New numbers are in from the Don Mario project of Orvana Minerals (ORV-T).
By incorporating the results of the 1996 drill program at the Bolivian project, Orvana has increased the reserves in what is termed the “lower mineralized unit” to 1.4 million tonnes grading 14 grams gold per tonne, after dilution.
A re-evaluation of the “upper mineralized unit” is in progress, incorporating results of new surface mapping and sampling with previous drill data. A revised estimate of the total resource, which Orvana expects to be about 1 million oz. gold (not including copper and silver credits), will be completed in 1997.
Based on the results of a scoping study, Don Mario could be in production as early as 1998, with an initial output exceeding 100,000 oz. gold annually.
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