RE:RE:Orvana Completes Wyckoff Accumulation Pattern with Springauburn2,
Orvana listed their drilling results for infill drilling at the El Valle mine in Spain in the Q3 MD&A.
Here's what they reported:
Orvana drills 5 meters at 85 g/t GOLD!
Hidden on page 10 of the fiscal Q3 MD&A is the following summary of last quarter's exploration results. One would think that 5 meters at 85 g/t gold would merit a separate news release. However, it is obvious that management is keeping a low profile
El Valle Growth Exploration
Over 4,900 meters of drilling was completed in the third quarter of fiscal 2018 in the El Valle Mine.
Infill drilling production was focused on oxides areas to convert inferred resources into measured and indicated ones. Also, new inferred resources were added with a brownfield drilling program. Both programs were completed in three oxides areas: Area 107, Villar Zone and Oxides Black Skarn, with positive results.
Brownfield exploration drilling in Oxides Black Skarn is being successful. The oxide mineralization is proving to continue, as shown in the last drill holes completed in the same section, which shows an oxide structure with around 10 mts of width.
As an example, DDH 18V1628 intersected 9.9 mts with 6.1 g/tAu, 37.9 g/t Ag and 0.8% Cu; DDH 18V1632 intersected 15.7 mts with 7.1 g/t Au, 57.8 g/t Ag and 1.3% Cu.
Orovalle continues working in this area to confirm the lateral extension of this mineralization.
Exploration drilling in Area107 and Villar zone is proving continuity, i.e., drill holes intersected A107 first and Villar zone after. DDH 18AR340-12 intersected A107 in 10.5 mts with 6.4 g/t Au extending the mineralization to the South. Same drill hole intersected Villar zone deeper: 5 mts with 85 g/t Au and 3.6 mts with 7.3 g/t Au; the mineralization is open to the South part.
DDH 18AR340-15 intersected A107 (infill) and Villar zone: 15.5 mts with 4.9 g/t Au.
Greenfield exploration has advanced in the last month with the approved local authorization for drilling at Quintana (located close to El Valle Mine’s southern tip), Orovalle is planning to start this drilling program in August. Regarding Lidia prospect (located in Navelgas gold belt), meetings with local Authorities are being scheduled to obtain required authorization
Read more at https://www.stockhouse.com/companies/bullboard?symbol=t.orv&postid=28496653#2ml4zx1xeFYWJX7z.99
At Don Mario in Bolivia, Orvana management says that they will have drilling results by the end of the fiscal year which ends in September. Since Orvana is scheduled to present at the Denver Gold Forum, my guess is that we should expect drilling results by mid September.
What caught my eye is that they spent $1.196 million USD in drilling in fiscal Q2, and then in Q3 they spent another $1.444 million USD on drilling. IMHO, they would not have done this unless they found a significant gold deposit. So I expect to see drilling results posted in the next couple of weeks.