Orinoco Gold Limited is pleased to announce that recent drilling has further expanded the size of the extensive gold-bearing quartz carbonate vein system at the Cascavel Target within its flagship 70%-owned Curral de Pedra Project, more than tripling the known strike length of the structure from 500m to 1.6km. Curral de Pedra is located in the central Brazilian state of Goiás, the second largest gold producing state in Brazil. The Cascavel Target is the first target on the Curral de Pedra tenement package to be evaluated by the Company.

An aggressive program of diamond drilling is continuing at Curral de Pedra, focused on defining the geological continuity of a large gold-bearing shear zone hosted quartz carbonate vein system which has previously been consistently intersected by drilling over 620m down-dip and 500m along strike. Two new diamond holes (CDP013 & CDP016) have been completed significant distances to the south of the previously defined 500m of strike length, with both holes intersecting the structure that hosts the gold at the Cascavel Target. The intersected quartz carbonate veins were hydrothermally altered and visually appeared to contain the minerals that are known to be associated with gold mineralisation at Cascavel (k-feldspar, fuchsite and pyrite).

Hole CDP016 is located approximately 400m south-east of the previously defined zone and hole CDP013 is situated approximately 1.1km south-east of the previously defined zone. Assays from these holes and from rock chip sampling of this 1.1 km strike extension to the Cascavel Target are pending. The continuation of the sulphide-rich quartz carbonate veining down-dip has again been reaffirmed in hole CDP009. This hole is located 400m to the north west of the previously reported hole CDP002 and again intersected the gold-bearing system at 620m down-dip.

Orinoco is currently preparing thin sections from diamond drill core for petrographic studies from previously reported drill holes. While cutting the remaining half core from hole CDP002, visible gold was discovered within the core. The gold occurrence is within the same interval that returned the previously reported intersection of 0.5m @2.5gpt Au at 620m down-dip or at ~285m vertical depth again demonstrating the coarse nature of the gold at the Cascavel Target and the variation in gold grades that are possible when small sample sizes are used for grade determination.

Now that Orinoco has been successful in defining both down-dip and along strike extensions to the structurally controlled system at the Cascavel Target, the remaining drilling of in the current program will be focused on better defining the controls on the high-grade ore shoots. Orinoco Managing Director Mark Papendieck said the step-out drilling had clearly demonstrated the potential size of the Cascavel Target, with the hosting structure and gold-bearing zones now intersected consistently over an extensive area of some 1.6km by 620m. “For drilling to consistently intersect the altered stacked quartz vein package over 1.6km of strike shows the geological continuity of what appears to be a large hydrothermally altered system.” Mr Papendieck said.