Faina Goldfields Project

Faina Granstone Belt Target Geologic MapThe Faina Goldfields Project (Faina Project) is located in the central Brazilian state of Goiás. Goiás is a well-established gold mining province, with several major mines operating within the State’s northern greenstone belts including AngloGold Ashanti’s (AngloGold) 3.6Moz Crixás Mine and Yamana Gold’s 2.3Moz Pilar Mine.

Collectively, Goiás’ northern greenstone belts have delivered total gold production of 5.7 million ounces of gold and are entirely controlled by the major gold producers AngloGold and Yamana Gold.

However the Faina greenstone belt, located in southern Goiás, remains largely unexplored.

Orinoco controls the majority of the Faina greenstone belt, which has all the hallmarks of an emerging mining hub, potentially with multiple production centres.

The Faina Project consists of a large tenement package of approximately 200km2 that encompasses the Cascavel Gold Mine (Cascavel), as well as numerous advanced gold exploration targets including Sertão, Antena/Xupé, Eliseo, Española and Tinteiro.

Exploration within the Faina Project is underpinned by Orinoco’s regional exploration Joint Venture (JV) agreement with Brazil’s largest gold miner, AngloGold. 

Under the terms of the JV agreement, AngloGold may earn up to a 70% interest in the Faina Project, excluding Cascavel, by spending up to US$9.5 million on exploration over three years.

In addition, AngloGold has the right to negotiate an agreement to earn up to a 50% interest in Cascavel.

The wide-ranging agreement with AngloGold represents a strong endorsement of the quality and potential of Orinoco’s tenement position in the Faina greenstone belt from one of the world’s largest and most successful gold mining companies.

AngloGold brings the expertise and financial capacity required to unlock the broader potential of this highly prospective ground package, whilst ensuring Orinoco retains strong exposure to any new discoveries.  

 

 

EXPLORE THE REGION

Projects Location

Brazilian Map
Capital Brasília
Official language Portuguese
Government Federal presidential
constitutional republic
Tenement Area 200km2 approximately

The Antena/Xupe targets are located 8km from Cascavel Gold Mine (Cascavel), and represent shallow extensions to old open pits.

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The high-grade 100%-owned Cascavel Gold Mine (Cascavel) lies within Orinoco’s Faina Goldfields Project (Faina Project) in the State of Goiás in central Brazil.  

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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.  

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(Previously Garimpo) 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.

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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 just 28km by road from Orinoco’s high-grade Cascavel Gold Mine (Cascavel), and offers potential operational synergies.

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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.

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