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Yahoo
05-08-2025
- Business
- Yahoo
Orosur Mining Inc Announces Infill Drilling Hits 104m @ 6.61g/t Au at Pepas
Assays from three more holes from the Pepas MRE infill program: PEP047 - 104m @ 6.61g/t Au from surface PEP048 - 32.3m @ 3.65g/t Au from surface PEP049 - 94.2m @ 3.74g/t from surface Soil sampling about to recommence at El Cedro LONDON, UK / / August 5, 2025 / Orosur Mining Inc. ("Orosur" or the "Company") (TSXV:OMI)(AIM:OMI), is pleased to announce an update on the progress of exploration activities at the Company's flagship, 100% owned, Anzá Gold Project ("Project") in Colombia. As announced on 14th July 2025, the Company has taken the formal decision to commence infill drilling at its Pepas gold prospect, with the target of moving Pepas to a NI43-101 compliant Mineral Resource Estimate (MRE) by the end of the year. The first several holes of this program (announced 17th July 2025), vindicated this decision by returning exceptional widths and grades, especially hole PEP045 which returned 62.3m @ 12.76g/t Au. A drill program has been designed in conjunction with external consultants to facilitate an MRE being calculated. This program has been designed with the multiple objectives of infilling previous drilling, expanding beyond current drilling to define the boundaries, and understanding the geological controls upon mineralisation and the variations in geology and grade across the deposit. Holes will be drilled in an order that attempts to address these issues concurrently. As a result of the shallow nature of mineralisation, holes are generally short, taking between three and four days to complete on average. When the Company reassumed control of the Project in December 2024, samples were shifted to a fire-assay laboratory facility in Medellin, that has consistently provided 3-4 days turnaround of assay results. The Company is thus currently averaging roughly one hole per week with only one rig - an exceptionally fast rate of progress by industry standards. These three holes announced today are a continuation of this infill program and have all returned exceptional results (most especially PEP047), with thick sequences of high-grade gold mineralisation commencing from surface. Hole Number From (m) To (m) Interval (m) Au (g/t) PEP047 0 104 104 6.61 including 5 41.6 36.6 10.23 including 83.05 98.45 15.4 10.3 PEP048 0 32.3 32.3 3.65 including 5 27.8 22.8 4.51 PEP049 0 94.2 94.2 3.74 including 0 6.65 6.65 7.27 including 17.85 40.35 22.5 5.61 including 61.55 82.15 20.6 5.04 Table 1. Latest drill Intercepts, Pepas Prospect Infill drilling is ongoing, but the recent holes are already beginning to provide greater understanding of the genesis of Pepas and, as importantly, grade distribution which will be vital for mine planning studies. While drilling continues, in the near term, the Company will soon begin to undertake additional studies on such issues as metallurgy, mining planning and logistics, so that Pepas can be advanced as quickly as possible post its maiden MRE. Figure 2. Plan of holes Figure 3. Section, PEP047 Figure 4. Section PEP048 and PEP049 El Cedro The El Cedro prospect is a large gold porphyry system, located toward the south of the Anzá project, on the same granted EL as the Pepas and APTA deposits. As previously announced (28th May 2025), the Company had commenced a large soil sampling program at El Cedro, designed to expand upon previous work by Anglo American and the Company's previous JV partner. This sampling program was roughly 1/3 complete when it had to be suspended due to road damage sustained from an unusually wet season in the region. Rains have now abated, and this road damage has been repaired such that Company geological crews will be returning to El Cedro this week to recommence this program. Orosur CEO Brad George commented: "The latest results at Pepas continue to impress. While size remains to be defined, the picture of Pepas as a highly lucrative mining proposition is rapidly solidifying. We are increasingly confident that there is a commercially viable opportunity at Pepas and so we will very soon commence non-drill related studies to begin the process of advancing Pepas toward development." Colombia - ANZÁ Project The Anzá Project is now 100% owned by the Company following completion of a Share Purchase Agreement ("SPA"), announced 28th November 2024, whereby the Company purchased all of the shares of its previous JV partner; Minera Monte Aguila ("MMA"). The Project, which is located 50km west of Medellin, is easily accessible and boasts excellent infrastructure including water, power and communications as well as a large exploration camp. From September 2018 to November 2024, the Anzá Project was under the control of its previous JV partner MMA, itself a 50/50 venture between the world's two largest gold miners, Agnico Eagle Mines and Newmont Mining. Prospects The Company is currently focussed on three prospects within the Anzá Project - Pepas, APTA and El Cedro. All three prospects are within the same granted exploration title that is broken into two, non-contiguous pieces (Figure 2). Drilling is currently being undertaken at the Pepas prospect in the northern extent of