Orla Mining (TSX: OLA / NYSE: ORLA)

Announced that, further to its April 10, 2024, news release, the Company has filed a Request for Arbitration against the Government of Panama under the Canada-Panama Free Trade Agreement.

 

 

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Orla Mining	TSX : OLA
Stage	Development
Metals	Gold
Market cap	C$1.84 billion   @ C$5.95
Location	Zacatecas, Mexico + Nevada + Panama
Website	www.orlamining.com

 

 

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Vancouver, BC – July 3, 2024 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) announces that, further to its April 10, 2024, news release, the Company has filed a Request for Arbitration against the Government of Panama under the Canada-Panama Free Trade Agreement (the “FTA”). 

The Request for Arbitration asserts that measures taken by Panama in respect of the Cerro Quema Project constitute violations of Panama’s legal obligations under the FTA and customary international law.

A Notice of Intent to Arbitrate was filed with the Government of Panama under the FTA on March 28, 2024, which was intended to facilitate a 30-day consultation period to reach an amicable resolution to the Company’s claim. As no resolution was reached, the Company has proceeded with filing the Request to Arbitrate.

The arbitration will be facilitated and administered by the International Centre for Settlement of Investment Disputes (ICSID) in Washington, DC, under its Arbitration Rules. As part of the FTA requirements, the Company has submitted an initial and preliminary estimate of damages claimed of no less than US$400 million, plus pre-award and post-award interest.

Although the Company intends to vigorously pursue these legal remedies, the Company’s preference is a constructive resolution with the Government of Panama that results in a positive outcome for all stakeholders.

The Cerro Quema Project is located on the Azuero Peninsula in the Los Santos Province of Southwestern Panama, about 45 km southwest of the city of Chitre. The project includes a pre-feasibility-stage, open-pit, heap leach gold project, a copper-gold sulphide resource, and various exploration targets.

The Company believes that the Cerro Quema Project could be an important social and economic contributor to Panama, creating employment and skills development opportunities and contributing tax, royalty, and other fiscal benefits to the host communities and governments. The Company also maintains a strong commitment to operating in an environmentally responsible manner.

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To View Orla Mining’s historical news, please click here

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.To read the full news release, please click HERE

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We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Orla Mining.

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Orla Mining (TSX: OLA)

The website Mining.com has reported that an activist goup in Panama are to protest against the approval by the Panamanian Ministry of the Environement  for the Environmetal Impact Assessment for the Cerro Quema copper gold project in that country. 

 

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Orla Mining	TSX : OLA
Stage	Development
Metals	Gold
Market cap	C$1.85 billion   @ C$6.24
Location	Zacatecas, Mexico + Nevada + Panama

 

Comment

What a shame that Panama is becoming another country turning bad for mining and resource companies. 

I expect the Orla shareprice to fall today as a result of this news, but Panama is most definitely their least important project of the three they own, so any real weakness may well become a buying opportunity, in my opinion.

Railroad in Nevada is the next focus now that Camino Rojo is up and running, so whilst clearly they want to mine in Panama, it’s the least important project currently, which may limit the downside in the short term, whilst this is hopefully resolved.

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Orla Mining’s Cerro Quema Project Targeted by Panamanian Activists

 

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Orla Mining (TSX: OLA) The website Mining.com has reported that an activist goup in Panama are to protest against the approval by the Panamanian Ministry of the Environement  for the Environmetal Impact Assessment for the Cerro Quema copper gold project in that country.

The Newsroom Panama website adds “The Front Against Mining Santeño (Fresacomi) representing farming smallholders, has approved protest actions against the Cerro Quema mining company as heavy earth moving equipment has moved into place.

The environmental director of Cerro Burn, Basilio Perez clarified that what they are doing  with the earth moving equipment is to improve the roads for drilling in the Quema.”

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To read the Newsroom Panama article in full, please click HERE

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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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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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.

Disclosure

At the time of writing the author holds shares in Orla Mining

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To read our full terms and conditions, please click HERE

Orla Mining (TSX: OLA)

Provided an update on its 2022 exploration activities on its Cerro Quema Project and an overview of exploration plans for 2023.

