en.Wedoany.com Reported - Orvana Minerals Corp. (TSX: ORV; OTCQX: ORVMF) has expanded its land position at the Taguas Project in San Juan Province, Argentina, by approximately 123% through the acquisition of the Evelina claims from a subsidiary of Pan American Silver Corp. for a total consideration of $1.2 million.
The Evelina asset comprises four mining claims totaling 4,015 hectares in the Iglesia Department, San Juan Province, Argentina, specifically Evelina I (Exp. No. 11240381-M-06), Gabriela 1 (Exp. No. 0001-M-96), Gabriela 2 (Exp. No. 0002-M-96), and Gabriela 3 (Exp. No. 0003-M-96). The addition of this asset increases the exploration area of the Taguas Project from 3,274 hectares to 7,289 hectares. The Evelina asset extends the Taguas Project along the same metallogenic belt, indicating potential continuity of a promising epithermal corridor supported by early geological evidence. This acquisition provides opportunities to expand exploration activities at Taguas while also increasing logistical optionality and flexibility for potential future infrastructure development.
Orvana CEO Juan Gavidia stated that as the company's understanding of the deep porphyry system at Taguas deepens, it is expanding its land position and strengthening its presence in the region. The acquisition of the Evelina asset consolidates a continuous land block adjacent to Taguas, enhancing geological optionality and flexibility for potential future development.
The Evelina claims represent a strategic expansion within the same Oligocene-Miocene metallogenic belt that hosts the Cerros Taguas deposit. The eastern portion of Evelina is interpreted as a potential southern extension of the Cerros Taguas mineralized corridor, with WorldView-3 satellite imagery outlining an epithermal system consistent with the presence of a hydrothermal system. The western portion of Evelina remains underexplored but exhibits alunite-rich argillic alteration, consistent with a high-sulfidation epithermal environment, with the scale and intensity of alteration suggesting a potentially concealed mineralized system.
Orvana has expanded the evaluation scope of the Taguas Project beyond the near-surface oxide gold-silver resources outlined in the 2021 Preliminary Economic Assessment to include underlying sulfide mineralization and potential porphyry copper-gold mineralization. The company has completed an updated geological model for the Taguas Project and conducted geophysical surveys aimed at identifying potential deeper targets up to 1,500 meters in depth. The 2026 fiscal year plan includes two drill holes totaling 2,173.7 meters of drilling depth, namely hole TADD-278 (1,331.7 meters) and hole TADD-279 (842 meters). Petrological studies completed on core samples from hole TADD-278 indicate that the mineralized host rock is dacite porphyry, exhibiting characteristics of a hydrothermal porphyry system, with ore mineralization primarily consisting of pyrite, enargite, and/or chalcopyrite. Results from hole TADD-279 are still pending.
Under the transaction, Orvana's wholly-owned subsidiary, Orvana Argentina S.A., acquired a 100% interest in the mining claims comprising the Evelina asset on an as-is, where-is basis for a total consideration of $1.2 million. The transaction was completed on June 26, 2026, subject to the completion of customary registration formalities.
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