Orosur Mining's High-Grade Gold Discovery at Anzá: A Catalyst for Value Creation

The recent announcement of a 62.3m @ 12.76g/t Au intercept at Orosur Mining's (TSXV:OMI)(AIM:OMI) Pepas prospect within its 100%-owned Anzá Project in Colombia marks a pivotal moment for the company. This discovery, part of an evolving high-grade gold system, has the potential to transform Anzá from an exploration asset into a near-term production candidate. Let's dissect the implications for resource potential, upcoming catalysts, and the investment case.

The Geological Breakthrough at Pepas

The 62.3m @ 12.76g/t Au intercept (including a 10.1m sub-interval at 33.39g/t Au) is the highest-grade result from over 26 drill holes completed at Pepas since late 2024. This intersection, along with other notable results like PEP044's 16.55m @ 11.19g/t Au, underscores the structural control of high-grade mineralization within an epithermal system. Geologists now believe that steeply dipping feeder zones along the SW margin of the system are key to unlocking repetitions of such high-grade pods.

The infill drilling program targeting 1,500–2,000 meters by November 2025 aims to define a high-confidence Mineral Resource Estimate (MRE). If successful, this MRE—expected by December 2025—could validate Anzá's potential as a low-cost, near-surface gold deposit with minimal infrastructure constraints. The project's proximity to power, all-weather roads, and existing processing facilities further reduces development risks.

Strategic Catalysts for Investors

1. Mineral Resource Estimate (MRE) Delivery (Dec 2025):
   The MRE is a binary catalyst. A robust estimate could position Orosur for feasibility studies and production discussions, particularly in a gold price environment averaging above $2,000/oz.
   

2. Near-Term Production Potential:
   Pepas' shallow, high-grade nature and existing infrastructure suggest a path to early-stage production. The company's CEO highlighted this in recent statements, emphasizing the project's alignment with current gold economics.

3. Exploration Upside Beyond Pepas:
   While Pepas is the immediate focus, the Anzá Project's APTA deposit (with intersections like 14m @ 40.37g/t Au) and El Cedro porphyry system offer additional exploration targets. Geological modeling is refining understanding of these zones, which could add to resource growth.

4. 100% Ownership and Controlled Costs:
   Post-acquisition of Minera Monte Aguila, Orosur now fully owns Anzá, eliminating partnership dilution risks. With a lean exploration budget and a single drill rig efficiently allocated to high-priority targets, capital discipline is evident.

Risks and Considerations

• Drilling Outcomes: While results to date are encouraging, further intersections are needed to confirm the continuity of high-grade zones.
• Funding Requirements: Scaling up to feasibility studies or production may require additional financing, though current gold prices and investor appetite for high-margin assets could ease this hurdle.
• Regulatory Environment: Colombia's mining regulations are generally supportive, but permitting timelines can impact timelines.

Investment Thesis: A High-Reward, Near-Term Catalyst

Orosur's Anzá Project is at an inflection point. The 62.3m @ 12.76g/t Au intercept has already elevated the project's profile, but the December MRE is the critical next step. Success here could propel Orosur into advanced development talks, potentially unlocking significant value for shareholders.

For investors, TSXV:OMI is a speculative but high-potential play in a sector where high-grade gold discoveries are scarce. With a market cap of ~$[X] million (as of July 2025), the stock remains undervalued relative to peers with similar resource profiles.

Recommendation:
- Buy on dips ahead of the MRE announcement, with a $[X] price target if the estimate exceeds 500,000 oz at >10g/t.
- Hold for investors seeking exposure to Colombia's mid-Cauca belt, a globally recognized gold province.

Final Thoughts

Orosur's Pepas discovery is more than a single high-grade intercept—it's a signal of a larger, underappreciated gold system. With a clear path to resource delineation and a favorable macro backdrop for gold, Anzá could soon graduate from explorer to developer, rewarding investors who act before the market catches on.

This analysis is for informational purposes only. Investors should conduct their own due diligence and consult with a financial advisor.