Donald Leggatt was joined on Ticker TV by Brad George, CEO at Orosur Mining, who recently announced a Mineral Resource Estimate for an open pit gold mine at Pepas, one of three viable gold mine prospects at Anza, Colombia.
OMI have three main gold prospects at Anza:
- Pepas is a high grade resource, MRE done and permitting (#PTO) underway and Feasibility Study next.
- Apta is lower-grade, close to achieving an MRE, and can feed into Pepas.
- And El Cedro is an exciting high grade gold porphyry which may potentially be of interest to the mining majors.
Brad and the Board are ‘thrilled’ with the Pepas economics and see a clear route to a low cost, high grade open pit gold mine which can be developed relatively quickly.
“For example, there’s a global oversupply of copper smelters, and copper smelters will buy gold sulphide concentrate in advance to use up capacity and to lift the economics of their copper smelters” said Brad. Although tolling remains Plan A, this is being considered as part of the future funding mix for Pepas.
Finally, Brad said OMI will confirm shortly they own 100% of the El Pantano Argentina gold project; that almost 4,000 rather than 3,000 meters of the first phase maiden campaign have been drilled; and he expects to confirm in a few weeks that once the team on the ground have tied together the results and revealed a bigger picture, they should show the interesting mineralisation system they went looking for.
