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Orla Mining Ltd.
Summary
| Project: | Cerro Quema | |
|---|---|---|
| Deposit: | Caballito | |
| Location: | Panama | |
| Commodities: | Gold-Copper | |
| Date: | 6/19/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 19-6-2018: Orla Mining Ltd. announces an Exploration/Drilling Update report for its Caballito deposit at the Cerro Quema project. Drilling results incl. 147.7m @ 0.28g/t Au, 1.25% Cu from 42.5m. Vancouver, British Columbia--(Newsfile Corp. - June 19, 2018 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Hans Smit (Internal) | |
| ABSTRACT: | Vancouver, British Columbia--(Newsfile Corp. - June 19, 2018) - Orla Mining Ltd. (TSXV: OLA) ("Orla" or the "Company") is pleased to report that drilling in the Caballito copper-gold zone at its wholly owned Cerro Quema project in Panama continues to intersect near-surface mineralization with greater than 1% copper and associated gold values. Diamond drill hole CQDH18-163 intersected 147.7 metres at 1.25% copper and 0.28 g/t gold from 42.5 to 190.2 metres. This includes a 42.0 metre interval at 3.12% copper and 0.36 g/t gold within a structural zone that is thought to be steep dipping and north-south striking. The wider intercept is lithologically controlled by a shallow west dipping zone of breccia. In the same hole, a near-surface oxide intercept graded 0.45 g/t gold over 13.5 metres from 4.5 to 18.0 metres. Hole CQDH18-164 had several intercepts. The upper 33.0 metres averaged 0.81 g/t gold in oxide. A 69.5 metre intersection starting at 52.5 metre is comprised of 43.8 metres averaging 0.36 g/t gold in oxide and 25.7 metre at 1.96% copper and 0.52 g/t gold in sulphide. This was followed by 7.5 metres of low grade material and a further 14.5 metre at 0.72% copper and 0.35 g/t gold. This intercept is the furthest northwest intercept to date on the Caballito zone. The third hole reported, CQDH18-162, intersected 4.6 metres at 1.38% copper and 0.17 g/t gold from 170.2 to 174.8 metres. Based on the geophysical model, it is interpreted that the hole might have been drilled on the edge of the main area of mineralization. Assay results for holes drilled in the central and north-eastern part of the Caballito zone are pending. Additional holes are planned to test the full potential for higher grade copper-gold mineralization within the | |
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