Orvana Minerals Corp. (TSX: ORV) is pleased to announce the recent completion of Phase I of its infill and resource-growth drilling campaign targeting the Oxides Horizon of its 100%-owned Taguas Project in San Juan Province, Argentina. A five-month final Phase II is expected to start in November 2022.
Phase I consisted of 6,482.6 meters in 41 diamond drill holes (DDH’s), with over 4,900 assay samples. The main goal of the program was to upgrade Cerros Taguas Oxides Sector to Measured & Indicated Resource categories, as those terms are defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects) while moderately expanding the ore tonnage previously reported in the Company’s NI 43-101 compliant Taguas preliminary economic assessment report dated December 29, 2021 and filed on SEDAR on February 11, 2022. The second goal was to incorporate satellite Cerro Campamento Sector into the Oxides scope, going forward.
“The DDH’s average drilling results and key intercepts continue to support Orvana’s Oxides development strategy for our Taguas multimillion-ounce Au-Ag Oxides-Sulfides Project. Also, the decision to incorporate the satellite higher-grade Cerro Campamento Sector will be key to improving project economics. We are excited, and eagerly awaiting, resource re-modeling by July 2022. Completion of Phase II will be the foundation of the 43-101 Pre-Feasibility Study for our Oxides Project in Taguas”, said Orvana CEO Juan Gavidia.
Highlights:
Drilling Program Overview:
Phase I was conducted between late-December 2021 and mid-May 2022. Out of the total 41 drill holes drilled in Phase I, assay results from the first 12 holes (TADD237 to TADD248) were outlined in Orvana’s March 31, 2022 news release. The assay results for the subsequent 29 holes are summarized in Table 1 and Table 2 of this news release.
Phases I & II results to be used for Taguas Oxides prefeasibility studies purposes.
Cerros Taguas
Cerro Campamento
Quality Assurance-Quality Control
Samples were prepared and analyzed by Alex Stewart International Argentina SA Laboratory in Mendoza. This laboratory is ISO 9001; ISO 17025, and ISO 14001 certified. Samples were prepared following the P-5 laboratory preparation code: the samples were dried, crushed to passing 10 mesh (>80%), riffle split of 1kg sample and pulverized to 106 microns (>95%). The assays included 50 g Au by fire assay (FA), AA finish and 39 element package with aqua regia dilution and ICP OES finish. Over limits for Au and Ag were run in 50 g sample by FA and gravimetric method finish. Coarse and pulp rejects were returned and are stored in the Piuquenes storage facilities.
