Announcement • Apr 09
Orvana Minerals Corp Reports Initial Results from Deep Drilling Program At Taguas
Orvana Minerals Corp. reported an update on the progress to date, initial assay results, and planned next steps of the ongoing deep drilling campaign at its 100%-owned Taguas Project in San Juan, Argentina. The Company has expanded its evaluation of the Taguas Project beyond the near-surface oxidized gold-silver resource outlined in the 2021 Preliminary Economic Assessment to include the underlying sulfide mineralization and potential porphyry-style copper-gold mineralization. The Company completed an updated geological model for the Taguas Project and conducted a geophysical survey, designed to identify potential deeper targets to a depth of 1,500 metres. Results from the geophysical survey, combined with the recent review of historical exploration data have been used to prioritize key targets for the initial deep drilling, which is now underway. As of April 7, 2026, 1,326 metres had been drilled on drill hole TADD-278. Drilling progress has been notably slowed by the structurally complex fault zones encountered. Drilling has intersected a vertically zoned hydrothermal system transitioning from a high-sulfidation epithermal environment into a deeper porphyry setting. These results are preliminary in nature and subject to receipt of additional assays and verification. While the results are encouraging, additional drilling is required to determine the extent, continuity and economic significance of the mineralization. The upper section is dominated by rhyolitic tuffs with argillic alteration, evolving into dacitic volcanics and a sericitic-altered intrusive from 736 metres depth. Increased veining intensity, the presence of A- and B-type veins, and the appearance of molybdenum-bearing veinlets are interpreted to be consistent with a porphyry-style system, although the core has not yet been intersected. Preliminary assay results from 715 to 920 metres returned 0.25 g/t gold and 0.12% copper over 205 metres (downhole length). Chalcopyrite occurs only in trace amounts, while pyrite dominates. Assay data and identified mineralogy support the interpretation that drilling remains within the upper to intermediate levels of the mineralized system. Assays from 920 metres to the current depth remain pending. The Company expects to continue advancing drill hole TADD–278, targeting a final depth in the range of 1,500 to 2,000 metres. No additional drill holes are planned for the current field season due to anticipated adverse weather conditions associated with the arrival of winter season. Completion of drilling and full data analysis, together with geological mapping, petrographic studies, and a technical review, are expected to provide further insight into the system and support planning of the next exploration campaign. Further updates on drilling results, along with additional analytical and geological information, are expected as additional assay results are received and analyzed. Samples were prepared and analyzed by Alex Stewart International Argentina SA Laboratory in Mendoza. This laboratory is ISO 9001; ISO 17025, and ISO 14001 certified. Samples were prepared following the P-5 laboratory preparation code: the samples were dried, crushed to passing 10 mesh (>80%), riffle split of 1kg sample and pulverized to 106 microns (>95%). The assays included 50 g Au by fire assay (FA), AA finish and 39 element package with aqua regia dilution and ICP OES finish. Over limits for Au and Ag were run in 50 g sample by FA and gravimetric method finish. Coarse and pulp rejects were returned and are stored in a storage facility in Mendoza, Argentina. The reported work has been completed using industry standard procedures, including a quality assurance/quality control ("QA/QC") program consisting of the insertion of quarter core field duplicates, coarse duplicates split after laboratory crushing, pulp duplicates split after laboratory pulverization, coarse analytical blank samples and 2 different CRMs inserted in batches of roughly 50 samples.
