Orinoco Gold triples Cascavel strike length
THE DRILL SERGEANT: Recently completed drilling by Orinoco Gold (ASX: OGX) has extended the size of a gold-bearing quartz carbonate vein system at the Cascavel target, situated within the company’s 70 per cent-owned Curral de Pedra project, located in the central Brazilian state of Goiás.
Orinoco said the drilling has more than tripled the known strike length of the structure from 500 metres to 1.6 kilometres.
The Cascavel target is the first on the Curral de Pedra tenement package Orinoco has evaluated.
The company is currently conducting a program of diamond drilling at Curral de Pedra, as it works towards defining the geological continuity of a large gold-bearing shear zone-hosted quartz carbonate vein system.
This system has already been intersected on a consistent basis by the company by drilling over 620m down-dip and 500m along strike.
Two diamond holes (CDP013 & CDP016) have been completed to the south of the previously-defined 500m of strike length.
Orinoco claims both holes intersected the structure that hosts the gold at the Cascavel target.
Plan view showing completed holes. Source: Company announcement
The company hydrothermally altered the intersected quartz carbonate veins, which it said resulted in them visually appearing to contain minerals known to be associated with gold mineralisation at Cascavel.
Hole CDP016 was drilled approximately 400m south-east of the previously defined zone and hole CDP013 drilled approximately 1.1km south-east.
Orionoca said t was now awaiting assays from these holes and from rock chip sampling of the Cascavel target strike extension.
Having defined both down-dip and along strike extensions to the structurally controlled system at Cascavel, Orino said it intends focusing the remainder of the drilling in the current program on defining the controls on the high-grade ore shoots.
“The step-out drilling has clearly demonstrated the potential size of the Cascavel target, with the hosting structure and gold-bearing zones now intersected consistently over an extensive area of some 1.6 kilometres by 620 metres,” Orinoco Gold managing director Mark Papendieck said in the company’s announcement to the Australian Securities Exchange.
“For drilling to consistently intersect the altered stacked quartz vein package over 1.6 kilometres of strike shows the geological continuity of what appears to be a large hydrothermally altered system.”
Orinoco shares had jumped 7.14 per cent to 30 cents.