Orinoco drill review expands Brazil mineralisation

THE DRILL SERGEANT: Orinoco Gold Limited (ASX: OGX) has identified a number of historical drill intercepts, which it says point to a substantial extension of the known mineralisation at the Sertão gold mine in central Brazil.

Orinoco is acquiring 100 per cent of the Sertão gold mine gold rights from Troy Resources (ASX: TRY).

Since it first announced the acquisition, Orinoco has made considerable progress in advancing the Sertão project, which is located in the Faina greenstone belt close to the company’s Faina goldfields project.

 

Drill results from outside the Sertão open pit. Source: Company announcement

 

The review has determined shallow oxide mineralisation remains open along strike from the existing open pit with results of:

2.65 metres at 22.43 grams per tonne gold from 6 metres; (GVD185)

7m at 4.85g/t gold from 8m; (SRB87)

6m at 6.64g/t gold from 12m; (SRC134)

High-grade intersections beneath the open pit highlight extensions of the Sertão mineralised structure including:

0.33m at 119.60g/t gold from 259.15m; (GVD080)

0.7m at 48.26g/t gold from 72.4; (GVD029)

0.62m at 22.97g/t gold from 92.26m; (SRD14)

6m at 2.09g/t gold from 75m; and (SRB130)

1m at 32g/t gold from 93m. (SRC141)

Orinoco is now reviewing the data to ascertain if JORC Code-compliant resources can be calculated from the existing drilling results.

Following the completion of this exercise, the company expects an exploration program will be planned to either delineate or increase the resources at Sertão with the aim of establishing a near-term production centre at Sertão as part of the broader development of the Cascavel gold project.

“These impressive historical drilling results add significant weight to our regional strategy at Sertão and Cascavel,” Orinoco Gold managing director Mark Papendieck said in the company’s announcement to the Australian Securities Exchange.

“The main driver for the Sertão acquisition was logistical and strategic impetus in accelerating the Cascavel development, however the strength of these results shows that Sertão could itself be a significant contributor to a regional production hub.

“We believe there is an opportunity to establish a JORC compliant resource at
Sertão in the short term which would strengthen the overall picture in terms of high-grade gold production opportunities in this region.”

Email: info@orinocogold.com

Website: www.orinocogold.com