Orla Mining (TSX: OLA; NYSE: ORLA)
Provided an update on its exploration activities at the South Railroad Project in the second half of 2023.
Drilling at South Railroad in 2023 totalled 14,695 metres and additional results from other exploration targets will be shared in a subsequent update.
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| Orla Mining | TSX : OLA |
| Stage | Development |
| Metals | Gold |
| Market cap | C$1.58 billion @ C$5.07 |
| Location | Zacatecas, Mexico + Nevada + Panama |
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Pinion: 112.7m at 0.72 g/t Au (oxide)
Dark Star: 36.6m at 3.53 g/t Au, including 19.8m at 5.23 g/t Au (oxide)
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Vancouver, BC – March 7, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an update on its exploration activities at the South Railroad Project in the second half of 2023.
This news release presents the first of two updates from the 2023 infill and extension drilling, totaling seven drillholes and representing 2,508 metres.
Drilling at South Railroad in 2023 totalled 14,695 metres and additional results from other exploration targets will be shared in a subsequent update.
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Highlights
- Potential expansion of resources at Pinion and Dark Star deposits through new oxide intersections in step-out drilling:
- Pinion: 0.72 g/t Au over 112.7 metres (oxide)
- Dark Star: 3.53 g/t Au over 36.6 metres (oxide)
- Successful infilling and metallurgical drilling with confirmation of modeled grade, continuity of mineralization, via infill drill program.
- Intersection includes 2.20 g/t Au over 163.1 metres (oxide) and 2.50 g/t Au over 88.1 metres (oxide).
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— Sylvain Guerard, Orla’s SVP Exploration
“Since acquiring the South Railroad project in August 2022, Orla has made substantial progress in near-deposit exploration, satellite deposit testing, and expanding our land position along the Carlin Trend.
“The recent positive drill results outside the projected open pits highlight the project’s low exploration maturity and significant growth potential.
“In 2024, we will focus on expanding resources at existing deposits and continuing exploration across the property, which could soon be expanded to include Pony Creek”.
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2023 Pinion and Dark Star Exploration Highlights
In 2023, Orla extended oxide-hosted gold mineralization at the Pinion and Dark Star deposits, with highly positive drill intersections outside of the projected open pits.
Meanwhile, infill drill results met expectations, confirming robust oxide mineralization within projected pits, while supplying material for new metallurgical column test work to further optimize the planned development project.
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Pinion SE Extension Drilling
At the Pinion deposit, a review of available geological data suggested gold mineralization may be continuous in the southeastern part of the deposit over the Pinion SE target area, where faulting had been previously interpreted as limiting or displacing extension of the mineralization.
To test the continuity of gold mineralization, three drill holes totaling 822 metres were completed. All three drillholes intercepted significant oxide-hosted gold mineralization, including 0.72 g/t Au over 112.7 metres (oxide) confirming the continuity of gold mineralization to the southeast without fault displacement interference.
These results, combined with historical drill intersections, indicate geological continuity and suggests gold mineralization extends to at least 350 metres outside of the projected open pit.
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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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