Orvana Minerals Corp. has provided the following production results for the El Valle Mine (El Valle) in Spain and Don Mario Mine (Don Mario) in Bolivia for the fourth quarter of fiscal 2017 (4Q17) and full year fiscal 2017 (FY17).
- 90 292 gold ounces produced met FY17 guidance.
- Record consolidated quarterly gold production of 27 666 ounces.
- Fiscal year 2018 gold production guidance increases to 110 000 to 120 000 ounces.
- El Valle: 4Q17 gold production increased by 11%, compared to 3Q17 due to higher grade and recovery – mill throughput averaged 2113 tpd.
- Don Mario: operation transformed through successful implementation of re-commissioned carbon-in-leach circuit achieving an 84% increase in gold production compared to fiscal 2016, driven by gold recovery exceeding target of 80% since commissioning of the CIL Circuit in 2Q17.
"We set out in fiscal 2017 with aggressive plans to substantially increase gold production at both operations," stated Jim Gilbert, Chairman and CEO. "We are very pleased to have met our overall operational objectives in fiscal 2017. The investments made at both operations resulted in an aggregate increase in Orvana's annual gold production of over 35% compared to fiscal 2016. Looking forward, we expect this positive trend to continue during fiscal 2018. At El Valle, the key objective is to achieve and sustain significant grade improvement by mining a larger proportion of high gold grade oxide zones. At Don Mario, production will transition to the Cerro Felix deposit which is the first phase of the anticipated three-year mine life extension."
Production – El Valle mine
- The El Valle and Carlés Mines produced 15 201 ounces of gold in 4Q17, an increase of 11% compared to 13 705 ounces of gold produced in 3Q17.
- Copper production in 4Q17 was 1.3 million pounds, compared to 1.9 million pounds in 3Q17.
- Increased quarterly gold production was primarily due to higher grade of 2.65 g/t in 4Q17 vs 2.35 g/t in 3Q17, as well as higher average recoveries, partially offset by lower mill throughput.
Production – Don Mario mine
- During 4Q17, Don Mario achieved gold recovery of 86%, surpassing targeted gold recovery rate of 80%.
- Gold production was 12 465 ounces, in line with 12 709 ounces of gold produced in 3Q17. Gold production was impacted by a slightly lower gold grade of 2.59 g/t in 4Q17 versus 2.66 g/t in 3Q17.
- Copper production in 4Q17 was 2.3 million lb, compared to 2.0 million lb in 3Q17, primarily driven by an increase in copper grade of 15%.
Read the article online at: https://www.globalminingreview.com/mining/18102017/orvana-records-increased-gold-production/