UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 6-K
Report of Foreign
Private Issuer
Pursuant to Rule
13a-16 or
15d-16
UNDER the Securities
Exchange Act of 1934
For the month of September 2022
Commission File Number: 001-39766
ORLA MINING LTD.
(Translation of registrant's name into English)
Suite 202, 595 Howe Street
Vancouver, British Columbia,
V6C 2T5, Canada
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file
annual reports under cover Form 20-F or Form 40-F.
Form
20-F ☐ Form 40-F ☒
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7):
☐
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
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ORLA MINING LTD.. |
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| Date: September 12, 2022 |
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/s/ Etienne
Morin |
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Name: Etienne Morin
Title: Chief Financial Officer
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EXHIBIT INDEX
Exhibit
99.1
Orla Mining Advances Exploration & Growth Pipeline
Continued Definition of Higher-Grade Zones at Camino Rojo
Sulphides
VANCOUVER, BC, Sept. 12, 2022 /CNW/ - Orla Mining Ltd. (TSX:
OLA) (NYSE: ORLA) ("Orla" or the "Company") is pleased to provide
an update on the Company's 2022 exploration program including
drilling completed in the second quarter of 2022.
"Now in production, we are pleased to have finally begun
exploration across our large prospective portfolio covering three
countries and 200,000 hectares. Since April, we have been making
great strides in advancing our key exploration growth
opportunities. Most notably, Phase 2 drilling at the Camino Rojo
Sulphides continues to intersect wide, higher-grade mineralization.
As a result of the success and prospectivity encountered across the
portfolio, we have increased our planned exploration spending in
2022. Exploration is a tenet of our value creation strategy."
- Jason Simpson,
President and Chief Executive Officer of Orla
HIGHLIGHTS:
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Camino
Rojo Sulphides (Mexico): Phase 2 drilling continues to return
wide, higher-grade intercepts, supporting Orla's geological model
and mineral resource estimate. The recent, south-oriented drilling
is providing greater understanding of the geological controls,
continuity, and distribution of gold grades versus historical
drilling. This new information is proving to be critical in
determining the preferred mining option and mine design, which will
support the most economic resource extraction method. Intercept
highlights include: |
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Hole
CRSX22-06 : 2.56 g/t Au over 41.5m, incl. 4.00 g/t Au over
19.5m |
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Hole
CRSX22-08A : 3.08 g/t Au over 52.5m, incl. 4.37 g/t Au over
28.5m |
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Cerro
Quema - La Pelona Oxides (Panama): The two diamond drill holes
completed at this target returned significant widths of oxide-gold
mineralization, including 0.27 g/t gold over 113.7m, and 0.46 g/t
gold over 104.8m, indicating potential for additional oxide-gold
mineralization to expand upon the plan outlined in the Cerro Quema
Pre-Feasibility Study (as defined below) (Figure 6). |
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Cerro
Quema - La Prieta Sulphides (Panama): The first three drill
holes testing the large intrusion-related gold-copper target
returned intercepts of significant gold and anomalous copper
mineralization, including 27.3 g/t gold and 0.91% Cu over 0.75m and
1.01 g/t gold over 13.5m, associated with pyrite, chalcopyrite and
bornite hosted in hydrothermal breccias and veins. The results are
encouraging and indicate potential for gold-copper
intrusion-related mineralization. |
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South
Railroad - Sulphides/Oxides (Nevada): Orla continues the 2022
sulphide exploration program started by Gold Standard Ventures
Corp. ("GSV") and is increasing exploration spending by $1.5
million to accelerate the upgrade and definition of new oxide
resources. |
CAMINO ROJO (MEXICO) EXPLORATION:
The Company's 2022 exploration program in Mexico is multi-faceted
with focus on the advancement of the Camino Rojo Sulphides project,
which represents Orla's greatest opportunity for value creation
outside of a new discovery. In 2021, Orla drilled its first
campaign into the Sulphides in the opposite orientation of most
historical drillholes. The results from that Phase 1 program
demonstrated wide zones of higher-grade mineralization which
confirmed that the new drill orientation could identify key
mineralized zones within the broader sulphide mineral resource
while reinforcing the geological model. This led to a second phase
of the oriented diamond drilling program, currently in progress,
which continues to target higher-grade sulphide mineralization.
This new geological information implies the possibility of
continuous, higher-grade domains, which could be amenable to
underground mining. Historical drilling, conducted by the previous
project owners, indicated the grade of the ore body to be widely
disseminated and a large, open-pit mining scenario was the favoured
development pathway. However, the newly oriented drilling has
demonstrated the potential for a more targeted mining method which
may focus on priority extraction of the higher-grade material.
Phases 1 and 2 of the oriented diamond drill program have been
successfully targeting the higher-grade mineralization in the
Sulphides and as such, additional drilling at reduced spacing will
be required to increase confidence in new mineral resource
estimations. While the 350,000 metres of historical drilling
demonstrated the scale and strength of the ore body, the additional
drilling is expected to support a new development scenario. Based
on the recent results, the Company is establishing a multi-year
drill plan to advance the Sulphides towards a development
decision.
In addition to advancing the development of the Sulphides, first
steps were taken away from the known Camino Rojo deposit into the
surrounding, largely unexplored, land package. Reverse
circulation ("RC") drilling of regional exploration targets began
in the second quarter. Both programs will continue through the
second half of 2022 with regional RC drilling testing high priority
exploration targets along the identified northeast mine trend
pending receipt of necessary drill permits.
Camino Rojo Sulphide Drill Program:
Program: Camino Rojo Sulphides continue to demonstrate
potential for higher-grade zones and a targeted mining
method. A Phase 2, 15-hole (8,775 metre) oriented diamond
drill program at the Camino Rojo Sulphides began in April 2022 with
five holes completed to date. The current program is designed to
infill between the Phase 1 north-to-south drill holes, reducing the
spacing between the south-azimuth drill holes to 150-200 metres.
The Phase 2 drill program is targeting structurally controlled
higher-grade gold mineralization within the sulphide portion of the
deposit to determine the potential economic strength of a sulphide
underground mining scenario at Camino Rojo.
Results and Next Steps: This current Phase 2 drilling
continues to return wide, higher-grade intercepts of gold
mineralization associated with identifiable structures in the
deposit. The improved understanding of grade distribution and
continuity is critical to the progress of the Camino Rojo Sulphide
project and will be reflected in an updated resource model.
Selected significant results from five holes with assays received
out of the 15 holes planned in 2022 include:
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Hole
CRSX22-05: 1.95 g/t Au over 61.2m, incl. 2.05 g/t Au over
19.5m |
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Hole
CRSX22-06: 2.56 g/t Au over 41.5m, incl. 4.00 g/t Au over
19.5m |
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Hole
CRSX22-07A: 3.20 g/t Au over 36.6m |
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Hole
CRSX22-07B: 2.13 g/t Au over 27.0m, incl. 4.43 g/t Au over
9.5m |
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Hole
CRSX22-08A: 3.08 g/t Au over 52.5m, incl. 4.37 g/t Au over
28.5m |
The implications of these drill results are as follows:
(1) The recent drilling continues to
support and improve Orla's understanding of the sulphide deposit,
including geological controls, distribution and continuity of
higher-grade (>2 g/t) gold mineralization.
(2) The mineability of the updated
resource is expected to improve, owing to demonstrable continuity
and control on the distribution of auriferous vein domains.
(3) New geological domains controlling
mineralization have been defined (e.g., northwest dipping
auriferous domains). Detail of the results are illustrated in
Figures 1-3 and presented in Table 1.
