Tuesday, 21 August 2012

Orvana Minerals posts July production results from operations in Spain and Bolivia

Orvana Minerals Corp. (TSE:ORV) disclosed Tuesday July production results from its El Valle-Boinas Carles gold-copper mine in northern Spain. 
The Toronto-based precious metals miner said output at the mine reached 45,851 tonnes. It produced 4,449 gold ounces with a head grade of 3.20 grams per tonne (g/t) and a recovery rate around 94.4 per cent.
This compares with June production of 4,976 ounces of gold, with a head grade of 3.35 grams g/t and recoveries at 93.9 per cent.
The El Valle mine, which is held by Kinbauri Espana, a unit of Orvana, also produced 389,078 pounds of copper showing grades of 0.44 per cent and an 87.6 per cent recovery rate. 
Silver production reached 11,788 ounces with a 9.7 g/t head grade and an 82.5 per cent recovery rate. 
The El Valle-Boinas Carles project is found in the Rio Narcea Gold Belt in northern Spain, near the port city of Avilés.
"We commissioned the EVBC shaft and expect it to be fully operational in September," said chief operating officer Jim Jacques.
In addition, the company posted July results from its Don Mario copper-gold and silver mine in eastern Bolivia, which is held by Empresa Minera Paititi.
Output at Don Mario's Upper Mineralized Zone reached 76,488 tonnes. Gold production stood at 1,481 ounces with a head grade of 1.68 g/t and recovery rates of 35.8 per cent. 
Copper production reached 1.35 million pounds, showing head grades of 1.68 per cent, and a 47.9 per cent recovery rate.
Meanwhile, silver production totalled 90,121 ounces with a 83.2 g/t head grade and a recovery rate of 44 per cent. 
The Don Mario district is in the Chiquitos Province of eastern Bolivia and has three main mineral deposits, of which the largest is the Don Mario Lower Mineralized Zone. But this mine was depleted in 2009. 
The second, lower-grade Las Tojas gold deposit, began production in August 2009 and was also depleted in April of 2011. 
The third deposit, the Upper Mineralized Zone is an open-pit copper gold-silver deposit, which went into commercial production in January 2012. The UMZ has an estimated mine life of nine years.

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