After a very frustrating 2nd quarter, our focus at Cascavel is achieving a steady run rate of high grade tonnes through all four mills on a consistent basis for August and the remainder of the quarter. With mining at the Intermediate zone underway, we now have 3 sources of high grade ore being Mestre, Cascavel and Intermediate. The thickness of the Intermediate zone of 1.5m to 1.8m, height of 8m and width of 15m, means this zone has the potential to be an important source of high grade ounces near term. It is the first time that Orinoco as a company will commercially mine this area which has reported panel sample grades of up to 2,560 g/t from a previous management report on 25 October 2012 entitled Broad Alteration Zones Intersected at Brazilian Gold Project.
I guess this is my reason for holding for now, but I believe it more than reasonable in requesting weekly updates
OGX Price at posting:
4.7¢ Sentiment: Hold Disclosure: Held