Phase 2 directional drilling at the Camino Rojo Sulphides is
expected to be completed in the fourth quarter of 2022 with final
results expected in early 2023. The additional drill data will
support the Company's multi-year plan which is expected to be
outlined in the fourth quarter.
Figure 1: Camino Rojo Sulphides Long Section (CNW Group/Orla Mining
Ltd.)
Figure 2: Camino Rojo Sulphides Cross Section (CRSX22-05) (CNW
Group/Orla Mining Ltd.)
Figure 3: Camino Rojo Sulphides Cross Section (CRSX22-07) (CNW
Group/Orla Mining Ltd.)
Camino Rojo Regional Program:
Program: RC drilling of high priority, near-mine target
areas including along the Camino Rojo mine trend is underway, with
40% of the program completed. Discovery of new deposits is the
objective, and this could include oxide deposits that support mine
life extension or additional sulphide deposits that expand the
already impressive sulphide endowment.
Results: Drilling in the second quarter has focused on
the Centro and Represa Sur targets, in addition to the SF, SFSW,
CRSW, and Las Catas targets (Figure 4). Anomalous gold results (up
to 0.31 g/t Au over 1.5m or 0.11 g/t Au over 6.0m) with associated
pathfinder elements such as antimony (up to 2720 ppm over 1.5m)
generated along the Camino Rojo Mine Trend at Centro. Multiple
regional targets will be tested in the second half of 2022 and
beyond, pending receipt of necessary drill permits.
Next Steps: In the second half of 2022, soil sampling,
drone mag, and IP will be conducted over the northeast mine trend
area to refine exploration targets in the El Bocho, Guanamero, and
Monterilla areas. Drill testing priority exploration targets in
these areas, including those with significant and anomalous gold
results in the 2021 regional rotary air blast ("RAB") drill holes
at the Guanamero target area (including 1.94 g/t Au over 3 m in
hole RABCR21-106b and 0.13 g/t Au over 17 m in RABCR21-105B (see
March 14, 2022, Press Release - Orla Mining
Commences Near Mine and Regional Exploration at Camino Rojo and
Cerro Quema for further details), is expected to be
completed during the remainder of the year.
Figure 4: Camino Rojo - 2022 Target Areas (CNW Group/Orla Mining
Ltd.)
For additional information on previous drill results on
Guanamero, please refer to the Company's press release dated March
14, 2022 - Orla Mining Commences Near Mine and Regional Exploration
at Camino Rojo and Cerro Quema. All other previous drill results
presented in Figure 4 are historical in nature and are not treated
by the Company as current. Such results were completed by Goldcorp
Inc., a prior owner of the Camino Rojo Project.
CERRO QUEMA (PANAMA) EXPLORATION:
In the second quarter, drilling at Cerro Quema focused on the La
Prieta and La Pelona targets. Both target areas returned
significant Au and anomalous Cu results and follow-up drilling in
both areas is expected for early 2023. Diamond drilling at Cerro
Quema will continue through the second half of the year, with drill
rigs moving to metallurgical, infill, and expansion drilling at
Caballito and Quemita.
Figure 5: Cerro Quema - 2022 Target Areas (CNW Group/Orla Mining
Ltd.)
La Pelona:
Program: Two diamond drill core holes, totalling 540
metres, have been completed at La Pelona. These two drill holes
followed up on historical diamond drill holes that returned lower
grade oxide gold intersections of 0.15 to 0.41 g/t over large drill
intervals ranging from 76 to 144 metres.
Results and Next Steps: Both recent drill holes
intersected styles of alteration and sulphide mineralization
similar to that observed at Caballito and suggests potential for
additional oxide and sulphide mineralization. Drilling results are
illustrated in Figure 6 and assay results are presented in Table 4,
drill highlights include:
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Hole
CQDH-22-187: 0.27 g/t Au over 113.7m (from 5.2m in
oxide) |
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Hole
CQDH-22-189: 0.46 g/t Au over 104.8m, incl. 0.70 g/t Au over
46.5m (from 18.3m in oxide) |
The near surface oxide drill results support the exploration model
and indicate the potential to add oxide mineralization at the Cerro
Quema project.
Additional drilling is being considered for early 2023 with the
goal of testing and expanding Au-Cu mineralization at La
Pelona.
Figure 6: La Pelona Cross-Section with results (Cerro Quema) (CNW
Group/Orla Mining Ltd.)
La Prieta:
Program: Three diamond drill core holes, totalling
1,494 metres have been completed at La Prieta. These first drill
holes tested a large (1.2 km2) soil, rock and
geophysical IP anomalies consistent with intrusion-related Au-Cu
mineralization.
Results and Next Steps: All three holes intercepted
anomalous gold-copper mineralization and significant Au intercepts
in hole 188. Mineralization is associated with pyrite,
chalcopyrite, and bornite in quartz stockworks, quartz veins and
hydrothermal magnetite-pyrite matrix breccias. This mineralization
provides strong indicators of high potential for an Au-Cu
intrusion-related system discovery. Drilling results are
illustrated in Figure 7 and assay results are presented in Table 4.
Drill highlights include:
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Hole
CQDH-22-186: 0.50 g/t Au and 0.32% Cu over 10.5m |
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Hole
CQDH-22-188: 1.01 g/t Au over 13.5m, 27.3 g/t Au and 0.91% Cu
over 0.75m |
These first drill results demonstrate that La Prieta mineralized
intrusive system has generated anomalous to significant gold
grades over significant widths (e.g., 0.23 g/t Au over 35.95m,
0.31 g/t Au over 17.75m, 1.01 g/t Au over 13.5m) as
well as narrow high-grade intervals (e.g., 27.3 g/t Au and 0.91%
Cu over 0.75m). The results justify follow-up drilling over the
target area.
Additional drilling will be considered for early 2023 to continue
to test and evaluate the economic potential of Au-Cu mineralization
at La Prieta.
Figure 7: La Prieta Cross-Section with results (Cerro Quema) (CNW
Group/Orla Mining Ltd.)
SOUTH RAILROAD (NEVADA, USA) EXPLORATION:
Orla recently acquired two projects in Nevada through its
acquisition of GSV: The South Railroad Project, located on the
Carlin Trend, and the Lewis Project, located on the Battle Mountain
Trend (Figure 8).
Program: Through the remainder of the year, Orla will
continue with GSV's 2022 planned program of resource expansion and
exploration drilling at key targets on the South Railroad Project.
The Company will also commence an additional 5,000 metre RC and
core drill program at South Railroad for an additional $1.5
million, bringing the total 2022 planned direct drilling cost
spending to $3.0 million across 11,370 metres of drilling. The
current and primary objectives are to upgrade and increase oxide
resources at the Pinion SB, LT, POD, Sweet Hollow, Jasperoid Wash,
and Dixie targets (Figure 8).
Figure 8: South Railroad Project - target areas for H2 drilling
(CNW Group/Orla Mining Ltd.)
2022 EXPLORATION BUDGET:
The initial 2022 exploration budget totalled $15 million, with $10
million allocated to Mexico and $5 million allocated to Panama.
Supported by the recent exploration success and following the
completion of the acquisition of Gold Standard Ventures, Orla will
increase the 2022 spending to $18.0 million.
Qualified Person Statement
The scientific and technical information in this news release has
been reviewed and approved by Mr. Sylvain Guerard, P Geo., SVP
Exploration of the Company, who is the Qualified Person as defined
under the definitions of National Instrument 43-101 ("NI
43-101").
