Summary and Location
- Multiple high grade zones in a wide low-grade envelope and favourable topography with pipeline of drill ready targets
- Drilling to date favourable and encountered significant gold and zinc mineralisation
- Best intercepts to date include 15 m of 40 g/t Au (DDH MAP-48) and 41 m of 14 g/t Au (DDH MAP-38).
- Access by paved road to the town of Anzá and a 17 km gravel road operable year-round.
- Historically secure location. A gypsum mine has been in operation since 1991.
- Excellent infrastructure, with power grid, abundant water and mine facilities on site.
- Elevation ranges from 700 m to 2,000 m above sea level.
- Environmental permit in place to mine underground and open-pit.
- In June 2010, Waymar Resources, acquired by Orosur in July 2014, entered into an option agreement to acquire a 100% interest in the Anzá Project consisting of ~231 km² of mineral rights.
- In June 2013, the option was exercised and Waymar acquired a 100% interest in the Anzá project.
- Total consideration:
- US$3.8mm cash payments
- Issuance of 3.8mm Waymar shares (~1.4mm Orosur shares)
- Exploration expenditures of US$4.0mm
- In August 2017, Orosur completed a US$3.2M private placement, which was oversubscribed and at a premium to market to fund the drilling of up to 15,000m of diamond core drilling aimed at delineating a maiden resource
- Multiple phases of alteration, brecciation and mineralization.
- Multiple mineralised zones hosted preferentially in mudstones, chert and breccias; minor in volcanic units.
- Pyrite, sphalerite, chalcopyrite, and gold +/-galena, bornite, native S.
- Anhydrite/gypsum, quartz veining and stockwork, chalcedony, carbonate veinlets.
- Structurally controlled > 2.5 km long, 200 m wide zone of Au (+/-Ag, Zn, Cu). Variable mineralization and alteration styles. Evidence of “telescoping” (different mineralization styles expected to be vertically zoned but occurring overprinted upon each other).
- Drilling to date supports significant zinc grades coinciding with high grade gold.
- A fortuitous discovery of massive sulfide lens led to an initial volcanic massive sulphide (“VMS”) model; however, the initial 3,000 meters of phase 1 drilling which began in 2011 did not confirm VMS style mineralization but led to discovery of a new deposit., The mineralization is structurally controlled, with disseminated to semi-massive sulfides, irregular veins, stringers and, hydrothermal breccias. were more than 2 km long, 200 m wide zones of Au (+/‐ Ag, Zn, Cu) showing variable mineralization and alteration styles. An uncertain genetic model in virgin territory with few boundaries on geometry indicates a potential for continued discoveries, with mapped porphyry targets to the north and west, and a postulated porphyry source at shallow depth
- Exploration Activity and Strategy to date
17,408m of core drilling undertaken (53 holes) since first optioning the Project
Drill spacing averaging 50m. Average depths of drill holes of 300m.
In excess of 2.5 km of mineralization identified by drilling along the Aragón fault. The deposit is open to the north, south and down-dip.
Four high-grade gold zones discovered through step-out drilling.
Systematic soil, stream, surface and underground sampling programs
2,867 km helicopter magnetic and radiometric survey completed, covering approximately 260 km²
Structural evaluation using Radar images over the entire area of the land package
1:2000 scale geological mapping of areas of interest covering approximately 1,350 ha of the Anzá property
Induced polarization (“IP”), resistivity, magnetometry and topographic survey of 30 line-kilometres in a central portion of the Anzá property
- Hollistic re-interpretation and in depth analysis of exploration data suite
- Planning, budgeting and initiation of next step out drilling programme – including further delineation of high grade gold zones
- Continued advancement of work at targets and work on base metals mineralisation
- Recent work has included:
- Securing permitting and taking over operatorship of the two gypsum mines on the property
- Completing initial metallurgical testing with samples from previous drilling - which shows recoveries of 95.9 - 96.1% with gravity concentration, flotation and cyanidation
- MDA (Reno, Nevada) was engaged to assist in preparing a geological potential of the APTA target, which covers over a small portion of the known strike. This resulted in a potential of 1.6 - 2.3Mt at 3.2 - 3.7g/t Au.
- Logan Drilling was engaged in Q1 18 to drill up to 15,000m of diamond core
- Drilling commenced on October 12, 2017