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 
  • In September 2018, Orosur entered into a strategic alliance with Newmont Goldcorp, allowing them a three phased earn-in of up to 75% in Anzá by spending a minimum US$30.0mm over 12 years, completing an NI 43-101 feasibility study & making cash payments to Orosur equaling a US$4.0mm.
    • Newmont Goldcorp also invested US$2.0mm to purchase 29,213,186 shares, amounting to a 19.4% interest in Orosur


  • 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 Drilling

  • 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 in 2017/2018 of 18 holes, or 6,314m at APTA validated Orosur's geological model, extended the mineralized zone and intercepted numerous high grade gold intervals
  • Drilling in 2017/2018 totaling 5 holes, or 3,045m at Charascala confirmed the presence of gold in the system and identified an important exploration target in the South of Charrascala

Newmont Goldcorp Strategic Alliance

  • In September 2018, Orosur entered into a non-brokered private placement with Newmont Goldcorp for US$2.0mm, and entered into an exploration agreement with venture option (the “Exploration and Option Agreement”)
  • The Exploration and Option Agreement includes a three-phase earn-in structure allowing Newmont to earn up to a 75% ownership interest in the Anzá Project by spending a minimum of US$30.0 million in qualifying expenditures over twelve years, completing an NI 43-101 compliant feasibility study and making cash payments to Orosur equaling a total of US$4.0 million over Phases 1 and 2. 
  • In Phase 1, Newmont may earn a 51% ownership interest by spending US$10.0 million in qualifying expenditures over four years and making cash payments to Orosur equaling a total of US$2.0 million during the first two years of the Phase 1 earn-in period. Upon Newmont’s completion of Phase 1, it may elect, in its sole discretion, to exercise its option to form a joint venture with Orosur. 
  • In Phase 2, Newmont may elect to earn an additional 14% ownership interest in the Anzá Project by solefunding US$20.0 million in qualifying expenditures within four years, completing an NI 43-101 compliant pre-feasibility study and making cash payments to Orosur equaling a total of US$2.0 million. 
  • In Phase 3, Newmont may elect to earn an additional 10% ownership interest in the Anzá Project by completing an NI 43-101 compliant feasibility study within four years.
  • Joint Funding and Financing Option
  • Upon Newmont completing the Phase 3 earn-in, Orosur may elect for Newmont to solely fund all expenditures until the commencement of commercial production at the Anzá Project. If the Company elects for Newmont to do so: 
    • Newmont’s ownership interest shall increase by 5% to 80% in the Anzá Project; 
    • Upon the commencement of commercial production, Orosur shall commence contributing funds for adopted programs and budgets in proportion to its ownership interest or suffer dilution of its ownership interest; and 
    • Newmont shall receive 90% of Orosur’s distribution of earnings or dividends until such time as the amounts received equal the aggregate amount of expenditures incurred by Newmont on behalf of Orosur, plus nominal interest.