Orla Mining (TSX: OLA; NYSE: ORLA)
Provided an update on its exploration activities at the Camino Rojo Sulphides in the second half of 2023.
Results included 3.41 g/t Au over 36m, incl. 29.2 g/t Au over 3.0 m, and 2.94 g/t Au over 66.5 m, incl. 4.98 g/t Au over 16.5 m.
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| Orla Mining | TSX : OLA |
| Stage | Development |
| Metals | Gold |
| Market cap | C$1.28 billion @ C$4.07 |
| Location | Zacatecas, Mexico + Nevada + Panama |
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3.41 g/t Au over 36m, incl. 29.2 g/t Au over 3.0 m,
2.94 g/t Au over 66.5 m, incl. 4.98 g/t Au over 16.5 m,
2.44 g/t Au over 49.5 m, incl. 4.59 g/t Au over 21.0 m, and
2.22 g/t Au over 96.5 m, incl. 3.24 g/t Au over 33.9 m
Vancouver, BC – January 25, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an update on its exploration activities at the Camino Rojo Sulphides in the second half of 2023.
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2023 Exploration Highlights: Camino Rojo Sulphides (Mexico)
In 2023, Orla undertook a 37,677-metre drill program, strategically focusing on infilling higher-grade parts of the Camino Rojo Sulphides deposit to support a potential underground Mineral Resource estimate.
The primary objective was to enhance the understanding of geological controls of the deposit while extending selected drill holes to explore for sulphide mineralization beyond the current open pit Mineral Resource boundaries, referred to as the “Camino Rojo Extension.”
Orla previously presented results from 15 of 56 drill holes in the 2023 Sulphide drill program (June 22, 2023) and this news release presents results from an additional 23 drill holes. Results from the remaining 18 drill holes will be shared in the coming weeks.
Overall, infill drilling of the Camino Rojo Sulphides has consistently yielded long intercepts (>30 metres down holes) of greater than 2.0 grams of gold per tonne (g/t Au). These significant drill results align with previous work, reinforcing the potential for an underground mining scenario.
Recent drilling has returned notable high-grade intercepts exceeding 10 g/t Au over core lengths ranging from 0.7 metres to 3.0 metres. These high-grade intersections are part of wider intervals of greater than 2.0 g/t Au over tens of metres. The presence of high-grade gold results highlights the opportunity to enhance value through the potential implementation of more selective and targeted underground mining techniques.
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Sylvain Guerard, Orla’s Senior Vice President, Exploration stated,
“New drill results at Camino Rojo are revealing more about controls on mineralization and hinting at potential for significant expansion below the current Mineral Resource in the Camino Rojo Extension.
“This data is crucial for our upcoming underground resource estimation, enhancing our understanding of this important part of our growth pipeline.”
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Drill result highlights include:
| Camino Rojo Sulphides | |
| Hole CRSX23-17
incl. |
2.54 g/t Au over 68.5m
13.1 g/t Au over 1.5m |
| Hole CRSX23-19C:
incl. and incl.
|
2.08 g/t Au over 124.5 m
2.46 g/t Au over 60.0m, and incl. 11.7 g/t Au over 1.5m |
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds shares in Orla Mining.
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