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(Sharecast News) - Orosur Mining announced the start of a targeted infill drilling programme at its Pepas gold prospect in Colombia on Monday, marking the first step toward defining a maiden mineral resource estimate (MRE) for the asset.
The AIM-traded firm said its decision followed encouraging conceptual studies and sustained high gold prices, which suggested Pepas could support near-term production.
It said the move to resource definition at Pepas would run in parallel with continued regional exploration across the Anz project and at the company's El Pantano project in Argentina.
Orosur said it was confident its technical and financial capacity could support both efforts simultaneously.
A single drill rig had been reassigned to focus on infill drilling within the defined high-grade zone at Pepas.
The company said it expected to complete between 1,500 and 2,000 metres of additional drilling by November, with the goal of publishing an MRE by December, subject to assay results and the availability of independent geological consultants for QA/QC site work.
"The company has made huge strides in the seven months since reassuming ownership and control of Anz," said chief executive Brad George.
"To be now able to consider moving to a MRE and then into feasibility in such a short space of time is unheard of, and testament to the tremendous work by our team on the ground."
The Pepas deposit, located in the far north of the Anz licence area, had delivered numerous high-grade intersections since Orosur resumed drilling in late 2024.
Notable recent intercepts included 77.3 metres at 7.68 grams per tonne and 59 metres at 10.15 grams per tonne.
The company said it believed the prospect's near-surface, high-grade nature and favourable infrastructure positioned it as a potential early-stage development opportunity.
In addition to drilling, a structural geology consultant was working with Orosur's technical team to develop the geological models required to support the Pepas resource estimate.
That included understanding litho-structural controls on mineralisation and assessing broader potential across the Pepas epithermal system.
The company said it was also reassessing the APTA prospect at the centre of the Anz licence area, where 38,000 metres of historic drilling had already outlined several high-grade pods.
A revised geological interpretation was underway to better define controls on mineralisation and support a future MRE.
Orosur reiterated that while Pepas moved into resource drilling, exploration would continue at other targets.
Work at El Cedro was delayed by weather-related access issues, but was expected to resume.
Meanwhile, the El Pantano project in Argentina was drill-ready, with mobilisation targeted before year-end.
At 1140 BST, shares in Orosur Mining were up 14.25% at 8.74p.
Reporting by Josh White for Sharecast.com.