ORVANA REPORTS GEOPHYSICAL SURVEY RESULTS AND COMMENCES INITIAL DEEP DRILLING PROGRAM AT TAGUAS, ARGENTINA
Transitioning from high-cost Spanish producer to multi-asset operator as Bolivia restart looms.
The most recent news release (January 28, 2026) confirms the commencement of a 4,500-meter deep drilling program at the Taguas Project in San Juan, Argentina. This follows a geophysical survey (Induced Polarization and Magnetotelluric) that identified a north-south trending corridor with high chargeability and low resistivity. These signatures are interpreted as a potential sulfide-bearing system, specifically targeting a deep copper-gold porphyry system. The program is expected to be completed by April 2026, with the first hole planned for 1,500 meters.
The news is a follow-through on previously stated exploration goals and is Routine - Positive. - In-line with expectations: Management had communicated the Jan 2026 start date as early as September 2025. - Speculative Upside: While the geophysical data is encouraging, it remains a high-risk, deep-drilling "concept" play. The material value of Orvana currently resides in its Spanish production and the imminent Bolivian restart, not yet in Argentinian exploration. - Operational Progress: The fact that the company met its timeline for the geophysical survey and drill mobilization indicates disciplined management of exploration logistics in a challenging jurisdiction.
Orvana is a gold-copper-silver producer with a high-cost operating mine in Spain (Orovalle), a plant being restarted in Bolivia (Don Mario), and an exploration-stage project in Argentina (Taguas). - Flagship Project (Current): Orovalle, Spain. An underground operation producing approximately 30k-35k oz of gold annually. - Flagship Project (Emerging): Don Mario Oxides Stockpile Project (OSP), Bolivia. This is the company's "transformation" asset, expected to significantly increase production in 2026.