Orinoco Gold Reports Outstanding Assay Results of 27 Oz/Tonne of Gold From Cascavel Exploration Decline

Orinoco Gold Limited (ASX:OGX) reported outstanding first assay results from contiguous panel sampling undertaken as part of its recently commenced exploration decline at its Cascavel Gold Project in central Brazil. When combined with previous drilling, underground bulk and channel sampling, the results indicate further strong evidence of potential for significant, structurally controlled shear zone hosted gold mineralisation from very shallow depths at the project. This highlights the opportunity to develop a high-grade, low-cost gold project at Cascavel,

As quoted in the press release:

• Bonanza grade nature of Cascavel confirmed following receipt of outstanding assay results from very shallow depths from the recently commenced exploration decline at Cascavel.
• Highest grade results from contiguous ~0.5m x 0.5m panel samples on the wall of the decline (along the
• strike of the mineralisation) to date include:
• 5.73m @ 113.3 g/t gold (3.6 ounces from metre 12.43 to 18.16m of decline) at approx. 21m fromsurface and currently open to SW including:
• 2.46m @ 239.4 g/t gold (7.7 ounces from metre 15.m to 18.16m of decline)
• The highest grade panel sample returned in this batch was 0.5m @ 842g/t (27 ounces from metre 17.34 to 17.72m of decline).

Orinoco Managing Director, Mark Papendieck, said:

These results, together with the information we have gained from drilling and bulk sampling support our view that Cascavel is a substantial high-grade gold system with outstanding near-term development potential.

Click here to read the Orinoco Gold Limited (ASX:OGX) press release