19th January 201712 Dec 2018 15:40
About Anzá
Anzá is located in the Western Cordillera, 50 km west of the city of Medellín, 50 km south, along the Cauca lineament, of Continental Gold’s high grade Buriticá gold project (4.7 Moz measured and indicated (“M&I”) resource, grading 11.4 g/t Au) and 70 km from Red Eagle’s San Ramón project (479Koz M&I resource, grading 3.5 g/t Au) which is a vein like gold deposit in a shear zone with a similar mineralization style as the APTA in a different geological environment.
As previously announced in October 2016, initial preliminary metallurgy and density test work were completed utilising a combination of gravity concentration, flotation and cyanidation processing, with average gold recoveries ranging from 95.9 – 96.1%. This is in line with the metallurgical recoveries of development projects and producing mines in the region.
The site has environmental permits enabling both underground and open-pit mining operations. The Anzá project includes two small underground gypsum mines, each of which also have environmental and mining permits granted by the Colombian authorities. Historically, the gypsum mines have been operated by a third-party contractor; Orosur is currently in the process of taking over operatorship. The gypsum permits can be readily expanded, enabling Orosur the ability to fast-track permitting for future gold mining operations.
Access to the project is via a paved road to the town of Anzá and a 17 km gravel road operable all year round. The gypsum mine has been in operation at the site since 1991. It has excellent infrastructure, with power grid, abundant water and mine facilities on site. The elevation ranges from 700 m to 2,000 m above sea level.
The APTA deposit is up to 200 m wide and at least 2.5 km long, with soil geochem showing gold content along the entire 7km Aragón fault. The deposit is open on strike, at surface and down-dip
The Anzá land package, which is wholly owned by Orosur, includes multiple additional highly prospective potential gold targets. In addition to the APTA, there is an extensive area of more than 100 km² open to exploration. Charrascala and Guaimarala are two of the most highly promising additional gold targets. At Charrascala, there are existing outcrops with gold and copper mineralization. Favourable topography, existing infrastructure and the existence of a wide low-grade gold envelope in the Anzá land package provide further exploration, development and mining upside, all with strong indications of the potential for significant by-product mineralization.
To see a full PDF of the release with images, click here.
Stock Option Exercise
The Company also announces that it has issued 341,667 common shares of no par value ("Common Shares") following the exercise of options on January 24th, 2017 by an option holder as follows:
Exercise Price
Sign In
Follow the stocks
