Faina Goldfields Project

Faina Granstone Belt Target Geologic Map
The Faina Goldfields Project (Faina Project) is located in the central Brazilian state of Goiás. The Faina Project lies in a rich but under-explored area which has yielded numerous multi-million ounce deposits such as the AngloGold Ashanti’s (AngloGold) world-class +5Moz Serra Grande mine and Yamana Gold’s (Yamana) +6Moz Chapada Gold/Copper/Silver mine.

The Faina Project 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 key Cascavel, Sertão and Tinteiro Projects, as well as numerous advanced gold exploration targets including Española, Elisio, Antenna and Xupe.

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 the Cascavel Gold Mine (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 for a period of nine months.

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 Antenna/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 gold-in-conglomerate target where rock chip sampling has returned grades of up to 45g/t Au. Only two Orinoco holes have been drilled at this target to date, returning 1.4m @ 5.1g/t Au and 0.5m @ 2.3g/t Au.

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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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