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Orsu Metals Corporation has provided an update on exploration activities at the Sergeevskoe project in Russia. A total of 2,456 soil samples were collected, with 1,079 samples receiving multi-element assays revealing that more than 50% showed values above 0.1 ppm gold. Notable anomalies include a 1-km-long gold-quartz stockwork potential, which could double the known mineralized envelope. Assay results indicate promising drilling targets, and full statistics will be released after the remaining assays are received. The results exceed expectations, enhancing exploration prospects.
Orsu Metals Corporation has received approval from the Russian Government for its Sergeevskoe project to be included in the Advanced Social Economic Zone. This status offers significant tax benefits: a nil Mineral Extraction Tax for the first two years and reduced income taxes starting from nil for initial profits. The company is collaborating with Wardell Armstrong International for an updated resource report and is conducting a geochemical sampling survey. An intention to produce a Preliminary Economic Study for the oxide resource has also been announced.
Orsu Metals Corporation has initiated a geochemical sampling survey at its Sergeevskoe project in Russia, targeting 2,800 soil samples over 5.5 km², with 10% completed as of July 14, 2021. This survey is funded by proceeds from 5,000 ounces of gold extracted in a previous pilot program, generating approximately 198 million rubles (around US$2.6 million). The company aims to identify new exploration targets, potentially expanding the mineralized area. Forward-looking statements caution against over-reliance on estimates regarding the survey outcomes.