the Anzá Project (pre-acquisition) over 10km north of the central base camp at APTA. In parallel, mapping and sampling is being undertaken over the El Cedro porphyry system in the south of the project area. Figure 5. Main prospects, licences pre-MMA acquisition Holes Drilled post MMA Transaction 38 holes have been drilled at Pepas since the MMA Transaction in November 2024. Assay results are tabulated below. Hole Number From (m) To (m) Interval (m) Au (g/t) PEP012 0 66.75 66.75 5.64 PEP013 0 77.30 77.30 7.68 PEP014 0 75.1 75.1 5.58 PEP015 23.5 63.7 40.2 3.75 PEP016 61.6 105.3 43.7 3.13 PEP017 56.1 96.3 40.2 2.06 PEP018 0 54.1 54.1 6.01 PEP019 0 44.3 44.3 1.63 PEP020 0 54.65 54.65 1.94 PEP021 0 107.05 107.05 6.22 PEP022 0 76.3 76.3 7.24 PEP023 0 15 15 1.7 PEP024 9.24 15.6 6.35 1.99 PEP025 0 10.1 10.1 1.45 16.5 79 62.5 5.4 PEP026 0 14.8 14.8 0.57 43.6 72 28.4 2.52 PEP027 1 80.15 79.15 2.0 PEP028 29.5 60.85 31.35 1.61 PEP029 0 30.7 30.7 0.31 PEP030 0 77.9 77.9 0.32 115.6 122.6 7 0.31 PEP031B 28.15 41.1 12.95 0.73 74.1 95.9 20.8 0.3 PEP032 0 92 92 1.68 PEP033 0 21.3 21.3 5.88 PEP034 36 95 59 10.15 PEP035 0 11.4 11.4 2.71 PEP036B 0 40.45 40.45 0.62 PEP037 0 3 3 0.65 PEP038 0 16.8 16.8 0.68 PEP039 No significant intersections PEP040 0 10.25 10.25 1.35 PEP041 34.35 66.1 31.75 2.01 PEP042 104.8 107.55 2.75 1.41 116.45 119.7 3.25 4.89 PEP043 No significant intersections PEP044 5.8 44.3 38.5 6.01 PEP045 9.5 71.8 62.3 12.76 PEP046 0 53.2 53.2 3.36 PEP047 0 104 104 6.61 PEP048 0 32.3 32.3 3.65 PEP049 0 94.2 94.2 3.74 Table 2. Results to date, post MMA Transaction For further information, visit follow on X @orosurm or please contact: Orosur Mining IncLouis Castro, Chairman,Brad George, CEOinfo@ +1 (778) 373-0100 SP Angel Corporate Finance LLP - Nomad & Joint BrokerJeff Keating / Jen Clarke / Devik MehtaTel: +44 (0) 20 3470 0470 Turner Pope Investments (TPI) Ltd - Joint BrokerAndy Thacker/James PopeTel: +44 (0)20 3657 0050 Flagstaff Communications and Investor CommunicationsTim ThompsonMark EdwardsFergus Mellonorosur@ +44 (0)207 129 1474 The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Drill Hole Details - Pepas prospect 2022/2024 Programme* Hole ID Easting (m) Northing (m) Elevation asl (m) Dip (°) Azimuth (°) PEP-001 403384 705000 1001 -50 150 PEP-002 403384 705000 1001 -60 290 PEP-003 403240 705142 1001 -49.60 95.2 PEP-004 403508 705671 838 -59.8 99.8 PEP-005 403373 704990 1008 -49.8 94.6 PEP-007 403374 704990 1008 -69.9 170 PEP-008 403232 704803 971 -50 60 PEP-009 403032 705057 1055 -50 80 PEP-010 403375 705106 982 -50.31 190.4 PEP-011 403573 704939 1001 -50.3 255 PEP-012 403415 704890 997 -56 352 PEP-013 403413 704887 997 -50 43 PEP-014 403400 704910 1007 -50 43 PEP-015 403375 704938 1017 -50 43 PEP-016 403326 704912 999 -50 43 PEP-017 403365 704848 976 -40 47 PEP-018 403345 704851 977 -45 43 PEP-019 403446 704890 991 -45 43 PEP-020 403446 704890 991 -75 43 PEP-021 403424 704935 1012 -62 223 PEP-022 403424 704935 1012 -42 223 PEP-023 403245 704927 969 -50 43 PEP-024 403245 704927 969 -78 43 PEP-025 403369 704888 1001 -45 43 PEP-026 403339 704955 1008 -63 50 PEP-027 403468 704909 1003 -46 228 PEP-028 403398 704957 1012 -58 223 PEP-029 403311 705018 1011 -50 50 PEP-030 403311 705018 1011 -50 000 PEP-031B 403486 704901 998 -52 220 PEP-032 403431 704861 982 -60 15 PEP-033 403431 704861 982 -65 100 PEP-034 403431 704861 982 -45 315 PEP-035 403369 704882 996 -45 223 PEP-036 403311 705152 989 -45 30 PEP-037 403354 705227 958 -50 210 PEP-038 403332 705219 967 -45 128 PEP-039 403411 704798 957 -45 73 PEP-040 403369 704882 995 -80 212 PEP-041 403373 704936 1008 -50 3 PEP-042 403396 705038 716 -50 82 PEP-043 403298 704942 981 -50 43 PEP-044 403402 704948 1011 -62 33 PEP-045 403406 704949 1011 -60 223 PEP-046 403420 704933 1007 -53 43 PEP-047 403414 704927 1008 -74 223 PEP-048 403448 704922 1005 -54 043 PEP-049 403447 704920 1005 -55 223 * Coordinates WGS84, UTM Zone 18 About Orosur Mining Inc. Orosur Mining Inc. (TSXV:OMI)(AIM:OMI) is a minerals explorer and developer currently operating in Colombia, Argentina and Nigeria. About the Anzá Project Anzá is a gold exploration project, comprising three exploration licences, and a large number of licence applications, totalling 399km2, in the prolific Mid-Cauca belt of Colombia. The Anzá Project is currently wholly owned by Orosur via its subsidiaries, Minera Anzá S.A. and Minera Monte Aquila S.A.S. The project is located 50km west of Medellin and is easily accessible by all-weather roads and boasts excellent infrastructure including water, power, communications and large exploration camp. Qualified Persons Statement The information in this news release was compiled, reviewed, verified and approved by Mr. Brad George, BSc Hons (Geology and Geophysics), MBA, Member of the Australian Institute of Geoscientists (MAIG), CEO of Orosur Mining Inc. and a qualified person as defined by National Instrument 43-101. Orosur Mining Inc. staff follow standard operating and quality assurance procedures to ensure that sampling techniques and sample results meet international reporting standards. Drill core is split in half over widths that vary between 0.3m and 2m, depending upon the geological domain. One half is kept on site in the Minera Anzá core storage facility, with the other sent for assay. Industry standard QAQC protocols are put in place with approximately 10% of total submitted samples being blanks, repeats or Certified Reference Materials (CRMs). Samples for holes PEP-001 to PEP-011 were sent to the Medellin preparation facility of ALS Colombia Ltd, and then to the ISO 9001 certified ALS Chemex laboratory in Lima, Peru. Samples from PEP-012 onwards are sent to Medellin laboratory of Actlabs for preparation and assay. 