The reported work has been completed using industry standard procedures, including a quality assurance/quality control program consisting of the insertion of quarter core field duplicates, coarse duplicates split after laboratory crushing, pulp duplicates split after laboratory pulverization, coarse analytical blank samples and 2 different CRMs inserted in batches of roughly 50 samples.
The exploration update was prepared under the supervision of Raúl Alvarez Cifuentes, a qualified person for the purposes of NI 43-101 and an employee of the company.
Table 1 – Intercepts from Cerros Taguas
The assay results from the first 12 holes (TADD237 to TADD248) were outlined in the news release dated March 31, 2022. The assay results for the subsequent 29 holes are summarized below:
DDH | FROM | TO | Downhole length |
True width* |
Au (g/t) | Ag (g/t) | Cu (%) | Ore Type | ||||||||
TADD249 | 18.20 | 40.30 | 22.10 | 14.37 | 0.28 | 10.77 | 0.02 | Oxide | ||||||||
TADD249 | 111.50 | 114.20 | 2.70 | 1.76 | 0.25 | 22.15 | 0.03 | Oxide | ||||||||
TADD250 | 59.00 | 67.00 | 8.00 | 5.20 | 0.26 | 7.12 | 0.10 | Oxide | ||||||||
TADD250 | 157.00 | 163.00 | 6.00 | 3.90 | 1.61 | 122.43 | 0.44 | Sulfide | ||||||||
TADD251 | 8.00 | 10.00 | 2.00 | 1.30 | 0.25 | 2.30 | <0.01 | Oxide | ||||||||
TADD251 | 21.00 | 34.20 | 13.20 | 8.58 | 0.23 | 2.27 | 0.01 | Oxide | ||||||||
TADD251 | 61.00 | 62.00 | 1.00 | 0.65 | 0.77 | 1.50 | <0.01 | Oxide | ||||||||
TADD251 | 82.40 | 135.00 | 52.60 | 34.19 | 0.44 | 4.31 | <0.01 | Oxide | ||||||||
TADD251 | 143.40 | 148.80 | 5.40 | 3.51 | 0.32 | 6.20 | 0.02 | Oxide | ||||||||
TADD251 | 158.10 | 160.30 | 2.20 | 1.43 | 0.27 | 1.20 | 0.01 | Oxide | ||||||||
TADD252 | 43.50 | 48.50 | 5.00 | 3.25 | 0.21 | 13.87 | <0.01 | Oxide | ||||||||
TADD252 | 81.10 | 83.60 | 2.50 | 1.63 | 0.21 | 6.32 | 0.01 | Oxide | ||||||||
TADD252 | 103.60 | 107.15 | 3.55 | 2.31 | 0.31 | 6.94 | <0.01 | Oxide | ||||||||
TADD252 | 111.50 | 113.70 | 2.20 | 1.43 | 0.27 | 6.46 | <0.01 | Oxide | ||||||||
TADD252 | 132.55 | 135.10 | 2.55 | 1.66 | 0.61 | 12.26 | <0.01 | Oxide | ||||||||
TADD252 | 138.90 | 144.00 | 5.10 | 3.32 | 1.54 | 26.52 | 0.11 | Sulfide | ||||||||
TADD253 | 18.00 | 20.00 | 2.00 | 1.30 | 0.24 | 7.10 | <0.01 | Oxide | ||||||||
TADD253 | 24.95 | 57.90 | 32.95 | 21.42 | 0.56 | 5.11 | <0.01 | Oxide | ||||||||
TADD253 | 81.45 | 101.20 | 19.75 | 12.84 | 0.23 | 6.89 | 0.03 | Oxide | ||||||||
TADD254 | 8.00 | 24.40 | 16.40 | 10.66 | 0.30 | 11.58 | <0.01 | Oxide | ||||||||
TADD254 | 34.20 | 37.35 | 3.15 | 2.05 | 0.35 | 5.40 | <0.01 | Oxide | ||||||||
TADD254 | 68.90 | 75.20 | 6.30 | 4.10 | 0.29 | 7.63 | 0.04 | Oxide | ||||||||
TADD254 | 92.20 | 128.00 | 35.80 | 23.27 | 0.39 | 3.51 | <0.01 | Oxide | ||||||||
TADD254 | 132.60 | 134.45 | 1.85 | 1.20 | 0.68 | 12.50 | <0.01 | Oxide | ||||||||
TADD254 | 146.40 | 149.00 | 2.60 | 1.69 | 0.67 | 29.58 | 0.66 | Sulfide | ||||||||
TADD254 | 162.45 | 185.00 | 22.55 | 14.66 | 0.49 | 15.03 | 0.19 | Sulfide | ||||||||
