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El Valle-Boinás/Carlés
Orvana is expeditiously advancing the El Valle-Boinás/Carlés
gold-copper project, located in the Rio Narcea Gold Belt in Northern
Spain with production expected to start up in the spring of 2011.
The project has a plant and a mill with 750,000 tonnes per year capacity
as well as extensive infrastructure. The El Valle Mill includes a
primary crusher, SAG and ball mills, pebble crusher, flotation cells,
concentrate thickener and filtration, gravity circuit, CIL, cyanide
destruction, carbon regeneration, elution electro-winning, calcining and
smelting, reagent preparation and water recovery. Auxiliary facilities
include offices, warehouses, maintenance shops, change houses, and a
sample preparation and fire assay laboratory. The abandoned El Valle pit
will be used as the tailings impoundment.
In July of 2010, the Company reported the results of a technical report
entitled “Technical Report on the Boinás and Carlés Gold Mines,
Asturias, Spain” dated April 30, 2010, which stated reserves and
developed a conceptual seven year mine plan for the project. The
seven year mine plan generates approximately 105,000 ounces of gold, 8.6
million pounds of copper and 160,000 ounces of silver.
The El Valle-Boinás/Carlés area produced about 950,000 ounces of gold
and nearly 14,000 tonnes of copper during the period 1997-2006, about
90% by open-pit methods. Kinbauri bought the assets in 2007 and during
2007-2008 it completed both surface and underground drilling at Carlés
and El Valle, successfully increasing resources throughout the district.
Orvana acquired the El Valle-Boinás/Carlés Project in September 2009
through the purchase of Kinbauri Gold Corp.
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El Valle mill and offices

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