30 gram nominal weight samples are then subject to fire assay and AAS analysis for gold with gravimetric re-finish for overlimit assays of >5 g/t. ICP-MS Ultra-Trace level multi-element four-acid digest analyses may also undertaken for such elements as silver, copper, lead and zinc, etc. Gold intersections are reported using a lower cut-off of 0.3g/t Au over 3m. Intersections are quoted as downhole thicknesses. True thicknesses are unknown. Forward Looking Statements All statements, other than statements of historical fact, contained in this news release constitute "forward looking statements" within the meaning of applicable securities laws, including but not limited to the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and are based on expectations estimates and projections as of the date of this news release. Forward-looking statements include, without limitation, the continuing focus on the Pepas prospect, the exploration plans in Colombia and the funding of those plans, and other events or conditions that may occur in the future. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such forward-looking statements. Such statements are subject to significant risks and uncertainties including, but not limited to, those described in the Section "Risks Factors" of the Company's MD&A for the year ended May 31, 2024. The Company's continuance as a going concern is dependent upon its ability to obtain adequate financing, to reach profitable levels of operations and to reach a satisfactory closure of the Creditor´s Agreement in Uruguay. These material uncertainties may cast significant doubt upon the Company's ability to realize its assets and discharge its liabilities in the normal course of business and accordingly the appropriateness of the use of accounting principles applicable to a going concern. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events and such forward-looking statements, except to the extent required by applicable law. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ or visit SOURCE: Orosur Mining Inc View the original press release on ACCESS Newswire Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
05-08-2025
- Business
- Yahoo
Orosur Mining Inc Announces Infill Drilling Hits 104m @ 6.61g/t Au at Pepas
Assays from three more holes from the Pepas MRE infill program: PEP047 - 104m @ 6.61g/t Au from surface PEP048 - 32.3m @ 3.65g/t Au from surface PEP049 - 94.2m @ 3.74g/t from surface Soil sampling about to recommence at El Cedro LONDON, UK / / August 5, 2025 / Orosur Mining Inc. ("Orosur" or the "Company") (TSXV:OMI)(AIM:OMI), is pleased to announce an update on the progress of exploration activities at the Company's flagship, 100% owned, Anzá Gold Project ("Project") in Colombia. As announced on 14th July 2025, the Company has taken the formal decision to commence infill drilling at its Pepas gold prospect, with the target of moving Pepas to a NI43-101 compliant Mineral Resource Estimate (MRE) by the end of the year. The first several holes of this program (announced 17th July 2025), vindicated this decision by returning exceptional widths and grades, especially hole PEP045 which returned 62.3m @ 12.76g/t Au. A drill program has been designed in conjunction with external consultants to facilitate an MRE being calculated. This program has been designed with the multiple objectives of infilling previous drilling, expanding beyond current drilling to define the boundaries, and understanding the geological controls upon mineralisation and the variations in geology and grade across the deposit. Holes will be drilled in an order that attempts to address these issues concurrently. As a result of the shallow nature of mineralisation, holes are generally short, taking between three and four days to complete on average. When the Company reassumed control of the Project in December 2024, samples were shifted to a fire-assay laboratory facility in Medellin, that has consistently provided 3-4 days turnaround of assay results. The Company is thus currently averaging roughly one hole per week with only one rig - an exceptionally fast rate of progress by industry standards. These three holes announced today are a continuation of this infill program and have all returned exceptional results (most especially PEP047), with thick sequences of high-grade gold mineralisation commencing from surface. Hole Number From (m) To (m) Interval (m) Au (g/t) PEP047 0 104 104 6.61 including 5 41.6 36.6 10.23 including 83.05 98.45 15.4 10.3 PEP048 0 32.3 32.3 3.65 including 5 27.8 22.8 4.51 PEP049 0 94.2 94.2 3.74 including 0 6.65 6.65 7.27 including 17.85 40.35 22.5 5.61 including 61.55 82.15 20.6 5.04 Table 1. Latest drill Intercepts, Pepas Prospect Infill drilling is ongoing, but