REG - Nativo Resources Plc - Operations Updates: High-Grade Gold Results
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RNS Number : 7502W Nativo Resources Plc 16 March 2026
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 March 2026
Nativo Resources Plc
("Nativo" or the "Company")
Operations Updates: High-Grade Gold Results
High-Grade Gold Results at Bonanza Confirm Vein Potential and Mine Plan
Nativo Resources plc (LON: NTVO), which is focused on near-term gold mining
and processing projects in Peru, is pleased to announce the results of a
recent underground sampling campaign undertaken at the Bonanza Vein within the
Bonanza Gold Mine ("Bonanza"), including the Tesoro Shaft area.
The results confirm the presence of high-grade gold mineralisation, including
bonanza-grade assays, and support the Company's interpretation of a plunging
high-grade ore shoot within the vein system. These results will be
incorporated into the Company's ongoing underground development and mining
activities, which have restarted and are underway.
Highlights
· Bonanza-grade gold confirmed with underground sampling returning up
to 40.2 g/t Au,
· Multiple high-grade intercepts (>5-10 g/t Au) confirm the presence
of a high-grade mineralised shoot within the Bonanza Vein system
· The Directors believe these results are consistent with historical
underground assays, including 41.4 g/t Au, 27.7 g/t Au and 26.7 g/t Au,
demonstrating strong grade continuity
· 147 systematic underground channel samples, newly collected in
January 2026 from between 5m and 45m beneath surface, along the vein provide
strong geological support for the 3D modelling
· Gold occurs predominantly in the fine fraction, suggesting standard
processing routes may be suitable, potentially reducing metallurgical risk
· The Directors believe these results support the Company's selective
underground mining strategy and the planned initial Mining Phase targeting
high-grade shoots while minimising dilution
· Significant exploration upside remains along strike and at depth,
where mineralised shoots may continue beyond currently developed underground
levels
Sampling Programme
The recent underground sampling programme was undertaken within existing mine
workings along the Bonanza Vein, focusing on areas surrounding the Tesoro
Shaft and adjacent development levels. Samples were submitted to SGS Peru, an
internationally recognised laboratory, for gold assay analysis.
The results demonstrate a strong clustering of high-grade gold values,
including several samples exceeding 5 g/t Au, with a peak value of 40.2 g/t
Au. Refer to Figure One: Mine Cross Section
Figure 1: To Scale schematic of the Bonanza Mine with 2026 grade results
annotated
Table 1: Grade Distribution Table
Grade Range Samples Approx %
<0.1 g/t ~68 ~43%
0.1-0.5 g/t ~55 ~35%
0.5-1 g/t ~21 ~13%
1-5 g/t ~7 ~4%
>5 g/t ~8 ~5%
These results complement historical sampling undertaken in 2024 by Minares
South S.R.L., demonstrating strong grade continuity. These historical
high-grade results include:
· 41.42 g/t Au
· 27.7 g/t Au
· 26.7 g/t Au
· 13.1 g/t Au
Sample assay results from the 2026 underground sample campaign Table 2 below.
SAMPLE WIDTH_m DIP Au_g/t Au_ppb
6901 0.27 2.65 0.60 604
6902 0.29 8.41 0.41 405
6903 0.42 0.66 0.29 292
6904 0.37 -0.96 0.17 173
6906 0.43 -2.63 0.12 117
6907 0.38 2.28 0.52 517
6908 0.64 -2.16 0.04 43
6909 0.53 2.82 0.12 123
6911 0.45 6.61 0.04 44
6912 0.77 3.58 0.06 63
6913 0.54 -1.98 0.06 58
6914 0.74 7.75 0.03 31
6916 0.44 1.59 0.05 53
6917 0.38 1.82 6.20 6,201
6918 0.40 -1.06 0.28 281
6919 0.28 7.85 40.20 40,200
6921 0.32 7.57 0.62 624
