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Bullboard - Stock Discussion Forum Orvana Minerals Corp T.ORV

Alternate Symbol(s):  ORVMF

Orvana Minerals Corp. is a multi-mine gold-copper-silver company. It is involved in the evaluation, development and mining of precious and base metal deposits. Its assets consist of the producing El Valle and Carles gold-copper-silver mines in northern Spain, the Don Mario gold-silver property in Bolivia, and the Taguas property located in Argentina. The El Valle and Carles mines and the El... see more

TSX:ORV - Post Discussion

Orvana Minerals Corp > High Angle East High Grade zone at Orovalle
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Post by ganndolph1 on Aug 01, 2021 3:58pm

High Angle East High Grade zone at Orovalle

Zone Crossection DDH From To Thickness Au (g/t) Ag (g/t) Cu (%) AuEq
HAE HG 0 20HA34 22.35 25.6 3.25 50.44 2.88 0.13 50.60749
HAE HG 0 21HA62 55.85 60.15 4.3 38.38 76.35 4.22 43.66273
HAE HG 0 21HA65 49.5 51.4 2.9 6.93 71.3 3.68 11.57922
HAE HG 0 20HA31 21 24 3 26.98 2.63 0.54 27.59173
HAE HG 0 20HA32 15.9 19 3.1 17.43 3.94 0.13 17.60703
 
The above drill holes show the intercepts of the High Angle East (High Grade) ore body which averages 3.3 meters in thickness and has an average gold grade of 29.2 g/t, an average silver grade of 34 g/t, and an average copper grade of 1.88 percent.

Drill hole 20HA34 was highlighted in the October 22, 2020 NR in which Orvana announced the new discovery of High Angle East.  There was only one problem.  The high grade drill holes 20HA31, 20HA32, and 20HA34 were not shown on that news release.  This high grade vein started at 15-20 meters away from the drilling platform at elevation around 340 meters. 

Highlights
  • Drillhole highlights:
    • 20HA34: 3.25m. at 50.44 g/t Au
    • 20HA35: 20.35m. at 6.14 g/t Au
    • 20HA40: 25.40m. at 5.50 g/t Au
  • Ag and Cu also economic (up to 216 g/t Ag and 4.54% Cu).
  • Located 100 metres from current drift of Boinas East.
  • Structure remains open along strike and to depth.
  • Mineralization similar to other altered skarn in El Valle.
Mr. Ral lvarez, Head of Exploration of Orvana stated: "We are pleased with the discovery of High Angle East, which confirms our hypothesis that new mineralized structures east from current operations are possible. Our immediate exploration targets now are to complete the definition of High Angle East and to keep pursuing more eastbound gold structures along the south-to-north axis that defines our El Valle Mine. These encouraging results at El Valle are part of Orvana's exploration strategy focused on increasing the life of mine at its current operations".


In the April 15th,  2021 exploration update NR, Orvana released the drill hole results for 20HA62 which featured the same 3 meter wide high grade ore zone this time with a gold grade of 38.38 g/t, silver at 76 g/t, and copper at 4.22 percent. But this drill hole was not included in the graphics shown with this news release.  However, hole 21HA60 was shown in cross section  DD' with a drilling platform at elevation 200 meters.  I concluded that 21HA62 would have been drilled from that same platform, and the distance between the two drilling platforms is 250 meters in the horizontal, and 150 meters in the vertical.

With the July 14's news release Orvana confirmed that hole 21HA62 and 21HA65 intercepted this same 3 meter wide high grade ore body, which is shown to be open to the north and south. 
  • If the HAE high grade vein is continuous over the 250 meter distance between the two drilling platforms, and the vertical strike is 150 meters, then this ore vein could contain up to 209,000 ounces of gold, 227,000 ounces of silver, and 8.7 million pounds of copper.
  • The larger HAE ore body averages 8.8 meters in thickness, and contains an estimated 1.75 million tonnes of ore grading 4.64 g/t gold, silver grading 5.76 g/t, and 0.19 percent copper for a total of 263,000 ounces of gold, 326,000 ounces of silver, and 7.56 million pounds of copper.
  • Based on the 2020 43-101 report on Orovalle, the HAE inferred resource estimate was 34,000 ounces of gold,  127,000 ounces of silver, and 966,000 pounds of copper. 
Comment by Nergy on Aug 02, 2021 3:29pm
Nice digging ganndolph, Orvana has probably never been more undervalued based on the exploration and operational success the last year. But I guess the Perma bashers soon will step in talking about AISC in the $1600-1700/oz.Although it's pretty obvious that the AISC is around $1400/oz, with massive resource growth and various development programs.
Comment by ganndolph1 on Aug 02, 2021 4:57pm
Nergy, If you go back and look at the February 10, 2020 news release, that was the NR where  hole 19HA26 intercepted the HAE high grade zone at 21.45 meters (highlighted in yellow below), with the HAE intercept starting at 150 meters highlighted in green. I didn't pay much attention to this exploration result at the time, but when I started graphing out the various cross sections. how ...more  
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