To verify the information related to the 2022 drilling programs at
the Camino Rojo and Cerro Quema properties, Mr. Guerard has visited
the properties in the past year; discussed logging, sampling, and
sample shipping processes with responsible site staff; discussed
and reviewed assay and QA/QC results with responsible personnel;
and reviewed supporting documentation, including drill hole
location and orientation and significant assay interval
calculations.
Quality Assurance / Quality Control - 2022 Drill Program
Camino Rojo
All gold results at Camino Rojo were obtained by ALS Minerals
(Au-AA23) using fire assay fusion and an atomic absorption
spectroscopy finish. All samples are also analyzed for
multi-elements, including silver, copper, lead and zinc using an
Aqua Regia (ME-ICP61) method at ALS Laboratories in Canada. If
samples are returned with base metal values in excess of 1% by ICP
analysis, samples are re-run with AA46 aqua regia and atomic
absorption analysis. Drill program design, Quality
Assurance/Quality Control and interpretation of results are
performed by qualified persons employing a Quality
Assurance/Quality Control program consistent with NI 43-101 and
industry best practices. Standards were inserted at a frequency of
one in every 50 samples, and blanks were inserted at a frequency of
one in every 50 samples for Quality Assurance/Quality Control
purposes by the Company as well as the lab. ALS Laboratories is
independent of Orla. There are no known drilling, sampling,
recovery, or other factors that could materially affect the
accuracy or reliability of the drilling data at Camino Rojo.
Cerro Quema
All gold results for Cerro Quema were obtained by ALS Minerals
(Au-AA23) using fire assay fusion and an atomic absorption
spectroscopy finish. All samples are also analyzed for
multi-elements, including copper, using an Aqua Regia (ME-ICP41)
method at ALS Laboratories in Peru. If samples are returned
with base metal values in excess of 1% by ICP analysis, samples are
re-run with AA46 aqua regia and atomic absorption analysis.
If samples are returned with gold metal values in excess of 10 g/t
by fire assay and atomic absorption spectroscopy finish, samples
are re-run with Au-GRA21 gravimetric analysis and atomic absorption
analysis. Drill program design, Quality Assurance/Quality
Control and interpretation of results are performed by qualified
persons employing a Quality Assurance/Quality Control program
consistent with NI 43-101 and industry best practices.
Standards were inserted at a frequency of one in every 50 samples,
and blanks were inserted at a frequency of (at random) one in every
70 samples for Quality Assurance/Quality Control purposes by the
Company as well as the lab. ALS Laboratories is independent
of Orla. There are no known drilling, sampling, recovery, or
other factors that could materially affect the accuracy or
reliability of the drilling data at Cerro Quema.
South Railroad Project Technical Information
With respect to the South Railroad Project, the mineral reserve
estimate for: (i) Dark Star consists of 283 koz gold of proven
reserves (6,911 k tonnes at 1.27 g/t) and 557 koz gold of probable
reserves (22,247 k tonnes at 0.78 g/t); and (ii) Pinion consists of
50 koz gold of proven reserves (2,049 k tonnes at 0.76 g/t) and 714
koz gold of probable resources (33,992 k tonnes at 0.65 g/t). The
mineral resource estimate for (i) Dark Star consists of 288 koz
gold of measured resources (7,225 k tonnes at 1.24 g/t), 625 koz
gold of indicated resources (24,567 k tonnes at 0.79 g/t) and 19
koz gold of inferred resources (1,176 k tonnes at 0.51 g/t); (ii)
Pinion consists of 55 koz gold of measured resources (2,336 k
tonnes at 0.73 g/t), 816 koz gold of indicated resources (41,193 k
tonnes at 0.62 g/t) and 15 koz gold of inferred resources (1,178 k
tonnes at 0.40 g/t); (iii) Jasperoid Wash consists of 130 koz gold
of inferred resources (11,939 k tonnes at 0.34 g/t); (iv) POD /
Sweet Hollow consists of 142 koz gold of inferred resources (4,654
k tonnes at 0.95 g/t); (v) North Bullion Open Pit consists of 344
koz gold of inferred resources (2,849 k tonnes at 3.75 g/t); and
(vi) North Bullion Underground consists of 66 koz gold of inferred
resources (457 k tonnes at 4.49 g/t). For additional detail, see
the South Railroad Feasibility Study (as defined below). Mineral
resources are inclusive of mineral reserves.
About Orla Mining Ltd.
Orla is operating the Camino Rojo Oxide Gold Mine, a gold and
silver open-pit and heap leach mine, located in Zacatecas State,
Mexico. The property is 100% owned by Orla and covers over 160,000
hectares. The technical report for the 2021 Feasibility Study on
the Camino Rojo oxide gold project entitled "Unconstrained
Feasibility Study NI 43-101 Technical Report on the Camino Rojo
Gold Project - Municipality of Mazapil, Zacatecas, Mexico"
dated January 11, 2021, is available on SEDAR and EDGAR under the
Company's profile at www.sedar.com and www.sec.gov,
respectively. Orla also owns 100% of Cerro Quema located in Panama
which includes a gold production scenario and various exploration
targets. Cerro Quema is a proposed open pit mine and gold heap
leach operation. The technical report for the Pre-Feasibility Study
on the Cerro Quema oxide gold project entitled "Project
Pre-Feasibility Updated NI 43-101 Technical Report on the Cerro
Quema Project, Province of Los Santos, Panama"
dated January 18, 2022 (the "Cerro Quema Pre-Feasibility
Study"), is available on SEDAR and EDGAR under the Company's
profile at www.sedar.com and www.sec.gov, respectively. Orla
also owns 100% of the South Railroad Project, a feasibility-stage,
open pit, heap leach project located on the Carlin trend in Nevada.
The technical report for the 2022 Feasibility Study entitled
"South Railroad Project, Form 43-101F1 Technical Report
Feasibility Study, Elko County, Nevada" dated March 23, 2022
(the "South Railroad Feasibility Study"), is available on SEDAR and
EDGAR under Gold Standard Venture's profile at www.sedar.com and
www.sec.gov, respectively. The technical reports are available on
Orla's website at www.orlamining.com.
