Orvana Minerals Corp. produced 10,833 gold equivalent ounces during the third quarter of fiscal 2026 at its Orovalle operation in northern Spain, marking an increase from the 9,827 gold equivalent ounces produced in the previous period.

The higher output was driven by gold production reaching 9,656 ounces, up from 8,468 ounces in the prior quarter, supported by a 13% increase in gold grade. The mill processed 131,244 dry tonnes during the period, remaining in line with the 130,506 dry tonnes processed previously, with ore sourced from parallel operations at the El Valle Boinás and Carlés mines. Copper production reached 0.6 million pounds, down 17% compared to the prior quarter due to a 6% lower copper grade and an 11% drop in recovery resulting from metallurgical adjustments made to maintain concentrate quality.

At the Don Mario operation in Bolivia, Empresa Minera Paitití S.A. completed commissioning across the crushing, milling, thickening, acid leaching, filtration, copper cathodes, and gold-silver dore circuits. Production of copper pregnant leach solution and gold-silver cake was established in July, and ramp-up activities are progressing toward a target of achieving stable commercial production in September 2026.

“We are very excited that our new Bolivian Copper Cathodes Circuit, and our revamped Gold-Silver Dore Circuit, have entered the commercial production ramp-up phase, after overcoming logistical hurdles in Bolivia during May and June. Our Bolivian team is focused on executing a safe and disciplined ramp-up, with the goal of achieving stable commercial production in September 2026.”

— Juan Gavidia, Chief Executive Officer

Operations in Bolivia were previously impacted by 53 days of significant civil unrest, including nationwide strikes and road blockades during May and June, which delayed the execution of the Oxides Stockpile Project by 60 to over 90 days. As a result, revised fiscal 2026 guidance for the operation stands at 4,200 to 4,700 ounces of gold and 1.9 million to 2.1 million pounds of copper. Orovalle remains on track to meet its separate fiscal 2026 guidance of 34,000 to 37,000 ounces of gold and 2.7 million to 3.0 million pounds of copper.

In Argentina, the company acquired the Evelina property at the end of June, adding four claims totaling 4,015 hectares. This transaction expanded the Taguas project's exploration footprint by approximately 123%, increasing the total area from 3,274 to 7,289 hectares directly south of the main property along the same metallogenic belt.

“This positive momentum for Bolivia, together with the doubling of our exploration area at Taguas, Argentina, through the acquisition of Evelina, reflects the disciplined execution of the growth strategy Orvana has pursued in recent years.”

— Juan Gavidia, Chief Executive Officer

The company concluded its fiscal 2026 deep drilling campaign at Taguas in May, completing 2,173.7 metres across two holes to test porphyry systems. Petrographic studies on the first hole, which reached 1,331.7 metres, indicated a dacitic porphyry hydrothermal system with sericitic alteration. The second hole has been cased to allow drilling to resume during the next summer field campaign. Orvana will use datasets generated during the fiscal year, alongside historical data from Evelina, to define the scope and priorities of the fiscal 2027 exploration program.

Read the full announcement: ORVANA ANNOUNCES Q3 FY2026 RESULTS & AUGUST COMMERCIAL PRODUCTION RAMP-UP IN BOLIVIA