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.
Orinoco reported a maiden JORC Mineral Resource estimate for Sertão in June 2017 comprising 223,111 tonnes at an average grade of 6.9 g/t Au for 49,268 ounces of contained gold.
Sertão was previously mined (2003-2006) as a series of shallow open pits by Troy, with historical production of 256,000 ounces at an average grade of 24.95 g/t Au.
Sertão lies on the same shear zone as Cascavel and, given its strategic location, strong production history and brownfields status (located on granted a Mining Lease) offers excellent potential for future operational synergies between the two mining centres.
Historical drilling completed by the previous owner (Troy) identified material depth and strike extensions to the known mineralisation, which was only mined as a series of shallow oxide open pits to a depth of approximately 40m.
First-pass pit optimisations are also being undertaken to assess the potential for cut-backs to the historical pits.
Sertão has been identified as a priority focus for planned upcoming exploration activities to be undertaken as part of Orinoco’s regional exploration joint venture with leading global gold miner AngloGold Ashanti.