Located in the central Brazilian state of Goiás, the Faina Greenstone belt is located ~100km southwest of AngloGold’s world-class Serra Grande mine and Yamana Gold’s Pilar mine. The Faina greenstone belt was host to Troy Resources’ successful Sertão mine (~247koz @ 29gpt gold) while Yamana Gold (NYSE:AUY) and Orinoco are now the two largest tenement holders in the greenstone belt.
The Faina greenstone belt remains poorly explored for hard rock gold deposits with the previously poorly understood coarse nature of the gold in the greenstone belt contributing to its modern day prospectivity. Orinoco aims to define and develop a number of deposits (a ‘mining camp’) within the greenstone belt centred around the large, high-grade Cascavel system.
Orinoco Gold is exploring a number of high-grade gold exploration projects located in close proximity to each other within the Faina greenstone belt. The Company has previously reported high-grade drilling, channel sampling and bulk sampling results at the extensive Cascavel prospect, where the gold-bearing structure has been identified over an area of 1,600m x 620m (and remains open along strike and down dip) with three identified mineralised zones ranging in width from 4-25m.
In addition to Cascavel, Orinoco is exploring the rapidly developing Eliseo prospect where work to date shows gold anomalies over a length of 3 kilometres (and open) and where two scout drill holes both returned visible gold conincident with a geophysical anomaly.
09/04/2014: Notice of General Meeting/Proxy Form
02/04/2014: Allotment of Entitlements Issue Shortfall
28/03/2014: Change in substantial holding from TRF