The highlight was at the Caballito Deposit, hole CQDH-22-223 gave 0.98% Cu, 0.20 g/t Au over 105.2 m (Sulphide) from 90.4 m.

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Orla Mining	TSX : OLA
Stage	Development
Metals	Gold
Market cap	C$1.62 billion   @ C$5.64
Location	Zacatecas, Mexico + Nevada + Panama

 

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Selective Follow-up Drilling Planned at Promising Regional Targets

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Vancouver, BC – February 16, 2022 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to provide an update on its 2022 exploration activities on its Cerro Quema Project and an overview of exploration plans for 2023.

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2022 Exploration Highlights: Cerro Quema (Panama)

• Caballito Deposit: Drilling increased confidence and refined geometry, controls, and definition of the mineralization. Notable results:
  • CQDH-22-223: 0.98% Cu, 0.20 g/t Au over 105.2 m (Sulphide) from 90.4 m
  • CQDH-22-192: 1.54% Cu, 0.52 g/t Au over 47.8 m (Sulphide) from 100.5 m
  • CQDH-22-197: 2.62% Cu, 0.39 g/t Au over 19.5 m (Sulphide) from 187.7 m
  • CQDH-22-195: 1.91% Cu, 0.13 g/t Au over 21.2 m (Sulphide) from 94.7 m
• La Pava Sulphide Mineralization: Recent drill program combined with historical drilling defined zones of significant Cu-Au sulphide mineralization beneath the oxide gold deposits. Notable results:
  • CQDH-22-204: 0.69% Cu, 0.32 g/t Au over 15.0 m (Sulphide) from 69.0 m and
    1.41% Cu, 0.46 g/t Au over 4.5 m (Sulphide) from 97.1 m
  • CQDH-22-209: 0.45% Cu, 0.16 g/t Au over 39.6 m (Sulphide) from 117.2 m and 0.78% Cu, 0.17 g/t Au over 6.8 m (Sulphide) from 167.7 m
• Quemita Norte Target: Potential satellite sulphide mineralization highlighted by positive 2022 Cu-Au drill intersections over a 180-metre by 210-metre area. Mineralization remains open along strike. Notable results:
  • CQDH-22-208: 0.54% Cu, 0.14 g/t Au over 58.1 m (Sulphide) from 30.0 m
• La Pelona Target: Significant near-surface oxide drill intersections to be followed up with drilling in 2023 to define potential extent and size of the mineralization.
• La Prieta Target: Intrusion related Cu-Au mineralization intersected in first drill program highlights potential of the target and justifies follow-up drilling in 2023.

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Sylvain Guerard, Senior Vice President Exploration of Orla said.

“The 2022 exploration program reinforced the potential for the definition and discovery of more oxide and sulphide resources on the property.

 

“In 2023, our focus will be follow-up drilling at La Pelona and La Prieta targets where we believe there is significant exploration upside yet to be defined.”

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Figure 1: Cerro Quema Project with 2022 Results and 2023 Plans

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2022 Exploration: Cerro Quema (Panama)

Cerro Quema consists of a pre-feasibility stage heap leach gold project, a copper-gold sulphide resource, and a suite of exploration targets on a prospective land package. The project is located on a 15,000-hectare concession on the Azuero Peninsula in the Los Santos Province of Southwestern Panama.

In 2022, exploration drilling at Cerro Quema began with regional exploration at the La Prieta and La Pelona targets before moving to metallurgical, infill, and expansion drilling at Caballito and La Pava mineralized zones and early-stage follow-up drilling at Quemita Norte target. In total, 9,044 metres were drilled in Panama during the year.

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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To read our full terms and conditions, please click HERE

 Orla Mining Ltd. (TSX: OLA)

Announced the independent mineral resource estimate for the Caballito copper-gold deposit at the Company’s 100%-owned Cerro Quema project located in the Azuero Peninsula, Los Santos Province, Panama.

 

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Orla Mining	TSX : OLA
Stage	Exploration, Development
Metals	Gold
Market cap	C$1.41 Billion   @ C$5.81
Location	Zacatecas, Mexico + Panama

 

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VANCOUVER, BC – December 6, 2021 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce the independent mineral resource estimate for the Caballito copper-gold deposit at the Company’s 100%-owned Cerro Quema project (“Cerro Quema”) located in the Azuero Peninsula, Los Santos Province, Panama.

