Last checked at 14 Nov 2017 07:00
Orosur Mining Inc. (“Orosur” or “the Company”) (TSX/AIM: OMI), a South America-focused gold producer, developer and explorer, is pleased to provide a preliminary update from its current drilling programme at its APTA target in the Company’s wholly-owned high-grade Anzá gold project located in the Mid Cauca Gold Belt in Colombia.
HIGHLIGHTS FROM MAP-54
5.47 g/t Au over 4.63m from 97.1m to 101.73m, including 771.3 ppm Cu and 1.44% Zn 1.68 g/t Au over 1.0m from 126.0m to 127.0m, including 193.2 ppm Cu and 1.22% Zn 17.76 g/t Au over 5.32m from 144.50m to 149.82m, including 4,724.7ppm Cu and 4.84 Zn 1.84 g/t Au over 9.28m from 149.82m to 159.1m, including 2,398.0 ppm Cu and 2.26% ZnSince mid-October, Orosur has drilled 3 holes (962.5m) of its planned 15,000m diamond drilling programme. Partial sampling, representing just 30% of the samples to be analyzed from the first 2 holes (MAP 54 & MAP 55), was sent to SGS Laboratory in Medellin for assaying. Assay results include a number of high grade gold intersect intervals as well as copper, zinc and other notable byproducts as summarized in the table below:
| Hole Number | From (m) | To (m) | Interval (m) | Au g/t | Cu ppm | Zn (%) | ||||||||||||||||||||
| MAP‐54 | 97.10 | 101.73 | 4.63 | 5.47 | 771.30 | 1.44 | ||||||||||||||||||||
| Including | 97.10 | 98.20 | 1.10 | 2.59 | 140.10 | 0.48 | ||||||||||||||||||||
| 98.20 | 99.50 | 1.30 | 3.67 | 424.00 | 0.75 | |||||||||||||||||||||
|
| 99.5 | 100.75 | 1.25 | 4.41 | 1,050.10 | 1.87 | ||||||||||||||||||||
| 100.75 | 101.73 | 0.98 | 12.43 | 1,584.90 | 2.90 | |||||||||||||||||||||
| MAP‐54 | 126.0 | 127.0 | 1.00 | 1.68 | 193.20 | 1.22 | ||||||||||||||||||||
| MAP‐54 | 144.5 | 149.82 | 5.32 | 17.76 | 4,724.70 | 4.84 | ||||||||||||||||||||
| including | 144.5 | 145.7 | 1.20 | 8.71 | 778.00 | 0.80 | ||||||||||||||||||||
| 145.7 | 146.7 | 1.00 | 37.96 | 575.10 | 0.70 | |||||||||||||||||||||
| 146.7 | 148.0 | 1.30 | 19.76 | 324.80 | 0.25 | |||||||||||||||||||||
| 148.0 | 148.87 | 0.87 | 17.63 | 4,531.50 | 7.56 | |||||||||||||||||||||
| 148.87 | 149.82 | 0.95 | 5.31 | 20,200.00 | 17.54 | |||||||||||||||||||||
| MAP‐54 | 149.82 | 159.1 | 9.28 | 1.84 | 2,398.00 | 2.26 | ||||||||||||||||||||
| including | 149.82 | 150.85 | 1.03 | 1.40 | 17,500 | 14.26 | ||||||||||||||||||||
| 150.85 | 151.90 | 1.05 | 1.43 | 39.50 | 0.045 | |||||||||||||||||||||
| 151.90 | 153.00 | 1.10 | 0.94 | 246.10 | 0.88 | |||||||||||||||||||||
| 153.00 | 154.10 | 1.10 | 3.19 | 2,777.80 | 1.84 | |||||||||||||||||||||
| 154.10 | 155.00 | 0.90 | 3.73 | 52.60 | 0.29 | |||||||||||||||||||||
| 155.00 | 156.00 | 1.00 | 1.79 | 306.40 | 0.99 | |||||||||||||||||||||
| 156.00 | 157.00 | 1.00 | 0.97 | 354.60 | 1.30 | |||||||||||||||||||||
| 157.00 | 158.00 | 1.00 | 0.92 | 79.90 | 0.24 | |||||||||||||||||||||
| 158.00 | 159.1 | 1.10 | 2.34 | 70.20 | 0.42 | |||||||||||||||||||||
The limited assays returned to date from Hole MAP-55 show interesting gold anomalies up to 0.26 g/t Au, which matches up with the gold bearing units identified in the area.
