U.S. Markets open in 2 hrs 57 mins

Filing of NI 43-101 Technical Report on Colombian Anzá Project

MEDELLIN, Colombia--(BUSINESS WIRE)--

Orosur Mining Inc. (“Orosur” or “the Company”) (OMI.TO) (OMI.L) has filed a technical report prepared by Andes GMS SPA in accordance with National Instrument 43-101 Standards for Mineral Projects ("NI 43-101") on the Anzá gold exploration project (“Anzá”) in Colombia (the "Report"). To view the full report, please visit www.orosur.ca/operations/technical-reports.

Anzá is an advanced exploration project and the Report includes a review of the regional geology, local geology, types and degree of the mineralization, exploration history, metallurgical testing and drilling results and represents an update from the technical report prepared in May 2010 by Bargmann & Platten of Snowden Mining Industry Consultants.

OVERVIEW

  • Total project area of 105 km² (10,615 hectares) located 50km west of Medellin, Colombia with access via predominantly paved roads with a shorter gravel road leading immediately into the project area. The site has existing infrastructure including water, power, roads and a camp.
  • 100% owned with no option fees or commitments, and includes existing environmental and mining permits relating to two gypsum mines located on the property and mined since 1991 by a thrid party.
  • Located on the eastern side of the Cordillera Occidental of Colombia in the Metallogenic Belt of the Middle Cauca, which mainly hosts two types of gold mineralization: a porphyry style and/or an epithermal type with a strong relationship with the Cauca-Romeral fault zone, which constitutes a suture zone associated with the collision of the Choco Volcanic Arc. The most important gold mining districts of the country are located in this region.
  • Magnetometry, induced polarization, radiometry, soil and rock sampling surveys have all been completed leading to the identification of 5 initial targets within the property: APTA, Charrascala, Guaimarala, Jesuitas and La Cejita. APTA has been drilled and initial drilling has been conducted at Charrascala.
  • Initial metallurgical and rock density test work completed in mid-2016 provided average gold recoveries ranging from 95.9% – 96.1% utilising a combination of gravity concentration, flotation and cyanidation processing, which is comparable to the metallurgical recoveries of the development projects and producing mines in the region.
  • Historic diamond drilling of 17,409m consisting of 53 holes was completed during 2011 to 2012 by Waymar Resources, a company and assets acquired by Orosur in mid-2014.
  • This drilling confirmed that gold and sulphide mineralization are associated with a structurally controlled hydrothermal system (fault and breccia zones). Drilling also identified three units as carriers of gold mineralization: silicified matrix- supported breccia with pyrite / sphalerite / chalcopyrite disseminated in the matrix and veins; fault zones with similar sulphides; and laminated mudstone or tuff cut by quartz-sulphide veins.
  • Notable interscepts from the 2011 to 2012 drill campaign include:
Hole   From   To   Intercept   Au   Ag   Zn
#   m   m   m   g/t   g/t   %
MAP‐11   213.0   219.0   6.0   18.26   1.95   0.35
including   217.5   219.0   1.5   72.30   6.90   0.93
MAP‐20 145.0 186.0 41.0 3.85 1.39 1.25
including   171.3   177.0   5.7   19.84   3.94   1.66
MAP‐21 224.0 242.0 18.0 14.14 2.05 2.83
including 225.0 229.4 4.4 45.62 5.47 10.59
    252.0   253.0   1.0   10.85   1.80   0.67
MAP‐29 183.0 194.9 11.9 10.57 2.40 1.61
including   185.0   187.0   2.1   40.25   4.85   4.64
MAP‐33 157.1 179.5 22.4 10.42 1.87 1.56
including   165.0   170.8   5.8   29.49   3.37   2.81
MAP‐36 198.6 227.5 28.9 3.88 1.68 0.43
including   205.5   217.5   12.0   8.83   2.65   0.59
MAP‐38 123.4 124.5 1.1 15.40 3.60 1.94
172.0 212.5 40.5 14.09 3.82 1.95
including 179.5 186.0 6.5 70.99 6.34 0.12
including 184.6 186.0 1.4 176.00 15.20 0.39
including   202.0   205.4   3.4   20.89   9.71   4.75
MAP‐43 65.5 68.6 3.1 7.66 73.04 0.68
167.5 231.5 64.0 1.88 1.88 0.70
including   209.0   214.0   5.0   9.07   3.40   0.70
MAP‐47 105.0 118.3 13.3 2.24 316.25 1.00
including   106.0   110.5   4.5   4.69   768.89   2.34
MAP‐48 181.0 195.7 14.7 40.37 9.30 3.41
including 185.5 195.7 10.2 58.03 13.16 4.85
including   187.6   189.5   1.9   219.00   29.50   6.55
  • Orosur commenced its own diamond drilling programme in late 2017
  • Orosur completed 18 diamond drill holes totalling 6,314m at the APTA target, improving and validating the geological model. Drilling extended the mineralized zone a further 95m down dip, to a total depth of 400m.
  • Drilling to date has encountered a number of notable intercepts over 20 g/t Au, including:
Hole   From   To   Intercept   Au   Ag   Zn
#   m   m   m   g/t   g/t   %
MAP_11   217.5   219.0  

