Orinoco Gold expands Brazil IOCG project with new discoveries...

Orinoco Gold expands Brazil IOCG project with new discoveries
Tuesday, February 25, 2014 by Proactive Investors



Orinoco Gold has expanded its Tinteiro IOCG project in Brazil With new discoveries.

Orinoco Gold (ASX: OGX) has significantly expanded its Tinteiro IOCG Project in central Brazil, with further high-grade rock chips and mapping.

Mapping and sampling over geophysical anomalies at Tinteiro has highlighted two new mineralised trends, with rock chips up to 20.1 grams per tonne gold.

This has increased the total strike length of the three coincident geophysical, structural and geochemical anomalies to more than 7 kilometres.

Tinteiro forms part of Orinoco’s Faina Goldfields Project, 2 kilometres from its Cascavel gold-silver project and 20 kilometres from the Sertão gold mine, where Orinoco is aiming to fast track development.

As part of the recently announced acquisition of the Sertão gold mine, Orinoco is also acquiring the Antena gold mine from Troy Resources (ASX:TRY) where historic soil sample results are currently being compiled.

Of note, it appears from geological mapping of gossan and breccia occurrences that the Antena mining lease may host additional extensions to Tinteiro.

Importantly, new high priority areas with the potential to host further silver mineralisation have been identified.

A significant thickening of the carbonate unit that hosts the previously reported high-grade silver system has been observed, which is also coinicident with gold-copper rock chip mineralisation and structural anomalies.

Cascavel and Sertão have potential for near term cash flow from high-grade gold-silver systems, whilst Tinteiro and Antena have potential for large scale, long mine life deposits.

Orinoco will look to drill test various parts of the Tinteiro system over the coming months.