Orosur Mining Inc (AIM:OMI, TSX-V:OMI) shares traded up on Tuesday after reporting high-grade gold results from infill drilling at its Pepas prospect, in Colombia.
It is part of a programme aimed at defining a NI 43-101 compliant Mineral Resource Estimate for Pepas by the end of 2025.
“While size remains to be defined, the picture of Pepas as a highly lucrative mining proposition is rapidly solidifying,” chief executive Brad George said.
“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."
In London, Orosur shares traded up 12% changing hands at 11.5p.
Drilling in detail
The latest assays include 104 metres at 6.61 grams per tonne (g/t) gold from surface in hole PEP047, including zones of 36.6 metres at 10.23g/t and 15.4 metres at 10.30g/t. Hole PEP048 returned 32.3 metres at 3.65g/t gold from surface. Hole PEP049 intersected 94.2 metres at 3.74g/t gold from surface.