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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	OVL
Latest Price:	0.26 (8.33% )
52-week High:	0.26
52-week Low:	0.06
Market Cap:	41.06M

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Oro Verde Full Oro Verde profile here

Oro Verde (ASX: OVL), formally Ezenet (ASX: EZE), aims to acquire two prospective copper and gold prospects in Chile.

The Chuminga project is in the coastal area of northern Chile which hosts highly prospective copper mines such as Mantos Blancos, Chuquicamata and Escondida. The Vega project is located in Chile's prolific El Indio Gold Belt which has had discoveries in excess of 50 million ounces of gold and 900 million ounces of silver.

Ezenet rings in changes ahead of Chilean exploration push

Wednesday, August 10, 2011

Ezenet (ASX: EZE) has announced significant changes reflecting its transformation to a mineral resources company with a name change to Oro Verde Limited in the near future.

The company has restructured its management and board of directors, appointing current executive chairman Dr Wolf Martinick as managing director, Dr Brad Farrell as technical director, and two general managers for its Australian and Chilean operations.

Dr Martinick, who will remain as chairman, has replaced Ross O’Dea who continues as an independent non executive director of the company together with David Ward.

Dr Martinick is an environmental scientist with a track record of 40 years in mineral exploration and mining projects around the world and was recently a founding director of Weatherly International Plc (LON: WTI), an AIM listed company that is developing copper mines in Namibia.

He has also recently negotiated the agreements for the company’s acquisition of the Chuminga and Vega Projects in Chile.

Dr Farrell has been responsible for identifying the company’s Chilean projects, bringing expertise to the company at a very important stage in its development.

Farrell was the founder chairman and managing director of Basin Minerals Limited and was responsible for the discovery of the Douglas world class mineral sands deposit that was acquired by Iluka Minerals (ASX: ILU) in 2002.

In addition to the changes to the board of directors, the company has appointed John Traicos as general manager based in Perth and Juan Jose Gutierrez -Velez as general manager of Green Mining Ltda, the Company’s wholly owned subsidiary in Santiago, Chile.

Simon Watson has resigned as joint company secretary. Brett Dickson continues as company secretary and chief financial officer.

The Vega Project is a key plank of the company's Chilean mining interests and will complement its advanced Chuminga copper-gold project, which the company will be developing in the second region of Chile together with the well known Errazuriz Hochschild Group of Companies.

Highlighting the prospectivity of the region, Barrick Gold Corporation (NYSE: ABX, TSE: ABX), the dominant miner in the region, has discovered around 50 million ounces gold and 900 million ounces silver.

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