Industria
ORVANA PROVIDES CONSTRUCTION UPDATE FOR DON MARIO, BOLIVIA AND REPORTS Q1 FY2025 PRODUCTION FROM OROVALLE, SPAIN
Juan Gavidia , CEO of Orvana, commented, " "
GEO is a Non-GAAP Financial Performance Measure. For further information and detailed reconciliations, please see the "Non-GAAP Financial Performance Measures" section of the Company's FY2024 MD&A.
The drilling program in Q1 FY2025 was focused on Area 208, oxide orebody, to continue defining new inferred resources and targeting to convert inferred resources into indicated resources.
Area 208 structure is located into limestone in deeper levels, dipping to the east. Mineralization in the sections drilled is related with porphyry dikes which are intersected by faults and it has an important width below 300 level. Oxide skarn, massive sulphides, polymictic breccias, fault zones and silicified zones were intersected with the drill holes providing interesting intersections. In particular, drill hole 24A21957 intercepted 80.9 meters with 8.36 g/t Au (see full list of intercepts in Figure 1). The structure remains open at deeper levels to the east.
Drilling program in the second quarter will continue focused on Area 208.
Ortosa-Godan Project is located three kilometers northwest of our Carlés mine, and within the same gold belt. The exploration program is focused on Godán where the last drilling program proved the presence of mineralization in the contact between the intrusive and sedimentary rocks with calcic skarn bands dipping 60-70º ESE over 200 meters of strike potential.
Current drilling program was started at the end of October. First drill hole continues in progress and it is expected that will be completed by the end of January. Target is to extend skarn mineralization 200 m deeper.
According to current drilling information and based on the dip and mineralization of the skarn, there is a potential connection with Carlés skarn.
Greenfield drill hole samples were sent to an external laboratory (ALS Laboratory) for analyses. Infill and brownfield drill holes samples were analyzed in Orovalle's Laboratory.
Sample preparation was carried out at the El Valle facility. All diamond core samples have been prepared using the following procedure, once split:
The core samples are dried at a temperature of 105ºC and then crushed through a jaw crusher to 70%<6 mm. The coarse-crushed sample is further reduced to 70%<425 microns using an LM5 bowl-and-puck pulverizer. An Essa rotary splitter is used to take a 450 g to 550 g sub-sample of each split for pulverizing. The remaining reject portion is bagged and stored. The sample is reduced by 85% to a nominal -200 mesh using an LM2 bowl-and-puck pulverizer. 150 g sub-samples are split using a special vertical-sided scoop to cut channels through the sample which has been spread into a pancake on a sampling mat. Samples are then sent to the laboratory for gold and base metal analysis. Leftover pulp is bagged and stored.
After sample preparation, 30g samples are analyzed for Au by fire assay with an atomic absorption spectroscopy (AAS) finish and one-gram samples for Ag, As, Bi, Cu, Hg, Pb, Sb, Se, and Zn by ICP-optical emission spectroscopy (ICP-OES) after an aqua regia digestion.
For A208 core samples is used a 1000 g sub-sample of each split and 250 g sub-samples are split. 50 g samples are twice analyzed. In case of the twice analysis don´t match, a metalling screening method is used to confirm the grade.
In case of the samples sent to an external laboratory, 30 g samples are analyzed for Au by fire assay with an atomic absorption (Au AA-25) and 35 elements by ICP (ME-ICP41) after an aqua regia digestion. When Au and Ag values are >100 ppm and Cu and As values are >10,000 ppm, specific analysis methods are used to determinate the final grade.
The reported work has been completed using industry standard procedures, including a quality assurance/quality control ("QA/QC") program consisting of the insertion of certified reference material, blanks and duplicates samples into the sample stream.
The exploration update 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
Q1 FY2025 financial highlights will be released with the first quarter financials, expected mid-February, 2025.
Orvana is a multi-mine gold-copper-silver company. Orvana's assets consist of the producing El Valle and Carlés gold-copper-silver mines in northern Spain , the Don Mario gold-silver property in Bolivia , and the Taguas property located in Argentina . Additional information is available at Orvana's website (www.orvana.com).
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