Orinoco acquired 100% of the Sertão Mining Leases, which include the former Sertão Gold Mine (Sertão), from Troy Resources (Troy) in February 2014. Sertão is located 28km by road from Orinoco’s high-grade Cascavel Gold Mine (Cascavel), and offers potential operational synergies.
The Eliseo prospect is a large gold anomaly (+10km), with gold mineralisation associated with conglomerate packages. The prospect hosts strong coincident geochemical and geophysical targets. Rock chip sampling at Eliseo has returned grades of up to 22g/t Au, and historical drilling conducted by previous owner, Troy Resources, returned intercepts including 33m @ 4.22g/t Au and 28m @ 3.96g/t Au. Two additional anomalies have also been identified related to the same conglomerate at Eliseo North and Sierra, where rock chip sampling has returned grades of up to 45g/t Au. The Eliseo area offers strong potential for the delineation of large-scale bulk tonnage open pittable resources.
In October 2014, Orinoco materially increased the size of the Faina Goldfields Project (Faina Project) after securing a 70% interest in the highly prospective Española Prospect – a tenement with known gold mineralisation. The tenement is situated immediately to the north of both the Cascavel Gold Mine (Cascavel) and the Central Tinteiro IOCG (iron oxide, copper, gold) prospect (Tinteiro). The tenement contains significant north-west extensions of both the Cascavel and Tinteiro geological trends, extending the known Cascavel structure by 60% to approximately 4km of strike.
Tinteiro IOCG is located in the central portion of the Faina Greenstone Belt, 4km to the south-west of Cascavel. Tinteiro was discovered in May 2013, when Orinoco discovered high-grade silver and base metal mineralisation in the footwall of the Mestre zone and over the hanging wall of the Cuca zone at Cascavel.