See Orvana’s Annual Information Form dated December 20, 2023 for the fiscal year-ended September 31, 2023, pages 25-27 ("AIF).
Mineral Reserves and Resources Estimates
Reproduced at “Appendix B – Principal Mineral Projects – Don Mario” of the AIF is the summary 43-101 Technical Report for the Don Mario Property, Eastern Bolivia. The full text of the Don Mario Oxide Stockpile 43-101 Report is available for viewing at www.sedarplus.ca. Defined terms and abbreviations used herein and not otherwise defined shall have the meanings ascribed to such terms in the Don Mario Oxide Stockpile 43-101 Report. The following tables summarize the Mineral Resource and Mineral Reserve estimates for EMIPA as at September 30, 2023:
Mineral Resources
|
Don Mario - Oxide Stockpile Mineral Resources – September 30,
2023
Measured
|
|
Location/Zone
|
Tonnage
(000 t)
|
Grade
(g/t Au)
|
Grade
(% Cu)
|
Grade
(g/t Ag)
|
Contained Metal
(000 oz Au)
|
Contained Metal
(t Cu)
|
Contained Metal
(000 oz Ag)
|
|
DM1 Oxide
|
492
|
2.24
|
1.74
|
54.4
|
35.4
|
8,559.6
|
861.0
|
|
DM2 (Oxide Pre-strip)
|
278
|
1.90
|
1.98
|
17.9
|
17.0
|
5,508.8
|
160.5
|
|
DM3 (Dolomite Oxide)
|
190
|
1.89
|
1.96
|
21.6
|
11.5
|
3,724.0
|
132.1
|
|
Plant (Stockpile Oxide)
|
515
|
1.61
|
1.57
|
57.8
|
26.7
|
8,108.3
|
958.3
|
|
DM4 (Stock Talco)
|
506
|
1.61
|
2.38
|
63.5
|
26.2
|
12,067.4
|
1,033.2
|
|
DM5 (Dolomite Oxide)
|
202
|
1.86
|
1.64
|
48.7
|
12.1
|
3,314.4
|
316.2
|
|
DM6 (Tremolite Oxide)
|
|
|
|
|
|
|
|
|
Total
|
2,184
|
1.84
|
1.89
|
49.3
|
129.0
|
41,282.6
|
3,461.2
|
Notes:
-
CIM (2014) definitions were followed for Mineral Resources as originally
prepared by G. Zandonai (effective date 30 Sept. 2021), a Qualified Person
for the purposes of NI43-101, who is an employee of DGCS SA and is
independent of the Company.
- Mineral resources estimate has not been updated since September 2021.
-
Mineral Resources were estimated using average long-term prices US$ 1,700
per ounce gold, US$3.25 per pound copper and US$20 per ounce silver.
- Numbers may not add due to rounding.
-
Mineral Resources that are not mineral reserves do not have demonstrated
economic viability.
|
Don Mario - Tailings Reprocessing Project Mineral Resources –
September 30, 2023
|
|
|
Indicated
|
Inferred
|
|
Cut Off
(g/t Au)
|
Tonnage
(000 t)
|
Grade
(g/t Au)
|
Grade
(g/t Ag)
|
Grade
(% Cu)
|
Tonnage
(000 t)
|
Grade
(g/t Au)
|
Grade
(g/t Ag)
|
Grade
(% Cu)
|
|
0.7
|
3
|
0.71
|
5.24
|
0.64
|
6
|
0.71
|
4.69
|
0.64
|
|
0.6
|
161
|
0.64
|
4.78
|
0.57
|
132
|
0.64
|
3.81
|
0.47
|
|
0.5
|
906
|
0.55
|
4.37
|
0.52
|
521
|
0.57
|
2.62
|
0.35
|
|
0.4
|
2,866
|
0.48
|
4.72
|
0.52
|
982
|
0.51
|
3.23
|
0.37
|
|
0.3
|
4,422
|
0.44
|
4.83
|
0.50
|
1,671
|
0.45
|
3.53
|
0.38
|
|
0.2
|
5,438
|
0.40
|
4.78
|
0.48
|
2,172
|
0.40
|
3.47
|
0.37
|
|
0.1
|
6,448
|
0.36
|
4.59
|
0.46
|
2,375
|
0.38
|
3.43
|
0.36
|
Notes:
- CIM (2014) definitions were followed for Mineral Resources.
- Mineral resources estimate has not been updated since September 2022.
- Numbers may not add due to rounding.
-
Highlighted Base Case Au 0.3 g/t cut-off considered for the project life.
- Numbers may not add due to rounding.
-
Mineral Resources that are not mineral reserves do not have demonstrated
economic viability
-
The updated mineral resource estimates for Tailings Reprocessing Project as
at September 30, 2022 were prepared by EMIPA under the supervision of Mr.
Luis Isla, Qualified Person for the purposes of NI43-101 and the Chief of
Geology of EMIPA, based on updating resource block models incorporating
drilling results from January 1, 2022 to February 28, 2022.
Mineral Reserves
|
Don Mario - Oxide Stockpile Mineral Reserves - September 30,
2023
Proven
|
|
Location/Zone
|
Tonnage
(000 t)
|
Grade
(g/t Au)
|
Grade
(% Cu)
|
Grade
(g/t Ag)
|
Contained Metal
(000 oz Au)
|
Contained Metal
(t Cu)
|
Contained Metal
(000 oz Ag)
|
|
DM1 Oxide
|
467
|
2.24
|
1.74
|
54.4
|
33.7
|
8,132
|
818.0
|
|
DM2 (Oxide Pre-strip)
|
264
|
1.90
|
1.98
|
17.9
|
16.1
|
5,233
|
152.5
|
|
DM3 (Dolomite Oxide)
|
181
|
1.89
|
1.96
|
21.6
|
11.0
|
3,538
|
125.5
|
|
Plant (Stockpile Oxide)
|
490
|
1.61
|
1.57
|
57.8
|
25.4
|
7,703
|
910.3
|
|
DM4 (Stock Talco)
|
438
|
1.65
|
2.44
|
64.9
|
23.2
|
10,683
|
914.7
|
|
DM5 (Dolomite Oxide)
|
192
|
1.86
|
1.64
|
48.7
|
11.5
|
3,149
|
300.4
|
|
Total
|
2,032
|
1.85
|
1.89
|
49.3
|
120.9
|
38,438
|
3,221.3
|
Estimated metal recoveries based on processing by sulphidation.
Notes:
-
CIM (2014) definitions were followed for Mineral Reserves as originally
prepared by G. Zandonai (effective date 30 Sept. 2021), a Qualified Person
for the purposes of NI43-101, who is an employee of DGCS SA and is
independent of the Company.
- Mineral reserves estimate has not been updated since September 2021.
-
Mineral Reserves were estimated using a long-term gold price of $ 1,600 per
ounce, copper price of $3.00 per pound and a silver price of $18 per ounce.
-
Mineral Reserves (exclusive of in situ). Numbers may not add due to
rounding.