1.5

  72.30   6.90   0.93
MAP_20   172.3   175.5   3.2   22.28   4.55   1.98
Including   172.3   174.0   1.7   32.60   5.50   1.82
MAP_21 225.0 231.6 6.6 35.24 5.00 6.97
Including 226.3 228.0 1.7 61.40 8.20 4.03
Including   228.0   229.4   1.4   51.50   5.10   1.80
MAP_28   220.5   221.7   1.2   29.20   8.10   0.58
MAP_29 185.0 187.0 2.0 40.25 4.85 4.64
Including   186.0   187.0   1.0   54.20   6.00   3.03
MAP_33 166.5 170.8 4.3 37.09 3.99 2.93
Including   167.5   169.0   1.5   79.90   7.70   3.15
MAP_36   213.2   214.5   1.3   23.00   4.40   0.63
MAP_38 179.5 186.0 6.5 70.99 6.34 0.12
Including 181.0 182.5 1.5 99.90 7.50 0.03
Including 184.6 186.0 1.4 176.00 15.20 0.39
202.0 205.4 3.4 20.89 9.71 4.75
Including   203.5   204.5   1.0   28.30   12.50   5.85
MAP_48 187.6 194.0 6.4 91.62 20.28 7.52
Including 187.6 189.5 1.9 219.00 29.50 6.55
Including   190.5   191.5   1.0   89.10   15.20   16.25
MAP_51 201.6 203.3 1.7 37.00 5.40 13.80
    303.5   305.0   1.5   22.90   8.40   6.06
MAP_054 145.7 148.9 3.2 24.92 1.40 2.40
Including   145.7   146.7   1.0   37.96   1.30   0.70
MAP_062   237.7   238.50   0.80   25.84   7.40   0.07
MAP_070 183.0 184.0 1.0 23.66 3.60 0.04
257.0 259.0 2.0 22.04 4.65 4.23
Including 257.0 258.0 1.0 28.93 5.30 3.59
  • As part of this programme 5 holes, comprising 3,045m of diamond drilling, were completed at Charrascala, which tested the strong gold soil geochemical anomalies along an 800m north-south corridor. Drilling results included intersections of 3.43 g/t Au and 30.60 g/t Ag over 1.5m, and 2.62 g/t Au and 14.30 g/t Ag over 0.90m;
  • Exploration Agreement in place with Newmont Mining announced in late 2018.

Qualified Person

The Report has been prepared by or under the supervision of independent geologist Mauricio Rubio (AusIMM), a Qualified Person under NI 43-101.

Andes GMS SPA have conducted a site visit allowing it to audit the Company’s field procedures, sample handling and preparation techniques, analytical procedures, results and Quality Assessment / Quality Control (“QAQC”) systems (check assaying) that it implements. Andes confirms that Orosur has undertaken its exploration programmes using industry best practices.

About Orosur Mining Inc.

Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a precious metals developer and explorer focused on identifying and advancing gold projects in South America. The Company operates in Colombia and Uruguay.

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 Ryan Cohen, VP Corporate Development and Interim CFO of the Company (responsible for arranging release of this announcement on behalf of the Company) on: +1 (778) 373-0100.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190110005486/en/