TORONTO, July 16, 2024 /CNW/ - Orvana Minerals Corp. (TSX:ORV) (the "Company" or "Orvana") is pleased to report production and exploration updates for the third quarter of fiscal year 2024 ("Q3 FY2024) ending June 30, 2024 and revised guidance for production for the year ended September 30, 2024, from Orovalle, Spain.

Highlights

Q3 FY2024 Production: 13,078 Gold Equivalent Ounces, 29% higher than the previous quarter.

Outlook: Production guidance for the fiscal year ended September 30, 2024 ("FY2024") is updated from that disclosed in the Company's Management's Discussion and Analysis for the three and six months ended March 31, 2024.
FY2024 Production


Previous Guidance

Revised Guidance

Gold (oz)


41,000 - 45,000

37,000 – 39,000

Copper (million lbs)


3.3 – 3.7

3.7 – 3.9

Q3 FY2024 Exploration: 2,835 m of Infill and Brownfield drilling, with key intercepts in Boinas South and Area 208 as follows:
DDH 24SB200: 14.00 m @ 11.82 g/t Au
DDH 24A21927: 13.20 m @ 4.04 g/t Au
DDH 24A21929: 7.25 m @ 10.32 g/t Au
DDH 24A21935: 4.40 m @ 5.29 g/t Au
DDH 24A21936: 11.70 m @ 4.94 g/t Au
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

The mill processed approximately 150,843 tonnes, 11% higher than the prior quarter.
Gold production was 39% higher than the prior quarter due to higher tonnage milled, grade and recovery.
Copper production was 10% lower than the prior quarter due to lower grade and recovery, partially offset by higher tonnage milled.
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https://www.orvana.com/English/news/news-details/2024/ORVANA-REPORTS-Q3-FY2024-PRODUCTION-AND-EXPLORATION-UPDATE-FROM-OROVALLE-SPAIN/default.aspx