ORVANA REPORTS Q3 FY2024 PRODUCTION AND EXPLORATION UPDATE FROM OROVALLE, SPAIN

Highlights Highlights Juan Gavidia, CEO of Orvana stated:"We are pleased with the operational recovery at Orovalle after a challenging first half of the year. We have achieved a quarterly production of more than 150,000 tonnes, improving at the same time gold grade and recovery. We believe that Orovalle can continue increasing production levels, at the same time that we maintain our focus on safe and efficient operations". Q3 FY2024 Production Results (1)  Gold Equivalent...

TORONTO, 17/07/2024 (informazione.it - comunicati stampa - industria)

Juan Gavidia , CEO of Orvana stated:

 Gold Equivalent Ounces ("GEO") were calculated using the following average market prices:

Q3 FY2024: $2,337.99 /oz Au, $28.86 /oz Ag, $4.42 /lb Cu
Q2 FY2024: $2,071.76 /oz Au, $23.36 /oz Ag, $3.83 /lb Cu
Q3 FY2023: $1,977.33 /oz Au, $24.20 /oz Ag, $3.85 /lb Cu

1,722 m of infill drilling were executed in Area 208 (oxides) targeting to convert inferred resources into measured and indicated. Area 208 is formed by several parallel oxide structures into limestone with variable width affected by fault displacements and dipping to the east. Mineralization is open to the east. Infill drilling program will continue during the fourth quarter.

1,039 m were drilled continuing with the mineral definition between Boinas South and Black Skarn to add new resources. Eight brownfield drill holes were executed intersecting calcic garnet skarn with narrow mineralized bands in deeper levels and to the north. Drilling program will continue during the first part of the fourth quarter to complete the mineral definition.

Infill and brownfield drill holes samples were analyzed in Orovalle's Laboratory.

Sample preparation was carried out at the El Valle facility. All diamond core samples have been prepared using the following procedure, once split:

After sample preparation, 30g 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 ("QA/QC") 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.

Q3 FY2024 financial highlights will be released with the third quarter financials, expected mid-August, 2024. 

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 . Additional information is available at Orvana's website ( www.orvana .com). 

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