Forward-looking Statements
This news release contains certain "forward-looking information"
and "forward-looking statements" within the meaning of Canadian
securities legislation and within the meaning of Section 27A of the
United States Securities Act of 1933, as amended, Section 21E of
the United States Exchange Act of 1934, as amended, the United
States Private Securities Litigation Reform Act of 1995, or in
releases made by the United States Securities and Exchange
Commission, all as may be amended from time to time, including,
without limitation, statements regarding the 2022 drill program,
including the expected timing, benefits and results thereof, and
statements regarding potential mineralization at the Company's
projects. Forward-looking statements are statements that are
not historical facts which address events, results, outcomes or
developments that the Company expects to occur. Forward-looking
statements are based on the beliefs, estimates and opinions of the
Company's management on the date the statements are made and they
involve a number of risks and uncertainties. Certain material
assumptions regarding such forward-looking statements were made,
including without limitation, assumptions regarding the price of
gold, silver, and copper; the accuracy of mineral resource and
mineral reserve estimations; that there will be no material adverse
change affecting the Company or its properties; that all required
approvals will be obtained, including concession renewals and
permitting; that political and legal developments will be
consistent with current expectations; that currency and exchange
rates will be consistent with current levels; and that there will
be no significant disruptions affecting the Company or its
properties. Consequently, there can be no assurances that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Forward-looking statements involve significant known
and unknown risks and uncertainties, which could cause actual
results to differ materially from those anticipated. These risks
include, but are not limited to: uncertainty and variations in the
estimation of mineral resources and mineral reserves, including
risks that the interpreted drill results may not accurately
represent the actual continuity of geology or grade of the deposit,
bulk density measurements may not be representative, interpreted
and modelled metallurgical domains may not be representative, and
metallurgical recoveries may not be representative; the Company's
reliance on Camino Rojo and risks associated with its start-up
phase; financing risks and access to additional capital; risks
related to natural disasters, terrorist acts, health crises and
other disruptions and dislocations, including by the COVID-19
pandemic; risks related to the Company's indebtedness; success of
exploration, development, and operation activities; foreign country
and political risks, including risks relating to foreign operations
and expropriation or nationalization of mining operations;
concession risks; permitting risks; environmental and other
regulatory requirements; delays in or failures to enter into a
subsequent agreement with Fresnillo Plc with respect to accessing
certain additional portions of the mineral resource at Camino Rojo
and to obtain the necessary regulatory approvals related thereto;
the mineral resource estimations for Camino Rojo being only
estimates and relying on certain assumptions; the Layback Agreement
with Fresnillo Plc remaining subject to the transfer of surface
rights; delays in or failure to get access from surface rights
owners; risks related to guidance estimates and uncertainties
inherent in the preparation of feasibility and pre-feasibility
studies, including but not limited to, assumptions underlying the
production estimates not being realized, changes to the cost of
production, variations in quantity of mineralized material, grade
or recovery rates, geotechnical or hydrogeological considerations
during mining differing from what has been assumed, failure of
plant, equipment or processes, changes to availability of power or
the power rates, ability to maintain social license, changes to
exchange, interest or tax rates, cost of labour, supplies, fuel and
equipment rising, changes in project parameters, delays, and costs
inherent to consulting and accommodating rights of local
communities; uncertainty in estimates of production, capital, and
operating costs and potential production and cost overruns; the
fluctuating price of gold, silver, and copper; global financial
conditions; uninsured risks; competition from other companies and
individuals; uncertainties related to title to mineral properties;
conflicts of interest; risks related to compliance with
anti-corruption laws; volatility in the market price of the
Company's securities; assessments by taxation authorities in
multiple jurisdictions; foreign currency fluctuations; the
Company's limited operating history; risks related to the Company's
history of negative operating cash flow; litigation risks;
intervention by non-governmental organizations; outside contractor
risks; risks related to historical data; unknown labilities in
connection with acquisitions; the Company's ability to identify,
complete, and successfully integrate acquisitions; dividend risks;
risks related to the Company's foreign subsidiaries; risks related
to the Company's accounting policies and internal controls; the
Company's ability to satisfy the requirements of the Sarbanes-Oxley
Act of 2002; enforcement of civil liabilities; the Company's status
as a passive foreign investment company for U.S. federal income tax
purposes; information and cyber security; gold industry
concentration; shareholder activism; risks associated with
executing the Company's objectives and strategies, as well as those
risk factors discussed in the Company's most recently filed
management's discussion and analysis, as well as its annual
information form dated March 18, 2022, which are available on
www.sedar.com and www.sec.gov. Except as required by the securities
disclosure laws and regulations applicable to the Company, the
Company undertakes no obligation to update these forward-looking
statements if management's beliefs, estimates or opinions, or other
factors, should change.
Cautionary Note to U.S. Readers
This news release has been prepared in accordance with Canadian
standards for the reporting of mineral resource and mineral reserve
estimates, which differ from the previous and current standards of
the United States securities laws. In particular, and without
limiting the generality of the foregoing, the terms "mineral
reserve", "proven mineral reserve", "probable mineral reserve",
"inferred mineral resources,", "indicated mineral resources,"
"measured mineral resources" and "mineral resources" used or
referenced herein and the documents incorporated by reference
herein, as applicable, are Canadian mineral disclosure terms as
defined in accordance with Canadian National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI 43-101") and the
Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM")
- CIM Definition Standards on Mineral Resources and Mineral
Reserves, adopted by the CIM Council, as amended (the "CIM
Definition Standards").
For United States reporting purposes, the United States
Securities and Exchange Commission (the "SEC") has adopted
amendments to its disclosure rules (the "SEC Modernization Rules")
to modernize the mining property disclosure requirements for
issuers whose securities are registered with the SEC under the
Exchange Act, which became effective February 25, 2019. The SEC
Modernization Rules more closely align the SEC's disclosure
requirements and policies for mining properties with current
industry and global regulatory practices and standards, including
NI 43-101, and replace the historical property disclosure
requirements for mining registrants that were included in SEC
Industry Guide 7. Issuers were required to comply with the SEC
Modernization Rules in their first fiscal year beginning on or
after January 1, 2021. As a foreign private issuer that is eligible
to file reports with the SEC pursuant to the multi-jurisdictional
disclosure system, the Corporation is not required to provide
disclosure on its mineral properties under the SEC Modernization
Rules and will continue to provide disclosure under NI 43-101 and
the CIM Definition Standards. Accordingly, mineral reserve and
mineral resource information contained or incorporated by reference
herein may not be comparable to similar information disclosed by
United States companies subject to the United States federal
securities laws and the rules and regulations thereunder.
As a result of the adoption of the SEC Modernization Rules, the
SEC now recognizes estimates of "measured mineral resources",
"indicated mineral resources" and "inferred mineral resources." In
addition, the SEC has amended its definitions of "proven mineral
reserves" and "probable mineral reserves" to be "substantially
similar" to the corresponding CIM Definition Standards that are
required under NI 43-101. While the SEC will now recognize
"measured mineral resources", "indicated mineral resources" and
"inferred mineral resources", U.S. investors should not assume that
all or any part of the mineralization in these categories will be
converted into a higher category of mineral resources or into
mineral reserves without further work and analysis. Mineralization
described using these terms has a greater amount of uncertainty as
to its existence and feasibility than mineralization that has been
characterized as reserves. Accordingly, U.S. investors are
cautioned not to assume that all or any measured mineral resources,
indicated mineral resources, or inferred mineral resources that the
Company reports are or will be economically or legally mineable
without further work and analysis. Further, "inferred mineral
resources" have a greater amount of uncertainty and as to whether
they can be mined legally or economically. Therefore, U.S.
investors are also cautioned not to assume that all or any part of
inferred mineral resources will be upgraded to a higher category
without further work and analysis. Under Canadian securities laws,
estimates of "inferred mineral resources" may not form the basis of
feasibility or pre-feasibility studies, except in rare cases. While
the above terms are "substantially similar" to CIM Definitions,
there are differences in the definitions under the SEC
Modernization Rules and the CIM Definition Standards. Accordingly,
there is no assurance any mineral reserves or mineral resources
that the Company may report as "proven mineral reserves", "probable
mineral reserves", "measured mineral resources", "indicated mineral
resources" and "inferred mineral resources" under NI 43-101 would
be the same had the Company prepared the reserve or resource
estimates under the standards adopted under the SEC Modernization
Rules or under the prior standards of SEC Industry Guide 7.
