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Orla Mining Ltd.
Summary
| Project: | Camino Rojo | |
|---|---|---|
| Deposit: | Camino Rojo | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Lead-Zinc | |
| Date: | 6/25/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Feasibility Study | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-6-2019: Orla Mining Ltd. announces a Feasibility Study report for its Camino Rojo deposit at the Camino Rojo project. Feasibility study results incl. post-tax NPV (5%) of $142M, IRR of 28.7%, 3 year payback. VANCOUVER, June 25, 2019 /CNW/ - Orla Mining | |
| Resources: | (Reserve, P+P): 44.019Mt @ 0.73g/t Au, 14.2g/t Ag at project | |
| CP/QP: | [Resources]: Michael G. Hester (Independent Mining Consultants Inc.) | |
| ABSTRACT: | VANCOUVER, June 25, 2019 /CNW/ - Orla Mining Ltd. (TSX: OLA) ("Orla" or the "Company") is pleased to provide the results of a positive Feasibility Study along with Orla's first mineral reserve estimate on its 100%-owned Camino Rojo Oxide Project located in Zacatecas, Mexico. The Feasibility Study supports a technically simple open-pit mine and heap-leach operation with low capital and operating costs providing rapid payback and a strong financial return. The Feasibility Study was conducted using $1,250/oz gold and $17/oz silver and is expressed in U.S. dollars unless otherwise noted. "The completion of the feasibility study for the Camino Rojo Oxide Project marks an important milestone for Orla and substantial progress toward construction of the Company's first mine", stated Jason Simpson, President and Chief Executive Officer of Orla. "The results demonstrate robust project economics with low development capital and a straight-forward path to approximately 100,000 ounces of expected annual gold production. We will be working towards submitting environmental assessment and permitting documents and securing project finance over the upcoming months with the expectation to deliver gold by mid-2021. With the continued support of local communities and stakeholders, we have a fantastic opportunity to develop a quality mine. We are also considering ways to unlock value from a much larger sulphide mineral resource and have initiated exploration on other priority targets on our extensive concession area", added Mr. Simpson. The new mineral reserve estimate at Camino Rojo includes proven and probable mineral reserves of 44.0 million tonnes at a gold grade of 0.73 grams per tonne ("g/t") and a silver grade of 14.2 g/t, for total mineral reserves of 1.03 million ounces of gold and 20.1 million ounces of silver. All mineral reserves are contained and accessible from within Orla's mineral concessions | |
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