Ignacio Salazar, CEO of Orosur, said:
“These initial results are extremely encouraging, supporting the presence of high gold mineralization over significant intervals and increasing confidence in the mineral body beyond the 17,000m of previous drilling prior to the acquisition of the project by OMI.
“These results are merely the beginning of Orosur’s first drilling campaign at APTA. APTA mineralization remains open at depth and along strike.”
Quality Control and Reporting Protocols
This initial drill program recovered HQ core which was logged, split in half for sampling, with the remainder stored for reference in the secure core facility at Finca El Vergel, Anzá, Antioquia, Colombia. Samples are delivered to SGS lab, Medellín, Antioquia, Colombia (ISO/IEC 17025) for analysis. At the Laboratory, samples are analyzed for gold by traditional fire assay with atomic absorption finish, with those samples returning >5 g/t gold repeated using a 30g aliquot and gravimetric finish. All samples are also analyzed for multi-elements including silver, lead, copper and zinc by total digestion ICP.
Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards, duplicates, and blanks are added at the lab as well as standards, duplicates, and blanks submitted as unknowns by the Company every 10 samples.
Assays are reported as composited intervals using weight averages, with highly enriched zones reported separately. Assays are uncut at this time. Applicable true widths are determined by ongoing investigation of the continuity and geometry of zones, and are typically expected to be 65% to 85% of the reported core lengths.
Qualified Person
The technical information related to the current assets of Orosur Mining in this announcement has been reviewed and approved by independent Mining engineer Miguel Fuentealba, a qualified person as defined by National Instrument 43-101.
About Orosur Mining Inc.
Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a fully integrated gold producer, developer and explorer focused on identifying and advancing gold projects in South America. The Company operates the only producing gold mine in Uruguay (San Gregorio), and has assembled an exploration portfolio of high quality assets in Uruguay, Chile and Colombia.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Ignacio Salazar, Chief Executive Officer of the Company (responsible for arranging release of this announcement) on: +1 (778) 373-0100.
Forward Looking Statements
All statements, other than statements of historical fact, contained or incorporated by reference in this news release, including any information as to the future financial or operating performance of the Company, constitute "forward-looking statements" within the meaning of certain securities laws, including the "safe harbour" provisions of the Securities Act (Ontario) and the United States Private Securities Litigation Reform Act of 1995 and are based on expectations estimates and projections as of the date of this news release. There can be no assurance that such statements will prove to be accurate. Such statements are subject to significant risks and uncertainties, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements include, without limitation success of exploration activities; permitting time lines; the failure of plant; equipment or processes to operate as anticipated; accidents; labour disputes; requirements for additional capital title disputes or claims and limitations on insurance coverage. The Company disclaims any intention or obligation to update or revise any forward looking statements whether as a result of new information, future events and such forward-looking statements, except to the extent required by applicable law.
Orosur Mining IncIgnacio Salazar, +1-778-373-0100Chief Executive Officerinfo@orosur.caorCantor Fitzgerald Europe – Nomad & Joint BrokerDavid Porter/Keith Dowsing, +44 (0) 20 7894 7000orNumis Securities Limited – Joint BrokerJohn Prior / James Black / Paul Gillam, +44 (0) 20 7260 1000orFTI ConsultingBen Brewerton / Sara Powell / Emerson Clarke, +44 (0) 20 3727 1000
LEI: 213800CRYQM3M8G1OI19Classification 3.1: Additional regulated information required to be disclosed under the laws of a Member State
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