Oro Verde scores impressive rock chip results at Topacio
THE DRILL SERGEANT: Oro Verde (ASX: OVL) has received results from a second phase of reconnaissance sampling undertaken at the company’s Topacio gold project in Nicaragua.
Oro Verde said the sampling had returned further high-grade results, claiming to have enhanced the potential of the gold and silver mineralised vein system.
Reconnaissance rock chip samples collected from east of the Topacio resource area included:
Su Majestad vein – up to 14.1 grams per tonne gold and 58g/t silver;
Topacio NE vein – up to 6.6g/t gold and greater than 100g/t silver;
Canada vein – up to 3.9g/t gold.
Rock chip samples taken at the Mico – Lone Star vein area returned results of up to 3.2g/t gold.
Oro Verde explained its latest sampling campaigned was focused on assessment of the potential for both expansion of the existing gold resource, and for additional targets over the broader tenement area.
The company claims the gold and silver results it has attained from outcropping quartz veins to the northeast of the main resource area confirm the continuation of the mineralised system and indicate potential for resource expansion in this area.
A further technical assessment carried out by the company of a relatively unexplored area to the south of the tenement resulted in the identification of possible epithermal sinter zone, reflected by silica rich rocks.
The company explained a sinter zone to be a silica rich surface deposit, typically developed above a low sulphidation epithermal system.
These underlying epithermal systems often consists of vein or stockwork style mineralisation and can be enriched in gold and silver, with lesser base metal development.
“High-grade gold assays up to 14.1 grams per tonne gold from sampling to the northeast of the main Topacio resource area enhance our expectation for expansion of the gold inventory,” Oro Verde managing director Trevor Woolfe said in the company’s announcement to the Australian Securities Exchange.
“Additionally, an initial review of silica rich outcrops in the south of the tenement indicate the potential for an epithermal sinter zone, which are often associated with buried epithermal mineralised systems.
“This provides Oro Verde with a new target to test for a gold and silver enriched feeder system.”
Website: www.oroverde.com.au