Orosur Mining Intercepts High Grade Gold, Including 5.32m at 17.76g/t Au, in Colombia
November 14 2017 - 1:00AM
Business Wire
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% Zn
Since 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20171113006497/en/
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