UPDATE: Orvana Revises Resource and Reserve Estimates for Upper Mineralized Zone Copper-Gold-Silver Mine, Bolivia; Shares Slip 1.3%

By Midnight Trader,  December 13, 2012, 10:21:54 AM EDT

Orvana Minerals Corp. (ORV.TO), through its wholly-owned subsidiary, Empresa Minera Paititi (EMIPA), today provided an updated resource and reserve estimates for its Don Mario UMZ copper-gold-silver mine operations in Bolivia. During 2012, EMIPA made significant changes to the mining and processing aspects of the operation thus warranting an update.

The updated NI 43-101-compliant resource and reserve estimates contains approximately 177,000 ounces of gold, 5.6 million ounces of silver, and 120 million pounds of copper, which is a decrease of about 5%, 2%, and 11%, respectively, after considerations for production through September 30, 2012 as well as the exclusion of certain oxide mineralization whose metals cannot be extracted economically; testing of these ores will continue in order to seek a viable extraction method, Orvana said.

Orvana is very near a yr low of 78 cents.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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