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Orinoco Gold Ltd.
Summary
| Project: | Faina | |
|---|---|---|
| Deposit: | Sertao | |
| Location: | Brazil | |
| Commodities: | Gold | |
| Date: | 6/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Environmental Approval | |
| Report details: | 13-6-2017: Orinoco Gold Ltd. announces a Resource Estimation report for its Sertao deposit at the Faina project. Initial resource estimate for Sertao. Orinoco Gold Limited (ASX: OGX) (Orinoco or the Company) is pleased to advise that it has completed | |
| Resources: | (Resource, Total): 223111t @ 6.9g/t Au for 49268oz Au at Sertao | |
| 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 high-grade JORC 2012 compliant Mineral Resource estimate for its 100%-owned Sertão Gold Project, located near its Cascavel Gold Project in Goiás State in central Brazil. The JORC Mineral Resource estimate, the Company’s first-ever JORC mineral resource statement, comprises 223,111 tonnes at an average grade of 6.9 g/t Au for 49,268 ounces of contained gold (see Table 1). The Mineral Resource was prepared by Orinoco’s Brazilian-based geological team in accordance with the requirements of the JORC 2012 Code. The Sertão Gold Project, which is located just 28km by road from the Cascavel Gold Mine, forms part of Orinoco’s broader Faina Goldfields Project (see Figure 1). The Sertão deposit was previously mined (2003- 2006) as a shallow open pit by Troy Resources Limited (Troy) with historical production of 256koz at an average grade of 24.95 g/t Au. The Sertão gold mine lies on the same shear zone as the Cascavel Gold Project and, given its strategic location, strong production history and brownfields status (located on granted a Mining Lease) offers excellent potential for the development of future synergies between the two mining hubs. Orinoco completed a 3,035m drilling programme in Q1 2016 which formed the basis for this Mineral Resource estimate. | |
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