Orinoco Gold Ltd. (ASX:OGX) announced further “excellent” assay results from contiguous panel sampling within the exploration decline at its Brazil-based Cascavel gold project. Cascavel is part of the company’s 70-percent-owned Faina Goldfields project.
- New high grade results received from contiguous ~0.5m x 0.5m panel samples from the Cascavel exploration decline include:
- 4m @ 148.5g/t gold (4.7oz/tonne from 18.16m to 22.16m of decline) at approx. 27m from surface and remaining open to the SW including:
- 0.46m @ 417g/t gold (12.9oz/tonne from 19.40m to 19.86m of decline)
- These panel sample results are directly contiguous with the previously reported panel sample results of 5m @ 113g/t gold and, together, represent a continuous zone both along strike and down plunge within the decline of: 9.7m @ 125 g/t gold (4.01oz/tonne from 12.4m to 22.16m of decline)
- Abundant visible gold continues to be consistently encountered for at least 5m in the area immediately following these reported results –assays pending.
- The last panel sample reported in this batch returned 124 g/t of gold.
- Sampling has shown individual high grade shoots encountered to date have greater strike extent (up to 12m) than previous interpretations.
Mark Papendieck, managing director of Orinoco, commented:
The exploration decline has proven to be an excellent method of unlocking the potential of Cascavel and we continue to be pleasantly surprised by the amount of gold that we are seeing as the decline advances. We were always aware that an exploration decline would be the best way to ascertain the grade of the gold at Cascavel. Now, by combining geological and grade information from the decline with structural data from drilling, we are beginning to be able to show the true upside of the project.