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Orinoco Gold Ltd.
Summary
| Project: | Faina | |
|---|---|---|
| Deposit: | Cascavel | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 10/23/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 23-10-2017: Orinoco Gold Ltd. announces a Resource Estimation report for its Cascavel deposit at the Faina project. Initial resource estimate for Cascavel deposit. Orinoco Gold Limited (ASX: OGX) (Orinoco or the Company) is pleased to advise that it has c | |
| Resources: | (Resource, Inf.): 4.5Kt @ 15.4g/t Au for 2.2Koz Au contained at Cascavel | |
| CP/QP: | [Resources]: Thiago Vaz Andrade (Internal) | |
| ABSTRACT: | Orinoco Gold Limited (ASX: OGX) (Orinoco or the Company) is pleased to advise that it has completed a maiden Mineral Resource Estimate (MRE) and associated Exploration Target (ET) in accordance with the JORC Code (2012) for its 100%-owned Cascavel Gold Mine (Cascavel), located in the Goiás State in central Brazil. Cascavel forms part of Orinoco’s broader Faina Goldfields Project (Faina Project), and the Cascavel Mineral Resource is the second Mineral Resource to be estimated within the Faina Project this year following the maiden high-grade Mineral Resource reported in June for the Sertão Gold Project (see ASX Release, 13 June 2017). The MRE, the Company’s first-ever MRE for Cascavel, comprises 4,500 tonnes at an average grade of 15.4 g/t Au for 2,200 ounces of contained gold at a cut-off grade of 3 g/t Au (see Table 1). The Cascavel MRE was prepared by Orinoco’s Brazilian-based geological team and has been reported in accordance with the requirements of the JORC Code (2012). It has been peer reviewed by the Company’s external consultant, Mining Plus Pty Ltd (Mining Plus). The MRE covers only that portion of the Cascavel lode which has been opened up with underground mine development, and therefore covers an area limited to ~125m along strike and ~125m down-dip. Given that the mineralisation remains open both down-dip and along strike, Mining Plus has calculated a maiden ET covering the area immediately down-plunge of the Cascavel lode and part of the adjacent Mestre lode – areas to be targeted for mining soon. | |
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