Orosur Mining (AIM:OMI) said its first drill hole at the El Cedro prospect in Colombia, CED001, continues to show consistent gold mineralisation from surface and remains open at depth.
The TSX Venture and AIM-listed gold explorer returned a composite intersection of 267.4m at 0.65g/t gold from surface, including higher-grade sections of 46.4m at 1g/t from 19.2m, 28.25m at 1.01g/t from 118m, 22.2m at 1.01g/t from 225m and 2.15m at 3.89g/t from 232m.
El Cedro is a gold-copper porphyry cluster within Orosur's Anzá project in the Mid-Cauca gold belt west of Medellín, first identified through Anglo American reconnaissance work before Orosur began its first-ever drilling campaign there in August.
The hole was originally designed to reach a target depth of 500m but was prematurely terminated at 267m due to drill rig operational issues.
Orosur has discussed the problems with its drilling contractor and has now positioned a new hole, CED001A, alongside the original, with the first 260m to be drilled quickly and cheaply without core recovery before coring resumes to the 500m target.
Full multi-element assay results, which require ICP-MS analysis unavailable in Colombia and must be sent to laboratories elsewhere in North or South America, are expected in the coming weeks.
"These developments mark a real step forward, adding to our momentum," said chief executive Brad George, adding that CED001 "continues to deliver, providing evidence of a mineral system of substantial scale."
Separately, Orosur has completed the final draft of the Programa de Trabajos y Obras (Plan of Works), or PTO, for its Pepas deposit, a shallow, high-grade gold prospect at Anzá for which the company published a maiden mineral resource estimate in February.
The PTO is the document Colombia's Agencia Nacional de Mineria requires to begin the permitting and approval process for a mining operation, and is based on resources calculated under the CRIRSCO reporting standard, which the company said is largely compatible with the JORC and CIM codes used in its February resource estimate.
Because CRIRSCO is an advisory rather than regulatory body, the PTO is not compliant with NI43-101 rules, meaning its technical and commercial details cannot be made public.
Orosur can now begin consultation with the ANM to present the PTO for examination, identify any required modifications, and develop the social and environmental programmes that will underpin the permitting process.
George said the company is "moving into the pivotal approval and permitting process for the Pepas deposit, further enhancing the Company's potential."
