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Oro Verde Ltd.
Summary
| Project: | Makuutu | |
|---|---|---|
| Deposit: | Makuutu | |
| Location: | Uganda | |
| Commodities: | Rare Earth | |
| Date: | 12/23/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-12-2019: Oro Verde Ltd. announces an Exploration/Drilling Update report for its Makuutu deposit at the Makuutu project. Drilling results incl. 6.50m @ 1385ppm TREO from 4.70m. Oro Verde Limited (“Oro Verde” or “the Company”) (ASX: OVL) is pleased to pr | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Geoff Chapman (GJ Exploration Pty Ltd.) | |
| ABSTRACT: | Oro Verde Limited (“Oro Verde” or “the Company”) (ASX: OVL) is pleased to provide results from the final 12 diamond core drill holes (RRMDD 034 to RRMDD 046) of the 46-hole drilling program completed at the Makuutu Ionic Clay Rare Earth Elements (REE) project. These data included results for 5 broad spaced exploration holes from the untested target areas of EL1766, located up to 8 kilometres east of the extents of previously demonstrated mineralisation. Commenting on the completion of the drilling program and envisaged development pathway, Oro Verde Technical Director Dr Marc Steffens said: “The company is excited to receive results confirming REE mineralisation in EL1766 where all exploration holes – which were placed opportunistically on sidings of existing access tracks – intercepted REE mineralisation with grades exceeding 500 ppm TREO. The company plans to define these newly identified mineralised zones with a focused drilling program in 2020. Additionally, the final results from drilling of the Makuutu Central Zone all demonstrated intercepts with grade exceeding 500 ppm TREO. Overall, 44 of the 46 drill holes completed in this program have returned TREO grades exceeding 500 ppm”. “With numerous areas of rare earth mineralisation having been identified over the large project area, a potential low-CAPEX project configuration under examination consists of several low-cost satellite processing (leaching/desorption) plants, from which an enriched liquor will be pumped to a central hub for production of a saleable, mixed rare earth product. Further studies into these concepts are in progress.” | |
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