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Additional Information
Market: AIM / TSX-V
Sector: General Mining - Gold
EPIC: OMI
Latest Price: 53.00p  (-0.93% Descending)
52-week High: 87.00p
52-week Low: 44.00p
Market Cap: 41.33M
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Orosur Mining
www.orosur.ca

Orosur Mining Inc. is a gold producer and exploration company focused on identifying and developing gold projects in Latin America. The Company is a fully integrated mining company, possessing the skills necessary to explore and develop its discoveries. The Company operates the only producing gold mine in Uruguay (San Gregorio), and has assembled an exploration portfolio of high quality assets in Uruguay,Chile and Argentina.

Full Orosur Mining profile here
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Orosur Mining begins drilling on newly acquired Pantanillo gold property

25th Feb 2010, 3:20 pm Orosur Mining begins drilling on newly acquired Pantanillo gold property

Orosur Mining (TSX-V, AIM: OMI) has initiated a 7,500m resource definition diamond drill program at its Pantanillo gold property in Chile.  The company also announced it is making progress in the expansion of its San Gregorio operations in Uruguay.

Orosur has appointed Randall Corbett as the general manager and hired AMEC (LSE: AMEC) to complete the Arenal Deeps feasibility study at San Gregorio.

The Pantanillo drilling is designed to infill and confirm historic drill results, focusing on the upper oxidized and transition zones down to an average depth of 200m. “This drilling will allow us to define a 43-101 resource during calendar 2010”, Orosur CEO David Fowler commented. “We have also started a scoping study to establish the optimal development route for the project and expect results to be published during calendar 2010”.

The Chilean gold property is part of the newly acquired Fortune Valley portfolio. Orosur, formerly Uruguay Minerals, closed the transaction and renamed the company in January. Pantanillo was Fortune Valley’s primary asset, which is being acquired through an option agreement from a subsidiary of Anglo American PLC (LSE: AAL).

Orosur said the Pantanillo mineralization is characterized by both gold porphyry style veining and high sulfidation ledges. Anglo American and Kinross Gold (NYSE: KGC) have historically drilled more than 17,900m on the property with 15,134m being drilled on Pantanillo Norte, the principal target. The Pantanillo Norte drilling was completed over a 800x500m surface area, the projects other targets include the Central, Suras and Quebrada.

“The appointment of Mr Corbett, the commencement of final feasibility work and the planned resource update represent important milestones for the development of Arenal Deeps that is expected to extend mine life at San Gregorio and progressively reduce costs”,  Fowler stated.

Orosur has contracted AMEC E&C Services to complete the feasibility study for the Arenal Deeps project in San Gregorio, Uruguay. The feasibility study is expected to be completed in the third quarter of the 2010 calendar year, additionally an updated measured and indicated resource is also expected to be published for Arenal Deeps, in March 2010.

San Gregorio’s new general manager Corbett has over 25 years of operational, engineering and mine development experience, having previously worked for Hecla Mining (NYSE: HL), Barrick Gold (NYSE: ABX) and Ashanti Goldfields.

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