In a promising conclusion to 2023, Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA) shares exciting updates on its exploration activities at Camino Rojo Sulphides in Mexico. The company's relentless commitment to advancing exploration efforts has delivered compelling results, setting the stage for a dynamic year ahead.
Exploration Highlights - Camino Rojo Sulphides (Mexico) 2023:
Orla's 2023 Camino Rojo Sulphide drill program comprised an impressive 37,677 meters of drilling across 56 drill holes. The program aimed to refine the geometry and extent of higher-grade components within the Camino Rojo Sulphides deposit.
Sulphide Infill Program: This update includes the results of the remaining 14 drill holes, concluding the 52-drill hole, 35,070-meter infill program initiated in 2023. The program aimed at enhancing the understanding of the deposit's higher-grade zones for future development planning.
Camino Rojo Extension: Selected drill holes ventured into the area beneath the sulphide infill, exploring mineralization beyond the current open pit mineral resource boundaries, known as the "Camino Rojo Extension." Initial drill results beneath the Caracol formation revealed a new style of polymetallic massive sulphide replacement mineralization within limestone-rich formations.
Sylvain Guerard, Orla's Senior Vice President of Exploration, expressed enthusiasm, stating, "The discovery of a new mineralization style beneath the Caracol formation adds a compelling new dimension to our exploration efforts in 2024."
Momentum Building for 2024: With a total of 50,924 drill meters across three distinct campaigns, the Camino Rojo infill drill program has consistently delivered impressive results. This includes intercepts of over 2.0 grams of gold per tonne over significant lengths, setting the stage for an exciting year ahead.
The combined drilling, incorporating both Orla's north-to-south-oriented drill holes and historically oriented holes, has significantly improved the understanding of the primary controls on gold mineralization. This approach has also refined the geometry and size of higher-grade zones within the extensive mineralized envelope of the sulphide deposit.
Anticipated Milestones: A preliminary underground resource estimate for the Camino Rojo Sulphides is expected in the second half of 2024. Additionally, metallurgy evaluation on the recent phase of Camino Rojo sulphide infill drilling is set to continue throughout the year.
Strategic Exploration for the Future - Camino Rojo Extension Program: In 2024, Orla aims to extensively explore the Camino Rojo region, with a focus on the promising Camino Rojo Extension. A 30,000-meter drill program is designed to test and expand the potential of the still-open mineralization at the expansive Camino Rojo deposit.
Investment Disclaimer: This blog post is for informational purposes only and does not constitute investment advice, endorsement, or a solicitation. Any investment decisions should be based on individual research and consultation with a qualified financial professional. Orla Mining Ltd.'s exploration activities, while promising, involve inherent risks, and past performance does not guarantee future results. Investors are encouraged to exercise due diligence and consider their risk tolerance before making investment decisions.