Orvana Minerals Corp. Announces Preliminary Resource Estimate for Pederson Gold Deposit

Strategic Insights -

Orvana Minerals Corp. (ORV-T), a Canadian mining company, has released a preliminary resource estimate for its 50% owned Pederson gold deposit in Bolivia. The results show significant potential for the property, with estimated resources totaling 80 million tonnes and 4 million ounces of gold. The estimate is based on over 4,000 meters of reverse circulation drilling and 2,000 meters of diamond drilling, as well as 15,000 meters of surface sampling and 2,300 meters of underground sampling.

Key Takeaways:

  • The preliminary resource estimate for the Pederson gold deposit in Bolivia totals 80 million tonnes and 4 million ounces of gold.
  • The estimate is based on drilling and sampling data from 44 holes, with 4,000 meters of reverse circulation drilling and 2,000 meters of diamond drilling.
  • The Pederson gold deposit is estimated to contain 19 million tonnes of drill indicated resources with an average grade of 1.8 g/t Au, and 18 million tonnes of inferred resources with an average grade of 1.5 g/t Au.
  • An additional four exploration targets have been identified within the same system, with the potential to contain an additional 40 million tonnes of gold.
  • The company plans to complete an additional 1,700 meters of drilling in January-February 1996 to revise the resource estimates and test additional potential.
  • Metallurgical and mining studies will also be initiated immediately.
  • The 1995 drilling program significantly expanded the Pampa Zone, which has higher grade and simpler mineralogy than the San Bernardino Zone, and is open to the north-east.

Statistics:

  • Estimated total resources: 80 million tonnes
  • Estimated total ounces of gold: 4 million ounces
  • Drill indicated resources: 19 million tonnes, average grade 1.8 g/t Au
  • Inferred resources: 18 million tonnes, average grade 1.5 g/t Au
  • Additional exploration targets: 40 million tonnes of gold
  • Drilling data: 4,000 meters of reverse circulation drilling, 2,000 meters of diamond drilling
  • Sampling data: 15,000 meters of surface sampling, 2,300 meters of underground sampling

Sources:

  • Orvana Minerals Corp. press release (exact date not specified)
  • Article from an unspecified publication (exact date and title not specified)