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Oro Verde's Managing Director Wolf Martinick Answers Questions At One2One Investor Forum In Sydney

Oro Verde (ASX: OVL) is exploring for gold and copper in some highly prospective regions of Chile.

Wolf Martinick, chairman and managing director, fielded answers during Question Time at last night's Proactive Investors' 'Stars in 2012 Series' in Sydney, Wednesday 14th March.

The presentation on the night can be ACCESSED HERE.

Oro Verde is well funded for exploration with A$5 million in cash and share investments.

Projects include the Chuminga - advanced copper-gold project targeting 50-60 million tonnes at 1.0-1.1% copper, 0.40-0.50g/t gold, 0.5-1% zinc.

A second project is Vega, which is located in the famous El Indio Gold Belt - a high grade gold exploration play. First phase drilling under way - results awaited.

Question from the audience

What percentage of your time and money goes to looking for new opportunities?

Wolf Martinick

I would think that we spend about $300,000 to $400,000 a year looking for new projects. We are doing a lot of work looking for new projects.

We have already identified a number of projects that we would like to acquire, which is just a matter of negotiating the right terms - but we always want to be on the lookout - although we don't want this to become a distraction.

Chile does have the opportunity to find some good deposits, and so we want to stay looking.

Question from the audience

Referring to your Vega Gold Exploration Project, is that near Barrick Gold's Pascua-Lama?

Wolf Martinick

Yes. Its about 20 odd kilometres south of Pascua-Lama, while also being around 15 kilometres from the Argentinian border.

In terms of addresses, its a wonderful one.

(Proactive Investors NOTE for clarity: So far, about 50 million ounces of gold and 900 million ounces of silver resources have been discovered in the region, and therefore Vega very strategically located.)

Question from the audience

What is Chilean Government royalty?

Wolf Martinick

At the moment we are not paying a royalty. There won't be a royalty there. That's why often when you negotiate agreements with current owners, they expect a royalty.

If you buy, and most of the acquisitions are done because somebody already owns the ground - there is very little prospective open ground in Chile - other than the south of the country. But then everything is covered with a forest, so it's very difficult to see surface expression.