Appendix: Drill Results
Table 1: Camino Rojo Near Mine Composite Drill Results
|
HOLE-ID |
From
(m) |
To
(m) |
Core
Length
(m) |
True
Width
(m) |
Au
g/t |
Ag
g/t |
Au
GXM |
Au
GXM
(TW) |
Including
2.0g/t Au
COG |
Including
10g/t Au
HG |
Ox /
Sx |
|
CRSX22-05 |
19.50 |
21.00 |
1.50 |
1.06 |
1.10 |
7.2 |
1.64 |
1.16 |
|
|
Ox |
|
CRSX22-05 |
22.50 |
24.00 |
1.50 |
1.06 |
1.69 |
7.9 |
2.53 |
1.78 |
|
|
Ox |
|
CRSX22-05 |
43.80 |
45.65 |
1.85 |
1.31 |
1.57 |
9.4 |
2.90 |
2.06 |
|
|
Ox |
|
CRSX22-05 |
84.00 |
86.80 |
2.80 |
2.14 |
4.16 |
8.8 |
11.65 |
8.91 |
1.3m
@ 7.14g/t Au |
|
Ox |
|
CRSX22-05 |
169.50 |
194.75 |
25.25 |
18.14 |
1.03 |
17.7 |
26.09 |
18.74 |
1.5m
@ 2.12g/t Au
1.5m
@ 2.7g/t Au
1.5m
@ 2.32g/t Au |
|
Tr |
|
CRSX22-05 |
200.35 |
201.50 |
1.15 |
0.87 |
1.43 |
46.1 |
1.64 |
1.25 |
|
|
Sx |
|
CRSX22-05 |
216.80 |
278.00 |
61.20 |
46.37 |
1.95 |
20.4 |
119.52 |
90.56 |
8.55m
@ 3.37g/t Au
3m @
4.24g/t Au
19.45m @ 2.05g/t
Au |
|
Sx |
|
CRSX22-05 |
300.00 |
301.50 |
1.50 |
1.13 |
1.49 |
13.0 |
2.23 |
1.68 |
|
|
Tr |
|
CRSX22-05 |
307.50 |
313.50 |
6.00 |
4.54 |
1.16 |
14.3 |
6.99 |
5.28 |
|
|
Sx |
|
CRSX22-05 |
340.50 |
345.00 |
4.50 |
3.40 |
1.56 |
8.9 |
7.03 |
5.30 |
1.5m
@ 3.09g/t Au |
|
Sx |
|
CRSX22-06 |
184.50 |
186.00 |
1.50 |
1.03 |
1.24 |
20.6 |
1.85 |
1.28 |
|
|
Tr |
|
CRSX22-06 |
270.05 |
274.00 |
3.95 |
3.61 |
1.11 |
20.1 |
4.38 |
4.00 |
|
|
Sx |
|
CRSX22-06 |
289.50 |
317.00 |
27.50 |
21.31 |
1.89 |
16.6 |
52.11 |
40.38 |
10.85m
@ 2.78g/t Au
1.5m
@ 2.17g/t Au
4.5m
@ 3.01g/t Au |
|
Sx |
|
CRSX22-06 |
324.50 |
366.00 |
41.50 |
27.98 |
2.56 |
12.6 |
106.14 |
71.56 |
1.5m
@ 4.71g/t Au
19.45m @ 4g/t
Au |
0.4m
@ 77.5g/t Au |
Sx |
|
CRSX22-06 |
372.90 |
393.00 |
20.10 |
13.57 |
2.01 |
13.6 |
40.44 |
27.30 |
18.35m
@ 2.09g/t Au |
|
Sx |
|
CRSX22-06 |
400.00 |
401.10 |
1.10 |
0.77 |
2.38 |
22.0 |
2.62 |
1.84 |
|
|
Sx |
|
CRSX22-07A |
495.70 |
511.00 |
15.30 |
15.00 |
3.28 |
15.0 |
50.16 |
49.18 |
13.8m
@ 3.47g/t Au |
|
Sx |
|
CRSX22-07A |
521.80 |
527.00 |
5.20 |
5.09 |
8.74 |
26.3 |
45.45 |
44.49 |
5.2m
@ 8.74g/t Au |
1.5m
@ 21.8g/t Au |
Sx |
|
CRSX22-07A |
542.70 |
548.50 |
5.80 |
5.67 |
2.24 |
5.0 |
12.97 |
12.68 |
4.3m
@ 2.36g/t Au |
|
Sx |
|
CRSX22-07A |
568.00 |
571.00 |
3.00 |
2.93 |
3.30 |
7.7 |
9.89 |
9.66 |
1.5m
@ 5.34g/t Au |
|
Sx |
|
CRSX22-07A |
583.40 |
620.00 |
36.60 |
35.74 |
3.20 |
9.2 |
117.07 |
114.32 |
36.6m
@ 3.2g/t Au |
1.5m
@ 15.5g/t Au |
Sx |
|
CRSX22-07A |
629.00 |
635.00 |
6.00 |
5.55 |
2.73 |
4.9 |
16.36 |
15.13 |
3m
@ 4.73g/t Au |
|
Sx |
|
CRSX22-07A |
642.00 |
656.00 |
14.00 |
12.94 |
2.18 |
17.8 |
30.56 |
28.25 |
5m
@ 3.64g/t Au
1.5m
@ 4.27g/t Au |
|
Sx |
|
CRSX22-07A |
666.00 |
671.40 |
5.40 |
5.27 |
2.64 |
18.2 |
14.27 |
13.93 |
2.9m
@ 4.14g/t Au |
|
Sx |
|
CRSX22-07A |
682.00 |
689.50 |
7.50 |
7.32 |
2.28 |
17.2 |
17.09 |
16.68 |
1.5m
@ 6.43g/t Au |
|
Sx |
|
CRSX22-07A |
699.90 |
702.50 |
2.60 |
2.53 |
1.18 |
39.4 |
3.07 |
3.00 |
|
|
Sx |
|
CRSX22-07A |
713.00 |
720.00 |
7.00 |
6.82 |
2.91 |
6.6 |
20.35 |
19.83 |
7m
@ 2.91g/t Au |
|
Sx |
|
CRSX22-07A |
735.00 |
750.00 |
15.00 |
14.62 |
1.88 |
3.6 |
28.17 |
27.46 |
10.5m
@ 2.34g/t Au
0.8m
@ 3.77g/t Au |
|
Sx |
|
CRSX22-07A |
760.00 |
760.60 |
0.60 |
0.59 |
2.66 |
23.3 |
1.60 |
1.57 |
|
|
Sx |
|
CRSX22-07A |
763.50 |
765.00 |
1.50 |
1.47 |
1.11 |
2.0 |
1.66 |
1.63 |
|
|
Sx |
|
CRSX22-07B |
428.50 |
435.50 |
7.00 |
6.40 |
2.28 |
29.1 |
15.93 |
14.57 |
7m
@ 2.28g/t Au |
|
Sx |
|
CRSX22-07B |
453.00 |
480.50 |
27.50 |
25.04 |
1.34 |
8.2 |
36.92 |
33.61 |
7m
@ 2.52g/t Au
1.5m
@ 2.51g/t Au |
|
Sx |
|
CRSX22-07B |
489.50 |
503.00 |
13.50 |
12.27 |
1.37 |
11.0 |
18.53 |
16.84 |
4.5m
@ 3.08g/t Au |
|
Sx |
|
CRSX22-07B |
524.00 |
537.55 |
13.55 |
12.27 |
2.72 |
6.0 |
36.81 |
33.33 |
13.55m
@ 2.72g/t Au |
|
Sx |
|
CRSX22-07B |
556.00 |
557.50 |
1.50 |
1.36 |
3.36 |
11.9 |
5.04 |
4.55 |
1.5m
@ 3.36g/t Au |
|
Sx |
|
CRSX22-07B |
585.00 |
597.00 |
12.00 |
10.82 |
3.29 |
12.0 |
39.45 |
35.56 |
12m
@ 3.29g/t Au |
|
Sx |
|
CRSX22-07B |
608.50 |
635.50 |
27.00 |
24.29 |
2.13 |
10.0 |
57.46 |
51.69 |
9.5m
@ 4.43g/t Au |
1.5m
@ 18.7g/t Au |
Sx |
|
CRSX22-07B |
642.40 |
643.90 |
1.50 |
1.21 |
11.75 |
69.2 |
17.63 |
14.26 |
1.5m
@ 11.75g/t Au |
1.5m
@ 11.75g/t Au |
Sx |
|
CRSX22-07B |
665.50 |
683.50 |
