Orla Mining Ltd. (TSX: OLA)
Announced that the Company has poured gold from its Camino Rojo Oxide mine located in Zacatecas State, Mexico.
Orla has achieved first gold pour at Camino Rojo, which is an important milestone in the rapid evolution of the Company, explorer to producer.
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| Orla Mining | TSX : OLA |
| Stage | Development |
| Metals | Gold |
| Market cap | C$1.26 Billion @ C$5.09 |
| Location | Zacatecas, Mexico + Panama |
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VANCOUVER, BC – December 14, 2021 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is excited to announce that the Company has poured gold from its Camino Rojo Oxide mine (“Camino Rojo”) located in Zacatecas State, Mexico.
The first pour occurred on schedule on December 13, 2021. Three bars were poured with a total weight of 1,278 ounces containing approximately 770 ounces of gold and 510 ounces of silver. The Company is planning additional pours during the remainder of 2021.
Orla Mining management comments
“Orla has achieved first gold pour at Camino Rojo, an important milestone in the rapid evolution of our Company.
“This accomplishment is the result of the hard work and diligence of the entire team, and we are incredibly proud.
“This team includes our employees, our consultants, and our contractors directed by Camino Rojo’s EPCM, M3 Engineering & Technology Corporation.
“In less than two years, we have permitted, financed, and constructed our first project, while maintaining the health and safety of our workforce.
Jason Simpson, President and Chief Executive Officer, Orla Mining
“I would like to thank Orla’s team led by Jason Simpson, Chief Executive Officer, Andrew Cormier, Chief Operating Officer, Etienne Morin, Chief Financial Officer, and Sergio Saenz, General Manager of Camino Rojo, for the outstanding work and dedication that has enabled this achievement in the face of unprecedented challenges brought by the COVID-19 pandemic.
“We all now look forward to the sustainable value this mine will bring to the local communities, and to the next steps in the growth and success of the Company.”
Chuck Jeannes, Chairman of the Board, Orla Mining
Next steps
Commissioning and operational ramp-up will continue during the month of December and during the first quarter of 2022. Mining and processing tonnes and grades have been meeting expectations thus far and commercial production is targeted for the end of the first quarter of 2022.
As the Company approaches commercial production, operational guidance for 2022 will be provided.
During the month of November, the Company mined a total of 466,215 ore tonnes at an average grade of 0.65 g/t Au and crushed and stacked a total of 374,976 tonnes on the heap leach pad.
Year to date November 30, 2021, the Company mined a total of 1,589,994 tonnes of ore at an average grade of 0.72 g/t Au and crushed and stacked a total of 750,564 tonnes.
Several images highlighting the first gold pour at the Camino Rojo Project are shown below:
CAMINO ROJO MINE FIRST POUR PHOTOS
Figure 1: Camino Rojo First Pour
Figure 2: Camino Rojo Dore Bar 001
For brevity, this summary has been redacted, to read the full news release, please click HERE
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Disclosure
At the time of publishing the author holds shares in Orla Mining, bought in the market at the prevailing price on the day of purchase .
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