Technically speaking this is both repoussage and chasing. The repoussage {punching} can be applied on either side of the work. The highlights have been chased in {usually cutting as in engraving, to cut details in casting and other work}. This extract from "Jewelery concepts and technology" by " Oppi Untracht" A weighty tome the BIBLE for first year students, says stuff better than I can.
