Drilling Commences On Lidia Project In Spain

TORONTO - Orvana Minerals Corp. reported the commencement of exploration drilling at its Lidia project, located 20 km in a straight line from the El Valle mine, in Asturias, Spain. An update is also being provided about the Carles Deep drilling performed in fiscal 2020.

The Lidia Project is comprised of one investigation permit covering 2,576 hectares in the Navelgas Gold Belt in the region of Asturias, Spain. It is a historic project previously explored by Rio Narcea Gold Mines Ltd. (RNGM). During RNGM's exploration campaign in 1998, hole Lin-4 was drilled, testing a copper/gold soil anomaly along the northern margin of the Linares intrusive complex. Lin-4 encountered a thick section of altered granodiorite averaging 0.4 grams per tonne gold over a width of 208 meters. The geochemistry and alteration are indicative of a gold porphyry system.

Orvana has performed several exploration activities at the Lidia Project, starting with the validation of historical drill hole assay at its El Valle laboratory (re-logging and re-sampling); and continuing with 1:10,000 geological mapping, and rock sampling, in 2016. Between 2017 and 2018 a geophysics campaign was also completed.

4,000 DDH meters are planned to drill in two targets. One is a potential skarn mineralization along the western edge of the granodiorite and the other is a gold porphyry system. The drilling program is expected to be completed by March 2021.

Orvana has completed the analysis of its Carles Deep drilling campaign carried earlier in the year. A total of 2,367 meters were drilled in one borehole plus 3 wedges. All four DDH's intercepted the targeted skarn orebody extension at depth, as expected. With the encouraging verification of the continuity of the skarn, 400 meters downdip, the Company will now assess the potential of this area in the context of a long term mine design strategy.

Raul Alvarez, Head of Exploration, said, "We are optimistic about this new drilling campaign at Lidia, as historical data suggests the potential identification of a new gold project for Orvana. Lidia, and Carles Deep, are the latest examples of our robust exploration commitment in the Asturias Region.”