Orosur Mining Inc shares were down, around 13%, after it announced its first resource estimate for the Pepas discovery, in Colombia, outlining 201,000 ounces of contained gold in the Indicated category as it pivots the prospect from drill-bit success into studies and permitting.
The maiden mineral resource estimate (effective 16 January 2026) comes in at 1.14 million tonnes grading 5.46g/t gold for the Indicated resource, plus an additional 18,000 ounces in an Inferred resource of 0.19 million tonnes at 2.99g/t.
The estimate was prepared by Bara Consulting and will be backed by an NI 43-101 technical report due within 45 days, the company said.
Pepas stands out for being shallow: the resource sits entirely within a conceptual open-pit shell to around 100 metres depth, with mineralisation starting at surface, the company noted.
Chief executive Brad George said the decision to concentrate drilling at Pepas had been “justified” by the maiden resource, adding the company will “immediately move Pepas into the economic study and permitting stage” while expanding exploration across the broader Anzá land package in Colombia’s Mid-Cauca gold belt.
Orosur shares were down 13.15%, changing hands at 29.53p on Tuesday morning.