Orinoco Gold starts Cascavel exploration decline
THE DRILL SERGEANT: Orinoco Gold (ASX: OGX) has kicked off the next key phase of evaluation of the Faina Goldfields project with the commencement of a planned exploration decline at the company’s high-grade Cascavel project in central Brazil.
The company has designed the exploration decline to enable it to identify additional high-grade shoots, provide grade information from panel sampling within the decline, and assist with resource definition.
It also anticipates ore being crushed and stockpiled for future treatment.
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Location of exploration decline at Cascavel. Source: Company announcement
“The exploration decline has commenced from the Cascavel winze and will progress across strike and down-dip towards the end of the Mestre winze,” Orinoco Gold said in its ASX announcement.
“Stoping of high-grade gold shoots will be undertaken as the opportunity arises.
“The focus of the exploration decline is an initial resource area of approximately 250 metres by 300 metres.”
The company explained the development of the exploration decline at Cascavel forms part of its broader strategy to build a high-grade resource inventory at the Faina Goldfields project, initially to support a low-cost gravity gold operation.
Orinoco said it is confident sites within the broader Faina project such as Cascavel (OGX: 70 per cent) and the Sertão gold mine (OGX acquiring 100 per cent) offer resource potential from ongoing exploration and resource definition programs.
The company’s main focus is to demonstrate the viability of a central processing plant at Faina fed with ore from several nearby deposits as the basis for a long-term, low-cost gold business in
Brazil.
Email: info@orinocogold.com
Website: www.orinocogold.com