Operations Update: Bonanza Vein
Summary by AI BETAClose X
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
16 April 2026
Nativo Resources Plc
("Nativo" or the "Company")
Operations Update: Bonanza Vein
Further High-Grade Gold and Silver Results up to 73.4 g/t Au and 8.02 g/t Ag Confirm Bonanza Vein Upside
Nativo Resources plc (LON: NTVO), the Peru-focused gold mining company, is pleased to announce the results of additional laboratory analyses from underground selective vein chip samples collected during late March and April 2026 at the Bonanza Gold Mine ("Bonanza"), part of the Company's wholly owned Tesoro Gold Concession in southern Peru.
These results build upon the high-grade underground sampling results announced on 16 March 2026 (including bonanza grades up to 40.2 g/t Au) and the operational update of 23 March 2026, further reinforcing the presence of high-grade mineralisation within the Bonanza vein system.
Highlights
· Exceptional high-grade gold assays returned up to 73.4 g/t Au, including an additional high-grade sample of 11.8 g/t Au
· Associated silver values of:
o 8.02 g/t Ag
o 3.03 g/t Ag
o 2.01 g/t Ag
· Further confirmation of bonanza-grade mineralisation within a structurally controlled vein system
· Results support the Company's interpretation of high-grade shoots within the Bonanza vein, consistent with previously reported underground sampling
Summary of New Assay Results
|
Sample ID |
Au (g/t) |
Ag (g/t) |
Depth (BGL) (m) |
|
900-004 |
73.40 |
8.02 |
5 |
|
900-002 |
11.80 |
2.01 |
7 |
|
900-001 |
1.44 |
3.03 |
7 |
|
900-006 |
2.40 |
3.01 |
27 |
|
900-005 |
2.32 |
1.01 |
22 |
|
900-003 |
0.62 |
1.01 |
6 |
These results were generated from certified laboratory analysis of mineralised material collected from the Bonanza mine workings.
Geological Interpretation
The newly reported results continue to demonstrate the variable but locally very high-grade nature of mineralisation within the Bonanza vein system. The presence of grades exceeding 70 g/t Au is characteristic of bonanza-style shoots, typically associated with:
· Localised dilation zones within shear-hosted quartz veins
· Structural intersections and zones of enhanced permeability
· Repeated hydrothermal mineralising events
The distribution of these high-grade samples, when viewed alongside the updated vein model (see Figure 1), indicates:
· Strong correlation between high-grade zones and interpreted ore shoots, with high grades being seen in the S2 shoot between 15 to 25m below ground surface
· Continuity of mineralisation from surface into underground workings
· Potential for down-plunge extensions of high-grade shoots
Figure 1: Longitudinal section of the Bonanza vein and the geological interpretation of the identified mineralised shoots.
 |
Integration with Mine Development
These results complement:
· The March underground channel sampling programme, which returned grades up to 40.2 g/t Au
· Material accumulated from earlier mine development grading up to approximately 6 g/t Au (Poruña sampling* estimates)
Together, the datasets confirm:
· A robust grade distribution with high-grade outliers
· Suitability for selective narrow-vein mining (resue mining**)
· Increasing confidence in targeting high-margin zones early in production
* "Poruña" refers to a traditional field assay tool used for quick, visual estimation of gold content in a sample - not a formal assay technique or analytical result. It is a visual/empirical grade estimation tool used in artisanal mining to quickly identity vein material that is worth mining or not. These are preliminary estimates and actual lab results may differ significantly from Poruña sampling.
** Resue mining is a Peruvian term for an underground selective mining technique commonly used to extract very narrow, high-grade ore veins, such as gold or polymetallic veins found in parts of Peru. It is especially useful where the ore body is only a few tens of centimetres to about 1 m thick.
Surface Stockpile and Channel Sampling Context
Additional sampling programmes were conducted across:
· Underground channels (typically low-grade background: ~0.06-0.34 g/t Au)
· Surface stockpiles (averaging ~0.6-0.9 g/t Au)
The results of channel sampling highlight the strong grade contrast between bulk material and high-grade vein shoots, reinforcing the importance of selective mining. Nativo currently has accumulated over 20 tonnes of vein material derived from mine development which is stockpiled at surface.
Implications for Mine Planning
The Company believes these results:
· Strengthen the case for early-stage selective mining of high-grade shoots
· Support the current strategy of:
o Minimising dilution
o Prioritising high-grade zones near existing workings
· Enhance the potential for early cash flow generation from limited tonnage, high-grade production
Next Steps
The Company will:
· Continue systematic underground sampling and development
· Expand mapping of high-grade shoots along strike and at depth
· Integrate all assay data into the evolving 3D geological model
· Progress towards initial production and sales in Q2 2026
Stephen Birrell, Chief Executive Officer of Nativo Resources plc, commented:
"It's called Bonanza for a reason! These latest assay results continue to demonstrate the exceptional grade potential of the vein system, with values of up to 73.4 g/t gold confirming the presence of bonanza-grade mineralisation. We have also been able to confirm the presence of silver within the veins, a valuable by-product of the gold-dominant Bonanza deposit.
Importantly, these high-grade results are consistent with our geological model of structurally controlled ore shoots and align closely with both historical and recent underground sampling.
As we advance development, our focus remains on selectively targeting these high-grade zones to maximise early production value while continuing to build a comprehensive understanding of the system across the Tesoro concession."
For further information please contact:
|
Nativo Resources Stephen Birrell, Chief Executive Officer |
Via Vigo Consulting |
|
Zeus (Nominated Adviser and Joint Broker) James Joyce James Bavister |
Tel: +44 (0)20 3829 5000 |
|
Axis Capital Markets (Joint Broker) Richard Hutchison Lewis Jones |
Tel: +44 (0)20 3026 0320 |
|
Vigo Consulting (Investor Relations) Ben Simons Seb Weller |
Tel: +44 (0)20 7390 0234 |
About Nativo Resources plc
Nativo has interests in gold projects in Peru. The Company's strategy is based on three core activities: primary gold mining, gold ore processing, and the recovery of gold from tailings. The Company has already acquired or optioned several projects for development and has identified additional opportunities for expansion. Nativo's nearest-term objective is to scale operations on the Tesoro Gold Concession, focusing on the Bonanza and Morrocota mines. Nativo may allocate portions of free cash flow from mining and processing activities and future fundraises to Bitcoin purchases, and may consider holding Bitcoin as a long-term treasury reserve asset.
Qualified Persons Statement
The scientific and technical information contained within this announcement has been reviewed and approved by Harold Villena Carhuaricra, a geological engineer with over 15 years' experience. Mr Villena Carhuaricra has a master's degree in Geological Processes and Resources from The Complutense University of Madrid and is registered and certified by AusIMM Chartered Professionals. Mr Villena Carhuaricra has worked for Cerro de Pasco Resources and Compañía Minera Volcan among other companies in Peru. He is a Qualified Person as defined by the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009.
Follow us on social media:
LinkedIn: https://uk.linkedin.com/company/nativoresources-plc
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Glossary
|
Ag |
Silver |
|
BGL |
Below Ground Level |
|
Au |
Gold |
|
cm |
Centimetres |
|
g/t |
Grams per tonne |
|
m |
Metres |
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