TADD256 | 2.00 | 6.00 | 4.00 | 2.60 | 0.25 | 10.05 | <0.01 | Oxide | ||||||||
TADD256 | 42.80 | 44.50 | 1.70 | 1.11 | 1.00 | 71.10 | 0.01 | Oxide | ||||||||
TADD258 | 77.45 | 79.30 | 1.85 | 1.20 | 0.42 | 21.40 | 0.01 | Oxide | ||||||||
TADD258 | 121.80 | 124.80 | 3.00 | 1.95 | 24.99 | 29.20 | 0.02 | Oxide | ||||||||
TADD259 | 0.00 | 2.80 | 2.80 | 1.82 | 0.38 | 3.20 | <0.01 | Oxide | ||||||||
TADD259 | 47.30 | 50.30 | 3.00 | 1.95 | 0.21 | 9.59 | <0.01 | Oxide | ||||||||
TADD259 | 54.00 | 55.20 | 1.20 | 0.78 | 0.41 | 24.30 | 0.02 | Oxide | ||||||||
TADD259 | 61.20 | 64.60 | 3.40 | 2.21 | 0.40 | 11.74 | <0.01 | Oxide | ||||||||
TADD259 | 106.00 | 107.80 | 1.80 | 1.17 | 0.77 | 47.80 | 0.01 | Oxide | ||||||||
TADD261 | 12.10 | 15.70 | 3.60 | 2.34 | 0.33 | 12.70 | 0.02 | Oxide | ||||||||
TADD261 | 51.10 | 53.10 | 2.00 | 1.30 | 0.41 | 18.55 | 0.01 | Oxide | ||||||||
TADD261 | 56.90 | 64.30 | 7.40 | 4.81 | 0.59 | 8.51 | <0.01 | Oxide | ||||||||
TADD262 | 0.00 | 2.00 | 2.00 | 1.30 | 0.55 | 7.90 | <0.01 | Oxide | ||||||||
TADD262 | 38.20 | 70.20 | 32.00 | 20.80 | 0.56 | 10.74 | <0.01 | Oxide | ||||||||
including | 40.20 | 44.20 | 4.00 | 2.60 | 2.82 | 39.90 | 0.01 | Oxide | ||||||||
TADD262 | 78.20 | 80.20 | 2.00 | 1.30 | 0.94 | 6.20 | <0.01 | Oxide | ||||||||
TADD262 | 86.20 | 89.00 | 2.80 | 1.82 | 0.31 | 13.00 | 0.02 | Oxide | ||||||||
TADD262 | 98.00 | 100.00 | 2.00 | 1.30 | 0.30 | 11.50 | <0.01 | Oxide | ||||||||
TADD262 | 125.60 | 127.60 | 2.00 | 1.30 | 0.34 | 14.00 | <0.01 | Oxide | ||||||||
TADD262 | 183.20 | 184.70 | 1.50 | 0.98 | 2.49 | 35.00 | 0.04 | Oxide | ||||||||
TADD262 | 230.50 | 233.00 | 2.50 | 1.63 | 0.41 | 5.24 | 0.01 | Oxide | ||||||||
TADD262 | 244.00 | 251.10 | 7.10 | 4.62 | 0.22 | 6.31 | 0.01 | Oxide | ||||||||
TADD262 | 258.00 | 262.00 | 4.00 | 2.60 | 0.46 | 8.40 | <0.01 | Oxide | ||||||||
TADD263 | 20.40 | 24.10 | 3.70 | 2.41 | 0.23 | 13.82 | <0.01 | Oxide | ||||||||
TADD263 | 28.10 | 36.00 | 7.90 | 5.14 | 0.25 | 9.60 | 0.01 | Oxide | ||||||||
TADD263 | 55.10 | 78.90 | 23.80 | 15.47 | 0.32 | 5.12 | 0.06 | Oxide | ||||||||
TADD263 | 89.00 | 120.00 | 31.00 | 20.15 | 0.23 | 5.47 | 0.12 | Sulfide | ||||||||
TADD263 | 126.00 | 132.00 | 6.00 | 3.90 | 0.18 | 10.30 | 0.32 | Sulfide | ||||||||
TADD265 | 14.00 | 23.00 | 9.00 | 5.85 | 0.21 | 6.07 | 174.00 | Oxide | ||||||||
TADD265 | 41.00 | 153.00 | 112.00 | 72.80 | 0.46 | 6.04 | <0.01 | Oxide | ||||||||
Including | 149.80 | 151.80 | 2.00 | 1.30 | 11.75 | 70.30 | 0.04 | Oxide | ||||||||
TADD266 | 0.00 | 60.90 | 60.90 | 39.59 | 0.37 | 9.27 | <0.01 | Oxide | ||||||||
TADD266 | 66.80 | 143.60 | 76.80 | 49.92 | 0.30 | 15.03 | 0.03 | Oxide | ||||||||
TADD267 | 141.00 | 145.00 | 4.00 | 2.60 | 0.32 | 5.50 | 0.01 | Oxide | ||||||||
