Orvana Minerals Corp.
TSX : ORV

Orvana Minerals Corp.

December 22, 2009 09:00 ET

Orvana Reports Additional Positive Assays From Its Copperwood Project

TORONTO, ONTARIO--(Marketwire - Dec. 22, 2009) - Orvana Minerals Corp. (TSX:ORV) announced today assays for an additional 27 holes from its Copperwood stratiform copper project in Michigan where an 82-hole, 13,000-metre drill program was completed in October, 2009. Assays from the remaining 31 holes will be received early next year.

"This batch of results provides encouraging information for the northwest sector of the deposit as the grades and thicknesses of the copper-bearing sequence continue to be favourable," said Bill Williams, VP Corporate Development.

Drill results

The main mineralization occurs as very fine-grained chalcocite hosted by black siltstone/shale, red siltstone, and gray laminated siltstone (the Domino, Red Massive and Gray Laminated Units, respectively), together called the "copper-bearing sequence", at the base of the Nonesuch Formation. This sequence dips from 7o to 12o north. More details are available on Orvana's website (www.orvana.com).

For these 27 holes, the interval-weighted copper grades range from 1.50% to 2.44% over the total thickness of the copper-bearing sequence, which is 2.2 to 3.5 metres. The silver grades range from 2.1 grams per tonne to 12.7 grams per tonne. A summary of results from these 27 holes and a location map are available on Orvana's website (www.orvana.com). Selected results are shown in the table below.

       Hole Unit From, m To, m  Interval, m Cu, % Ag, ppm  Location
CW-09-56 Hanging Wall 169.3 169.6 0.3 0.05 3.5 Central
  GL/RM 169.6 171.0 1.4 1.22 12.1  
  Domino 171.0 173.1 2.1 3.06 6.6  
TOTAL - copper-bearing sequence   3.5 2.32 8.8  
CW-09-58 Hanging Wall 184.3 184.6 0.3 0.03 2.7 Central
  GL/RM 184.6 185.8 1.2 1.05 14.3  
  Domino 185.8 187.9 2.1 2.89 6.8  
TOTAL - copper-bearing sequence   3.3 2.20 9.6  
CW-09-65 Hanging Wall 134.1 134.6 0.6 0.39 9.6 SW sector
  GL/RM 134.6 135.1 0.5 0.43 4.9  
  Domino 135.1 137.1 2.0 2.64 10.6  
TOTAL - copper-bearing sequence   2.5 2.22 9.5  
CW-09-69 Hanging Wall 82.6 83.2 0.6 1.29 10.9 SW sector
  GL/RM 83.2 84.4 1.2 1.02 6.9  
  Domino 84.4 86.6 2.2 2.07 7.0  
TOTAL - copper-bearing sequence   3.4 1.71 7.0  
CW-09-68 Hanging Wall 234.7 235.2 0.5 0.03 2.7 NW sector
  GL/RM 235.2 236.2 1.1 1.26 13.8  
  Domino 236.2 238.1 1.9 3.12 5.0  
TOTAL - copper-bearing sequence   2.9 2.44 8.2  
CW-09-72 Hanging Wall 210.6 210.9 0.3 0.41 8.4 NW sector
  GL/RM 210.9 212.4 1.5 1.20 8.2  
  Domino 212.4 214.0 1.6 3.57 2.3  
TOTAL - copper-bearing sequence   3.1 2.40 5.2  
Total depths and total thicknesses are reported. The mineralized units dip approximately 7-12 degrees north. GL/RM – Gray Laminated/Red Massive units.

Engineering Studies

Orvana has contracted engineering firms to evaluate and provide conceptual design alternatives and costs for an underground operation at Copperwood. These studies will be integrated with a resource estimate that meets the standards of National Instrument 43-101 – Standards of Disclosure for Mineral Projects - targeted for the first half of fiscal 2010.

QA/QC

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 certified reference materials, blanks, duplicates and check assays. Copper and silver were determined using an agua regia extraction with an ICP finish. A thorough discussion of Orvana's QA/QC Copperwood protocols can be found on the website www.orvana.com.

Qualified Person

The technical information contained in this document was prepared under the supervision of Theodore Bornhorst, Ph.D., P.Geo., a qualified person who is independent of Orvana for the purposes of NI 43-101.

About Orvana

Orvana Minerals is a gold producer with a strong balance sheet and is transforming itself into a multi-mine gold and copper producer. Orvana owns and operates the Don Mario Mine in Bolivia and is developing two other promising assets: the advanced-stage El Valle-Boinás/Carles ´gold- copper project in Northern Spain and the Copperwood copper project in Michigan. Additional information is available at Orvana's website (www.orvana.com).

Forward Looking Disclaimer

Certain statements in this press release constitute forward-looking statements or forward- looking information within the meaning of applicable securities laws ("forward-looking statements"). Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, potentials, future events or performance (often, but not always, using words or phrases such as "believes", "expects" "plans", "estimates" or "intends" or stating that certain actions, events or results "may", "could", "would", "might", "will" or "are projected to" be taken or achieved) are not statements of historical fact, but are forward-looking statements.

Forward-looking statements relate to, among other things, all aspects of the development of the Copperwood project and its potential development, operation and production.

Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Orvana as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The estimates and assumptions of Orvana on which statements in this news release are based may prove to be incorrect, and they include, but are not limited to, the various assumptions set forth herein and in the Company's most recently filed Annual Information Form as well as permitting and development at the Copperwood project being consistent with the Company's current expectations.

A variety of inherent risks, uncertainties and factors, many of which are beyond the Company's control, affect the operations, performance and results of the Company and its business, and could cause actual results to differ materially from estimated or anticipated events or results expressed or implied by forward looking statements in this press release. Some of these risks, uncertainties and factors include the Company's ability to obtain and maintain all necessary regulatory approvals and licenses; risks generally associated with mineral exploration and development, including the Company's ability to develop the Copperwood project; and the risks identified in Orvana's Annual Information Form.

Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and except as required by law, the Company does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change. Readers are cautioned not to put undue reliance on forward-looking statements.

Contact Information

  • Orvana Minerals Corp.
    Jane Watson
    Investor Relations
    +1 (647) 221-9505