Orvana begins deep drilling at Taguas after geophysics

Executive Summary

• Orvana Minerals Corp. reports the completion of induced polarization (IP) and magnetotelluric (MT) geophysical surveys at its Taguas project in Argentina, which identified a north-south-trending corridor with elevated chargeability and deep zones of moderate to low resistivity, suggestive of sulphide-bearing systems.
• The company has commenced its initial deep drilling program at Taguas to test for a potential deep porphyry copper-gold system, following the repositioning of the project beyond its near-surface oxidized gold-silver resource.
• Geological modeling and spectral scanning have identified coherent alteration and geochemical vectors consistent with porphyry-style mineralization along a 2.5-kilometre corridor, supporting the decision to drill targets at depths up to 1,500 metres.

Key Details

• Geophysical Survey Results:
  • Conducted by Ridgeback Geofisica Argentina S.A. across a four-square-kilometre area between Cerro Campamento and Cerro Cuarto.
  • Magnetotelluric (MT) survey provided 3-D subsurface resistivity models down to approximately 1,500 metres.
  • Induced Polarization (IP) survey generated chargeability models to depths of 800–1,000 metres.
  • Integrated data outlines a north-south-trending corridor of elevated chargeability coincident with a deep zone of moderate to low resistivity, interpreted as consistent with possible sulphide mineralization at depth.
  • The anomaly remains open to the north and south.
• Geological Modeling & Alteration:
  • Relogging of historical drill holes combined with VNIR-SWIR spectral scanning identified alteration and geochemical vectors consistent with porphyry-style mineralization along a 2.5-kilometre north-south corridor (Cerro Campamento to Cerro IV).
  • SWIR data reveals consistent gradients indicating increasing temperature conditions and proximity to a magmatic heat source.
  • Mineralogical trends are spatially coincident with increasing Copper (Cu) and Molybdenum (Mo) values at depth.
  • Presence of early B-type quartz veinlets indicates proximity to the high-temperature magmatic-hydrothermal core of a potential deep porphyry system.
• Drilling Program Details:
  • Objective: Test for a potential deep porphyry copper-gold system; first time drilling for this specific target at Taguas.
  • Start Date: January 2026.
  • Expected Completion: April 2026 (subject to conditions).
  • Scope: Preliminary program of approximately 4,500 metres using one drill rig.
  • Initial Target: Core of the low resistivity zone between Cerro Taguas Norte and Cerro Campamento.
  • Planned Hole Length: 1,500 metres.
  • Reporting: Results to be released as they become available, subject to analysis and verification.
• Strategic Context:
  • Project repositioned to evaluate broader potential beyond the near-surface oxidized gold-silver resource defined in the 2021 Preliminary Economic Assessment.
  • Includes evaluation of underlying sulphide mineralization and potential deep porphyry copper-gold system.
• Historical Resource Estimates:
  • Independent Technical Report NI 43-101 published June 30, 2021.
  • Updated mineral resource estimate for Cerros Taguas completed by Geosim Services in September 2022.

Notable Quotes

• "The integration of deep-penetrating geophysics with geological and geochemical data sets has significantly enhanced our drill targeting at Taguas, and this initial deep drilling campaign represents an important step in testing the project's potential for copper-gold mineralization at depth." — Juan Gavidia, Chief Executive Officer