the recent holes are already beginning to provide greater understanding of the genesis of Pepas and, as importantly, grade distribution which will be vital for mine planning studies. While drilling continues, in the near term, the Company will soon begin to undertake additional studies on such issues as metallurgy, mining planning and logistics, so that Pepas can be advanced as quickly as possible post its maiden MRE. Figure 2. Plan of holes Figure 3. Section, PEP047 Figure 4. Section PEP048 and PEP049 El Cedro The El Cedro prospect is a large gold porphyry system, located toward the south of the Anzá project, on the same granted EL as the Pepas and APTA deposits. As previously announced (28th May 2025), the Company had commenced a large soil sampling program at El Cedro, designed to expand upon previous work by Anglo American and the Company's previous JV partner. This sampling program was roughly 1/3 complete when it had to be suspended due to road damage sustained from an unusually wet season in the region. Rains have now abated, and this road damage has been repaired such that Company geological crews will be returning to El Cedro this week to recommence this program. Orosur CEO Brad George commented: "The latest results at Pepas continue to impress. While size remains to be defined, the picture of Pepas as a highly lucrative mining proposition is rapidly solidifying. We are increasingly confident that there is a commercially viable opportunity at Pepas and so we will very soon commence non-drill related studies to begin the process of advancing Pepas toward development." Colombia - ANZÁ Project The Anzá Project is now 100% owned by the Company following completion of a Share Purchase Agreement ("SPA"), announced 28th November 2024, whereby the Company purchased all of the shares of its previous JV partner; Minera Monte Aguila ("MMA"). The Project, which is located 50km west of Medellin, is easily accessible and boasts excellent infrastructure including water, power and communications as well as a large exploration camp. From September 2018 to November 2024, the Anzá Project was under the control of its previous JV partner MMA, itself a 50/50 venture between the world's two largest gold miners, Agnico Eagle Mines and Newmont Mining. Prospects The Company is currently focussed on three prospects within the Anzá Project - Pepas, APTA and El Cedro. All three prospects are within the same granted exploration title that is broken into two, non-contiguous pieces (Figure 2). Drilling is currently being undertaken at the Pepas prospect in the northern extent of the Anzá Project (pre-acquisition) over 10km north of the central base camp at APTA. In parallel, mapping and sampling is being undertaken over the El Cedro porphyry system in the south of the project area. Figure 5. Main prospects, licences pre-MMA acquisition Holes Drilled post MMA Transaction 38 holes have been drilled at Pepas since the MMA Transaction in November 2024. Assay results are tabulated below. Hole Number From (m) To (m) Interval (m) Au (g/t) PEP012 0 66.75 66.75 5.64 PEP013 0 77.30 77.30 7.68 PEP014 0 75.1 75.1 5.58 PEP015 23.5 63.7 40.2 3.75 PEP016 61.6 105.3 43.7 3.13 PEP017 56.1 96.3 40.2 2.06 PEP018 0 54.1 54.1 6.01 PEP019 0 44.3 44.3 1.63 PEP020 0 54.65 54.65 1.94 PEP021 0 107.05 107.05 6.22 PEP022 0 76.3 76.3 7.24 PEP023 0 15 15 1.7 PEP024 9.24 15.6 6.35 1.99 PEP025 0 10.1 10.1 1.45 16.5 79 62.5 5.4 PEP026 0 14.8 14.8 0.57 43.6 72 28.4 2.52 PEP027 1 80.15 79.15 2.0 PEP028 29.5 60.85 31.35 1.61 PEP029 0 30.7 30.7 0.31 PEP030 0 77.9 77.9 0.32 115.6 122.6 7 0.31 PEP031B 28.15 41.1 12.95 0.73 74.1 95.9 20.8 0.3 PEP032 0 92 92 1.68 PEP033 0 21.3 21.3 5.88 PEP034 36 95 59 10.15 PEP035 0 11.4 11.4 2.71 PEP036B 0 40.45 40.45 0.62 PEP037 0 3 3 0.65 PEP038 0 16.8 16.8 0.68 PEP039 No significant intersections PEP040 0 10.25 10.25 1.35 PEP041 34.35 66.1 31.75 2.01 PEP042 104.8 107.55 2.75 1.41 116.45 119.7 3.25 4.89 PEP043 No significant intersections PEP044 5.8 44.3 38.5 6.01 PEP045 9.5 71.8 62.3 12.76 PEP046 0 53.2 53.2 3.36 PEP047 0 104 104 6.61 PEP048 0 32.3 32.3 3.65 PEP049 0 94.2 94.2 3.74 Table 2. Results to date, post MMA Transaction For further information, visit follow on X @orosurm or please contact: Orosur Mining IncLouis Castro, Chairman,Brad George, CEOinfo@ +1 (778) 373-0100 SP Angel Corporate Finance LLP - Nomad & Joint BrokerJeff Keating / Jen Clarke / Devik MehtaTel: +44 (0) 20 3470 0470 Turner Pope Investments (TPI) Ltd - Joint BrokerAndy Thacker/James PopeTel: +44 (0)20 3657 0050 Flagstaff Communications and Investor CommunicationsTim ThompsonMark EdwardsFergus Mellonorosur@ +44 (0)207 129 1474 The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Drill Hole Details - Pepas prospect 2022/2024 Programme* Hole ID Easting (m) Northing (m) Elevation asl (m) Dip (°) Azimuth (°) PEP-001 403384 705000 1001 -50 150 PEP-002 403384 705000 1001 -60 290 PEP-003 403240 705142 1001 -49.60 95.2 PEP-004 403508 705671 838 -59.8 99.8 PEP-005 403373 704990 1008 -49.8 94.6 PEP-007 403374 704990 1008 -69.9 170 PEP-008 403232 704803 971 -50 60 PEP-009 403032 705057 1055 -50 80 PEP-010 403375 705106 982 -50.31 190.4 PEP-011 403573 704939 1001 -50.3 255 PEP-012 403415 704890 997 -56 352 PEP-013 403413 