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Orla Mining Ltd.
Summary
| Project: | Cerro Quema | |
|---|---|---|
| Deposit: | Cerro Quema | |
| Location: | Panama | |
| Commodities: | Gold | |
| Date: | 4/26/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-4-2017: Orla Mining Ltd. announces an Exploration/Drilling Update report for its Cerro Quema deposit at the Cerro Quema project. Drilling results incl. 42.3m @ 3.50g/t Au from 0m. Orla Mining Ltd. (TSX VENTURE: OLA) ("Orla" or the "Company") is pleased | |
| Resources: | (Reserve, P+P): 19.71Mt @ 0.77g/t Au for 488000oz Au contained | |
| CP/QP: | [Overall Report]: Hans Smit (Internal) | |
| ABSTRACT: | Orla Mining Ltd. (TSX VENTURE: OLA) ("Orla" or the "Company") is pleased to report results from the first 12 diamond drill holes completed in 2017 on its wholly owned Cerro Quema Project in Los Santos Province, Panama. The intersections are in oxide material and start at surface. Marc Prefontaine, CEO of Orla, commented, "It is very encouraging that our exploration team has been successful in confirming potential so early in their exploration efforts. We are developing a good understanding of the geological controls to mineralization. Three concepts that could provide near-term additions to the project economics were tested: Possible new zones of oxide proximal to the pits outlined in the 2014 PFS; extensions to the PFS pits; and opportunities for higher grades within the PFS pits. The first 12 holes have provided positive support for all three. With continued drilling, in conjunction with geology and new geophysical surveys, we look forward to building the gold resources on the project. Continued success in the areas currently being drilled would add material which could be incorporated into the current Pre-Feasibility development plan and potentially add significant value to the project. Mapping, sampling and geophysics is also progressing well in an effort to advance new targets over the large land package to the drill stage". Three man-portable diamond drill rigs continue working on the project. A budget for up to 25,000 metres of drilling in 2017 has been approved by the Orla board of directors. | |
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