/day. Should take 1-2 days to build the pad. 8 days to drill, 1 day for transport core and 4 days for assays.

There will be a Christmas break, that will push this schedule into January. But I think by week 1-2 or January this hole is due. When it comes, the market will really start understanding how special that this discovery has the potential to be.

Could we have the next Collective Mining ($CNL.T)??!! I think so!!

#MinTwit #Gold #TSX #AIM

https://x.com/KilconaVC/status/1866205629670695201

And grade also flows back into capital cost.

Clearly 5g/t dirt contains 5x as much gold as 1g/t dirt. But we turn this backward and say an operation can produce the same amount of gold p.a from 1/5 the tonnes. Meaning the plant is 1/5 the size, only 1/5 as many trucks are required, 1/5 as much power and water, 1/5 the size of tailings dam etc etc.

https://x.com/OrosurM/status/1865121354565194073?t=UNWxkolRlIPVBZYSqCZ5FA&s=19

To calculate cost per ounce, we start with the cost per tonne, divide by grade in g/t and multiply by 31.

So as an absurdly simplistic example, lets say it costs $50 to mine and process a tonne of ore (not taking into account mining of waste)

If that ore is 1g/t, then 50÷1×31=$1550 per ounce cost

At 5g/t then 50÷5×31=$310 per ounce cost.

Grade, as they say, is king.

https://x.com/OrosurM/status/1865016012602773795

All of which does beg the question of why footwall tuff (footwall is geo speak for underneath - hanging wall is above) below the fault is not mineralised.

No reason for this other than the fault was reactivated post mineralisation and the bottom half of the deposit was shifted down or sideways somewhere. Absolutely no idea where, thats a problem for the lads a bit down the line.

https://x.com/OrosurM/status/1864578064702951891?t=Ig3MRiON3nsX8T1spVCxkA&s=19

As noted previously, Pepas is hosted in tuff. A tuff is a rock made from volcanic ash, thrown out of a volcano, which then settles when still hot and welds into a rock. Gold deposits can occur in all sorts of rocks, but a tuff is an attractive host as it is both porous and permeable (not the same thing). So gold bearing fluids come up from depth along fractures and then are able to penetrate far into the side walls of the surrounding rock, interact with other fluids and create very thick zones of mineralisation - far thicker than we might see in tighter lithologies.

These thicknesses and grades, at surface, are extraordinarily rare. Global average grade for open pit mining is now a touch over 1 g/t, so we are a bit ahead of the curve. It is however far too early to be speculating as there is as yet no evidence of size or scale, but it's a decent start.

https://x.com/OrosurM/status/1864574749206327699?t=0nTC_2aW834qnmcnaXxXYQ&s=19

In flat country such as Australia or El Pantano, where rigs are truck mounted, we tend to drill in nice straight parallel lines. This is as much because we can as a throw back to pre-computer age when we had to work in 2D with pencil and paper.

The rugged terrain of Anza means moving the rig is hard, so we tend to stay in the one place for a while and point the rig in different directions. Ok for the geos as they have 3D software, but doesnt really work well for an RNS or powerpoint presentation.

So every now and then we will try to put up a video such as this to show what is going on. Its not exact, but a bit easier to visualise.

Https://mcusercontent.com/d9ebd7c1aa0f3dbc5fab42eca/files/be070747-cb8e-750b-1cd9-4878b417f3d2/OrosurMiningInc._Research_Update_2December2024__FINAL_BG.01.pdf

The observant will note we are drilling in a reasonably small area at the moment. This is intentional - we have to know what it is before we can ask the question of how big it is. For that we need a few more pierce points into the basement fault.

Lil ol' Orosur doesnt have the financial capacity to be spraying "Hail Mary" holes in all directions. So we have to do it by the book - slow and steady.

https://x.com/OrosurM/status/1863499836181327875?t=Re8WkDhGM6Be8bTslScH7g&s=19

Assays from our first new hole at Pepas out just now.

Still some work to do to sort the orientation, but this gets us started https://www.londonstockexchange.com/news-article/OMI/colombia-update/16789459

https://x.com/OrosurM/status/1863478816120734104?t=FSIh2BU1ttsYOC4SDsQ5eg&s=19

A curious snippet of info for those who take an interest in the wider picture - Agnico became a 10% shareholder in Collective Mining a few weeks ago. Not widely publicised but instead buried in the labyrinthine Canadian regulatory system and the Washington DC SEC. They are of course still the largest shareholder in our neighbour at Anza, Royal Road Minerals.

