Orosur Mining jumps on drilling results in Colombia

21st Oct 2022 13:54

(Sharecast News) - Orosur Mining updated the market on its operations in Colombia on Friday, reporting assays from four additional diamond drill holes at Pepas and Pupino.

The AIM-traded firm said holes PEP005 and PEP007 were drilled from the same pad as PEP001, but in different directions.

It said the holes returned "substantial" gold intersections, with the best at PEP007 being 80.55 metres at 3.05 grams of gold per tonne from surface, including 41.75 metres at 5.24 grams per tonne.

Two holes were currently underway from new pads to attempt to better define the geometry of this mineralised body, the board added.

"PEP001 was clearly a spectacular result, but being only the first hole, caution was warranted," said chief executive officer Brad George.

"It is encouraging therefore that further holes have confirmed this first result and we eagerly await results from better positioned holes that are currently underway to get a better sense of the scale of what appears a most exciting prospect."

At 1445 BST, shares in Orosur Mining were up 22.2% at 12.22p.

Reporting by Josh White at Sharecast.com.