704887 997 -50 43 PEP-014 403400 704910 1007 -50 43 PEP-015 403375 704938 1017 -50 43 PEP-016 403326 704912 999 -50 43 PEP-017 403365 704848 976 -40 47 PEP-018 403345 704851 977 -45 43 PEP-019 403446 704890 991 -45 43 PEP-020 403446 704890 991 -75 43 PEP-021 403424 704935 1012 -62 223 PEP-022 403424 704935 1012 -42 223 PEP-023 403245 704927 969 -50 43 PEP-024 403245 704927 969 -78 43 PEP-025 403369 704888 1001 -45 43 PEP-026 403339 704955 1008 -63 50 PEP-027 403468 704909 1003 -46 228 PEP-028 403398 704957 1012 -58 223 PEP-029 403311 705018 1011 -50 50 PEP-030 403311 705018 1011 -50 000 PEP-031B 403486 704901 998 -52 220 PEP-032 403431 704861 982 -60 15 PEP-033 403431 704861 982 -65 100 PEP-034 403431 704861 982 -45 315 PEP-035 403369 704882 996 -45 223 PEP-036 403311 705152 989 -45 30 PEP-037 403354 705227 958 -50 210 PEP-038 403332 705219 967 -45 128 PEP-039 403411 704798 957 -45 73 PEP-040 403369 704882 995 -80 212 PEP-041 403373 704936 1008 -50 3 PEP-042 403396 705038 716 -50 82 PEP-043 403298 704942 981 -50 43 PEP-044 403402 704948 1011 -62 33 PEP-045 403406 704949 1011 -60 223 PEP-046 403420 704933 1007 -53 43 PEP-047 403414 704927 1008 -74 223 PEP-048 403448 704922 1005 -54 043 PEP-049 403447 704920 1005 -55 223 * Coordinates WGS84, UTM Zone 18 About Orosur Mining Inc. Orosur Mining Inc. (TSXV:OMI)(AIM:OMI) is a minerals explorer and developer currently operating in Colombia, Argentina and Nigeria. About the Anzá Project Anzá is a gold exploration project, comprising three exploration licences, and a large number of licence applications, totalling 399km2, in the prolific Mid-Cauca belt of Colombia. The Anzá Project is currently wholly owned by Orosur via its subsidiaries, Minera Anzá S.A. and Minera Monte Aquila S.A.S. The project is located 50km west of Medellin and is easily accessible by all-weather roads and boasts excellent infrastructure including water, power, communications and large exploration camp. Qualified Persons Statement The information in this news release was compiled, reviewed, verified and approved by Mr. Brad George, BSc Hons (Geology and Geophysics), MBA, Member of the Australian Institute of Geoscientists (MAIG), CEO of Orosur Mining Inc. and a qualified person as defined by National Instrument 43-101. Orosur Mining Inc. staff follow standard operating and quality assurance procedures to ensure that sampling techniques and sample results meet international reporting standards. Drill core is split in half over widths that vary between 0.3m and 2m, depending upon the geological domain. One half is kept on site in the Minera Anzá core storage facility, with the other sent for assay. Industry standard QAQC protocols are put in place with approximately 10% of total submitted samples being blanks, repeats or Certified Reference Materials (CRMs). Samples for holes PEP-001 to PEP-011 were sent to the Medellin preparation facility of ALS Colombia Ltd, and then to the ISO 9001 certified ALS Chemex laboratory in Lima, Peru. Samples from PEP-012 onwards are sent to Medellin laboratory of Actlabs for preparation and assay. 30 gram nominal weight samples are then subject to fire assay and AAS analysis for gold with gravimetric re-finish for overlimit assays of >5 g/t. ICP-MS Ultra-Trace level multi-element four-acid digest analyses may also undertaken for such elements as silver, copper, lead and zinc, etc. Gold intersections are reported using a lower cut-off of 0.3g/t Au over 3m. Intersections are quoted as downhole thicknesses. True thicknesses are unknown. Forward Looking Statements All statements, other than statements of historical fact, contained in this news release constitute "forward looking statements" within the meaning of applicable securities laws, including but not limited to the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and are based on expectations estimates and projections as of the date of this news release. Forward-looking statements include, without limitation, the continuing focus on the Pepas prospect, the exploration plans in Colombia and the funding of those plans, and other events or conditions that may occur in the future. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such forward-looking statements. Such statements are subject to significant risks and uncertainties including, but not limited to, those described in the Section "Risks Factors" of the Company's MD&A for the year ended May 31, 2024. The Company's continuance as a going concern is dependent upon its ability to obtain adequate financing, to reach profitable levels of operations and to reach a satisfactory closure of the Creditor´s Agreement in Uruguay. These material uncertainties may cast significant doubt upon the Company's ability to realize its assets and discharge its liabilities in the normal course of business and accordingly the appropriateness of the use of accounting principles applicable to a going concern. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events and such forward-looking statements, except to the extent required by applicable law. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ or visit SOURCE: Orosur Mining Inc View the original press release on ACCESS Newswire Melden Sie sich an, um Ihr Portfolio aufzurufen.
