Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Orosur Mining (LON: OMI) shares have skyrocketed on Tuesday after the company released an update on the progress of Minera Anzá's drilling campaign currently underway at the company's Anzá project in Colombia.
The AIM-listed firm received assays from nine additional holes with multiple high-grade gold intersections with associated silver and zinc.
These included 59.55m at 9.61 grams per tonne of gold and 61.75m at 2.05 grams per tonne of gold.
Orosur said the current drilling program is nearing completion as planned, and further assays are expected in due course.
The projects regional exploration programs have been underway for some time and are progressing well. It includes geological mapping, BLEG sampling, and soil and stream sediment sampling.
The company also has major geophysical surveys panned, with work hoping to commence in August.
Orosur CEO Brad George commented: “While a long time coming, these drill results are spectacular and give us great comfort that Anzá has the potential to be a major gold system.
“Further assays are expected in due course. We are now directing our teams to identifying the next drill targets – work that has so far shown great promise.”
Orosur Mining's share price has skyrocketed on Tuesday, currently trading 91.5% above Monday's close at 25.65p.
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