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Orosur indicates plenty of life still at San Gregorio
Orosur Mining Inc. (LON:OMI CVE:OMI) is eyeing a significant expansion of the reserves and mine line of its San Gregorio gold mine in Uruguay after encouraging drill results.
The miner has been exploring an area between underground deposits in the west and east of the mine and found strong indications of gold in all seven holes it drilled.
Drilling deeper underground in the western section, meanwhile, has shown mineralisation continues at depth while exploration at San Gregorio East returned ‘consistent and attractive’ intercepts.
Brownfield exploration and re-evaluation at existing pits is also throwing up opportunities for further production, while Orosur is re-interpreting its San Gregorio–Arenal corridor data as a potential 25,000 sqm of further exploration acreage.
Ignacio Salazar, Orosur’s chief executive, said it had been more aggressive with exploration and development this year due to the much better operational performance from the company and higher gold price.
Development of the mining operation at San Gregorio West was also advancing according to plan and on budget, he said, with production due to commence at the end of the second quarter.
The locations adjacent to San Gregorio West, meanwhile, had potential to add reserves, expand the project and improve its economics via additional synergies.
At Anzá in Colombia, a geological model and exploration programme is being prepared after good metallurgical results.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/167285/orosur-indicates-plenty-of-life-still-at-san-gregorio-167285.html
