Agoracom: Small Cap Investment - Orvana Minerals - New Drill Results and Historical Core Reassays From Copperwood Project

Welcome To The Orvana Minerals HUB On AGORACOM

Operations: Copper-gold-silver-mine in Bolivia, Gold/copper mine/Mill in Spain and its developing copper project in Michigan

Reply New Message

Back To Forum List View

Clavis

Rank: President [?]

Points: 26378 [?]

Votes: 242 Score: 3.6 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

New Drill Results and Historical Core Reassays From Copperwood Project

posted on Feb 13, 2009 05:02AM

February 13, 2009

Orvana Reports New Drill Results and Historical Core Reassays From Copperwood Project, Michigan

TORONTO, ONTARIO--(Marketwire - Feb. 13, 2009) - Orvana Minerals Corp. (TSX:ORV) is pleased to announce assay results from five of six new drill holes that were targeted to intersect the copper-bearing lithologic section at its Copperwood Project, located on the south limb of the Western Syncline, Michigan. These holes were a part of a 20-hole program that was designed to monitor groundwater, as reported in the February 11, 2009 Orvana press release. A summary of the results is as follows:

---------------------------------------------------------
             From       To     Interval      Cu      Ag
Hole        (Feet)   (Feet)       (Feet)      %     ppm
---------------------------------------------------------
---------------------------------------------------------
CW-08-09   124.10   135.35        11.25    1.52     3.0
CW-08-13   449.65   460.35        10.70    2.21     6.9
CW-08-16   668.30   678.30        10.00    2.24     6.4
CW-08-17   538.80   549.30        10.50    1.82     4.2
CW-08-20   310.75   321.00        10.25    1.66     2.9
---------------------------------------------------------
---------------------------------------------------------

Last year, Orvana obtained core from 11 of the 42 holes drilled during the 1950s within T49N, R46W, Section 1, part of the land covered by the Copperwood mineral leases, as reported in the September 10, 2008 Orvana press release. Six of these holes were considered to be acceptable for resampling and assaying as part of the validation of the historical assays. A total of 54 intervals from the remaining AQ-sized half core, within which the 1950s sampling tags were intact, were re-sampled. The comparative assay results are given in Table 1 below.

All the holes were drilled vertical into stratiform mineralization that dips approximately 10-15 degrees. Recoveries were 100%.

The stratiform copper deposit at Copperwood is hosted by shales and siltstones of the Nonesuch Formation and is analogous to the mineralization exploited at the inactive White Pine mine located 18 miles to the northeast.

Bill Williams, Vice President of Corporate Development, said, "The results from our new drilling and the resampling of core from historical drilling confirm our belief that the results from the 1950s program are reliable. We are now even more confident of the thickness and grade of the mineralization defined previously by historical drilling."

Orvana has engaged AMEC E & C Services Inc. of Phoenix, Arizona to audit the core handling and sampling protocol, definitively assess whether the historical data is valid, aid in the design of the upcoming delineation drill program, and ultimately estimate mineral resources with the expectation of achieving measured and indicated confidence categories by year end.

Table 1. Comparison of historical and current results.

