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Orosur Mining PLC on Tuesday reported ‘highly encouraging’ gold assay results at its Pepas and El Cedro prospects in Colombia, part of the wholly-owned Anza Project. The Toronto-based mining firm targeting precious and battery metals acquired 100% of Anza from its former joint venture partner, Minera Monte Aguila, last November. Prior to that, part of the area was subject to ‘cursory’ exploration by Orosur’s fellow London listing, Anglo American PLC. Orosur is focused on the El Cedro, Pepas and APTA prospects at Anza. The company has drilled 48 holes at Pepas, which is north of the base camp at APTA, since taking over the project in November. The company aims to move Pepas to a mineral resource estimate by the end of 2025, it said. Recent drilling is to infill the required spacing for a confident MRE calculation. The results are ‘largely as expected in terms of grade distribution’, Orosur said, except for one drill hole, which ‘unexpectedly intersected an extremely high-grade vein’ at a 30-metre depth. At 47.25 metres, the same hole showed gold mineralisation of 15.25 grams per ton. Orosur noted that ‘a sampling bias’ from course gold in the soil could be at play, but after further testing, was ‘confident’ no such bias had an impact on results. The firm’s shares jumped 16% to 26.48 pence on Tuesday afternoon in London, and have multiplied over the past 12 months. According to Orosur, infill drilling at Pepas has progressed more quickly than expected and may be complete by late October. Following this, exploration will continue, either at Pepas or APTA. The company is currently finalising a metallurgical test plan for Pepas samples. Mapping and geological sampling are about 65% complete at El Cedro, Orosur said, with ‘highly encouraging’ results thus far. The gold miner noted ‘large areas’ with gold mineralisation of 0.3 grams per ton, and exceeding 1 gram per ton in some cases. Base metals may also be present, but require an assay sampling method which is not available in Colombia, according to Orosur, which means base metal results will not be ready for ‘several weeks’. Once sampling at El Cedro is complete, Orosur will consider whether to drill the area. Chief Executive Brad George commented: ‘The Anza Project continues to develop and broaden in scope. Pepas is progressing toward MRE as planned, but the results at El Cedro are showing this licence has much more to give’. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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