Orla Mining (TSX: OLA)
Provided an update on its near-pit exploration activities at Camino Rojo completed in the second half of 2023.
In 2023, Orla completed 6,500 metres of drilling near the Camino Rojo Oxide Mine in Mexico to define additional oxide mineralization near the open pit.
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Orla Mining heap leach pad, Solution pond, and Merrill-Crowe plant
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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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Targeting Additional Near Mine Oxide Ounces
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Vancouver, BC – January 18, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an update on its near-pit exploration activities at Camino Rojo completed in the second half of 2023.
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2023 Exploration Highlights: Camino Rojo Oxides (Mexico)
In 2023, Orla completed 6,500 metres of drilling near the Camino Rojo Oxide Mine in Mexico to define additional oxide mineralization near the open pit.
This near-pit exploration included 2,500 metres of drilling to confirm oxide gold mineralization on the Fresnillo plc property (the “Layback Area”), located immediately north of and adjacent to the Camino Rojo Oxide Mine open pit, and 4,000 metres of drilling targeting the extension of oxide gold mineralization hosted by key structures controlling deeper levels of oxide mineralization within and beyond the currently designed oxide open pit .
An updated resource is planned for the first half of 2024, incorporating, for the first-time, mineral resources in the Layback Area.
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Sylvain Guerard, Orla’s Senior VP, Exploration, Orla MIning stated,
“Our 2023 near-mine exploration validated near-surface oxide gold in the Layback Area and uncovered oxide expansion potential near the edge of the Camino Rojo Oxide Mine.
“The positive results from our near-mine oxide drilling program highlight the opportunity to replace a portion of the depleted ounces at the mine by incorporating incremental near-mine oxide material.
“These positive results pave the way for the 2024 near-mine drill program.”
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The Layback Area drilling confirmed and delineated gold mineralization immediately north of and adjacent to the Camino Rojo Oxide Mine open pit (Figure 2). Results from the Layback Area drill program confirmed historical drill results and the continuity of oxide hosted gold mineralization across the property boundary.
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Highlights of the Layback Area drill program:
| Camino Rojo Layback | |
|---|---|
| Hole CRLB23-03 : | 0.85 g/t Au over 76.0 m incl. 1.28 g/t Au over 28.0 m and 1.27 g/t Au over 10.5 m |
| Hole CRLB23-08 : | 0.48 g/t Au over 67.0 m incl. 1.00 g/t Au over 5.8 m |
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To read the full news release, please click HERE
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Disclosure
At the time of writing the author holds shares in Orla Mining.
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