TADD267 | 166.30 | 169.00 | 2.70 | 1.76 | 2.59 | 51.93 | 1.18 | Sulfide | ||||||||
TADD268 | 24.00 | 30.00 | 6.00 | 3.90 | 0.28 | 12.73 | 36.00 | Oxide | ||||||||
TADD268 | 37.40 | 43.00 | 5.60 | 3.64 | 0.39 | 3.81 | <0.01 | Oxide | ||||||||
TADD268 | 53.00 | 55.00 | 2.00 | 1.30 | 0.26 | 10.10 | <0.01 | Oxide | ||||||||
TADD268 | 59.40 | 60.20 | 0.80 | 0.52 | 5.03 | 57.30 | <0.01 | Oxide | ||||||||
TADD268 | 64.00 | 66.60 | 2.60 | 1.69 | 0.28 | 14.17 | <0.01 | Oxide | ||||||||
TADD268 | 99.60 | 101.00 | 1.40 | 0.91 | 0.26 | 5.40 | 0.02 | Oxide | ||||||||
TADD270 | 85.00 | 88.50 | 3.50 | 2.28 | 0.24 | 9.63 | <0.01 | Oxide | ||||||||
TADD270 | 97.00 | 99.00 | 2.00 | 1.30 | 0.89 | 6.00 | <0.01 | Oxide | ||||||||
TADD270 | 124.00 | 126.00 | 2.00 | 1.30 | 0.36 | 12.40 | 0.02 | Oxide | ||||||||
TADD270 | 136.00 | 143.50 | 7.50 | 4.88 | 0.39 | 13.43 | <0.01 | Oxide | ||||||||
TADD270 | 182.50 | 188.20 | 5.70 | 3.71 | 0.80 | 27.58 | 0.24 | Sulfide | ||||||||
TADD272 | 22.00 | 36.00 | 14.00 | 9.10 | 0.24 | 1.90 | <0.01 | Oxide | ||||||||
TADD272 | 50.30 | 58.90 | 8.60 | 5.59 | 0.30 | 3.15 | <0.01 | Oxide | ||||||||
TADD272 | 60.90 | 62.90 | 2.00 | 1.30 | 0.17 | 2.00 | <0.01 | Oxide | ||||||||
TADD272 | 66.90 | 75.50 | 8.60 | 5.59 | 0.39 | 2.93 | <0.01 | Oxide | ||||||||
TADD272 | 82.00 | 84.50 | 2.50 | 1.63 | 0.44 | 10.50 | 0.03 | Oxide | ||||||||
TADD274 | 35.40 | 37.00 | 1.60 | 1.04 | 17.45 | 387.00 | 1.28 | Sulfide | ||||||||
TADD274 | 44.00 | 86.60 | 42.60 | 27.69 | 2.51 | 10.61 | 0.01 | Oxide | ||||||||
TADD275 | 9.00 | 21.00 | 12.00 | 7.80 | 0.39 | 5.84 | 0.01 | Oxide | ||||||||
TADD275 | 23.80 | 25.90 | 2.10 | 1.37 | 0.21 | 2.13 | <0.01 | Oxide | ||||||||
TADD275 | 65.00 | 80.80 | 15.80 | 10.27 | 0.29 | 6.15 | 0.02 | Oxide | ||||||||
TADD275 | 123.00 | 131.00 | 8.00 | 5.20 | 0.77 | 19.73 | <0.01 | Oxide | ||||||||
TADD276 | 40.00 | 42.00 | 2.00 | 1.30 | 0.68 | 15.70 | <0.01 | Oxide | ||||||||
TADD276 | 49.80 | 71.40 | 21.60 | 14.04 | 1.38 | 10.42 | <0.01 | Oxide | ||||||||
TADD276 | 79.15 | 81.30 | 2.15 | 1.40 | 0.16 | 8.75 | 0.01 | Oxide | ||||||||
TADD276 | 84.80 | 90.00 | 5.20 | 3.38 | 0.27 | 14.14 | <0.01 | Oxide | ||||||||
TADD276 | 98.45 | 100.65 | 2.20 | 1.43 | 0.31 | 12.45 | 0.01 | Oxide | ||||||||
TADD276 | 146.60 | 148.60 | 2.00 | 1.30 | 0.42 | 1.90 | <0.01 | Oxide | ||||||||
TADD276 | 178.35 | 181.40 | 3.05 | 1.98 | 0.52 | 29.39 | <0.01 | Oxide | ||||||||
TADD276 | 268.65 | 269.65 | 1.00 | 0.65 | 2.00 | 6.80 | 0.02 | Oxide | ||||||||
TADD277 | 33.80 | 51.90 | 18.10 | 11.77 | 0.83 | 9.70 | 0.01 | Oxide | ||||||||
TADD277 | 84.70 | 87.40 | 2.70 | 1.76 | 0.31 | 4.40 | <0.01 | Oxide | ||||||||
TADD277 | 90.90 | 95.70 | 4.80 | 3.12 | 0.34 | 5.74 | 0.01 | Oxide | ||||||||
*True width is averaged to 65% of the down-hole intercept, although ranges from 60-70% subject to intersection with sub-vertical veins and drilling dip. | ||||||||||||||||
