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Orosur Mining Inc.
Summary
| Project: | San Gregorio | |
|---|---|---|
| Deposit: | San Gregorio | |
| Location: | Uruguay | |
| Commodities: | Gold | |
| Date: | 10/17/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 17-10-2017: Orosur Mining Inc. announces an Exploration/Drilling Update report for its San Gregorio deposit at the San Gregorio project. Drilling results incl. 7.0m @ 5.8g/t Au from 13.00m. MONTEVIDEO, Uruguay, October 16th, 2017. Orosur Mining Inc. (“Oro | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Miguel Fuentealba (Independent) | |
| ABSTRACT: | MONTEVIDEO, Uruguay, October 16th, 2017. Orosur Mining Inc. (“Orosur” or the “Company”) (TSX/AIM: OMI), a South American-focused gold producer, developer and explorer is pleased to announce the commencement of drilling in Colombia and the results for the first quarter of its fiscal 2018 ended August 31, 2017 (“Q1 18” or the “Quarter”). Over the quarter, despite the mine drawing ore from lower grade sources, gold production totaled 8,626 oz, at cash operating costs of US$901/oz. These results exceeded expectations and are. a promising start to the year, boding well for the Company achieving its 30,000 – 35,000 oz production guidance and US$800 - US$900/oz operating cash cost guidance for the full year. The Company increased capital expenditures to US$2.9M and exploration spending to US$1.6Min Q1 18 compared with US$1.9M and $0.5M respectively in Q1 17, with the objective to increase production and/or mine life in Uruguay. As a consequence, AISC increased to US$1,348/oz. Initial results of the enhanced exploration program in Uruguay were announced on September 21, 2017, following which, exploration drilling continued at Veta A, the potential new UG development in the area. Two new drill holes were drilled recently , with each intersecting the mineralized horizon. | |
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