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Oro Verde Ltd.
Summary
| Project: | Topacio | |
|---|---|---|
| Deposit: | Mico West | |
| Location: | Nicaragua | |
| Commodities: | Gold | |
| Date: | 8/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 14-8-2017: Oro Verde Ltd. announces an Exploration/Drilling Update report for its Mico West deposit at the Topacio project. Drilling results incl. 2.85m @ 15.59g/t Au from 21.25m. Oro Verde Limited (ASX: OVL) (“Oro Verde” or “the Company”) is pleased to a | |
| Resources: | (historic estimate only) | |
| CP/QP: | [Overall Report]: Trevor Woolfe (Internal) | |
| ABSTRACT: | Oro Verde Limited (ASX: OVL) (“Oro Verde” or “the Company”) is pleased to announce that bonanza assay results up to 32.3g/t gold (Au) have been received from the last three holes of the Phase 2 drilling completed recently at the Topacio Gold Project, located in southeastern Nicaragua (Figure 4). This second phase of drilling in 2017 was designed to test for gold mineralisation in veins that lie outside, but near, the historical 340,000oz Topacio gold resource (Figure 1) and to confirm the continuity of gold mineralisation at depth below recent high grade trench results1 . Oro Verde’s Managing Director, Mr. Trevor Woolfe, commented “The bonanza gold grades intersected at Mico West provide significant encouragement for expansion of the existing Topacio gold resource. This high grade gold intercept is located around 500m to the west-southwest along strike from the nearest resource drilling at Mico East. Planning is underway to test the undrilled segment in between and a number of other identified high grade targets.” The Phase 2 program consisted of 402.16 metres of diamond drilling (Table 2), testing below high grade surface gold results on four key targets – the Su Majestad Vein, Topacio East Extension Vein, Dispute/Dos Amigos Veins and the Mico West Vein (Figures 1 and 2). The holes were relatively shallow to assess the continuity of the high grade veins approximately 30-50 metres below surface. Surface trenches above the proposed drill hole locations were excavated and channel sampled, to confirm orientation of the steep dip of the veins and their width. The assay results from trenches were announced to the market on 20 July 20171 . | |
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