Orusur Mining (OMI)
Orosur has provided an update on exploration activities at its El Pantano gold and silver project (‘Project’ or ‘El Pantano’) in Argentina. Results clearly underline the region’s potential, with low-cost generation of a highly prospective array of gold targets amid a presently buoyant market for the precious metal. Analysis of mapping and sampling data from completed field work has resulted in identification of a large, district scale low-sulphidation epithermal system. With environmental studies for required drilling permits already having been submitted, the Board expects to be in a position to commence work before the year end. Meanwhile, of course, the Group continues to oversee the complex process of reassuming 100% ownership of the Anzá project (the ‘Anzá Project’) from joint venture partners, Newmont Corporation (‘Newmont’) (NYSE: NEM, TSX: NGT), and Agnico Eagle Mines Limited (‘Agnico’) (NYSE: AEM, TSX: AEM) (the ‘Transaction’). Holding a cash balance of US$1.65m as of 23 April 2024, Orosur’s geologists are presently in Colombia carrying out the planning and permitting required for commencement of drilling activities as soon as possible following completion of the Transaction.
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