Caballito is a large, copper-gold deposit that represents an opportunity for the Company to potentially transform the scale and scope of Cerro Quema beyond the separate oxide project outlined in the July 2021 pre-feasibility study.

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The mineral resource estimate for the Caballito copper-gold deposit consists of the following:

• 31,952,000 tonnes of sulphide indicated mineral resources at an average CuEq grade of 0.96% (0.83% Cu, 0.31 g/t Au & 2.2 g/t Ag) for 676 Mlbs of CuEq (585 Mlbs Cu, 315 Koz Au and 2,260 Koz Ag).
• 22,569,000 tonnes of sulphide inferred mineral resources at an average CuEq grade of 0.85% (0.77% Cu, 0.21 g/t Au & 1.2 g/t Ag) for 425 Mlbs of CuEq (381 Mlbs Cu, 155 Koz Au and 856 Koz Ag).

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The Caballito deposit, at its nearest point, is approximately 1 kilometre south-east of the Quemita oxide deposit outlined in the July 2021 Pre-Feasibility Study, see HERE

The Caballito deposit locally outcrops at surface and the copper-gold mineralization has been intersected over an estimated strike length of approximately 800 metres, a vertical extent of approximately 400 metres, and a variable thickness ranging from 50 to 150 metres.

The mineral resource estimate, prepared by Moose Mountain Technical Service, includes a total of 62 holes (13,894 metres) of diamond drilling. The deposit remains open along strike and at depth.

The Company is targeting a 2022 drill program aimed at extending known mineralization as well as drilling newly defined targets. Along with the forthcoming exploration drill program, the Company will commence metallurgical studies and additional infill drilling and technical work to increase its understanding of the Caballito deposit.

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Selected drill results within the resource include the following:

• Hole CQDH-18-181 (Idaida): 1.87% Cu, 0.30 g/t Au over 27.4m (22.0m est. true width)
• Hole CQDH-18-179 (Idaida): 3.73% Cu, 0.89 g/t Au over 17.6m (16.5m est. true width)
• Hole CQDH-18-160 (Caballito): 1.72% Cu, 0.39 g/t Au over 83.5m (83.3m est. true width)
• Hole CQDH-18-163 (Caballito): 1.78% Cu, 0.33 g/t Au over 89.7m (89.6m est. true width)
• Hole CQDH-18-157 (Caballito) : 1.63% Cu, 0.51 g/t Au over 102.0m (102.0m est. true width)

Full drill results are available in the Appendix of the press release and available on Orla’s website at: Caballito Drill Results.

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Orla Mining management comments

“We are incredibly proud of our team and our partners in Panama, Caballito is a grassroots discovery that has the potential to transform our future in the country.

 

“We first discovered this high-grade copper-gold mineralization in 2017 and have continued to systematically explore the region, having now drilled over 40 more holes in Caballito.

 

“Along this underexplored, highly prospective mineralized trend, we see potential for additional exploration success. We aim to continually work with the Panamanian Government and evaluate the opportunity for a long-life project that can benefit all stakeholders.

Jason Simpson, President and Chief Executive Officer, Orla Mining

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“The initial resource at Caballito highlights Orla’s success in Panama, as well as the ongoing evolution of the Cerro Quema project.

 

“We believe there is significant potential for new discoveries within this highly prospective, district-scale, high-sulphidation epithermal system. We will continue to focus on expanding known resources at Caballito and Idaida with infill and step-out drilling.

 

“Our regional work has highlighted coincident geophysical and geochemical anomalies in a similar geological context in targets such as La Pelona and Quemita and defined a highly prospective porphyry target at La Prieta, which we intend to drill test in 2022.

 

“We have also identified copper-gold mineralization below both of the La Pava and Quemita gold-oxide pits, requiring additional follow-up work. We are excited with our progress to date and look forward to advancing the new copper-gold resources, as well as testing new regional early-stage targets.”

Sylvain Guerard, Senior Vice President, Exploration, Orla Mining

 

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

 

.

Disclosure

At the time of writing the poster holds shares in Orla Mining, bought in the market at the price prevailing on the days of purchase.