Orvana Provides Q3 FY2020 Operational Report

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Algemeen advies 16/07/2020 05:59
- All Amounts in US Dollars Unless Otherwise Stated

Gold production of 12,046 ounces
Gold-equivalent production of 14,565 ounces
Oxides Project metallurgical testing-optimization continues
Advancement of key exploration and permitting activities to extend Life-of-Mine in OroValle, Spain
Continuing comprehensive exploration activities at EMIPA, Bolivia
TORONTO, July 15, 2020 /CNW/ - Orvana Minerals Corp. (TSX: ORV) (the "Company" or "Orvana") announced today operational results for the third quarter of fiscal 2020 ("Q3 2020").

Juan Gavidia, CEO of Orvana Minerals stated: "We are pleased that Q3 production numbers clearly fulfill our expectations for steady output, notwithstanding the effects of the global pandemic stressing supply chains. Throughout these challenging conditions, Orvana has maintained focus on the health, safety and well-being of its workforce by continuously amending its operational protocols to adhere to changing COVID-19 guidance from the authorities."

OroValle

OroValle continued production during the third quarter, notwithstanding the COVID-19 situation in Spain and the related challenges to the global supply chain.
Quarterly 11,822 ounces of gold production, 3% lower than previous quarter due to lower ore grade, partially off-set by higher throughput.
Copper production was 1.5 million pounds, 7% higher than previous quarter.
Exploration programs at El Valle and Carlés continued according to plan during third quarter.
Three pandemic-related Spanish government guaranteed loans for a total of €3.8 million, at favourable rates between 1.5% and 1.6%, and terms between 12 and 36 months, were secured in Q3.
EMIPA

Quarterly 224 ounces gold production resulting from final mill cleaning of in-circuit material.
Oxides Stockpile Project (OSP): Metallurgical testing and optimization restarted in June, but at a much slower pace due to the global pandemic. Subject to the favorable completion of technical, economic and funding analysis, the OSP is expected to require approximately twelve months of development to start commercial production late in 2021.
The Company continues to compile historical exploration data and the re-evaluation of geophysical data in order to prioritize the exploration of EMIPA's targets within its 58,325 hectares of mining concessions.

Production Results
Q3 2020 Q2 2020 Q3 2019
El Valle Don Mario Total El Valle Don Mario Total El Valle Don MarioTotal
Ore milled (tones) 163,717 - 163,717 148,339 - 148,339 141,246 189,240 330,486
Gold Equivalent (oz) 14,338 227 14,565 14,843 - 14,843 16,548 6,932 23,480
see & read more on
https://www.newswire.ca/news-releases/orvana-provides-q3-fy2020-operational-report-810163545.html



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