----------------------------------------------------------------------------
             From     From    Interval   Historic       Cu               Ag
Hole        (Feet)   (Feet)      (Feet)     Cu, %        %              ppm
----------------------------------------------------------------------------
----------------------------------------------------------------------------
M57-W48    530.35   534.04        3.69       0.05     0.02    less than 0.2
M57-W48    534.04   537.61        3.57       1.51     0.13              0.2
M57-W48    537.61   541.15        3.54       1.53     0.12              0.2
M57-W48    541.15   542.54        1.39       0.61     0.23              0.4
M57-W48    542.54   543.54        1.00       0.20     0.84              0.8
M57-W48    543.54   544.54        1.00       0.46     0.34              0.6
M57-W48    544.54   545.30        0.76       0.38     0.67              2.2
M57-W48    545.30   546.36        1.06       0.67     0.63              0.9
M57-W48    546.36   548.12        1.76       1.79     1.79             28.9
M57-W48    548.12   548.83        0.71       1.08     1.19              1.4
M57-W48    548.83   550.34        1.51       0.15     0.16              3.7
----------------------------------------------------------------------------
M57-W52    371.66   374.69        3.03       0.23     0.21              0.5
M57-W52    374.69   375.69        1.00       0.87     0.26              0.7
M57-W52    375.69   376.69        1.00       0.59     0.82              2.1
M57-W52    376.69   378.57        1.88       1.95     1.98              3.9
M57-W52    378.57   379.72        1.15       1.00     0.83              1.8
M57-W52    379.72   381.57        1.85       0.26     0.26              0.8
M57-W52    381.57   386.07        4.50       1.64     2.48              3.0
M57-W52    386.07   387.07        1.00       0.02     0.01              4.0
----------------------------------------------------------------------------
M57-W58    355.25   356.95        1.70       0.07     0.05              2.7
M57-W58    356.95   357.95        1.00       1.64     0.67             11.3
M57-W58    357.95   358.95        1.00       1.02     1.03             10.1
M57-W58    358.95   360.05        1.10       2.56     2.53             19.5
M57-W58    360.05   361.11        1.06       1.23     1.22              6.9
M57-W58    361.11   362.80        1.69       0.38     0.32              1.3
M57-W58    362.80   365.00        2.20       3.89     4.59             14.1
M57-W58    365.00   369.10        4.10       2.38     3.19              4.0
M57-W58    369.10   369.80        0.70       0.04     0.01              5.5
----------------------------------------------------------------------------
M57-W64    519.00   520.40        1.40       0.28     0.05              1.6
M57-W64    520.40   521.00        0.60       0.57     0.52              6.7
M57-W64    521.00   523.12        2.12       1.63     2.08             13.0
M57-W64    523.12   524.15        1.03       0.59     0.49              1.8
M57-W64    524.15   529.15        5.00       2.65     3.40              6.3
M57-W64    529.15   531.09        1.94       0.26     0.30              4.1
----------------------------------------------------------------------------
M57-W109   207.02   208.60        1.58       0.17     0.47              1.6
M57-W109   208.60   209.41        0.81       0.77     0.76              3.4
M57-W109   209.41   210.51        1.10       0.69     0.63              1.9
M57-W109   210.51   211.10        0.59       0.34     0.31              1.2
M57-W109   211.10   211.93        0.83       2.15     2.60              7.6
M57-W109   211.93   212.66        0.73       1.91     2.17              5.4
M57-W109   212.66   213.14        0.48       1.39     1.44              3.6
M57-W109   213.14   213.46        0.32       0.62     0.54              1.6
M57-W109   213.46   214.30        0.84       4.95     5.43             12.4
M57-W109   214.30   215.63        1.33       1.30     1.32              2.7
M57-W109   215.63   218.63        3.00       1.72     1.79              3.0
M57-W109   218.63   220.00        1.37       0.10     0.08              1.8
----------------------------------------------------------------------------
M57-W116   121.55   123.92        2.37       0.14     0.13              0.5
M57-W116   123.92   125.67        1.75       0.30     0.31              1.1
M57-W116   125.67   127.93        2.26       0.51     0.47              1.7
M57-W116   127.93   128.46        0.53       2.01     2.00              5.3
M57-W116   128.46   130.87        2.41       0.69     0.80              2.2
M57-W116   130.87   132.40        1.53       0.35     0.34              0.9
M57-W116   132.40   137.78        5.38       2.11     2.30              4.4
M57-W116   137.78   139.33        1.55       0.01     0.01              0.9
----------------------------------------------------------------------------

Differences between the historic and new assays are expected since the quarter split of the remaining core half is not the same material that was originally sampled. In some cases, results can be reasoned to be in error based on geological observations, for instance, intervals in M57-W48. Overall, the differences are not statistically significant over the population resampled. Weighted averages for the 54 samples are 1.19% Cu and 1.24% Cu for the historic and new assays, respectively. These values remain conceptual in nature as there has been insufficient exploration to define a mineral resource and it is uncertain whether further exploration will result in the target being delineated as a mineral resource.

Security measures were taken to ensure the integrity and validity of the mineralization and proximal rocks in the new drill core. The core was sampled based on the lithostratigraphy established by the Copperwood geologic team. Assays were completed by Activation Laboratories Ltd., an ISO/IEC 17025 and CAN-P-1579 registered laboratory. The QA/QC protocol included internal and laboratory standards and blanks. AR-ICP values were determined using an agua regia extraction with an ICP/OES finish. Assay values were determined for samples with Cu greater than 1000 ppm also using an agua regia extraction with an ICP/OES finish. Maps, cross-sections, handling and sampling protocols, QA/QC, statistical evaluations, and photographs are available on Orvana's website at www.orvana.com.

Theodore Bornhorst, Ph.D., P. Geo., a consultant to Orvana and a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed, verified and approved the scientific and technical content of this news release.

About Orvana

Orvana Minerals Corp. is a Canadian mining and exploration company based in Toronto, Canada, involved in the evaluation, development and mining of precious and base metal deposits in the Americas. The Company owns and operates the Don Mario Mine in eastern Bolivia. Orvana's long-term goal is to become a low cost, long-life, multi-mine gold and base metals producer in the Americas. Orvana's shares have been listed on the Toronto Stock Exchange since 1992 under the trading symbol ORV. Further information on Orvana may be found on the Company's website at www.orvana.com and on SEDAR at www.sedar.com.

12 Recommendations

Reply New Message

Back To Forum List View

Please to post a reply