G'Day all
For Orientation & size comprehension-see Sertao South West of Cascavel Mine shown bottom right. .
Scale legend above 2,000mts
North Up Presentation-Sertao Mine Position Shown Bottom right .Figure 4. ETM+/Landsat 7 band 4, 5, 3 (RGB) color composite, partially covering the Faina Greenstone Belt.
SertãoMine and Cascavel, North, Central, South and Southeast Tinteiro prospects are indicated by yellow polygons.Extrac-
Brazilian Journal of GeologyMineralizationIn the study area, the Sertão Mine and Cascavel prospectstand out because they both have
significant potentialfor continuous resource exploration and definition projects.
The Sertão Mine and the Cascavel prospect occur inthe same structural context. The gold mineralization is ofthe lode type, and quartz veins are structurally controlled by mineralized quartz veins extend along the direction and dipof the shear zone and appear to occur in structures of thesecond and third order as well.
The locations of the Sertãomine and other study sites are indicated in Figure 4.
Extrac -
Asx Ann -23 Jan 2019-(6 weeks ago
)Orinoco Gold Limited (ASX: OGX) (“Orinoco” or “the Company”) is pleased to provide the following update
on its potential exploration Joint Venture (“JV”) agreement with AngloGold Ashanti Holdings Plc (“AngloGold”).As previously advised (see ASX announcement dated 7th February 2017), Orinoco and AngloGold entered into an agreement to establish
a regional exploration joint venture over the Company’s Faina Goldfields Project (“JV tenements”)
which encompasses the tenements surrounding the Company’s Cascavel Gold Mine (Figure 1).
Orinoco is pleased to advise that recently held discussions with AngloGold
have confirmed the original earn-in
agreement terms, with both parties now commencing work on
establishing the in-country joint venture entity this quarter.
Under the terms of the JV agreement, AngloGold may earn up to a 70% interest in the JV tenements by spending
US$9.5 million in exploration over a three-year period with the right to withdraw at any time.
To date, AngloGold has advanced a total of A$3 million to reduce its earn-in requirements
(see ASX announcement dated 6th September 2017).
A technical committee, led by AngloGold, will be established upon the formation of the in-country JV entity. A potential US$9.5m Exploration Joint Venture with AngloGold with discussions progressing with renewed momentum by both parties.• Approximately US$7m still to be invested by AngloGold to earn 70% of the Company’s exploration tenements which surround the Cascavel Gold mine.• AngloGold and Orinoco working toward formally establishing a Brazilian Joint Venture entity to operate the exploration and development activities. • Updated exploration program to be put together following the formation of a new Joint Venture technical committee and
review of recent results.Sure sounds like its in an advance state to me-we await official conformation.
gltah -salt
