Orvana Minerals Corp. reported an update on the progress to date, initial assay results, and planned next steps of the ongoing deep drilling campaign at its 100%-owned Taguas Project in San Juan Province.
By Panorama Minero
Raúl Álvarez, Director of Exploration and Technical Services of Orvana, commented: "We are encouraged by the results obtained to date. The upcoming metres of drilling are expected to further improve our understanding of the Taguas mineral system."
Strategic Context
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The Company has expanded its evaluation of the Taguas Project beyond the near-surface oxidized gold-silver resource outlined in the 2021 Preliminary Economic Assessment to include the underlying sulfide mineralization and potential porphyry-style copper-gold mineralization.
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The Company completed an updated geological model for the Taguas Project and conducted a geophysical survey, designed to identify potential deeper targets to a depth of 1,500 metres.
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Results from the geophysical survey, combined with the recent review of historical exploration data have been used to prioritize key targets for the initial deep drilling, which is now underway.
Deep Drilling Results to Date
-As of April 7, 2026, 1,326 metres had been drilled on drill hole TADD-278. Drilling progress has been notably slowed by the structurally complex fault zones encountered.
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Drilling has intersected a vertically zoned hydrothermal system transitioning from a high-sulfidation epithermal environment into a deeper porphyry setting. These results are preliminary in nature and subject to receipt of additional assays and verification. While the results are encouraging, additional drilling is required to determine the extent, continuity and economic significance of the mineralization.
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The upper section is dominated by rhyolitic tuffs with argillic alteration, evolving into dacitic volcanics and a sericitic-altered intrusive from 736 metres depth. Increased veining intensity, the presence of A- and B-type veins, and the appearance of molybdenum-bearing veinlets are interpreted to be consistent with a porphyry-style system, although the core has not yet been intersected.
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Preliminary assay results from 715 to 920 metres returned 0.25 g/t gold and 0.12% copper over 205 metres (downhole length). Chalcopyrite occurs only in trace amounts, while pyrite dominates. Assay data and identified mineralogy support the interpretation that drilling remains within the upper to intermediate levels of the mineralized system.
Assays from 920 metres to the current depth remain pending.
Next Steps
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The Company expects to continue advancing drill hole TADD–278, targeting a final depth in the range of 1,500 to 2,000 metres.
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No additional drill holes are planned for the current field season due to anticipated adverse weather conditions associated with the arrival of winter season.
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Completion of drilling and full data analysis, together with geological mapping, petrographic studies, and a technical review, are expected to provide further insight into the system and support planning of the next exploration campaign.
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Further updates on drilling results, along with additional analytical and geological information, are expected as additional assay results are received and analyzed.
