Mineral exploration company Oro Verde has appointed a drill contractor to undertake a diamond drilling program at the Topacio Gold Project located in southeaster Nicaragua.
Oro told the ASX that site preparations are underway, with the diamond drilling rig expected to be mobilised on site next week.
The drilling is part of the second year of the Farm-In Agreement between Newcrest International, a wholly owned subsidiary of Newcrest Mining Limited, and Oro Verde that was executed at the end of November 2015.
Managing Director Trevor Woolfe said the first phase of drilling will focus on a number of key locations along the Rebeca vein, which has an interpreted strike length of at least 3km. According to him, the initial program will incorporate approximately 1,650m of diamond core drilling with seven drill holes.
“The rapid approval of our water permit submission has cleared the way for drilling of the Rebeca Vein at Topacio to commence,” he added.
“We have also now confirmed our drill contractor with the rig expected to be mobilised to site next week. With all boxes now ticked, drilling will commence shortly after rig mobilisation.”