18.00 |
14.54 |
1.36 |
16.0 |
24.41 |
19.72 |
1.5m
@ 3.48g/t Au |
|
Sx |
|
CRSX22-07B |
718.50 |
720.00 |
1.50 |
1.20 |
1.36 |
16.2 |
2.04 |
1.64 |
|
|
Sx |
|
CRSX22-07B |
728.00 |
729.50 |
1.50 |
1.20 |
1.08 |
5.5 |
1.62 |
1.30 |
|
|
Sx |
|
CRSX22-07B |
745.50 |
748.00 |
2.50 |
2.01 |
5.43 |
13.4 |
13.57 |
10.90 |
2.5m
@ 5.43g/t Au |
|
Sx |
|
CRSX22-07B |
755.50 |
757.00 |
1.50 |
1.21 |
1.02 |
1.7 |
1.52 |
1.22 |
|
|
Sx |
|
CRSX22-07B |
758.50 |
760.00 |
1.50 |
1.21 |
1.51 |
0.5 |
2.26 |
1.81 |
|
|
Sx |
|
CRSX22-07B |
767.50 |
769.00 |
1.50 |
1.20 |
1.45 |
2.1 |
2.17 |
1.74 |
|
|
Sx |
|
CRSX22-07B |
775.00 |
776.50 |
1.50 |
1.25 |
1.17 |
9.7 |
1.76 |
1.46 |
|
|
Sx |
|
CRSX22-08A |
512.90 |
514.40 |
1.50 |
1.44 |
5.32 |
7.0 |
7.98 |
7.66 |
1.5m
@ 5.32g/t Au |
|
Sx |
|
CRSX22-08A |
537.00 |
552.00 |
15.00 |
14.37 |
1.01 |
5.8 |
15.20 |
14.57 |
1.5m
@ 3.5g/t Au
1.5m
@ 2.49g/t Au |
|
Sx |
|
CRSX22-08A |
560.90 |
601.00 |
40.10 |
38.37 |
2.65 |
12.9 |
106.12 |
101.53 |
4.2m
@ 5.31g/t Au
23.5m
@ 3.09g/t Au |
1.1m
@ 13.05g/t Au
1.5m
@ 19.25g/t Au |
Tr |
|
CRSX22-08A |
608.50 |
661.00 |
52.50 |
50.11 |
3.08 |
5.9 |
161.79 |
154.41 |
28.5m
@ 4.37g/t Au
7.5m
@ 3.36g/t Au |
1.5m
@ 37.2g/t Au
0.5m
@ 13.9g/t Au |
Sx |
|
CRSX22-08A |
686.50 |
688.00 |
1.50 |
1.43 |
2.99 |
5.0 |
4.49 |
4.27 |
1.5m
@ 2.99g/t Au |
|
Sx |
|
CRSX22-08A |
705.50 |
708.50 |
3.00 |
2.85 |
1.14 |
1.5 |
3.41 |
3.24 |
|
|
Tr |
|
CRSX22-08A |
738.00 |
759.50 |
21.50 |
18.95 |
1.88 |
4.4 |
40.52 |
35.71 |
4.5m
@ 3.07g/t Au
7.5m
@ 2.57g/t Au |
|
Tr |
|
CRSX22-08A |
767.00 |
773.70 |
6.70 |
5.90 |
1.14 |
10.7 |
7.61 |
6.70 |
1.2m
@ 3.39g/t Au |
|
Tr |
|
CRSX22-08A |
776.50 |
778.65 |
2.15 |
1.89 |
1.28 |
8.2 |
2.76 |
2.43 |
|
|
Tr |
|
CRSX22-08A |
789.50 |
809.50 |
20.00 |
17.59 |
5.25 |
57.7 |
104.96 |
92.30 |
5.7m
@ 15.45g/t Au |
2.7m
@ 29.94g/t Au |
Sx |
|
CRSX22-08A |
817.00 |
818.50 |
1.50 |
1.32 |
1.06 |
12.2 |
1.59 |
1.40 |
|
|
Sx |
|
CRSX22-08A |
832.00 |
833.50 |
1.50 |
1.32 |
1.27 |
47.2 |
1.90 |
1.67 |
|
|
Sx |
|
Criteria:
Cut off grade 1g/t Au, minimum length 1.5m, maximum consecutive
internal waste 6m, if Au grade x length > 1.5 the composite will
be added |
Table 2: Camino Rojo Regional Composite Drill Results
|
HOLE-ID |
From
(m) |
To
(m) |
Core
Length
(m) |
Au
g/t |
Ag
g/t |
Sb
ppm |
Au
GXM |
Best
Au Sample
(g/t) |
Best
Ag Sample
(g/t) |
Best
Sb Sample
(ppm) |
|
CREI22-18A |
No
Significant Intercepts |
|
|
|
|
|
|
0.008 |
0.8 |
8 |
|
CREI22-19 |
No
Significant Intercepts |
|
|
|
|
|
|
0.011 |
0.5 |
8 |
|
CREI22-20 |
No
Significant Intercepts |
|
|
|
|
|
|
0.007 |
0.25 |
6 |
|
CREI22-21 |
No
Significant Intercepts |
|
|
|
|
|
|
0.0025 |
0.25 |
2.5 |
|
CREI22-22 |
No
Significant Intercepts |
|
|
|
|
|
|
0.007 |
0.5 |
6 |
|
CREI22-23 |
307.50 |
313.50 |
6.00 |
0.11 |
2.5 |
13.8 |
0.65 |
0.297 |
3.7 |
2720 |
|
CREI22-23 |
324.00 |
325.50 |
1.50 |
0.30 |
1.8 |
21.0 |
0.45 |
0.297 |
3.7 |
2720 |
|
CREI22-23A |
No
Significant Intercepts |
|
|
|
|
|
|
0.028 |
2.7 |
1185 |
|
CREI22-24 |
No
Significant Intercepts |
|
|
|
|
|
|
0.019 |
1 |
227 |
|
CREI22-24A |
Assays
Pending |
|
|
|
|
|
|
0.021 |
1 |
17 |
|
CREI22-25 |
208.50 |
210.00 |
1.50 |
0.11 |
1.3 |
5.0 |
0.16 |
0.107 |
1.3 |
16 |
|
CREI22-25A |
Assays
Pending |
|
|
|
|
|
|
0.043 |
0.6 |
6 |
|
CREI22-26 |
64.50 |
66.00 |
1.50 |
0.31 |
0.3 |
27.0 |
0.46 |
0.307 |
0.9 |
161 |
|
CREI22-26A |
No
Significant Intercepts |
|
|
|
|
|
|
0.008 |
0.5 |
116 |
|
CREI22-27 |
No
Significant Intercepts |
|
|
|
|
|
|
0.04 |
0.25 |
147 |
|
CREI22-27A |
No
Significant Intercepts |
|
|
|
|
|
|
0.007 |
0.5 |
22 |
|
CREI22-27B |
No
Significant Intercepts |
|
|
|
|
|
|
0.008 |
0.6 |
71 |
|
CREI22-28 |
No
Significant Intercepts |
|
|
|
|
|
|
0.033 |
1.5 |
282 |
|
CREI22-28A |
No
Significant Intercepts |
|
|
|
|
|
|
0.024 |
1.5 |
88 |
|
CREI22-29 |
No
Significant Intercepts |
|
|
|
|
|
|
0.013 |
0.25 |
8 |
|
CREI22-30 |
No
Significant Intercepts |
|
|
|
|
|
|
0.007 |
0.25 |
8 |
|
CREI22-30A |
No
Significant Intercepts |
|
|
|
|
|
|
0.009 |
0.25 |
5 |
|
CREI22-31 |
No
Significant Intercepts |
|
|
|
|
|
|
0.027 |
0.25 |
5 |
|
CREI22-31A |
No
Significant Intercepts |
|
|
|
|
|
|
0.009 |
0.5 |
6 |
|
CREI22-32 |
No
Significant Intercepts |
|
|
|
|
|
|
0.006 |
0.5 |
2.5 |
|
