PERTH (miningweekly.com) – Gold major Newcrest has agreed to fund initial drill testing of priority targets at the Rebeca-Sahino zone, at the Topacio gold project, in Nicaragua.
ASX-listed Oro Verde told shareholders on Wednesday that Newcrest’s decision followed the successful completion of the Stage 1 exploration programme of the farm-in agreement over the Topacio project.
“We are extremely happy that Newcrest has decided to continue to the next phase of the farm-in agreement on the Topacia gold project in partnership with Oro Verde,” said MD Trevor Woolfe.
“We will now proceed to drill test the priority targets with initial focus on the Rebeca-Sahino zone. This area has demonstrated a strong geological, geochemical and geophysical signature suggesting potential for a buried epithermal gold system.”
Newcrest spent $500 000 on the Stage 1 exploration, which was focused on defining a mineralised system with the potential to host at least two-million ounces of gold resource.
The old major can earn a 51% interest in the project.
Edited by: Creamer Media Reporter
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