Orvana Minerals Corp. (TSX: ORV) today announced that the company has updated the mineral resource estimate of its Taguas Project in the province of San Juan, Argentina. Taguas consists of 15 mining concessions over 3,273.87 hectares, and is situated roughly 25 kilometres north of the Veladero operation that’s owned by Barrick Gold Corp.
The NI 43-101 report estimates that there are 133.6Mt of inferred resource at 0.60 g/t gold equivalent, with 947k of gold equivalent ounces within 55.5Mt of total resource being low-cost oxides. 1,649K gold equivalent ounces are sulfides at 78.2Mt of the total resource. The total resource estimate amounts to 2,595k ounces of gold on an inferred basis.
There are three primary mineralized bodies that were identified through drilling and exploration drifts. They’re being used as hard boundaries to aid the estimation. The resource is backed by a database that features upwards of 56,585.35 metres of drilling.
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The updated oxides’ NI 43-101 Preliminary Economic Assessment is expected to be released later in the year.
Orvana Minerals Corp. last traded on the TSX at $0.41.
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