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Orvana Intercepts 5.5 g/t Au over 25.4 meters in a New Gold Structure Discovery at El Valle, Spain

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Orvana Intercepts 5.5 g/t Au over 25.4 meters in a New Gold Structure Discovery at El Valle, Spain

 

 

 

 

 

Orvana Minerals Corp. (TSX: ORV) is pleased to announce the discovery of the new “High Angle East” mineralized gold structure at its El Valle deposit in northern Spain. The High Angle East structure is located in the southeastern part of the El Valle deposit, as further described below (see Figure 1). The discovery is based on 12 diamond drill holes, totaling 4,137 meters, completed as part of its 2020 exploration program,

 

Highlights

 

  • Drillhole highlights:
    • 20HA34: 3.25m. at 50.44 g/t Au
    • 20HA35: 20.35m. at 6.14 g/t Au
    • 20HA40: 25.40m. at 5.50 g/t Au
  • Ag and Cu also economic (up to 216 g/t Ag and 4.54% Cu).
  • Located 100 metres from current drift of Boinas East.
  • Structure remains open along strike and to depth.
  • Mineralization similar to other altered skarn in El Valle.

 

Mr. Raúl Álvarez, Head of Exploration of Orvana stated: “We are pleased with the discovery of High Angle East, which confirms our hypothesis that new mineralized structures east from current operations are possible. Our immediate exploration targets now are to complete the definition of High Angle East and to keep pursuing more eastbound gold structures along the south-to-north axis that defines our El Valle Mine. These encouraging results at El Valle are part of Orvana’s exploration strategy focused on increasing the life of mine at its current operations”.

 

The main target of Orovalle’s fiscal 2020 brownfield drilling program at El Valle has been to verify the existence of new structures to the east of the High Angle zone, following the regional trends with a strike of N35ºE. The program has confirmed the presence of a mineralized structure between 1 and 25 meters thick, hosted within an altered skarn, with incipient oxidation becoming semi-jasperoid breccias. The style of the mineralization and associated alteration appears similar to other altered skarn structures in El Valle.

 

High Angle East is located in the southeastern part of El Valle deposit, 100 meters away of Boinas East; It has been initially defined between two sections separated by 150 meters in strike, and 100 meters downdip. The structure is expected to remain open to the Northeast and at depth (see Section A-A’ & Section B-B’ below).

 

550 meters are budgeted to drill in High Angle East in the first quarter of fiscal 2021, targeting to confirm continuity of the structure to the Northeast and at depth (see Section B-B’).

 

Table 1. DDH Drilling Assay Results

 

 

DDH From (m) To (m) Thick (m)* Au (g/t) Ag (g/t) Cu (%)
20HA30 No Intercepts >1.5 g/t Au    
20HA31 21.00 24.00 3.00 26.98 2.63 0.54
20HA31 135.45 137.8 2.35 3.74 5.94 0.25
20HA32 15.90 19.00 3.10 17.43 3.94 0.13
20HA33 165.15 175.05 9.90 2.03 5.67 0.23
Including 166.60 168.00 1.40 5.54 1.70 0.02
20HA34 22.35 25.60 3.25 50.44 2.88 0.13
20HA35 134.50 136.50 2.00 2.81 1.70 0.02
20HA35 162.00 164.60 2.60 5.82 7.42 0.11
20HA35 170.30 190.65 20.35 6.14 4.75 0.24
Including 170.30 176.60 6.30 15.55 5.30 0.53
20HA36 106.10 107.95 1.85 9.25 219 4.54
20HA37 No Intercepts >1.5 g/t Au    
20HA38 198.10 205.25 7.15 3.45 5.15 0.06
20HA38 213.00 214.50 1.50 2.92 8.50 0.06
20HA39 189.80 190.85 1.05 3.31 85.0 1.45
20HA40 180.60 206.00 25.4 5.50 6.79 0.05
Including 200.80 203.70 2.90 27.22 12.52 0.02
20HA40 208.95 210.55 1.60 1.77 1.8 0.00
20HA40 213.75 215.45 1.70 2.15 0.5 0.00
20HA41 160.10 161.10 1.00 1.52 0.5 0.01
20HA41 208.80 209.95 1.15 1.69 9.1 0.17
20HA41 213.70 214.80 1.10 4.34 11.7 0.89
20HA42 Assays pending      
                     
* Reported intercepts are not true widths as there is currently insufficient data to calculate true orientation.
                     

 

Exploration Quality Control and Qualified Persons

 

The analytical work for the 2020 brownfield drilling program is being performed by Orovalle’s laboratory, which is ISO 9001:2015 certified. Sample preparation was carried out at its El Valle facility. All diamond core samples has been prepared using the following procedure, once split:

 

  • The core samples are dried at a temperature of 105ºC, after that is crushed through a jaw crusher to 95%<6 mm. The coarse-crushed sample is further reduced to 95%><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 to a nominal -200 mesh using an LM2 bowl-and-puck pulverizer. 140 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, 30 g samples are analyzed for Au by fire assay with an atomic absorption spectroscopy (AAS) finish and two-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.

 

The reported work has been completed using industry standard procedures, including a quality assurance/quality control 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. Ms. Collar Menéndez has approved the scientific and technical disclosure of the exploration results contained in this press release. 

 

Technical Reports

 

In fiscal 2014, the Company engaged an independent engineering firm, Roscoe Postle Associates Inc. to complete a technical report on El Valle and Carlés Mines in compliance with the requirements of National Instrument 43-101 of the Canadian Securities Administrators entitled “Standards of Disclosure of Mineral Projects”. The report, “Technical Report on El Valle Boinás-Carlés Operation, Asturias, Spain”, dated September 26, 2014, was prepared under the supervision of Mr. Jason J. Cox, P.Eng., who is a qualified person independent of the Company for the purposes of NI 43-101, and it was filed on September 29, 2014 (“El Valle Mine 43-101 Report”). The full text is available for viewing on SEDAR at www.sedar.com.

 

OroValle is currently preparing an update to the mineral resources and mineral reserves estimates (the “MRMR Update”) and the life-of-mine plan (the “LOMP Update”) for El Valle and Carles gold-copper mines in northern Spain. These updates are being prepared in accordance with CIM Definition Standards (2014) and in compliance with the Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects by RPA, now part of SLR Consulting Ltd., an independent mining consulting firm. The Company expects to complete the work in December 2020.

 

About Orvana Minerals

 

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 and the Don Mario gold-silver property in Bolivia, currently in care and maintenance.

 


Figure 1 (CNW Group/Orvana Minerals Corp.)

 


Section A-A’ (CNW Group/Orvana Minerals Corp.)

 


Section B-B’ (CNW Group/Orvana Minerals Corp.)

 

 

Posted October 22, 2020

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