Associated Press
02-08-2025
- Business
- Associated Press
Battery X Metals Advances 2025 Critical Metals Exploration Strategy, Initiates NI 43-101 Report for Y Lithium Project, and Strengthens Financial Position
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / ACCESS Newswire / August 1, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W)('Battery X Metals' or the 'Company') an energy transition resource exploration and technology company, announces that, its wholly-owned subsidiary, YY Resources Inc. ('YY Resources') has completed a high-resolution LiDAR (Light Detection and Ranging) and orthophoto survey program (the 'LiDAR Survey') at its Y Lithium Project (the 'Y Lithium Project') located in northern Saskatchewan, near Bailey Lake. An assessment report (the 'Assessment Report') has been submitted to the Saskatchewan Ministry of Energy and Resources, and the Company has engaged an arm's-length geological consulting firm (the 'Geological Consulting Firm') to prepare a National Instrument 43-101 ('NI 43-101") technical report on the Y Lithium Project. Battery X Metals' Comprehensive 360° Strategy Across the Battery Metals Value Chain As previously disclosed in the Company's news release dated February 24, 2025, Battery X Metals is advancing a comprehensive 360° strategy across the battery metals sector. This strategy encompasses the exploration of prospective battery metal properties; the development of proprietary recovery technologies pursued through a prior research collaboration with a globally ranked top 20 university to recover battery-grade materials from end-of-life batteries;1 and the development and future commercialization of patent-pending software and hardware technology for the extension of remaining useful lifespan of electric vehicle batteries. The Company's strategic exploration initiatives during the 2025 season are intended to focus its efforts and reinforce its commitment to innovation across the battery metals value chain. The Y Lithium Project is located in a remote and underexplored region near Bailey Lake, approximately 160 kilometers northeast of Stony Rapids and 10 kilometers south of the Saskatchewan/Northwest Territories border. The project comprises four mineral claims across two distinct blocks, covering a total area of approximately 5,856 hectares. It forms a core part of Battery X Metals' 2025 exploration strategy targeting high-potential lithium-bearing projects in North America. Notably, the Bailey Lake lithium occurrence is situated approximately 10 kilometers east of the Y Lithium Project's central claim area. To support the evaluation and advancement of the Y Lithium Project's critical battery metal potential, YY Resources has engaged the Geological Consulting Firm to commission a NI 43-101 technical report. The NI 43-101 technical report is expected to provide a formal geological assessment of the property and serve as the foundation for future exploration planning, technical disclosure, and potential development. The estimated cost of the report is approximately $7,000, plus applicable taxes, and may be subject to additional fees related to travel, further revisions, or supplementary technical analysis, as required. The completion of the LiDAR Survey represents a key milestone in the Company's 2025 exploration program. The total cost of the survey was $56,400 plus applicable taxes, which has been fully paid. Notably, the LiDAR Survey qualifies for a 1.5x exploration expenditure credit under Saskatchewan's mineral exploration incentive program. As a result, YY Resources is able to apply a total of $116,348 in assessment credits on the Y-Lithium Project, effectively reducing its annual exploration expenditures and improving capital efficiency. This allows for a strategic reallocation of resources toward potential future exploration efforts and additional technical initiatives, such as the NI 43-101 technical report. Interpretation and Recommendations of the LiDAR Survey The Y Lithium Project is a district-scale property with the potential to host hard rock lithium mineralization. It is situated within the Ennadai Greenstone Belt, which begins in the project area and extends northeast into the Northwest Territories. The recent discovery of spodumene-bearing boulders at Bailey Lake underscores the lithium prospectivity of this underexplored region. The LiDAR Survey is expected to play a critical role in identifying glacial features, potential outcrop, and boulder trains across the property. When integrated with available government data, the survey is expected to support the delineation of lithological contacts and structural corridors to be targeted in future exploration programs. Additionally, orthophotos generated from the LiDAR Survey are expected to highlight boulder trains and other high-potential features to potentially support a focused Phase I mapping and sampling program. YY Resources may proceed with a multi-phase exploration approach in the future. If advanced, future exploration work is anticipated to include data compilation and desktop analysis, such as the review of historical till and sediment sampling, geophysical surveys, regional mapping, and glacial ice flow directions. These inputs would be intended to support YY Resources' ongoing efforts to refine exploration targeting and unlock value at the Y Lithium Project. Belanger Project The Company also announces that, further to its news releases dated November 29, 2024, in which it disclosed the execution of an addendum agreement (the 'Belanger Addendum Agreement') with the optionor of the Belanger Project, Bounty Gold Corp. ('Bounty Gold'), an arm's-length third party, to acquire a 100% interest in the Belanger Project, it has made the final payment of $5,500 (the 'Final Payment') to Bounty Gold on July 2, 2025. This brings the total cash consideration paid under the Belanger Addendum Agreement to $18,000. With the completion of the Final Payment, the Company has satisfied all payment obligations under the Belanger Addendum Agreement and has earned a 100% interest in the Belanger Project, subject to a 3% Net Smelter Returns Royalty (the 'NSR'). The Company retains the right to purchase the first 1% of the NSR for $750,000 and the remaining 2% for $2,000,000 at any time prior to the commencement of commercial production. The Belanger Project, located in Ontario's Birch-Uchi Greenstone Belt near Red Lake, spans 109 unpatented mining claims across Belanger, Bowerman, Knott, and Mitchell townships. Situated within the Uchi Subprovince of the Superior Province of the Canadian Shield, the property lies in a geologically favorable region. Debt Settlement The Company also announces that, further to its news release dated July 18, 2025, it has settled outstanding indebtedness in the aggregate amount of $544,425.18 (the 'Debt Settlement') owing to certain creditors of the Company, satisfied through the following issuances: The securities issued under the Debt Settlement will be subject to a statutory hold period expiring December 2, 2025. The Debt Settlements with Massimo Bellini Bressi, Martino Ciambrelli, John Campbell and Howard Blank (together, the 'Insider Settlements') are 'related party transactions' within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ('MI 61-101"). The Insider Settlements are exempt from the valuation requirement of MI 61-101 by virtue of the exemptions contained in section 5.5(b) of MI 61-101 as the Company's common shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(1)(a) of MI 61-101 in that the fair market value of the Insider Settlements will not exceed 25% of the Company's market capitalization. As the material change report disclosing the Insider Settlements is being filed less than 21 days before the transaction, there is a requirement under MI 61‐101 to explain why the shorter period was reasonable or necessary in the circumstances. In the view of the Company, it is necessary to immediately close the Insider Settlements and therefore, such shorter period is reasonable and necessary in the circumstances to improve the Company's financial position. None of the securities acquired in the Debt Settlement will be registered under the United States Securities Act of 1933, as amended (the '1933 Act'), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful. Qualified Persons In accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects, Jason Arnold, President of DCX Geological Consulting and an independent Qualified Person, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting activities on its projects. 