CREI22-33 |
No
Significant Intercepts |
|
|
|
|
|
|
0.01 |
0.6 |
2.5 |
|
CREI22-33A |
No
Significant Intercepts |
|
|
|
|
|
|
0.01 |
0.25 |
2.5 |
|
CREI22-34 |
Geologist
decided not to send for analysis |
|
|
|
|
|
|
- |
- |
- |
|
RABCR22-274 |
No
Significant Intercepts |
|
|
|
|
|
|
0.005 |
0.25 |
2.5 |
|
RABCR22-274A |
No
Significant Intercepts |
|
|
|
|
|
|
0.007 |
0.25 |
2.5 |
|
RABCR22-275 |
No
Significant Intercepts |
|
|
|
|
|
|
0.0025 |
0.25 |
2.5 |
|
RABCR22-276 |
No
Significant Intercepts |
|
|
|
|
|
|
0.018 |
0.25 |
5 |
|
RABCR22-277 |
No
Significant Intercepts |
|
|
|
|
|
|
0.0025 |
0.25 |
2.5 |
|
RABCR22-278 |
No
Significant Intercepts |
|
|
|
|
|
|
0.0025 |
0.25 |
2.5 |
|
RABCR22-279 |
No
Significant Intercepts |
|
|
|
|
|
|
0.006 |
0.25 |
6 |
|
RABCR22-280 |
No
Significant Intercepts |
|
|
|
|
|
|
0.0025 |
0.25 |
2.5 |
|
RABCR22-281 |
No
Significant Intercepts |
|
|
|
|
|
|
0.0025 |
1.2 |
2.5 |
|
RABCR22-282 |
No
Significant Intercepts |
|
|
|
|
|
|
0.069 |
0.6 |
2.5 |
|
RABCR22-283 |
No
Significant Intercepts |
|
|
|
|
|
|
0.01 |
0.25 |
2.5 |
|
RABCR22-284 |
No
Significant Intercepts |
|
|
|
|
|
|
0.005 |
0.25 |
6 |
|
RABCR22-285 |
No
Significant Intercepts |
|
|
|
|
|
|
0.005 |
0.9 |
5 |
|
RABCR22-286 |
No
Significant Intercepts |
|
|
|
|
|
|
0.0025 |
0.25 |
2.5 |
|
RABCR22-287 |
No
Significant Intercepts |
|
|
|
|
|
|
0.006 |
0.25 |
12 |
|
RABCR22-288 |
No
Significant Intercepts |
|
|
|
|
|
|
0.006 |
0.25 |
9 |
|
RABCR22-289 |
No
Significant Intercepts |
|
|
|
|
|
|
0.022 |
0.25 |
6 |
|
RABCR22-290 |
No
Significant Intercepts |
|
|
|
|
|
|
0.005 |
0.25 |
7 |
|
RABCR22-291 |
No
Significant Intercepts |
|
|
|
|
|
|
0.006 |
0.25 |
5 |
|
RABCR22-292 |
No
Significant Intercepts |
|
|
|
|
|
|
0.0025 |
0.25 |
2.5 |
|
Criteria:
Cut off grade 0.1g/t Au, minimum length 1.5m, maximum consecutive
internal waste 6m. |
Table 3: Camino Rojo Drill Collars
|
Drillhole |
Easting |
Northing |
Elevation |
Azimuth |
Dip |
Depth
(m) |
|
CREI22-18A |
244150 |
2672553 |
1920 |
180 |
-60 |
291 |
|
CREI22-19 |
244394 |
2672790 |
1919 |
200 |
-60 |
267 |
|
CREI22-20 |
243898 |
2672294 |
1920 |
180 |
-60 |
236 |
|
CREI22-21 |
243901 |
2672049 |
1919 |
0 |
-60 |
210 |
|
CREI22-22 |
244149 |
2672300 |
1918 |
0 |
-60 |
216 |
|
CREI22-23 |
247786 |
2678734 |
1959 |
180 |
-60 |
338 |
|
CREI22-23 |
247786 |
2678734 |
1959 |
180 |
-60 |
338 |
|
CREI22-23A |
247782 |
2678746 |
1965 |
0 |
-60 |
200 |
|
CREI22-24 |
247781 |
2678998 |
1965 |
180 |
-60 |
300 |
|
CREI22-24A |
247784 |
2679007 |
1969 |
0 |
-60 |
200 |
|
CREI22-25 |
247798 |
2679263 |
1962 |
180 |
-60 |
278 |
|
CREI22-25A |
247797 |
2679273 |
1972 |
0 |
-60 |
170 |
|
CREI22-26 |
247501 |
2679260 |
1978 |
180 |
-60 |
300 |
|
CREI22-26A |
247498 |
2679266 |
1978 |
0 |
-60 |
254 |
|
CREI22-27 |
247507 |
2679512 |
1985 |
180 |
-60 |
210 |
|
CREI22-27A |
247506 |
2679516 |
1986 |
250 |
-60 |
200 |
|
CREI22-27B |
247505 |
2679516 |
1985 |
0 |
-60 |
200 |
|
CREI22-28 |
247514 |
2679741 |
1977 |
180 |
-60 |
281 |
|
CREI22-28A |
247512 |
2679746 |
1975 |
0 |
-60 |
200 |
|
CREI22-29 |
242190 |
2675202 |
1970 |
20 |
-60 |
180 |
|
CREI22-30 |
242187 |
2675447 |
1964 |
180 |
-60 |
200 |
|
CREI22-30A |
242188 |
2675449 |
1964 |
0 |
-60 |
200 |
|
CREI22-31 |
241937 |
2675701 |
1960 |
0 |
-60 |
200 |
|
CREI22-31A |
241941 |
2675699 |
1961 |
180 |
-60 |
200 |
|
CREI22-32 |
241195 |
2673501 |
1958 |
0 |
-50 |
150 |
|
CREI22-33 |
241191 |
2673745 |
1956 |
0 |
-50 |
150 |
|
CREI22-33A |
241201 |
2673747 |
1959 |
180 |
-50 |
150 |
|
CREI22-34 |
237240 |
2671211 |
1934 |
0 |
-60 |
204 |
|
RABCR22-274 |
252145 |
2658676 |
2202 |
0 |
-60 |
30 |
|
RABCR22-274A |
252147 |
2658670 |
2202 |
180 |
-60 |
30 |
|
RABCR22-275 |
252034 |
2658787 |
2189 |
180 |
-60 |
30 |
|
RABCR22-276 |
252188 |
2658729 |
2209 |
0 |
-60 |
30 |
|
RABCR22-277 |
251895 |
2658921 |
2189 |
0 |
-60 |
30 |
|
RABCR22-278 |
251643 |
2658928 |
2192 |
0 |
-60 |
30 |
|
RABCR22-279 |
251641 |
2659175 |
2199 |
0 |
-60 |
30 |
|
RABCR22-280 |
251394 |
2659177 |
2205 |
0 |
-60 |
30 |
|
RABCR22-281 |
251392 |
2658934 |
2205 |
0 |
-60 |
30 |
|
RABCR22-282 |
251395 |
2658676 |
2196 |
0 |
-60 |
30 |
|
RABCR22-283 |
252265 |
2658375 |
2166 |
0 |
-60 |
30 |
|
RABCR22-284 |
252119 |
2658145 |
2152 |
