PERTH (miningweekly.com) – Brazil-focused Orinoco Gold has reported a maiden mineral resource of 223 111 t, grading 6.9 g/t gold for 49 268 oz of contained gold at its Sertao gold project, located some 28 km from the Cascavel gold mine.
The Sertao project forms part of the broader Faina goldfields project, and was previously mined as a shallow openpit, with historical production of 256 000 oz at an average grade of 24.95 g/t gold.
Orinoco CEO Craig Dawson said on Tuesday that the announcement of a maiden mineral resource at Sertao was a significant milestone for the company.
“This marks an important step in the evolution of our broader Faina goldfields project and supports our view that our extensive ground position in this rich but underexplored region presents a significant long-term growth opportunity for the company.”
Dawson said that the mineralisation at Sertao remains open down-dip, with the mineral resource forming the basis for the design of the upcoming drilling programme to be undertaken as part of a joint venture with gold miner AngloGold Ashanti.