OGX - Orinoco Gold

[System]

Strickland Resources Limited (STK) is a mineral exploration company with the objective of exploring its 14 Mile Well Project and pursuing other projects in the resources sector, both in Australia and overseas, by way of acquisition or investment.

http://www.stricklandresources.com.au

 

[springhill]

Re: STK - Strickland Resources

MC- $2.2m
SP- 11c
Shares- 19c
Options- 8c
Cash- $2.4m

14 Mile Well Project
Project Location
The 14 Mile Well Project is located approximately 50km east of Leonora in Western Australia, 15km west of the Wallaby gold mine (7 Moz). The project area contains extensive alluvial gold workings and historic shafts where historical production returned extremely high grade results.

Exploration to date
The company continued to evaluate its own and historical exploration work carried out on the 14 Mile Well project. New gold discoveries within granitic rocks made by junior explorers in the gold fields have led to a fresh exploration model being devised for the project. The eastern portion of the project is underlain by granitic rocks that have proven anomalous for gold in previous shallow drilling. Anomalies 1, 2C and the Tatong anomaly all partially overlie the granite–greenstone contact as well as extending into the granite. The Granny Smith gold mine (5 Moz) 50km to the NW mined gold ore located at the contact of the granite and greenstone and also within the oxidised granite. A work program was prepared to outline the proposed work to be undertaken in the following quarter.

Planned Exploration Work
A work program culminating in an MMI soil sampling survey is planned to cover the prospective granite-greenstone contact zone in the eastern portion of the 14 Mile Well Project, 6km of strike length is planned to be tested. (Figure 1).
As with most terrains in the Eastern Goldfields the area is deeply weathered with fresh rock occurring at up to 40m depth beneath the surface, also transported cover can further blanket the area, thus making conventional soil sampling ineffective. MMI relies on analysing metallic ions that have been transported upwards from metallic ore bodies by various processes and are concentrated in the upper soil horizons. Very sensitive analytical methods can detect these ions and help locate ore bodies hidden at depth. The method is well tested and has been in use for some time in Australia, Canada and Africa.
Prior to the MMI survey an air photo regolith interpretation map will be constructed with field ground checking as well as a field geological map of the areas to be sampled.



New Projects
During the quarter the Company continued to evaluate numerous other resource projects within Australia and overseas and has undergone discussions with various parties with a view to finding a project that best fits the Company’s future strategic ambitions.
At the end of June and early July the Company’s geologist completed a one week technical review of a number of Exploration Licences located in Zambia which were presented as part of the consulting agreement with Summit Minerals Pte Ltd (“Summit”). The review involved field visits to licences in the Mumbwa area of Zambia with a view to establishing their prospectivity for Iron Oxide Copper Gold (IOCG) type mineralisation. The review process presented a number of findings and discussions are on-going with Summit as to the best way forward.
The Company continues to evaluate other projects that include, without limitation, coal, iron ore, copper, gold, manganese, tin, nickel, potash and tungsten both within Australia and abroad . The Company is confident that it will be able to suitably identify a project that meets the Company’s short term objectives and growth strategy.

 

[springhill]

Re: STK - Strickland Resources

STK in trading halt regarding acquisition of gold assets.

 

[springhill]

Re: STK - Strickland Resources

Strickland to reposition as Brazilian gold explorer through acquisition of Orinoco Resources

• Strickland to acquire Orinoco Resources Ltd, a recently established Brazilianfocused gold explorer.
• Orinoco’s Curral de Pedra Project in central Brazil represents a drill‐ready advanced exploration opportunity with numerous historic workings and underground sampling returning grades of up to 2,500g/t Au.
• Curral de Pedra lies 20km along strike from the Sertão gold mine, which was operated by Troy Resources, producing 247,000oz at an exceptional grade of 29g/t Au.
• Experienced management team (ex‐Centaurus Metals ASX: CTM) with significant experience in South American project acquisition, exploration and development to join Strickland.
• Strickland to undertake a capital raising of up to $2.7 million @ $0.15, including a rights issue and placement, to fund an aggressive exploration program at Curral de Pedra targeting a JORC resource in the short term.
• Trafford Resources (ASX: TRF), a cornerstone shareholder of Orinoco, has committed to underwrite the placement and take a minimum of $1.0 million.

 

[springhill]

Re: STK - Strickland Resources

STK spikes as high as +52% today.

