Orosur Mining (TSXV:AIM) has released an update on the progress of its flagship Anzá Project in Colombia. This announcement follows the company’s acquisition of 100% ownership of the project through a Share Purchase Agreement (SPA) finalized in late November 2024.
The Anzá Project is located approximately 50 kilometers west of Medellín. The site benefits from year-round accessibility via all-weather roads and has strong infrastructure support, including access to water, electricity, communications, and a large exploration camp.
Acquisition Completion
The November 28 SPA saw Orosur Mining Inc. acquire the shares of its former joint venture partner, Minera Monte Aguila (MMA). This agreement solidified the company’s full control over the Anzá Project and its associated prospects, including the Pepas Prospect, where recent exploration has been focused.
Pepas Prospect Drilling Activities
Located over 10 kilometers north of the project’s central base at APTA, the Pepas Prospect has been a significant focus of exploration. Drilling resumed in mid-November 2024, immediately before the MMA acquisition was finalized. Initial drilling efforts aimed to build upon high-grade results from 2022, when MMA had drilled holes PEP001, PEP005, and PEP007.
The current drilling program began with hole PEP012, positioned to confirm these earlier findings. Subsequent holes—PEP013, PEP014, and PEP015—were rotated 51 degrees eastward from PEP012 to test a suspected SE-NW controlling geological trend.
Results and Observations
Holes PEP013 and PEP014 successfully intersected the expected basement fault at predicted depths. Both recorded substantial zones of high-grade gold mineralization above the fault, supporting the geological team’s hypotheses. Hole PEP015 was drilled 45 meters northwest of PEP014 with a similar azimuth and objectives.
Drilling of PEP015 encountered a thick layer of weathered material, including soils, saprolite, and faulted tuffs, before reaching mineralized rock at 23.5 meters downhole. The basement fault was reached at 63.7 meters. Preliminary analysis suggests the northwest end of the mineralized zone may be more structurally complex and exhibit slightly lower grades than the southeastern end.
The unmineralized surface material at PEP015 hints at the presence of a hanging wall fault system. This feature requires further investigation to understand its geological impact and potential implications for the project.
Ongoing and Future Drilling Plans
Hole PEP016, drilled southwest of the mineralized zone, aimed to test the basement fault at a deeper point and further examine hanging wall structures. Drilling has been completed, and samples are currently being processed for laboratory assays. Meanwhile, hole PEP017 was relocated southeast of PEP013 to explore down-dip extensions of the mineralized area.
Recent fundraising efforts have expanded the budget for the drilling campaign, allowing the original 800-meter program to be significantly extended. Drilling operations will pause for a short holiday break, with crews resuming activity in early 2025.
Orosur Mining’s full ownership of the project positions the company to drive exploration efforts independently, with an eye toward unlocking the Anzá Project’s full potential.
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
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