Announcement Date: 2022-04-18
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Orvana Minerals Corp.
Project name: Orovalle
Location: Spain
Commodities: Gold
Highlight: Drilling results incl. 196.5m @ 0.53g/t Au from 96.1m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: TORONTO, ONTARIO, April 15, 2022 – Orvana Minerals Corp. (TSX:ORV) (the “Company” or “Orvana”) is pleased to report production results and drilling updates from Orovalle, Orvana’s unit in Spain, for the second quarter of fiscal year 2022 (“Q2 FY2022”), being the period ended March 31, 2022. Orovalle’s gold porphyry Lidia Project is located in the Navelgas Gold Belt, 20 km from El Valle mine. Lidia occurs within the easternmost of the Navelgas fracture systems. A granodiorite intrusive outcrops over an area of approximately 1 km2. It is dissected by a set of northeast trending mineralized quartz veins and affected by different alteration phases. The drilling program started in fiscal 2021 with 1,017 meters drilled. The second phase started in December 2021, focused on defining the continuity of Au mineralization into the intrusive. Four drill holes, totaling 1,405 meters were drilled in the first half of FY2022, confirming the presence of gold in the granodiorite, averaging 0.53 g/t Au over 196.50 meters (DDH 22LIDIA04). The Company expects to continue the program in Lidia in September 2022 drilling two sections, to the North and to South from current drilled area respectively, in order to prove continuity of Au mineralization in N-S strike and at depth.
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