Highlights
Q1 2022 production of 15,921 gold equivalent ounces - a 32% sequential increase
7,022 m of infill and brownfield drilling in Orovalle,
1,415 m of greenfield drilling in Orovalle,
20.66 g/t Au over 2.9 meters intercepted in Ortosa-Godan, Orovalle,
Q1 2022 Production Results
Production of 15,921 gold equivalent ounces, a 32% increase from Q4 2021
11,731 gold ounces produced, on track to meet fiscal year 2022 guidance of 48,000 - 53,000 Oz.
1.5 million copper pounds produced, on track to meet fiscal year 2022 guidance of 5,800 - 6,500 Oz.
Ortosa-Godan
Orovalle started an exploration drilling program at the end of
The last two drill holes were planned to intersect mineralization related with N40E structures. Drill hole 21ORW05 intercepted 2.9 mts with 20.66 g/t Au in a undrilled area. 21ORW06 was completed to the South from previous one and sample assays are pending
The drilling campaign will continue in the second quarter of fiscal year 2022 targeting the establishment of continuity of the mineralization intersected in 21ORW05.
Quality Control
21OWR01 and 21ORW02 ddh samples were analyzed by the Orovalle laboratory, which is ISO 9001:2015 certified. Drill holes 21ORW03, 21ORW04, 21ORW05 and 21OWR06 samples were sent to an external laboratory (
Sample preparation was carried out at the El Valle facility. All diamond core samples have been prepared using the following procedure, once split: The core samples are dried at a temperature of 105C and then crushed through a jaw crusher to 95%10,000 ppm, specific analysis methods are used to determinate the final grade.
The reported work has been completed using industry standard procedures, including a quality assurance/quality control ('QA/QC') program consisting of the insertion of certified reference material, blanks and duplicates samples into the sample stream.
Lidia
El Valle Boinas
Orovalle's main operation Q1 FY2022 drilling program continued with its focus on upgrading Inferred resources, with a total of 5,086 m of infill drilling. Further 492 m of brownfield drilling were completed to define the continuity of the recently discovered E2 structure to the North. The drilling program for next months will be in line with this quarter.
Carles
1,444 meters were completed during de first quarter of fiscal 2022. It is expected to complete the infill program in the second quarter.
Cautionary Statements - Forward-Looking Information
Certain statements in this presentation constitute forward-looking statements or forward-looking information within the meaning of applicable securities laws ('forward-looking statements'). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as 'believes', 'expects', 'plans', 'estimates' or 'intends' or stating that certain actions, events or results 'may', 'could', 'would', 'might', 'will' or 'are projected to' be taken or achieved) are not statements of historical fact, but are forward-looking statements.
The forward-looking statements herein relate to, among other things, Orvana's ability to achieve improvement in free cash flow; the ability to maintain expected mining rates and expected throughput rates at El Valle Plant; the potential to extend the mine life of
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies, which includes, without limitation, as particularly set out in the notes accompanying the Company's most recently filed financial statements. The estimates and assumptions of the Company contained or incorporated by reference in this information, which may prove to be incorrect, include, but are not limited to the various assumptions set forth herein and in Orvana's most recently filed Management's Discussion & Analysis and Annual Information Form in respect of the Company's most recently completed fiscal year (the 'Company Disclosures') or as otherwise expressly incorporated herein by reference as well as: there being no significant disruptions affecting operations, whether due to labour disruptions, supply disruptions, power disruptions, damage to equipment or otherwise; permitting, development, operations, expansion and acquisitions at El Valle and
A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual events or results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements. Some of these risks, uncertainties and factors include: the potential impact of the COVID-19 on the Company's business and operations, including: our ability to continue operations; our ability to manage challenges presented by COVID-19; the accounting treatment of COVID-19 related matters; Orvana's ability to prevent and/or mitigate the impact of COVID-19 and other infectious diseases at or near our mines; our ability to support the sustainability of our business including through the development of crisis management plans, increasing stock levels for key supplies, monitoring of guidance from the medical community, and engagement with local communities and authorities; fluctuations in the price of gold, silver and copper; the need to recalculate estimates of resources based on actual production experience; the failure to achieve production estimates; variations in the grade of ore mined; variations in the cost of operations; the availability of qualified personnel; the Company's ability to obtain and maintain all necessary regulatory approvals and licenses; the Company's ability to use cyanide in its mining operations; risks generally associated with mineral exploration and development, including the Company's ability to continue to operate the El Valle and/or ability to resume long-term operations at the
Any forward-looking statements made herein with respect to the anticipated development and exploration of the Company's mineral projects are intended to provide an overview of management's expectations with respect to certain future activities of the Company and may not be appropriate for other purposes. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions and, except as required by law, the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Readers are cautioned not to put undue reliance on forward-looking statements. The forward-looking statements made in this information are intended to provide an overview of management's expectations with respect to certain future operating activities of the Company and may not be appropriate for other purposes.
Contact:
Tel: 416 369 1629
Fax: 416 369 1402
Email: nmenendez@orvana.com
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