Oro Verde encouraged by Topacio gold reconnaissance samples

THE DRILL SERGEANT: Oro Verde (ASX: OVL) has continued its run of good news from reconnaissance sampling being carried out on the company’s Topacio gold project in south-eastern Nicaragua.

An exposed quartz vein in the Dos Amigos pit returned high-grade gold and silver results from rock chip sampling, as high as 38.5 grams per tonne gold and 55g/t silver.

The Dos Amigos prospect consists of a shallow pit excavated by artisanal miners on a steeply dipping quartz vein.

Oro Verde indicated it is planning a more extensive and systematic sampling program within the pit on the strength of initial sampling, which it says has confirmed quartz veining contains high-grade.

Two rock chip samples from the vein returned:

Sample 48520 – 33.6g/t gold and 47.9g/t silver; and

Sample 48521 – 38.5g/t gold and 39.3g/t silver.

A third sample collected from an ore pile within the Dos Amigos pit returned:

Sample 48522 – 23.5g/t gold and 55.3g/t silver.

The recent work has also identified a new zone of gold mineralisation within the Topacio concession, around six kilometres along trend to the northeast.

Reconnaissance mapping and rock chip sampling from this area – known as Buena Vista – returned a gold grade of 2.9g/t in surface sub-crop.

The company intends to follow up these results with additional mapping and sampling of this new mineralised zone.

“Excellent gold grades of greater than an ounce per tonne from the latest sampling at Dos Amigos are the highest values that we have encountered so far in our work at Topacio,” Oro Verde managing director Trevor Woolfe said in the company’s announcement to the Australian Securities Exchange.

“Our expectation for an increased gold resource has also been boosted by the identification of a new gold target zone within the concession, some six kilometres along trend to the northeast at Buena Vista.”

Website: www.oroverde.com.au