• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

OGX - Orinoco Gold

Discussion in 'Stocks I-P' started by System, Sep 2, 2011.

  1. System

    System Administrator

    Posts:
    2,101
    Likes Received:
    17
    Joined:
    Jun 27, 2010
    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
     
  2. springhill

    springhill Make the drill work for YOU

    Posts:
    2,555
    Likes Received:
    1
    Joined:
    Jun 20, 2007
    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.
     

    Attached Files:

  3. springhill

    springhill Make the drill work for YOU

    Posts:
    2,555
    Likes Received:
    1
    Joined:
    Jun 20, 2007
    Re: STK - Strickland Resources

    STK in trading halt regarding acquisition of gold assets.
     
  4. springhill

    springhill Make the drill work for YOU

    Posts:
    2,555
    Likes Received:
    1
    Joined:
    Jun 20, 2007
    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.
     
  5. springhill

    springhill Make the drill work for YOU

    Posts:
    2,555
    Likes Received:
    1
    Joined:
    Jun 20, 2007
    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
     

    Attached Files:

  6. System

    System Administrator

    Posts:
    2,101
    Likes Received:
    17
    Joined:
    Jun 27, 2010
    On October 30, 2012, Strickland Resources Limited (STK) changed its name and ASX code to Orinoco Gold Limited (OGX).
     
  7. Sentinel8

    Sentinel8

    Posts:
    1
    Likes Received:
    0
    Joined:
    Apr 10, 2013
  8. Country Lad

    Country Lad Off into the sunset

    Posts:
    794
    Likes Received:
    49
    Joined:
    Jul 11, 2005
  9. greggles

    greggles I'll be back!

    Posts:
    728
    Likes Received:
    108
    Joined:
    Jul 28, 2004
    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.
     
  10. greggles

    greggles I'll be back!

    Posts:
    728
    Likes Received:
    108
    Joined:
    Jul 28, 2004
    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.

    screenshot-shareinvesting.anz.com-2018-01-17-11-41-29.png
     
  11. greggles

    greggles I'll be back!

    Posts:
    728
    Likes Received:
    108
    Joined:
    Jul 28, 2004
    Orinoco Gold has bounced off 8c and is heading north again. Volume is increasing.

    Might be primed to take another crack at 13c.

    big.chart.OGX.gif
     
    Trav. likes this.

Share This Page