Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA) is excited to share an update on its exploration endeavors, specifically focusing on the extension of the Camino Rojo deposit ("Camino Rojo Extension") during the latter part of 2023. Recent exploration outcomes underscore the continuous openness and significant upside potential of the Camino Rojo deposit.
Camino Rojo Extension (Mexico) Summary:
Historical and recent drilling targeted lower stratigraphy beneath existing resources. In 2023, a drill section was completed 450 meters down-plunge from the current mineral resources, revealing noteworthy intersections of high-grade polymetallic (Au-Ag-Zn) semi-massive to massive replacement-style mineralization. These results indicate that the Camino Rojo mineral system extends beyond the current resource envelope, presenting a substantial opportunity for resource expansion.
2023 Program: The 2023 Camino Rojo Extension drill program extended selected infill drillholes beyond the current mineral resources and completed a down-plunge drill section to explore the distal extension into lower stratigraphy, totaling 2,607 meters across four drill holes. Reported drill results have returned mineralized intercepts up to 450 meters down-plunge from the existing open pit mineral resource boundaries.
Initial Metallurgy: Initial carbon-in-leach (CIL) bottle roll testing within the Camino Rojo Extension showcased impressive gold recoveries between 81-96%. Flotation testing produced a gold concentrate with 85-88% gold recovery and a zinc concentrate with zinc grades of 52%, demonstrating the potential of polymetallic replacement-style mineralization.
2024 Program: Orla Mining plans a 30,000-meter drill program in 2024 with objectives to infill down-plunge geometry, assess continuity and endowment potential along the projection of the Dike Zone, and broadly explore the extensive upside potential of this open mineralized system.
Sylvain Guerard, Orla's Senior Vice President, Exploration, commented: "The recent drilling results have added a new dimension to our near-mine exploration program, unveiling an exciting new mineralization style in previously disregarded host rocks. With promising initial metallurgical results and substantial upside extension potential, we are committed to driving Orla's 2024 exploration efforts towards expansion drilling as we look to unlock the full potential of the growing Camino Rojo deposit."
New Polymetallic Sulphide Replacement Style Mineralization: Orla Mining has confirmed and encountered sulphide mineralization extending beyond the established open pit mineral resource boundaries at Camino Rojo. This drilling builds on an updated geological model and the success of previous holes, justifying the execution of a new drill section in 2023, targeting 450 meters down-plunge from existing resources along the dike zone structure.
Initial Metallurgical Testing (2023): Initial carbon-in-leach (CIL) bottle roll testing within the Camino Rojo Extension yielded impressive gold recoveries between 81-96%. Flotation testing produced a gold concentrate with 85-88% gold recovery and a zinc concentrate with zinc grades of 52%, demonstrating potential cyanide processing and flotation suitability.
Metallurgical Test Work (2024): Orla plans to further explore these promising results through additional metallurgical test work in 2024.
Investment Disclaimer: This information is for informational purposes only and does not constitute financial advice or an offer to buy or sell securities. Investors are urged to conduct their own research and seek professional advice before making investment decisions. Past performance is not indicative of future results.