Oro Verde reports ‘Bonanza’ gold grades from Topacio project
THE DRILL SERGEANT: Oro Verde (ASX: OVL) reported results from its recent round of sampling undertaken at the company’s Topacio gold project in southeastern Nicaragua.
The recent work has returned impressive gold assay results from the historical Dispute vein, which was first mined in the late 1890s.
Oro Verde sampled a one metre surface channel sample across the width of the Dispute vein, which assayed at 89.3 grams per tonne gold and greater than 100g/t silver.
The company explained a split of the grade sample pulp assayed at 92.9g/t gold, which it said had confirmed repeatability.
This is Oro Verde’s highest gold result to date from the Topacio gold project.
The company added it has taken a further three samples from the Dispute vein, two of which returned assays of 22.6g/t gold and 5.1g/t gold.
The Dispute vein is located within the Topacio resource area, in close proximity, and subparallel, to the Dos Amigos vein, from where the company recently reported similarly high grades of 33.6g/t gold, 38.5g/t gold and 23.5g/t gold from the Dos Amigos vein.
In addition to the impressive gold grades, re-assaying of earlier over-range silver assays returned values as high as 480g/t silver from the Topacio vein.
“Bonanza gold grades and visible panned gold, from the Dispute and East Mico vein areas, respectively, give us great encouragement that the existing gold resource grade may be underestimated,” Oro Verde managing director Trevor Woolfe said in the company’s announcement to the Australian Securities Exchange.
“This is highlighted by the consistent exceptional grades we have been reporting from our reconnaissance surface sampling during 2015.”
In 25 February 2015, Oro Verde announced the acceptance of an Option to Purchase Agreement over the Topacio gold project.
The project boasts a historical NI 43-101compliant Inferred Resource of:
2.7 million tonnes at 3.9/t gold, containing 340,345 ounces of gold, at a 1.5g/t gold cut-off.
Website: www.oroverde.com.au