1 The initial research and collaboration agreement concluded on June 30, 2025. the Company is evaluating a new agreement with the globally ranked top 20 university to continue and expand its prior development work. About Battery X Metals Inc. Battery X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W) is an energy transition resource exploration and technology company committed to advancing domestic and critical battery metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit On Behalf of the Board of Directors Massimo Bellini Bressi, Director For further information, please contact: Massimo Bellini Bressi Chief Executive Officer Email: [email protected] Tel: (604) 741-0444 Disclaimer for Forward-Looking Information This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this release include, but are not limited to, statements regarding the exploration activities of the Company, the anticipated actions of YY Lithium, the exploration of the Y Lithium Project, the results of the LiDAR Survey and the impact of such results within the Company, the future potential exploration efforts and preparation of an NI 43-101 Technical Report for the Y Lithium Project, the Company's research collaborations with third parties, the future rights related to the Net Smelter Returns Royalty on the Belanger Project; any future development or commercial production scenarios relating to the Belanger Project; the anticipated impact of the completed Debt Settlement on the Company's financial position, the participation of related parties, the availability of exemptions under MI 61-101, and other future outcomes related to the transaction. Forward-looking statements reflect management's current beliefs, expectations, and assumptions based on available information as of the date of this release. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks include, but are not limited to, general economic, market, and regulatory conditions, risks posed by environmental changes, the risk that commercial production at the Belanger Project may never occur, and the risk that the intended benefits of the Debt Settlement may not be realized as expected. Additional risks and uncertainties are discussed in the Company's filings on SEDAR+. The forward-looking statements in this news release are made as of the date hereof, and Battery X Metals disclaims any intention or obligation to update or revise such statements, except as required by law. Investors are cautioned not to place undue reliance on these forward-looking statements. SOURCE: Battery X Metals press release
Yahoo
02-08-2025
- Business
- Yahoo
Battery X Metals Advances 2025 Critical Metals Exploration Strategy, Initiates NI 43-101 Report for Y Lithium Project, and Strengthens Financial Position
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES VANCOUVER, BC / / August 1, 2025 / Battery X Metals Inc. (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W)("Battery X Metals" or the "Company") an energy transition resource exploration and technology company, announces that, its wholly-owned subsidiary, YY Resources Inc. ("YY Resources") has completed a high-resolution LiDAR (Light Detection and Ranging) and orthophoto survey program (the "LiDAR Survey") at its Y Lithium Project (the "Y Lithium Project") located in northern Saskatchewan, near Bailey Lake. An assessment report (the "Assessment Report") has been submitted to the Saskatchewan Ministry of Energy and Resources, and the Company has engaged an arm's-length geological consulting firm (the "Geological Consulting Firm") to prepare a National Instrument 43-101 ("NI 43-101") technical report on the Y Lithium Project. Battery X Metals' Comprehensive 360° Strategy Across the Battery Metals Value ChainAs previously disclosed in the Company's news release dated February 24, 2025, Battery X Metals is advancing a comprehensive 360° strategy across the battery metals sector. This strategy encompasses the exploration of prospective battery metal properties; the development of proprietary recovery technologies pursued through a prior research collaboration with a globally ranked top 20 university to recover battery-grade materials from end-of-life batteries;1 and the development and future commercialization of patent-pending software and hardware technology for the extension of remaining useful lifespan of electric vehicle batteries. The Company's strategic exploration initiatives during the 2025 season are intended to focus its efforts and reinforce its commitment to innovation across the battery metals value chain. The Y Lithium Project is located in a remote and underexplored region near Bailey Lake, approximately 160 kilometers northeast of Stony Rapids and 10 kilometers south of the Saskatchewan/Northwest Territories border. The project comprises four mineral claims across two distinct blocks, covering a total area of approximately 5,856 hectares. It forms a core part of Battery X Metals' 2025 exploration strategy targeting high-potential lithium-bearing projects in North America. Notably, the Bailey Lake lithium occurrence is situated approximately 10 kilometers east of the Y Lithium Project's central claim area. To support the evaluation and advancement of the Y Lithium Project's critical battery metal potential, YY Resources has engaged the Geological Consulting Firm to commission a NI 43-101 technical report. The NI 43-101 technical report is expected to provide a formal geological assessment of the property and serve as the foundation for future exploration planning, technical disclosure, and potential development. The estimated cost of the report is approximately $7,000, plus applicable taxes, and may be subject to additional fees related to travel, further revisions, or supplementary technical analysis, as required. The completion of the LiDAR Survey represents a key milestone in the Company's 2025 exploration program. The total cost of the survey was $56,400 plus applicable taxes, which has been fully paid. Notably, the LiDAR Survey qualifies for a 1.5x exploration expenditure credit under Saskatchewan's mineral exploration incentive program. As a result, YY Resources is able to apply a total of $116,348 in assessment credits on the Y-Lithium Project, effectively reducing its annual exploration expenditures and improving capital efficiency. This allows for a strategic reallocation of resources toward potential future exploration efforts and additional technical initiatives, such as the NI 43-101 technical report. Interpretation and Recommendations of the LiDAR SurveyThe Y Lithium Project is a district-scale property with the potential to host hard rock lithium mineralization. It is situated within the Ennadai Greenstone Belt, which begins in the project area and extends northeast into the Northwest Territories. The recent discovery of spodumene-bearing boulders at Bailey Lake underscores the lithium prospectivity of this underexplored region. The LiDAR Survey is expected to play a critical role in identifying glacial