This may suggest they have not left Colombia, they have just left Newmont, and can now act independently.

https://www.sec.gov/Archives/edgar/data/2809/000110465924118853/tm2428506d1_sc13g.htm

https://x.com/OrosurM/status/1862084590241788256

Deal finally done. "How hard could it be" is a phrase we wont use again, but got there in the end. Time to crack on.

https://x.com/OrosurM/status/1862067982165262355

Orosur Mining Inc. - Colombia Update

· Acquisition of Minera Monte Aguila S.A.S. successfully completed.

· Company has reassumed 100% ownership and operatorship of its flagship Anzá Gold Project in Colombia with no upfront payments

· Drilling at Pepas is progressing well with first hole completed

London, November 28, 2024. Orosur Mining Inc. ("Orosur" or the "Company") (TSXV/AIM:OMI) is pleased to announce that it has completed the acquisition ("Acquisition") of Minera Monte Aguila S.A.S.("MMA") as a result of which the Company now has 100% indirect ownership of the Company's flagship Anzá Gold Project ("Anzá Project" or the "Project") in Colombia.

About the Anzá Project

Anzá is a gold exploration project, comprising granted exploration licences and applications for exploration licences in the prolific Mid-Cauca belt of Colombia. Since September 2018, the Anzá Project was the subject of an Exploration Agreement with Venture Option with MMA. Since September 2020, MMA has been a 50/50 joint venture between Newmont Corporation ("Newmont") and Agnico Eagle Mines Limited ("Agnico").

The Project is located 50km west of Medellin and is easily accessible by all-weather roads and boasts excellent infrastructure including water, power, communications as well as a large exploration camp. Since the Company first acquired the Anzá Project in December 2014, almost 48,000m of drilling has been undertaken, mostly on the central APTA prospect where a high-grade body of gold mineralisation had been discovered. The most recent drilling activities were at Pepas in the north of the Anzá Project area where three holes returned excellent results, the best being 150.9m @ 3g/t Au from surface (hole PEP001, announced on September 6, 2022).

Terms of the Acquisition

Under a share purchase agreement (the "SPA"), between Orosur, Agnico, Newmont and certain of their respective subsidiaries, Orosur's wholly owned Canadian subsidiary, Waymar Resources Ltd. has acquired all of the issued shares of MMA resulting in Orosur holding 100% indirect ownership of the Project. The key terms of the Acquisition were announced on September 10th, 2024 and remain unchanged.

Drilling

As announced on November 21st, 2024, the Company has commenced drilling at Pepas ,with plans for a small program of six or seven holes for a total of roughly 800m. The first of these holes (PEP-012) has been completed with samples being submitted to an assay laboratory in Medellin on a gradual basis. First results are expected soon.

Orosur CEO Brad George commented:

"It is pleasing to finally be back in charge of our destiny. And with drilling already well underway, we are looking forward to a period of enhanced newsflow."

To explain the process.

The rig achieves about 20m per day. Core is brought down from the mountain to the APTA camp each day. Is laid out, marked up and photographed by the technical team and then mapped by the geo on duty - in this case young Hernan. Then taken to the core saws where it is cut length ways and broken into samples of roughly 1m each.

The assay process destroys the core, so we only send half, and keep half for future use. Each sample is given a meaningless number that bears no relationship to the hole or depth so the lab does not know where it is from - this is for added security and QAQC.

Every second day or third day, these will be taken to the laboratory outside Medellin for assay. The lab is exceptional in so far living up to its promise of 3-4 days turnaround and that does make life so much easier.

This lab only does fire assay so it's only gold. We may send off a few to Canada for other elements, but we felt speed was of the essence and so have gone with the Medellin lab.

There is however a 5g/t upper limit to the first fire assay, with anything over that having to go back in for an additional step (gravimetric finish) that may add a couple of days - slows things down, but the more of these the merrier.

Assays come back and the company geos carry out all the QAQC checks, reformat the random assay numbers back into holes and depth and bring it all together - takes a couple of days.

Once we have assays for a complete hole, all checks have been passed and the data are deemed to be reliable, they may be released to the market if considered material. Materiality is of course somewhat subjective but at the moment we are setting a low bar.

https://x.com/OrosurM/status/1861868257730601193?t=cjXQsWdLyqQzsWcJj_djvg&s=19

Also posted by Jambar

While walking to the rig at Pepas yesterday, the lads point out a nondescript cut of rather ordinary soil and saprolite that I would have walked past without a second glance - that is running +5g/t Au (previously announced). The more we look the more we find - it's a good problem to have, but does mean there is a lot more going on here than just the bit we are drilling.

But not a lot we can do about that at the moment - we need to get some runs on the board with drilling results before we have the luxury of testing some new things. That's for another day.

https://x.com/OrosurM/status/1861737026761937198

Bloody typical the rig is between holes the day the CEO shows up. Worth listening too, Brad talks over the video!

https://x.com/OrosurM/status/1861575619076661480?t=rUkLzMLWa9z1AfakxEOIHA&s=19