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Oro Verde Ltd.
Summary
| Project: | Topacio | |
|---|---|---|
| Deposit: | Topacio | |
| Location: | Nicaragua | |
| Commodities: | Gold | |
| Date: | 4/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-4-2018: Oro Verde Ltd. announces an Exploration/Drilling Update report for its Topacio deposit at the Topacio project. Drilling results incl. 17.55m @ 3.38g/t Au, 55.63g/t Ag from 16.95m. Oro Verde Limited (ASX: OVL) (“Oro Verde” or “the Company”) is p | |
| Resources: | (historic estimate only) | |
| CP/QP: | [Overall Report]: Doug Bright (Internal) | |
| ABSTRACT: | Oro Verde Limited (ASX: OVL) (“Oro Verde” or “the Company”) is pleased to announce high grade gold and silver intersections from Phase 3 diamond drilling program at the Topacio Gold Project in south-eastern Nicaragua (Figures 2 & 3). Drilling successfully intersected the targeted gold and silver-rich structures at shallow depths, returning high grades over significant widths. Of particular significance is the drill intersection at Mico Central which confirms the large width and high grade mineralisation identified in the overlying surface trench of 20.50m at 4.83g/t gold and 3.90g/t silver (ASX 7 February 2018), refer following schematic section, Figure 1. In addition, very high grade individual samples were recorded, with the Top 10 individual sample gold (Au) and silver (Ag) analytical results as follows: Oro Verde’s CEO, Mr. Doug Bright, commented: “We are pleased with the high grades intersected and good widths in places. All but one of the drill-holes returned gold and silver results in structures that coincide directly with favourable gold-hosting features recorded in surface trenching. We can confirm good predictable downdip continuity of veins below their surface exposures, reinforcing the efficiency of surface trenching as a reconnaissance tool. Our immediate plan is to undertake detailed structural analysis of the Topacio Resource Area to better define controls on mineralisation trends, such as shoots, plunges and repetitions within individual veins and the overall system. This will improve the mineralisation model, future drill-hole targeting and identification of, hopefully, shallow zones such as exemplified by the scale of our Mico Central success that will provide good potentially mineable and possibly open-pittable widths at high grades.” | |
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