TRAFFORD TAKES STAKE IN SOUTH AMERICAN GOLD EXPLORER

-Trafford is a 24% cornerstone investor in Orinoco Resources Ltd

-Orinoco Owns 70% of the High Grade Gold – “Curral de Pedra” Project in Brazil
• Underground Channel Samples up to 2,560 g/t gold*
• Drill ready, aggressive exploration planned
• Curral de Pedra located 20kms along strike from Sertao mine where Troy Resources mined 247,000oz Au at 29g/t

-ASX Listed Strickland Resources (ASX : STK) to Purchase Orinoco

-Trafford to Underwrite $1.5 million Placement as part of Strickland’s planned $2.7 Million Capital Raising to Fund Exploration

-Trafford to retain 18.17% in final entity of Strickland (after equity raisings)

-Experienced Management Team in Place

-Trafford to be offered a Board Position

 

[System]

On October 30, 2012, Strickland Resources Limited (STK) changed its name and ASX code to Orinoco Gold Limited (OGX).

 

[Sentinel8]

Have you guys seen this?:

http://www.nextminingboom.com/index...r-uncovering-once-in-a-lifetime-gold-project/

 

[Country Lad]

Have you guys seen this?:

http://www.nextminingboom.com/index...r-uncovering-once-in-a-lifetime-gold-project/

Yes, glanced through it - yet another one of those newsletters. I note it is your first post Sentinel, are you associated with the publication?

Cheers
Country Lad

 

[greggles]

Orinoco Gold reporting some high gold grades coming out of its pilot hammer mill in Cascavel, Brazil. The six new one tonne samples graded at an average of 36.68 g/t. This takes the number to 21 samples milled through the pilot hammer mill to an average grade of 45.19 g/t. Seriously high grades.

OGX currently up 19.61% to 6.1c this morning on the news.

 

[greggles]

Orinoco Gold reporting some high gold grades coming out of its pilot hammer mill in Cascavel, Brazil. The six new one tonne samples graded at an average of 36.68 g/t. This takes the number to 21 samples milled through the pilot hammer mill to an average grade of 45.19 g/t. Seriously high grades.

More good news regarding Orinoco Gold's Cascavel mine assay gold grades.

The highest grading samples included 114 g/t, 117 g/t, 119 g/t, 227 g/t, 254 g/t and 265 g/t. The average
grade of the 40 samples was 47.2 g/t. A further 40 assays are awaiting results.

One month chart for OGX looks great.

 

[greggles]

Orinoco Gold has bounced off 8c and is heading north again. Volume is increasing.

Might be primed to take another crack at 13c.

 

[Trav.]

I have been holding this one since April and it is tracking sideways as can be seen below.

Latest announcement details negative impact of National Brazilian transport strike.

lack of diesel supply = loss of production.

Also detailed in announcement

· Production results for the month of May will be released to the market in early June after the gold concentrates have been smelted.

· Our drilling contractors ¨Servitec Foraco¨ have informed us that they currently have enough diesel to complete the ongoing drilling program at Antena. Hole ANT008 has been completed and we look forward to announcing those results upon receipt of assays from our external laboratory.

· Ongoing pit sampling results for cobalt at Tintiero are expected to be received in early June 2018

· Hammer mill 4 will be delayed for a short period whilst this temporary setback is resolved nationally

So all going well share price goes up and June stock tip gain % up !

 

[Trav.]

Well no production news so far this month and share price down 10.45% today. Large volume (6.24M) also on ASX so doesn't look good.

Very frustrating last couple of months with this one and not doing me any favours. Maybe just EOFY sales or is it more bad news coming.

 

[Trav.]

Nice gain today. up 14% (volume 5M) so maybe some good news on the way.

 

[greggles]

Nice gain today. up 14% (volume 5M) so maybe some good news on the way.

Looking at the six month chart, the price currently appears to be consolidating around the same area it did it late January before it started moving up. So it looks to be settling into support with the increased volume in the last four days indicating that buyers are coming in and supporting the price at these levels.

It might be a good entry at these levels, especially after the move up today and the finish near its high. Time will tell I suppose.

 

[greggles]

And up she goes! Volume wasn't materially higher today compared to the previous four days so it looks like the sellers were exhausted and the buyers pushed the price up. Demand is outstripping supply at these levels. Nice 11% gain.

 

[Trav.]

Well this got smashed yesterday down 14%

Lowlights...and now placed in the bottom draw for another 3 months

https://newswire.iguana2.com/af5f4d...298/OGX_Quarterly_Activities_Report_June_2018

 

[Trav.]

Another one for the bottom draw. She is struggling to recover the gold and burning cash inthe process. Maybe revisit in another 6 months if not delisted before then

 

[barney]

Another one for the bottom draw. She is struggling to recover the gold and burning cash inthe process.

Its tough at this end of the market ……. Lots of machinery breakdowns not helping their cause by the sounds of it ….. I don't hold, but I hold others with problems and it can be frustrating … just have to stay in the fight!

 

[Trav.]

Trading Halt for potential capital raise. Not sure what the intent here is as currently OGX are trading @ 1.5cps so it will be interesting to see how this deal will be structured.

https://www.asx.com.au/asxpdf/20181112/pdf/44063lcbny7ls9.pdf