New Cannacord Analyst Report up on Orinoco Gold website. http://orinocogold.com/reports_presentations
Our analyst recently spent three days in Brazil, inspecting Orinoco’s Faina exploration projects (70% owned), encompassing the advanced Cascavel high-grade gold project, the earlier stage Eliseo gold exploration project and the more recently identified Tinteiro polymetallic target. Included in the itinerary was a visit to Cleveland Minerals Premier gold mine, located two hours drive from Cascavel by unsealed road. • Whilst we have always understood that Cascavel hosts high grades, nothing had prepared us for what we saw when we walked into the Cascavel winze. Within minutes of chipping away at the the end of a cross cut we were able to recover numerous pieces of the orebody with extensive showings of visible gold from the weathered quartzite host rock. It was a genuinely exciting event. • The high-grade zone was obviously very rich. If a drill hole had intersected the same zone it would probably have assayed many ounces per tonne of ore. If it had been 30 cm away, it might have gone through a barren zone and recorded little or no gold and left the observer disappointed. Hence the difficulty in grade estimation. Drilling doesn’t work well when there is such erratic distribution of gold, so the focus is now on bulk sampling to assess recoverable gold.
TRF Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Held
