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Message: Orvana Provides Exploration Update for Spanish Operations; Strong Potential to Increase Mineral Reserves and Resources

Orvana Provides Exploration Update for Spanish Operations; Strong Potential to Increase Mineral Reserves and Resources

posted on Jan 05, 2018 02:27PM

TSX:ORV

TORONTONov. 27, 2017 /PRNewswire/ -- Orvana Minerals Corp. (TSX:ORV) (the "Company" or "Orvana") is pleased to announce the results of a twelve month infill drilling campaign during fiscal 2017 at its El Valle and Carlés Mines in northern Spain.

The drilling program consisted of 209 diamond drill holes ("DD") totaling approximately 23,000 meters ("m") at the El Valle Mine and 45 DD holes totaling approximately 2,700 m at the Carlés Mine. A core objective of the drilling executed during fiscal 2017 was to generate the information required to substantially de-risk the fiscal 2018 mine plan overall, and also to lay the foundation for future in-mine exploration targeting expansion of the mineral resource base.

Assay intersections relating to this drilling program are provided in this news release and include the following highlights:

El Valle Mine

  • 8.29 g/t Au and 1.92% Cu over 9.6 m in the Black Skarn Oxide area, which remains open to the west.
  • 64.27 g/t Au over 4.9 m in the East Breccia zone, an oxide orebody drilled from surface and located to the northeast of current mine development.

Carlés Mine

  • 12.54 g/t Au over 10.2 m in a skarn orebody located in the Carlés Northwest area, which contains higher than average gold grades and which remains open at depth.

Jim Gilbert, Chairman and CEO of Orvana stated: "We are very pleased with the results of the infill drilling activities at the El Valle and Carlés Mines during the past fiscal year. One of our stated objectives in fiscal 2018 is to improve grade control of the ore coming from our Spanish operations by targeting the development of higher-grade oxide areas, which will, in turn, positively impact our overall unitary costs. The successful infill drilling campaign completed in fiscal 2017 means that we are now well-positioned to achieve this objective, and also to increase mineral reserves and resources within the new higher-grade Black Skarn Oxide areas identified by the program."

2017 Exploration Program

The results reported in this release are from three areas (1) Black Skarn Oxide ("BSO"), an oxide zone located in the upper part of Black Skarn towards the west, (2) East Breccia ("EBX"), an oxide zone located to the east of the El Valle open pit; and (3) Carlés Northwest ("CNW"), a skarn zone located at depth (Figure 1).

Drilling in these areas was undertaken with the objectives of (i) converting inferred mineral resources to measured and indicated mineral resources and (ii) adding to the base of inferred mineral resources. Elsewhere in the El Valle Mine, infill drilling was done to better define development and production stopes and targeted holes were drilled to assist in dewatering efforts. Selected exploration results are summarized in the tables and figures below.       

The mineralization in the upper part of BSO is located in a structure which trends almost east-west and is in an altered calcic skarn, oxidized with disseminated mineralization of copper sulfides (chalcopyrite) and native copper, containing some Au and Cu values. This structure is separated from the main skarn orebody by a limestone band. This drilling campaign shows indications that the identified BSO mineralization is open towards the west (Figure 2).

The EBX mineralized structure trends north-south and is located at the northeast of the El Valle historical pit. It is an epithermal oxidized structure made by jasperoid and semi-jasperoid fragments inside a highly oxidized clay matrix. The 2017 drill campaign of the EBX included five holes from surface (Table 1). Based on the promising results from the 2017 drilling program, the Company expects that this area will be an important part of the Company's future exploration programs, with the potential for adding to the current inventory of mineral reserves and resources (Figure 3).

Table 1: El Valle-Boinás – BSO and EBX Drill Results

                     

Hole

Zone

Azimuth

Dip

From
(m)

To
(m)

True 
Thickness
(m)

Au
(g/t)

Ag
(g/t)

Cu
(%)

Recovery 
%

16V1481

BSO

276.7

25.2

48.1

51.2

2.3

5.66

13.75

0.17

100

16V1481

BSO

   

82.1

115.3

24.9

3.51

78.87

0.65

72

Including 1

BSO

   

82.1

102.4

15.2

4.14

34.56

0.59

69

Including 2

BSO

   

106.0

115.3

6.9

3.26

198.40

1.02

84

16V1482

BSO

330.9

-1.3

20.5

21.9

1.4

9.30

58.70

1.76

86

16V1482

BSO

   

25.0

26.5

1.5

2.55

12.80

0.23

100

16V1483

BSO

293.9

25.5

76.0

88.0

9.6

8.29

52.84

1.92

88

16V1484

BSO

260.2

24.5

100.1

103.1

3.0

3.56

1.54

0.02

87

16V1485

BSO

292.8

11.5

90.2

98.1

4.7

5.56

53.60

1.06

75

16V1485

BSO

   

