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Oro Verde Ltd.
Summary
| Project: | Topacio | |
|---|---|---|
| Deposit: | Su Majestad, Topacio East | |
| Location: | Nicaragua | |
| Commodities: | Gold | |
| Date: | 8/1/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-8-2017: Oro Verde Ltd. announces an Exploration/Drilling Update report for its Su Majestad, Topacio East deposit at the Topacio project. Drilling results incl. 9.25m @ 2.21g/t Au from 32.3m. Oro Verde Limited (ASX: OVL) (“Oro Verde” or “the Company”) is | |
| 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 assay results up to 7.43g/t gold (Au) have been received from the first three holes of the Phase 2 drilling completed recently at the Topacio Gold Project, located in southeastern Nicaragua (Figure 4). Assay results from the remaining three drill holes in the Phase 2 program are expected over the coming weeks. 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 trench results1 . Oro Verde’s Managing Director, Mr. Trevor Woolfe, commented “I am very pleased that drilling below our recent trenches has confirmed depth continuity of the veins and associated gold mineralisation in the Dispute Vein, as well as two previously undrilled veins to the east of the Topacio gold resource. We expect results from the remainder of the Phase 2 program to reflect the high gold grades recently announced from surface trenching.” 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 were announced to the market on 20 July 20171 . | |
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