Orvana Reveals Taguas Project Phase I Infill & Growth Drilling Results

(Orvana, 6.Jun.2022) —Orvana Minerals Corp. (TSX: ORV) announced 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 (“NI 43-101“) while moderately expanding the ore tonnage previously reported in the Company’s NI 43-101 compliant Taguas preliminary economic assessment report dated 29 December 2021 and filed on SEDAR on 11 February 2022 (the “Taguas 2021 PEA“). 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:

  • Phase I infill and growth drilling program on Taguas Oxides completed (41 holes totaling 6,482.6 meters).
  • Mineralization encountered in all 41 holes.
  • Grades generally equaling-improving average previous resource grades included in the Taguas 2021 PEA.
  • Best drilling results included:
    • TADD244: 61.2 meters @ 0.82 g/t Au and 16.59 g/t Ag
    • TADD265: 72.8 meters @ 0.46 g/t Au and   6.04 g/t Ag
    • TADD274: 27.7 meters @ 2.51 g/t Au and 10.61 g/t Ag
  • Potential to reduce strip ratio in next open pit re-design.
  • Phase II infill and growth drilling program expected to start in November 2022: additional 11,000 meters in Cerros Taguas Sector and 3,000 meters in Cerro Campamento Sector.
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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