Orvana Minerals Corp.

Orvana Minerals Corp.

January 18, 2010 09:09 ET

Orvana Reports Final Assay Batch From Its Copperwood Project

TORONTO, ONTARIO--(Marketwire - Jan. 18, 2010) - Orvana Minerals Corp. (TSX:ORV) announced today the final assay batch for holes from its Copperwood stratiform copper project in Michigan where an 82-hole, 13,000-metre drill program was completed in October, 2009.

"We now have all of the assays from this drill program. All of the data collected and the QA/QC analyses from the drill program are being compiled and interpreted in order to begin the resource-estimate process," 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" ("CBS"), at the base of the Nonesuch Formation. This sequence dips from 7o to 12o north.

For the holes reported herein, the interval-weighted copper grades range from 1.16% to 2.46% over the total thickness of the copper-bearing sequence, which is 2.0 to 3.6 metres. The silver grades range from 2.1 grams per tonne to 10.8 grams per tonne. A summary of results from these 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-09-62 Hanging Wall 225.1 225.4 0.3 0.52 14.4 NW sector
  GL/RM 225.4 226.4 1.0 1.35 13.1  
  Domino 226.4 228.1 1.7 3.09 8.0  
TOTAL - copper-bearing sequence   2.7 2.46 9.8  
CW-09-86 Hanging Wall 146.6 146.9 0.3 1.19 11.5 Central
  GL/RM 146.9 148.0 1.1 1.55 8.4  
  Domino 148.0 149.8 1.8 2.29 3.3  
TOTAL - copper-bearing sequence   2.9 2.00 5.3  
CW-09-89 Hanging Wall 48.2 48.5 0.3 1.10 2.5 S sector
  GL/RM 48.5 49.6 1.1 1.68 3.0  
  Domino 49.6 51.0 1.4 1.67 1.0  
TOTAL - copper-bearing sequence   2.5 1.67 1.9  
CW-09-93 Hanging Wall 80.6 80.9 0.3 0.95 2.6 SE sector
  GL/RM 80.9 82.3 1.4 0.94 2.2  
  Domino 82.3 83.9 1.6 2.22 3.1  
TOTAL - copper-bearing sequence   3.0 1.61 2.7  
CW-09-96 Hanging Wall 121.1 121.4 0.3 1.04 11.4 Central
  GL/RM 121.4 122.7 1.3 1.24 9.1  
  Domino 122.7 124.7 2.0 2.98 5.7  
TOTAL - copper-bearing sequence   3.3 2.28 7.1  
CW-09-100        Hanging Wall 221.3 221.6 0.3 0.02 1.5 N sector
  GL/RM 221.6 222.8 1.2 1.06 12.8  
  Domino 222.8 224.7 1.9 2.59 4.7  
TOTAL - copper-bearing sequence   3.1 1.98 7.9  
Total depths and total thicknesses are reported. The mineralized units strike approximately 090 and dip approximately 7- 12 degrees north. True thicknesses are between 96% and 99% of the total thicknesses reported herein. GL/RM – Gray Laminated/Red Massive units.


Security measures were taken to ensure the integrity and validity of the CBS 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 OES finish.

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