The Prospector News

Orvana Produces 27,302 Gold Ounces in 2nd Quarter Fiscal Year 2019

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Orvana Produces 27,302 Gold Ounces in 2nd Quarter Fiscal Year 2019

 

 

 

 

 

Orvana Minerals Corp. (TSX:ORV) is pleased to provide production results for the second quarter of fiscal 2019 for its El Valle Mine in Spain and Don Mario Mine in Bolivia.

 

Q2 FY2019 Highlights:

 

  • Gold output, at 27,302 ounces, on track to meet 2019 guidance
  • Gold-equivalent output, at 31,112 ounces, bearing strong Copper performance
  • The Company continues to pursue its objectives of lowering unitary cash costs and maximizing free cash flow while increasing its output
  • Brownfield and greenfield exploration continues at EMIPA and Orovalle to extend the life of both mines

 

CEO Juan Gavidia stated, “These mid-year results build upon our record achievements in FY2018 and demonstrates our ability to deliver excellent operational results on a consistent quarter-by-quarter basis. Orvana’s experienced Spanish and Bolivian teams continue to successfully execute on our annual plans and longer-term strategy while maintaining safety and environmental standards”.

 

El Valle

 

  • Quarterly 17,738 ounces gold production was 7% higher than previous quarter, and 17% higher than same quarter last fiscal year. Better results due to higher ore grade on improved oxides/skarns blending.
  • Gold head grade of 3.49 g/t improved, compared to 3.24 g/t reported in Q1 FY2019.
  • Copper production was 1.44 million pounds, compared to 1.37 million pounds in Q1 FY2019.
  • Mine exploration activities continue to focus on high-grade oxides areas to ensure optimum feed blending for years to come.

 

Don Mario

 

  • Quarterly 9,564 ounces gold production was 11% lower than previous quarter, but similar to same quarter last fiscal year. Year-to-date results are on track to meet FY2019 Guidance and are also consistent with planned lower ore grade. 
  • Gold recovery of 94.0% was in line with 94.1% recovery in Q1 FY2019.
  • Engineering to develop a Sulphidization-Acidification-Recycling-Thickening “(SART”) circuit, and associated leach pad, continues to progress. This undertaking is designed to add an additional three years of mine life, starting in FY2021, for Don Mario.
  • Mine exploration activities are focused on completing Las Tojas open pit infill drilling in order to complete tonnage/grade for FY2020 mine plan.

 

Production Results

 

 

                 
    Q2 2019     Q1 2019   Q2 2018 FY 2019
  El   
Valle
Don
Mario
Total El   
Valle
Don
Mario
Total El   
Valle
Don
Mario
Total Guidance
                     
Ore milled (tones) 170,435 188,606 359,041 170,399 186,996 357,395 150,966 178,698 329,664  
Gold Equivalent (oz) 21,435 9,677 31,112 20,186 10,802 30,988 19,022 12,883 31,905  
Gold                    
Grade (g/t) 3.49 1.68 2.54 3.24 1.90 2.54 3.36 1.84 2.54  
Recovery (%) 92.7 94.0 93.4 93.2 94.1 93.7 92.9 91.3 92.2  
Production (oz) 17,738 9,564 27,302 16,546 10,726 27,272 15,139 9,649 24,788 100,000 – 110,000
Copper                    
Grade (%) 0.49   0.48 0.48   0.48 0.51 0.62 0.57  
Recovery (%) 78.1   78.1 75.9   75.9 80.4 50.3 63.0  
Production (K lbs) 1,442   1,442 1,375   1,375 1,372 1,237 2,609 3,200 – 3,600

 

 

Financial Performance

Second Quarter costs and financial highlights to be available by mid-May, 2019.

 

About Orvana

Orvana is a multi-mine gold and copper producer. Orvana’s operating assets consist of the producing El Valle and Carlés gold-copper-silver mines in northern Spain and the producing Don Mario gold mine in Bolivia.

 

Posted April 17, 2019

Share this news article

MORE or "UNCATEGORIZED"


VIZSLA SILVER AGREES TO ACQUIRE NEWLY CONSOLIDATED PAST-PRODUCING SILVER DISTRICT IN THE EMERGING SILVER-GOLD-RICH PANUCO - SAN DIMAS CORRIDOR IN MEXICO

Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) i... READ MORE

March 28, 2024

Additional Drill Results Highlighted by Hole D-380 in Block 6 at Oko West, Intersecting 39.7 m Grading 5.27 g/t Au Including 2.8 m @ 14.18 g/t Au and 13.0 m Grading 10.50 g/t Au

Reunion Gold Corporation (TSX-V: RGD) (OTCQX: RGDFF) is pleased t... READ MORE

March 28, 2024

STLLR Gold’s Tower Gold Project Infill Drilling Continues to Confirm Mineralization at the Jonpol Deposit

STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) announces ... READ MORE

March 28, 2024

Hudbay Provides Annual Reserve and Resource Update and Production Outlook

Consolidated copper production is expected to average 153,000i to... READ MORE

March 28, 2024

Aya Gold & Silver: Record 2023 Production, Revenue and Operating Cash Flow

Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased t... READ MORE

March 28, 2024

Copyright 2024 The Prospector News