Nativo confirms strong gold grades, shares pop

12th Jan 2026 12:37

(Sharecast News) - Nativo Resources said on Monday that surface trenching and sampling at its Bonanza mine in Peru confirmed gold grades consistent with historical data and supportive of plans to restart production, while also highlighting additional prospectivity across the wider Tesoro concession.

The AIM-traded gold-focussed company said initial assay results from a surface sampling programme covering around 400 hectares and about 250 samples validated earlier work by St Elias Mines and confirmed the geological vein model at Bonanza.

It said the programme involved 20 trenches excavated at 25-metre intervals to depths of up to 1.5 metres, with systematic channel sampling undertaken across exposed mineralised structures to assess grade continuity and variability along strike.

Nativo reported that near-mine surface sampling returned localised gold values of up to 19.5 grams per tonne, with average grades of around 10 grams per tonne, confirming high-grade mineralisation associated with narrow mesothermal veins close to existing Bonanza workings.

A total of 102 surface rock samples were analysed using fire assay with full quality assurance and control procedures at the Certimin laboratory in Lima.

The company said its qualified person reviewed both legacy and newly-commissioned datasets and identified three representative surface results that validate the historical grades reported at the Bonanza, Tesoro-01 and Tesoro veins.

It said mineralisation is structurally controlled by north-west to south-east trending shear zones and associated faulting, with three principal structural systems identified, including the Bonanza vein, each extending up to one kilometre in strike length.

The structures are considered favourable for lateral and vertical continuity, supporting the potential for sustained mining operations.

Nativo added that the combination of surface results and the completion of underground rehabilitation work provides a strong basis for mine planning and development.

Discussions with qualified mining contractors were under way as the company finalised its mine plan and advanced preparations to restart mining at Bonanza.

Underground sampling had also started, with 34 samples already taken from mine galleries and shafts and a further 117 samples planned to support grade control, refine the geological model and optimise mine planning for both Bonanza and the nearby Morrocota target.

"The sampling programme has confirmed, in the view of the directors, that the Bonanza vein has the required grades for mining to restart," said Stephen Birrell, chief executive of Nativo Resources.

"In addition, it is pleasing to see high surface grades south of Bonanza which indicate potential for at least one - and potentially two - further mine sites in addition to Morrocota."

At 1215 GMT, shares in Nativo Resources were up 30% at 0.52p.

Reporting by Josh White for Sharecast.com.