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    OMI   CA6871961059

OROSUR MINING INC.

(OMI)
  Report
End-of-day quote Bourse de Toronto  -  2022-09-26
0.1400 CAD   -6.67%
09/26Orosur Mining Inc - Employee Options Exercise
AQ
09/12Orosur Mining Inc - Colombia update
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09/09Orosur Mining JV To Form New Mining Group For Colombian Project
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Orosur Mining Inc. Announces Positive Assay Results from Follow Up Soil Sampling Program At the La Esfinge Prospect At El Pantano, Santa Cruz Province, Argentina

06/28/2022 | 02:00am EDT

Orosur Mining Inc. announced positive assay results from a follow up soil sampling program at the La Esfinge prospect at El Pantano, Santa Cruz Province, Argentina. As announced on May 3rd, 2022, field teams had returned to El Pantano to complete a short infill program designed to add more detail to the positive soil sampling results from the first pass reconnaissance program undertaken in March 2022. 13 additional soil sampling lines were completed across the western section of La Esfinge and have returned highly anomalous results, with gold in soil results up to 152ppb Au.

These results are highly encouraging in both scale and composition.  A geochemical anomaly has now been defined in detailed over a strike length in excess of 1km, but open to both east and west.  This anomaly is also evident in a range of additional pathfinder elements, such as would be expected from a substantial epithermal system. This work has now defined a high priority exploration target which will be followed up after the winter recess which is expected to last until early September. The El Pantano project ") is subject to an Exploration & Joint Venture  agreement with private Argentinean company DESEADO DORADO S.A.S and its shareholders ("Deseado").

The general terms of the Agreement allow for the Company to earn 100% equity in the Project by investing USD 3 million over five years in two phases: Phase 1, earn 51% by investing US$1m over an initial 3-year period. Phase 2, move to 100% ownership by investing an additional US$2m over a subsequent 2-year period and granting Deseado a residual 2% net smelter return royalty on the Project. This second pass program entailed 13 additional geochemical survey lines at a nominal spacing of 120m, across the western end of the La Esfinge silicified ridge.

The program was only small due to approaching winter and was designed to better define the high coarse scale anomalies that had been previously defined by the first pass survey in March.  It was felt that such definition was important so as to gain a better understanding of the potential of the prospect and allow for follow up work to be planned over the winter break. The same sampling techniques were employed as per the earlier work in March. The results of the program were extremely positive, with the broad anomalous responses at the western end of La Esfinge being confirmed, and much better defined.

While anomalous gold results are important, of equal importance is the response from a range of pathfinder elements which are generally more mobile.  Multielement geochemical analysis of the soil samples has confirmed good correlation between gold, and anomalous responses from a suite of other elements such as Ag, As, Bi, Cu, In, and Bi, that are suggestive as being derived from an epithermal system. Work at El Pantano has now ceased for the winter recess, which in general would be expected to last until early September.

After this, the Company plans follow up work, which could include additional geochemical analysis over a wider area, ground magnetics, mapping, which if positive, could lead to a drilling campaign in the medium term.


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Financials (USD)
Sales 2021 - - -
Net income 2021 -1,88 M - -
Net cash 2021 7,04 M - -
P/E ratio 2021 -27,7x
Yield 2021 -
Capitalization 18,2 M 18,3 M -
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees 7
Free-Float 84,3%
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Income Statement Evolution
Managers and Directors
Bradley William George Chief Executive Officer & Executive Director
Victor Johan Hugo Chief Financial Officer
Louis Emmanuel Castro Executive Chairman
Thomas Peter Masney Independent Non-Executive Director
Nicholas Kurt von Schirnding Independent Non-Executive Director
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