Orvana Reveals Q3 2018 Production Results

Orvana Minerals Corp. (TSX:ORV) provided production results for its Spanish and Bolivian operations for the third quarter of fiscal 2018, featuring consolidated gold production of 26,761 ounces, an 8 percent increase in production compared to the previous quarter.

Highlights are as follows:

Q3 2018 Highlights

  • El Valle Mine (Spain):
    • Gold production  increased by 11 percent compared to Q2 2018;
    • Gold grade remained steady at 3.36 grams per tonne from previous quarter;
  • Don Mario Mine (Bolivia):
    • Completed first full quarter of production from Cerro Felix satellite deposit, achieving gold production of 9,916 ounces and gold recovery of 92.4 percent;
  • Consolidated Results:
    • Exceeded high end of FY 2018 copper production guidance; and
    • Continued increased gold production quarter-over-quarter during FY 2018

      Production Highlights – El Valle Mine

      • Gold production at El Valle underground operations was 16,845 ounces, an increase of 11 percent compared to 15,139 ounces of gold produced in Q2 2018;
      • Copper production was 1.6 million pounds, compared to 1.4 million pounds in Q2 2018, an increase of 15 percent;
      • Ore throughput in the mill was 169,958 dmt comprised of 39 percent oxide ore, an increase of 13 percent, compared to 150,966 dmt in Q2 2018;
      • Mechanical advance rates in the oxides mining zones increased by 24 percent compared to Q2 2018, yielding 1,919 meters of development in Q3 2018. The increased rates continue to position the mine to deliver the requisite oxide ore tonnage for the mill.

      Production Highlights – Don Mario Mine

      • Gold production at the Don Mario open pit operations, was 9,916 ounces, an increase of 3 percent compared to 9,649 ounces in Q2 2018. Ore production was impacted by low grades in the upper level of Cerro Felix.  Higher grades are expected as the lower pit areas are mined in the next quarter;
      • Gold grade of 1.90 grams per tonne was 3 percent higher than 1.84 grams per tonne in Q2 2018;
      • There was no copper production in Q3 2018 as the flotation circuit was shut down at the end of previous quarter.

Juan Gavidia, CEO, commented:

At El Valle, quarterly production continues to consistently increase as a result of our successful strategy of deploying a higher oxide ore mix process in the mill, supported by the ongoing ramp-up of mechanical advance. Gold production at Don Mario was impacted by low grades in the upper level of Cerro Felix, higher gold grades are expected as mining moves to the lower levels of the pit.

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