Oro Verde (ASX:OVL) has commenced a first pass 1,800 metre reverse circulation drilling program on the Timon porphyry copper project in Chile.
Drilling will focus on a 1 to 2 kilometre by 3.5 kilometre section of the north-south trending Sierra El Timon ridge at 3,200 metres elevation.
The target has a moderate to strongly leached gossanous iron oxide cap, termed a “lithocap”, that usually defines and overlays the shallow oxide parts of porphyry copper sulphide systems, typically above the main copper-gold-molybdenum zone.
Recent geophysics identified a prominent area of demagnetisation, a typical response over a porphyry system, coincident with the lithocap, whilst induced polarisation data outlines a strong chargeability anomaly at least 1 kilometre wide and 3.5 kilometres long.
The anomaly appears to commence near surface at 50 metres and extend to depths of more than 800 metres, the limit of
the survey.
Stream sediment sampling over the project area also defined a copper anomaly over the ridge, specifically over the area of the central anomaly, and historic results of iron oxide lithocap samples also support the probable presence of a copper
porphyry system at depth.
Timon Ridge is a substantial porphyry copper target with the possibility of a copper sulphide blanket over primary sulphides at depth, and is potentially company making for Oro Verde.
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