Monday, 17 June 2013

Orvana mine hoist damaged; record production numbers recorded

Orvana Minerals Corp. (TSE:ORV) announced Monday material damage sustained by its hoist/shaft system at the Boinas Mine, part of its primary asset, the El Valle/Boinas/Carles gold-copper mine in northern Spain, as the result of an incident that occurred in the early hours of Sunday June 16.
A fully loaded skip overran the safety interlocks in the headframe, the hoisting rope broke, and the skip dropped to shaft bottom damaging the loading pocket. No injuries occurred and the Toronto-based miner has an investigation underway. 
The multi-mine gold and copper producer is updating its production plans using ramp haulage at the Boinas Mine, the methodology used prior to the hoist system becoming operational. Operations at the Carles Mine continue unaffected.
"We are grateful that there were no injuries related to this incident and are reviewing what the impact will be to our operations at Boinas," said interim president and CEO, Michael Winship, in a release Monday.  
Better news for the company comes with the announcement of results for April and May at the flagship EVBC operation, with strong mining and processing performances and higher than average grade credited as the reasons behind record production numbers for the month of May.
Figures for the month came in at 6,963 ounces of gold produced, up from the 5,586 ounces recorded for April. Copper production for the month was reported as being 663,562 pounds, up from April’s 593,973 pounds, while silver production for the month was 19,499 ounces, an increase on the 17,563 ounces produced during April.
At the company’s Don Mario copper-gold-silver mine in eastern Bolivia, known as UMZ from the site’s Upper Mineralized Zone deposit, production for the month of May was also up, with 1,343 ounces of gold produced, compared to April’s 1,062 ounces, and 868,696 pounds of copper recorded compared to the 846,028 pounds the month before.
Silver production for the site was down however, with May’s 64,579 ounces of silver a drop from April’s 77,020 ounces. The improved recoveries were attributed by the company in a statement released with the figures to the “optimization of the mining and blending of ore feed to the processing plant.”
The company also provided an update on its Copperwood copper project in Michigan, with the announcement of the receipt of the Safe Dams Permit Draft for the project. With this permitting in place, the company is continuing to advance the project by way of optimization work continuing towards a feasibility study, with a focus on additional metallurgical testing and mine design.
"Our excellent production numbers at our EVBC Mine during our third quarter to date highlight our commitment to continuing to ramp up production while initiating cost reductions," said Winship.
"Progress continues to be made at our Copperwood Project and we continue to evaluate options to enhance the value of Copperwood to Orvana's shareholders." 

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