Oro Verde delivers further broad copper, gold mineralisation at Chuminga 

(MENAFN - ProactiveInvestors - Australia) Oro Verde (ASX: OVL) continues to receive confirmation of the widespread copper and gold mineralisation at its Chuminga project in Chile.

The fourth drill hole, SD-2, returned an assay of 48 metres at 0.78% copper and 0.09 grams per tonne (g/t) gold.

It targeted the same copper-iron oxide breccia mineralisation seen in the first diamond core hole, which had returned 61 metres at 0.90% copper and 0.15g/t gold and was noted to be thickening down dip from surface to the east.

Oro Verde is testing around 300 metres of mineralised breccia in the current first phase 12-hole, 2,140 metre drilling program.

Chuminga progress

Four key holes have now been drilled at Chuminga as vertical holes on four sections with assay results returned on all four holes.

A further two angle holes are planned on each of these sections subject to a change out of the current drilling rig to achieve this.

An infill stream sediment program is currently following up previously delineated anomalies and the alteration features delineated by ASTER satellite imagery. This will delineate targets for further detailed evaluation.

Chuminga, in which Oro Verde holds a 20% interest, has an exploration target of 50 to 60 million tonnes of between 1% and 1.1% copper, 0.3 to 0.4 grams per tonne gold and 0.5 to 1% zinc, suitable for bulk mining.

It is strategically located in a region hosting several world class copper mines including Mantos Blancos, Chuquicamata and BHP Billiton's (ASX: BHP) Escondida.