South American gold company Orosur Mining (LON:OMI) (TSE:OMI) has identified gold and silver mineralisation at the Central area of the Anillo project in Chile.
It follows a month-long, 3,000-metre drill program of 10 holes.
In total, the company intersected five metres at an average grade of 0.46 grams per tonne of gold.
Anillo lies next to the world-class El Peñon deposit, Chile’s largest gold and silver producer.
It is thought Anillo will need a second round of drilling to extend exploration to the west with detailed mapping, sampling and geophysics.
A detailed structural study of the area will be useful to analyse the architecture of the El Peñon – Pampa Victoria corridor, the company added.
Ignacio Salazar, Orosur’s interim managing director, said: “The results returned to date are very encouraging.
“We achieved positive Au [gold] and Ag [silver] intersections within a highly prospective area, adjacent to a world class Ag-Au deposit.
“This justifies further work as we will pursue the principal mineralized structures. We plan to advance Anillo in the most effective way to create value for our shareholders”.
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