features, potential outcrop, and boulder trains across the property. When integrated with available government data, the survey is expected to support the delineation of lithological contacts and structural corridors to be targeted in future exploration programs. Additionally, orthophotos generated from the LiDAR Survey are expected to highlight boulder trains and other high-potential features to potentially support a focused Phase I mapping and sampling program. YY Resources may proceed with a multi-phase exploration approach in the future. If advanced, future exploration work is anticipated to include data compilation and desktop analysis, such as the review of historical till and sediment sampling, geophysical surveys, regional mapping, and glacial ice flow directions. These inputs would be intended to support YY Resources' ongoing efforts to refine exploration targeting and unlock value at the Y Lithium Project. Belanger ProjectThe Company also announces that, further to its news releases dated November 29, 2024, in which it disclosed the execution of an addendum agreement (the "Belanger Addendum Agreement") with the optionor of the Belanger Project, Bounty Gold Corp. ("Bounty Gold"), an arm's-length third party, to acquire a 100% interest in the Belanger Project, it has made the final payment of $5,500 (the "Final Payment") to Bounty Gold on July 2, 2025. This brings the total cash consideration paid under the Belanger Addendum Agreement to $18,000. With the completion of the Final Payment, the Company has satisfied all payment obligations under the Belanger Addendum Agreement and has earned a 100% interest in the Belanger Project, subject to a 3% Net Smelter Returns Royalty (the "NSR"). The Company retains the right to purchase the first 1% of the NSR for $750,000 and the remaining 2% for $2,000,000 at any time prior to the commencement of commercial production. The Belanger Project, located in Ontario's Birch-Uchi Greenstone Belt near Red Lake, spans 109 unpatented mining claims across Belanger, Bowerman, Knott, and Mitchell townships. Situated within the Uchi Subprovince of the Superior Province of the Canadian Shield, the property lies in a geologically favorable region. Debt SettlementThe Company also announces that, further to its news release dated July 18, 2025, it has settled outstanding indebtedness in the aggregate amount of $544,425.18 (the "Debt Settlement") owing to certain creditors of the Company, satisfied through the following issuances: $446,603.75 in consideration for the issuance of an aggregate of 1,860,844 units of the Company (each, a "Debt Settlement Unit") at a deemed price of $0.24 per Debt Settlement Unit. Each Debt Settlement Unit consists of one common share of the Company (each, a "Debt Share") and one transferable common share purchase warrant (each, a "Debt Settlement Warrant"). Each Debt Settlement Warrant is exercisable to acquire one additional common share of the Company (each, a "Debt Settlement Warrant Share") at an exercise price of $0.315 per Debt Settlement Warrant Share for a period of two (2) years from August 1, 2025. $97,821.43 in consideration for the issuance of an aggregate of 407,587 Debt Shares at a deemed price of $0.24 per Debt Share. The securities issued under the Debt Settlement will be subject to a statutory hold period expiring December 2, 2025. The Debt Settlements with Massimo Bellini Bressi, Martino Ciambrelli, John Campbell and Howard Blank (together, the "Insider Settlements") are "related party transactions" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Insider Settlements are exempt from the valuation requirement of MI 61-101 by virtue of the exemptions contained in section 5.5(b) of MI 61-101 as the Company's common shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(1)(a) of MI 61-101 in that the fair market value of the Insider Settlements will not exceed 25% of the Company's market capitalization. As the material change report disclosing the Insider Settlements is being filed less than 21 days before the transaction, there is a requirement under MI 61‐101 to explain why the shorter period was reasonable or necessary in the circumstances. In the view of the Company, it is necessary to immediately close the Insider Settlements and therefore, such shorter period is reasonable and necessary in the circumstances to improve the Company's financial position. None of the securities acquired in the Debt Settlement will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful. Qualified PersonsIn accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects, Jason Arnold, President of DCX Geological Consulting and an independent Qualified Person, is the Qualified Person for the Company and has prepared, validated and approved the technical and scientific content of this news release. The Company strictly adheres to CIM Best Practices Guidelines in conducting, documenting, and reporting activities on its projects. 1 The initial research and collaboration agreement concluded on June 30, 2025. the Company is evaluating a new agreement with the globally ranked top 20 university to continue and expand its prior development work. About Battery X Metals X Metals (CSE:BATX)(OTCQB:BATXF)(FSE:5YW, WKN:A40X9W) is an energy transition resource exploration and technology company committed to advancing domestic and critical battery metal resource exploration and developing next-generation proprietary technologies. Taking a diversified, 360° approach to the battery metals industry, the Company focuses on exploration, lifespan extension, and recycling of lithium-ion batteries and battery materials. For more information, visit On Behalf of the Board of DirectorsMassimo Bellini Bressi, Director For further information, please contact:Massimo Bellini BressiChief Executive OfficerEmail: mbellini@ (604) 741-0444 Disclaimer for Forward-Looking InformationThis news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this release include, but are not limited to, statements regarding the exploration activities of the Company, the anticipated actions of YY Lithium, the exploration of the Y Lithium Project, the results of the LiDAR Survey and the impact of such results within the Company, the future potential exploration efforts and preparation of an NI 43-101 Technical Report for the Y Lithium Project, the Company's research collaborations with third parties, the future rights related to the Net Smelter Returns Royalty on the Belanger Project; any future development or commercial production scenarios relating to the Belanger Project; the anticipated impact of the completed Debt Settlement on the Company's financial position, the participation of related parties, the availability of exemptions under MI 61-101, and other future outcomes related to the transaction. Forward-looking statements reflect management's current beliefs, expectations, and assumptions based on available information as of the date of this release. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking statements. These risks include, but are not limited to, general economic, market, and regulatory conditions, risks posed by environmental changes, the risk that commercial production at the Belanger Project may never occur, and the risk that the intended benefits of the Debt Settlement may not be realized as expected. Additional risks and uncertainties are discussed in the Company's filings on SEDAR+. The forward-looking statements in this news release are made as of the date hereof, and Battery X Metals disclaims any intention or obligation to update or revise such statements, except as required by law. Investors are cautioned not to place undue reliance on these forward-looking statements. SOURCE: Battery X Metals View the original press release on ACCESS Newswire
