Summary Overview of Vega Project
Oro Verde Limited (“OVL”) has a 100% interest in the Vega Project comprising 10 gold Exploration Concessions covering an area of 28km2 located 22km north of the El Indio Gold Mining Centre in the Fourth region of Chile through an agreement with the Chilean company Compania Calcia Limitada.
· The Vega Project lies in the El Indio Gold Belt in which there are recent large, past (El Indio - Tambo) and present (Pascua Lama - Veladero) gold mining centres. This region has seen the discovery of approximately 50 million ounces of gold and 900 million ounces of silver resources by primarily Barrick Gold Corporation, the dominant miner in the region.
· The exploration target is an undrilled, highly anomalous epithermal system emplaced within the Sancarron caldera ring fault, a geological setting similar to other nearby late Tertiary (5-7 million year old) gold bearing volcanic and volcano-clastic rocks. Twenty kilometres to the south of Vega lies El Indio which produced 4.5 million ounces of gold, 25 million ounces of silver and 472,000 tonnes of copper from underground and open pit operations in its 23 year life from 1979 to 2002 (16.8 million tonnes mined at an overall recovered grade of 8.33 g/t Au, 46.3 g/t Ag and 2.81% Cu).
· Clear drill targets are evident from a CSAMT geophysical survey carried out over the highly anomalous epithermal system and are a priority for the current RC drill program comprising 8 holes for 2,500m