102.2

118.0

9.5

6.78

50.00

1.28

92

16V1487

BSO

313.1

27.8

20.7

22.6

1.6

13.22

33.29

0.75

90

16V1487

BSO

   

68.5

69.9

1.1

14.49

71.60

1.81

79

17V1490

BSO

308.1

9.2

58.8

66.4

7.6

3.86

46.61

0.11

95

17V1496

BSO

324.6

18.1

49.7

53.9

4.2

5.49

32.82

0.38

56

17V1497

BSO

350.2

16.1

43.45

46.65

3.2

2.19

72.10

0.92

94

17V1499

BSO

324.7

4.8

No intercepts Au>2g/t

17V1501

BSO

307.8

-3.5

84.75

87.8

1.53

3.63

37.74

0.64

93

17V1502

BSO

290.6

3.9

66.1

80.5

7.2

4.26

33.30

0.871

64

Including 1

BSO

   

79

80.5

0.75

13.84

99.5

2.34

93

16EBX1017

EBX

154.6

-56.5

28.1

33.5

4.9

64.27

5.65

0.23

70

Including

EBX

   

29.4

30.5

0.9

285.06

23.10

0.76

57

16EBX1017

EBX

   

146.4

147.5

0.9

4.05

2.90

0.95

100

16EBX1017

EBX

   

166.5

170.7

3.8

7.73

1.12

0.91

100

Including

EBX

   

169.4

170.7

1.2

20.31

1.20

1.64

100

16EBX1017

EBX

   

182.0

183.2

1.1

2.23

4.40

0.16

100

16EBX1018

EBX

174.0

-52.8

28.3

31.8

2.6

3.09

2.9

0.04

57

16EBX1018

EBX

   

208.2

210.2

1.5

5.24

0.5

0.01

100

16EBX1018

EBX

   

224.1

227.1

2.3

3.02

1.75

0.12

100

16EBX1019

EBX

192.7

-64.9

23.2

24.3

1.1

2.46

0.5

0.23

55

16EBX1019

EBX

   

211.6

216.2

4.6

2.96

0.5

0.03

100

16EBX1019

EBX

   

241.9

243.1

1.2

5.36

0.5

0.34

100

16EBX1020

EBX

125.7

-49.6

162.3

170.6

6.7

1.86

4.25

5.15

100

16EBX1020

EBX

   

166.3

167.7

1.1

7.93

13.20

20.12

100

16EBX1021

EBX

188.3

-54.7

No intercepts Au >2g/t

Note: True thicknesses were determined graphically by measuring the distance approximately perpendicular to the contacts.  No values were capped.

Table 2: Carlés– CNW Drill Results

                     

Hole

Zone

Azimuth

Dip

From, 
(m)

To
(m)

True 
Thickness 
(m)

Au, 
(g/t)

Ag,
(g/t)

Cu 
(%)

Recovery, 
(%)

17CNW1051R

CNW

302.6

-18.5

95.4

102.0

3.3

3.08

2.84

0.11

89

17CNW1052

CNW

300.8

-10.1

83.5

84.5

1.0

3.12

4.70

0.18

100

17CNW1053

CNW

299.8

5.9

64.1

66.1

2.0

3.12

1.28

0.11

97

17CNW1054

CNW

300.0

27.0

56.6

57.6

0.9

5.11

0.50

0.01

100

17CNW1055

CNW

306.3

-26.2

61.7

74.6

5.2

5.06

6.45

0.30

98

Including

CNW

   

70.8

73.3

1.0

13.70

20.60

1.02

100

17CNW1056

CNW

306.6

-15.0

45.2

51.2

3.6

4.97

3.85

0.14

88

17CNW1057

CNW

307.3

9.2

31.5

37.2

5.7

4.10

2.75

0.13

98

17CNW1058

CNW

308.8

31.7

28.0

31.8

3.9

3.00

2.78

0.08

95

17CNW1059

CNW

281.2

-26.2

99.3

106.9

2.3

2.02

1.41

0.17

64

17CNW1060

CNW

280.5

-16.8

73.8

75.2

1.4

3.73

2.10

0.15

89

17CNW1060

CNW

   

88.3

89.6

1.3

2.27

0.50

0.01

100

17CNW1061

CNW

285.2

8.9

35.7

37.2

1.3

2.41

8.20

0.34

100

17CNW1061

CNW

   

38.0

40.9

2.6

9.41

7.95

0.47

90

17CNW1062

CNW

303.7

-33.8

89.9

115.5

10.2

12.54

4.74

0.15

96

Including

CNW

   

101.2

115.5

5.7

20.09

8.06

0.26

98

17CNW1063

CNW

282.1

-8.5

46.3

47.3

0.7

2.43

0.50

0.00

100

17CNW1063

CNW

   