6922 0.31 12.98 0.99 989
6923 0.31 5.94 0.04 39
6924 0.32 2.34 0.93 930
6926 0.41 7.83 0.02 15
6927 0.32 10.97 2.63 2,632
6928 0.45 8.08 0.02 17
6929 0.35 7.11 0.30 296
6931 0.45 7.84 0.02 18
6932 0.23 8.01 0.16 160
6933 0.28 6.84 0.04 39
6934 0.18 7.10 0.47 470
6936 0.45 -10.63 0.01 12
6937 0.21 -32.93 0.06 57
6938 0.40 -4.07 0.01 10
6939 0.36 -58.82 0.14 136
6941 0.45 14.43 0.10 102
6942 0.28 -50.13 0.70 699
6943 0.56 2.37 0.05 46
6944 0.23 -3.73 3.33 3,331
6946 0.38 18.41 5.40 5,397
6947 0.38 39.45 0.52 520
6948 0.42 20.16 0.94 944
6949 0.49 4.78 0.23 228
6951 0.32 44.97 0.24 235
6952 0.31 6.49 0.05 46
6953 0.26 87.36 0.18 179
6954 0.50 2.49 0.12 120
6956 0.24 47.35 0.17 172
6957 0.44 27.73 0.08 75
6958 0.23 74.69 0.47 465
6959 0.55 17.22 0.08 80
6961 0.20 72.28 0.18 183
6962 0.53 8.62 0.04 41
6963 0.20 86.71 0.24 241
6964 0.47 16.95 0.06 64
6966 0.24 -37.51 0.33 325
6967 0.47 8.21 0.17 173
6968 0.26 -53.10 0.67 670
6969 0.66 1.54 0.65 645
6971 0.13 53.06 0.37 368
6972 0.45 18.00 0.03 29
6973 0.25 60.08 0.27 267
6974 0.47 15.16 0.23 233
6976 0.24 6.94 0.06 60
6977 0.85 3.89 0.13 126
6978 0.57 -8.20 0.25 252
6979 0.26 -3.17 0.07 66
6981 0.39 1.82 0.18 178
6982 0.36 52.51 0.21 214
6983 0.42 50.81 0.15 150
9601 0.43 12.68 0.12 124
9602 0.19 11.62 1.10 1,099
9603 0.32 0.13 0.19 185
9604 0.20 -14.90 0.19 191
9606 0.17 -33.96 0.50 496
9607 0.20 -35.63 0.07 65
9608 0.22 -24.18 0.04 38
9609 0.29 -5.16 0.02 18
9611 0.42 -1.34 0.24 240
9612 0.24 24.55 0.62 624
9613 0.20 41.24 1.10 1,102
9614 0.18 54.92 0.09 94
9616 0.23 14.10 0.72 720
9617 0.35 10.97 0.18 179
9618 0.38 11.65 0.23 230
9619 0.34 8.28 0.48 481
9621 0.54 -1.85 0.65 650
9622 0.33 13.26 0.41 410
9623 0.37 -3.66 0.08 75
9624 0.41 3.38 0.02 17
9626 0.50 11.03 0.05 53
9627 0.26 -17.52 0.02 18
9628 0.37 11.41 0.05 51
9629 0.37 0.95 0.08 78
9631 0.39 7.51 0.11 111
6977 0.85 3.89 0.13 126
6978 0.57 -8.20 0.25 252
6979 0.26 -3.17 0.07 66
6981 0.39 1.82 0.18 178
6982 0.36 52.51 0.21 214
6983 0.42 50.81 0.15 150
9601 0.43 12.68 0.12 124
9602 0.19 11.62 1.10 1,099
9603 0.32 0.13 0.19 185
9604 0.20 -14.90 0.19 191
9606 0.17 -33.96 0.50 496
9607 0.20 -35.63 0.07 65
9608 0.22 -24.18 0.04 38
9609 0.29 -5.16 0.02 18
9611 0.42 -1.34 0.24 240
9612 0.24 24.55 0.62 624
9613 0.20 41.24 1.10 1,102
9614 0.18 54.92 0.09 94
9616 0.23 14.10 0.72 720
9617 0.35 10.97 0.18 179
9618 0.38 11.65 0.23 230
9619 0.34 8.28 0.48 481
9621 0.54 -1.85 0.65 650
9622 0.33 13.26 0.41 410
9623 0.37 -3.66 0.08 75
9624 0.41 3.38 0.02 17
9626 0.50 11.03 0.05 53
9627 0.26 -17.52 0.02 18
9628 0.37 11.41 0.05 51
9629 0.37 0.95 0.08 78
9631 0.39 7.51 0.11 111
6977 0.85 3.89 0.13 126
6978 0.57 -8.20 0.25 252
6979 0.26 -3.17 0.07 66
6981 0.39 1.82 0.18 178
6982 0.36 52.51 0.21 214
6983 0.42 50.81 0.15 150
9601 0.43 12.68 0.12 124
9602 0.19 11.62 1.10 1,099
9603 0.32 0.13 0.19 185
9604 0.20 -14.90 0.19 191
9606 0.17 -33.96 0.50 496
9607 0.20 -35.63 0.07 65
9608 0.22 -24.18 0.04 38
9609 0.29 -5.16 0.02 18
9611 0.42 -1.34 0.24 240
9612 0.24 24.55 0.62 624
9613 0.20 41.24 1.10 1,102
9614 0.18 54.92 0.09 94
9616 0.23 14.10 0.72 720
9617 0.35 10.97 0.18 179
9618 0.38 11.65 0.23 230
9619 0.34 8.28 0.48 481
9621 0.54 -1.85 0.65 650
9622 0.33 13.26 0.41 410
9623 0.37 -3.66 0.08 75
9624 0.41 3.38 0.02 17
9626 0.50 11.03 0.05 53
9627 0.26 -17.52 0.02 18
9628 0.37 11.41 0.05 51
9629 0.37 0.95 0.08 78
9631 0.39 7.51 0.11 111
Geological Interpretation
The Bonanza Vein is interpreted as a narrow but persistent structurally
controlled gold-bearing vein, where mineralisation is concentrated in
localised high-grade shoots or dilation zones along the structure.
