Orosur advancing Uruguay's San Gregorio West

Wednesday, October 12, 2016

Santiago-based gold miner Orosur Mining said construction of its San Gregorio West underground mine in Uruguay is on budget and on schedule.

The mine is due to come online toward the end of the company's fiscal 2Q17, which finishes November 30.

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The mine, Orosur said in a statement, is a continuation at depth of the historic San Gregorio open pit deposit which the company currently mines. San Gregorio West will be Uruguay's second mechanized underground mine after Arenal, also an Orosur property.

The planned development of the San Gregorio underground mine has a phased capex of US$7.9mn, according to information in an August presentation.

The company is also engaged in further exploration at the San Gregorio deposit, with the latest drilling yielding positive results which will enhance the mine's economics and increase reserves and resources in the short and medium term, it said.

Orosur said that, at its Anzá project in Colombia, it completed initial preliminary metallurgy and density test work, with average gold recoveries ranging from 95.9-96.1%, using a combination of gravity concentration, flotation and cyanidation processing.

A new geological model is expected to be completed during fiscal Q3 (ending February 28), in order to evaluate options to advance the Anzá project.