58.3

59.2

0.6

20.90

26.30

0.61

89

17CNW1064

CNW

300.3

-25.1

120.2

121.3

0.4

3.86

10.00

0.40

100

17CNW1064

CNW

   

125.7

128.9

1.3

5.25

15.39

0.70

100

17CNW1065

CNW

316.9

-23.3

115.0

116.6

0.8

2.85

4.00

0.17

100

17CNW1066

CNW

318.8

-6.1

77.6

82.2

4.7

2.17

0.50

0.00

90

17CNW1067

CNW

300.6

-12.8

48.4

50.4

1.2

2.31

0.50

0.00

98

17CNW1067

CNW

   

53.4

56.2

1.7

14.58

0.78

0.00

95

17CNW1067

CNW

   

62.2

63.2

0.6

2.82

0.50

0.00

68

17CNW1068

CNW

299.3

-32.9

106.4

133.2

10.7

3.72

1.98

0.11

94

17CNW1068

CNW

   

108.0

114.8

2.4

6.08

1.09

0.10

89

17CNW1069

CNW

281.1

-24.1

96.8

108.1

5.7

3.08

0.55

0.01

97

17CNW1069

CNW

   

121.5

124.4

1.5

2.49

0.50

0.01

93

17CNW1070

CNW

279.2

-11.1

61.5

63.7

1.3

4.75

1.44

0.00

100

17CNW1071

CNW

267.2

27.1

34.6

40.4

5.9

3.14

0.50

0.00

93

17CNW1072

CNW

298.8

-26.7

76.7

84.8

4.1

8.10

1.17

0.01

96

Including

CNW

   

76.7

80.0

1.7

16.63

1.34

0.00

94

17CNW1073

CNW

299.7

-1.6

38.5

44.8

5.0

4.82

0.59

0.01

98

17CNW1074

CNW

279.6

-18.4

No intercepts Au> 2 g/t

17CNW1075

CNW

334.1

10.9

28.5

38.2

9.17

7.63

2.69

0.07

94

Including

CNW

   

28.5

32.5

3.80

12.98

1.60

0.02

94

17CNW1076

CNW

318.6

4.9

No intercepts AU> 2 g/t

17CNW1077

CNW

319.4

-13.5

52.5

58.3

4.09

5.80

1.52

0.01

96

Note: True thicknesses were determined graphically by measuring the distance approximately perpendicular to the contacts. No values were capped.

The CNW area located in the northwest portion of the Carlés deposit is a calcic continuous and well-defined skarn trending in the northeast-southwest direction. Drilling in the CNW area indicates that mineralization increases at depth (Figure 4: Hole 17CNW1062 - 10.2 m with 12.54 g/t Au). Evaluation is underway of the potential for incorporation in the fiscal 2018 mine plan of these CNW stopes with higher grade skarn ores, together with other recently drilled areas in the El Valle-Boinás deposit, which may positively impact projected unitary costs.

Further information related to the El Valle Mine and Carlés Mine geology and mineralization can be found on the Company's website (www.orvana.com).

QA/QC and Data Verification 
Security measures were taken to ensure the integrity and validity of the mineralization and proximal rocks in the new drill core under the supervision of Guadalupe Collar Menéndez, Chief Geologist, Orovalle Minerals S.L., a qualified person for the purposes of NI 43-101.  The core was sampled based on lithologic and alteration considerations.  Assays were completed by the on-site laboratory at Orovalle Minerals S.L except DDH 17V1496 that was analyzed atALS Laboratory Group SL Mineral Laboratories at Sevilla, Spain ("ALS"). The QA/QC protocol included internal and laboratory certified reference materials, blanks, duplicates and check assays. At the Orovalle Minerals S.L. laboratory, a 30-gram sample was analyzed by fire assay with an atomic absorption spectroscopy for gold, and copper, silver, arsenic, bismuth, mercury, lead, zinc, fluorine, selenium and antimony were analyzed by ICP-optical emission spectroscopy. Pulps were sent to the ALS laboratory for check analyses. A 30-gram sample was analyzed by fire assay methods for gold and a conventional Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) analysis was used for the analysis of 35 elements at ALS. Copper values exceeding 10,000 ppm and silver values exceeding 100 ppm were re-analyzed by atomic absorption using a 4-acid digestion.  In addition, Ms. Menéndez has verified the sampling, analytical, and test data underlying the information or opinions contained herein by reviewing original data certificates and monitoring all of the data collection protocols.

Qualified Person
The technical information contained in this document was prepared under the supervision of Guadalupe Collar Menéndez, a qualified person for the purposes of NI 43-101 and an employee of Orovalle Minerals S.L., a subsidiary of Orvana.  

About Orvana
Orvana is a multi-mine gold and copper producer. Orvana's operating assets consist of the producing gold-copper-silver El Valle and Carlés mines in northern Spain and the producing gold-copper-silver Don Mario mine in Bolivia. Additional information is available at Orvana's website (www.orvana.com).

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