The distribution of grades shows a high degree of variability, which is
characteristic of narrow gold-vein systems where mineralisation is controlled
by structural openings and multiple hydrothermal mineralisation events.
The grades obtained during the 2026 underground sampling campaign are
consistent with historical underground sampling results from 2024 and are
generally higher than grades reported in previous surface sampling campaigns.
Integration of geological mapping and analytical results indicates that
mineralisation is primarily controlled by the main vein structure and
associated shear zones, suggesting both lateral and vertical continuity of the
mineralised system. In addition, geophysical data, from the St Elias studies
in 2009 -2010, indicates that the mineralised shoots may extend to depths of
up to approximately 300 metres below surface.
These observations support the Company's preliminary geological model, which
interprets the deposit as a structurally controlled gold vein system located
within the Nazca-Ocoña metallogenic belt.
Mine Planning Implications
The Company believes the results support the mine plan for the Bonanza Vein,
which is using selective underground mining methods targeting high-grade
shoots while minimising dilution, also known as "Resue Mining(*)".
The Tesoro Shaft area represents a priority development target where current
data indicates the presence of a high-grade ore shoot. Future development will
focus on following the interpreted down-plunge continuation of the
mineralisation as well as testing potential additional shoots along strike.
These results will be incorporated into ongoing geological modelling and will
assist in finessing the mine plan, which is currently being executed with
mining operations already initiated at Bonanza.
Next Steps
The Company plans to:
· Commence production and ore sales in Q2 2026
· Continue underground development along the Bonanza Vein
· Continue channel and face sampling along the interpreted shoot plunge
· Test potential extensions of the high-grade mineralisation both
down-plunge and along strike while developing the shafts and galleries
· Integrate results into updated mine planning and production
scheduling
· Update the three-dimensional geological model of the Tesoro Vein
· Develop a preliminary mineral resource estimate based on the recently
acquired geochemical data
· Initiate preliminary metallurgical studies to evaluate ore behaviour
and optimise metal recovery
Stephen Birrell, Chief Executive Officer of Nativo, commented:
"The high-grade gold samples returned from the underground sampling campaign
reinforce our confidence in the geological potential of the Bonanza Gold Mine,
the structural continuity of mineralisation, and the extended mine
opportunities across the Tesoro Concession.
We look forward to incorporating these results into the mine plan, enabling us
to unlock the mine's potential as we progress towards the recommencement of
production and ore sales."
(*)Resue mining is 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.
For further information please contact:
Nativo Resources Via Vigo Consulting
Stephen Birrell, Chief Executive Officer nativo@vigoconsulting.com (mailto:nativo@vigoconsulting.com)
Zeus (Nominated Adviser and Joint Broker) Tel: +44 (0)20 3829 5000
James Joyce
James Bavister
AlbR Capital Limited (Joint Broker) Tel: +44 (0)20 7469 0930
Duncan Vasey
Lucy Williams
Rose Greensmith
Vigo Consulting (Investor Relations) Tel: +44 (0)20 7390 0234
Ben Simons nativo@vigoconsulting.com (mailto:nativo@vigoconsulting.com)
Peter Jacob
Anna Sutton
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
intends to allocate portions of free cash flow from mining and processing
activities and future fundraises to Bitcoin purchases, and to hold Bitcoin as
a long-term treasury reserve asset.
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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.
Glossary
Au Gold
g/t Grams per tonne
m metres
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