Table 2 – Intercepts from Cerro Campamento
The table shows the most significant results:
DDH | FROM | TO | Downhole length |
True width* |
Au (g/t) | Ag (g/t) | Cu (%) | Ore Type | ||||||||
TADD255 | 44.00 | 61.30 | 17.30 | 5.76 | 0.79 | 8.46 | 0.02 | Oxide | ||||||||
including | 55.85 | 61.30 | 5.45 | 1.81 | 1.74 | 21.61 | 0.04 | Oxide | ||||||||
TADD255 | 65.85 | 68.20 | 2.35 | 0.78 | 0.27 | 2.78 | <0.01 | Oxide | ||||||||
TADD257 | 41.00 | 43.60 | 2.60 | 0.87 | 0.22 | 3.90 | 0.01 | Oxide | ||||||||
TADD257 | 61.70 | 71.00 | 9.30 | 3.10 | 0.98 | 6.73 | 0.07 | Sulfide | ||||||||
TADD260 | 0.00 | 3.00 | 3.00 | 1.67 | 0.32 | 11.15 | <0.01 | Oxide | ||||||||
TADD260 | 19.00 | 21.00 | 2.00 | 1.11 | 0.24 | 4.80 | <0.01 | Oxide | ||||||||
TADD260 | 44.60 | 48.00 | 3.40 | 1.89 | 0.37 | 2.15 | <0.01 | Oxide | ||||||||
TADD260 | 110.00 | 119.80 | 9.80 | 5.44 | 0.68 | 20.34 | 0.02 | Oxide | ||||||||
TADD260 | 138.00 | 141.70 | 3.70 | 2.05 | 0.34 | 38.94 | 0.02 | Oxide | ||||||||
TADD260 | 169.00 | 181.50 | 12.50 | 6.94 | 0.54 | 12.69 | 0.03 | Oxide | ||||||||
TADD264 | 84.00 | 107.45 | 23.45 | 23.45 | 0.72 | 31.51 | 0.03 | Oxide | ||||||||
TADD264 | 131.25 | 147.35 | 16.10 | 16.10 | 0.76 | 9.68 | 0.03 | Oxide | ||||||||
TADD264 | 161.00 | 163.15 | 2.15 | 2.15 | 0.32 | 16.15 | 0.39 | Sulfide | ||||||||
TADD269 | 62.50 | 76.05 | 13.55 | 11.29 | 0.59 | 24.06 | 0.01 | Oxide | ||||||||
Including | 66.30 | 66.90 | 0.60 | 0.50 | 8.96 | 389.00 | 0.09 | Oxide | ||||||||
TADD271 | 13.40 | 16.20 | 2.80 | 1.55 | 0.39 | 5.50 | <0.01 | Oxide | ||||||||
TADD271 | 29.90 | 33.25 | 3.35 | 1.86 | 1.57 | 9.33 | 0.01 | Oxide | ||||||||
TADD271 | 57.00 | 59.70 | 2.70 | 1.50 | 0.36 | 18.28 | 0.05 | Sulfide | ||||||||
TADD271 | 71.60 | 73.60 | 2.00 | 1.11 | 0.37 | 7.90 | 0.11 | Sulfide | ||||||||
TADD271 | 79.00 | 83.50 | 4.50 | 2.50 | 0.33 | 37.31 | 0.22 | Sulfide | ||||||||
TADD273 | 0.00 | 2.70 | 2.70 | 1.35 | 0.53 | 4.87 | <0.01 | Oxide | ||||||||
TADD273 | 13.60 | 27.60 | 14.00 | 7.00 | 3.07 | 31.03 | 0.01 | Oxide | ||||||||
Including | 15.60 | 23.60 | 8.00 | 4.00 | 5.19 | 45.12 | 0.02 | Oxide | ||||||||
*True width varies between 33 and 100% of the down-hole intercept, subject to intersection with sub-vertical veins and drilling dip. |
ABOUT ORVANA
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, currently in care and maintenance, and the Taguas property located in Argentina.
Figure 1. Summary Map of 2022 Drilling Campaign in Cerros Taguas, with selected intercepts (CNW Group/Orvana Minerals Corp.)
Figure 2. Summary Map of 2022 Drilling Campaign in Cerro Campamento, with selected intercepts (CNW Group/Orvana Minerals Corp.)
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