Orla Mining (TSX: OLA)
Confirmed that Camino Rojo construction was 89% complete as of September 30, 2021, on schedule for first pour in December 2021, and commercial production in the first quarter of 2022. […]
|Orla Mining||TSX : OLA|
|Market cap||C$1.11 Billion @ C$4.50|
|Location||Zacatecas, Mexico + Panama|
Construction 89% Complete
VANCOUVER, BC – October 12, 2021 –Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide a construction update for the Camino Rojo Oxide Project.
(All amounts are in U.S. dollars unless otherwise stated)
CAMINO ROJO OXIDE CONSTRUCTION UPDATE
- Camino Rojo construction was 89% complete as of September 30, 2021, on schedule for first pour in December 2021 and commercial production in the first quarter of 2022.
- Construction remains on schedule with the main activities completed during the quarter including:
- Ramp up of mining activities in line with plan,
- Mechanical completion of the crushing and conveying system, reclaim tunnel, overland conveyor, and grasshopper conveyors,
- Commencement of wet commissioning with introduction of ore into the crushing circuit,
- 98% completion of the Merrill-Crowe plant and refinery,
- Completion of the camp facilities.
Mining and Processing Totals – Year to Date (September 30, 2021)
|Ore Mined Au Grade||g/t||0.86|
|Total Crushed Ore Stockpile||tonnes||511,260|
|Total Crushed Ore Stockpile Au Grade||g/t||0.86|
|Stacked Ore Au Grade||g/t||0.87|
- Construction activities planned for the fourth quarter will primarily focus on completion of dry commissioning followed by wet commissioning and leaching to achieve the first gold pour in December 2021. This includes commissioning of the crushing, conveying, and stacking equipment, application of cyanide on the heap leach pad, and commissioning of the Merrill-Crowe plant and refinery. (Dry commissioning includes pre-operational testing of the processing circuit without ore while wet commissioning includes the introduction of ore material).
- Camino Rojo capital expenditures totalled $24.3 million in the third quarter and total $106.3 million for the Project to date (September 30, 2021), out of a total project capital expenditure estimate of $134.1 million.
- Project capital committed totalled $120.2 million at the end of the third quarter with expenditures and commitments to date in line with estimates.
- Cash balance of $50.7 million at September 30, 2021.
- Project to date safety and environmental performance have been excellent and strict COVID-19 measures implemented at Camino Rojo have allowed construction progress to continue uninterrupted.
- To date, of all employees and contractors at Camino Rojo, 98% have received at least one dose of COVID-19 vaccine and 75% have received two doses of COVID-19 vaccine.
Orla Mining management comments
“The march towards first gold pour continues at Camino Rojo and the team is focused on achieving this important milestone by year end”
“While the rate of construction advance has been impressive, I am most encouraged by the diligence exhibited by our team in maintaining a safe and healthy operation during this intensive and challenging period”.
Jason Simpson, President and Chief Executive Officer of Orla Mining.
Several images highlighting construction progress at the Camino Rojo Project are shown below and additional photographs are available at Camino Rojo Progress Photos.
CAMINO ROJO OXIDE PROJECT PHOTO
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