4th Feb 2025 17:01
(Alliance News) - Orosur Mining Inc shares jumped on Tuesday as it said its Anza gold project in Colombia is now "one of the most exciting exploration stories in the gold space" as it reported its latest drilling results.
Orosur shares closed up 16% at 7.10 pence in London on Tuesday.
The South America-focused minerals exploration company reported on assays from PEP019 through to PEP022 in the Pepas project, which is the northern extent of the Anza project in northwest Colombia.
It said the "exceptional results continue" at the site.
PEP022 reported an interval of 76.3 metres with 7.24 grams of gold per tonne. PEP021 had an interval of 107.1 metres with 6.22 grams of gold per tonne.
The industry standard for a "high grade" gold deposit is that it contains more than five grams of gold per tonne.
The company said it is "very encouraged" by the early results and will continue the drilling programme.
It said it will operate conservatively with only one drill rig to conserve its cash and personnel and allow examination of the area to the north.
Chief Executive Officer Brad George said: "In some nine weeks (including the Christmas break), and less than 1000m of drilling, we have moved Pepas from a concept to one of the most exciting exploration stories in the gold space.
"It is very early days, but the results obtained thus far, if continued, could see the project advance very quickly."
By Michael Hennessey, Alliance News reporter
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