0 |
-60 |
30 |
|
RABCR22-285 |
252088 |
2657908 |
2146 |
0 |
-60 |
30 |
|
RABCR22-286 |
251894 |
2658181 |
2174 |
0 |
-60 |
30 |
|
RABCR22-287 |
251893 |
2658429 |
2179 |
0 |
-60 |
30 |
|
RABCR22-288 |
251895 |
2658679 |
2186 |
0 |
-60 |
30 |
|
RABCR22-289 |
251401 |
2658176 |
2181 |
0 |
-60 |
30 |
|
RABCR22-290 |
251646 |
2657928 |
2164 |
0 |
-60 |
30 |
|
RABCR22-291 |
251879 |
2657903 |
2161 |
0 |
-60 |
30 |
|
RABCR22-292 |
251897 |
2657682 |
2172 |
0 |
-60 |
30 |
|
CRSX22-05 |
244113 |
2676078 |
1920 |
147 |
-59 |
350 |
|
CRSX22-06 |
244025 |
2676076 |
1947 |
142 |
-65 |
401 |
|
CRSX22-07A |
243658 |
2676063 |
1953 |
152 |
-53 |
769 |
|
CRSX22-07B |
243658 |
2676063 |
1953 |
152 |
-49 |
781 |
|
CRSX22-08 |
243680 |
2676269 |
1954 |
148 |
-73 |
280 |
|
CRSX22-08A |
243680 |
2676269 |
1954 |
148 |
-73 |
849 |
Table 4: Cerro Quema Composite Drill Results
|
HOLE-ID |
From
(m) |
To
(m) |
Core
Length
(m) |
Au
g/t |
Cu
% |
Sb |
AuEq
g/t |
AuEq
GXM |
Including
0.5g/t AuEq
COG |
Including
1.0g/t AuEq
COG |
Ox /
Sx |
Area |
Cog
AuEq |
|
CQDH-22-186 |
0.00 |
1.50 |
1.50 |
0.30 |
0.05 |
1.00 |
0.38 |
0.57 |
|
|
Ox |
La
Prieta |
0.2 |
|
CQDH-22-186 |
58.50 |
60.00 |
1.50 |
0.43 |
0.23 |
1.00 |
0.76 |
1.14 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-186 |
69.00 |
70.50 |
1.50 |
0.52 |
0.03 |
1.00 |
0.56 |
0.85 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-186 |
118.50 |
129.00 |
10.50 |
0.25 |
0.21 |
1.00 |
0.55 |
5.74 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-186 |
147.00 |
148.50 |
1.50 |
0.21 |
0.24 |
2.00 |
0.56 |
0.84 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-186 |
219.00 |
228.00 |
9.00 |
0.33 |
0.26 |
1.00 |
0.71 |
6.36 |
|
1.5m
@ 0.78g/t Au & 0.61% Cu |
Sx |
La
Prieta |
0.5 |
|
CQDH-22-186 |
235.50 |
237.00 |
1.50 |
0.25 |
0.27 |
1.00 |
0.63 |
0.95 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-186 |
247.50 |
249.00 |
1.50 |
0.34 |
0.19 |
1.00 |
0.60 |
0.90 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-186 |
297.00 |
298.50 |
1.50 |
0.28 |
0.19 |
1.00 |
0.55 |
0.82 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-186 |
316.50 |
318.00 |
1.50 |
2.33 |
0.11 |
1.00 |
2.48 |
3.73 |
|
1.5m
@ 2.33g/t Au & 0.11% Cu |
Sx |
La
Prieta |
0.5 |
|
CQDH-22-186 |
343.50 |
345.00 |
1.50 |
0.88 |
0.06 |
1.00 |
0.96 |
1.44 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-186 |
355.50 |
366.00 |
10.50 |
0.50 |
0.32 |
1.00 |
0.96 |
10.04 |
|
3m
@ 1.08g/t Au & 0.81% Cu |
Sx |
La
Prieta |
0.5 |
|
CQDH-22-186 |
373.50 |
376.50 |
3.00 |
0.52 |
0.32 |
1.00 |
0.98 |
2.94 |
|
1.5m
@ 0.67g/t Au & 0.4% Cu |
Sx |
La
Prieta |
0.5 |
|
CQDH-22-186 |
526.00 |
527.50 |
1.50 |
0.34 |
0.14 |
2.00 |
0.54 |
0.81 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-187 |
5.20 |
118.90 |
113.70 |
0.27 |
0.03 |
4.72 |
0.32 |
36.42 |
4.6m
@ 0.78g/t Au & 0.03% Cu
2.2m
@ 0.78g/t Au & 0.05% Cu
1.5m
@ 0.51g/t Au & 0.05% Cu
3m @
0.5g/t Au & 0.06% Cu |
1.5m
@ 1.12g/t Au & 0.03% Cu |
Ox |
Pelona |
0.2 |
|
CQDH-22-187 |
310.60 |
312.10 |
1.50 |
0.50 |
0.01 |
1.00 |
0.51 |
0.77 |
|
|
Sx |
Pelona |
0.5 |
|
CQDH-22-188 |
0.00 |
4.50 |
4.50 |
1.08 |
0.06 |
1.15 |
1.16 |
5.22 |
1.5m
@ 2.91g/t Au & 0.09% Cu |
1.5m
@ 2.91g/t Au & 0.09% Cu |
Ox |
La
Prieta |
0.2 |
|
CQDH-22-188 |
64.10 |
81.85 |
17.75 |
0.31 |
0.20 |
1.03 |
0.59 |
10.52 |
|
1.5m
@ 0.74g/t Au & 0.19% Cu |
Sx |
La
Prieta |
0.5 |
|
CQDH-22-188 |
104.85 |
107.85 |
3.00 |
0.65 |
0.27 |
2.00 |
1.03 |
3.10 |
|
1m
@ 1.18g/t Au & 0.29% Cu |
Sx |
La
Prieta |
0.5 |
|
CQDH-22-188 |
248.35 |
251.85 |
3.50 |
2.62 |
0.15 |
1.00 |
2.84 |
9.95 |
|
3.5m
@ 2.62g/t Au & 0.15% Cu |
Sx |
La
Prieta |
0.5 |
|
CQDH-22-188 |
272.35 |
279.85 |
7.50 |
0.64 |
0.03 |
1.00 |
0.69 |
5.15 |
|
1.5m
@ 1.72g/t Au & 0.02% Cu |
Sx |
La
Prieta |
0.5 |
|
CQDH-22-188 |
308.35 |
311.35 |
3.00 |
0.39 |
0.27 |
1.00 |
0.77 |
2.31 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-188 |
326.35 |
362.30 |
35.95 |
0.23 |
0.20 |
1.00 |
0.52 |
18.66 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-188 |
363.20 |
363.95 |
0.75 |
27.30 |
0.91 |
1.00 |
28.60 |
21.45 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-188 |
369.65 |
372.60 |
2.95 |
0.25 |
0.26 |
1.49 |
0.63 |
1.85 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-188 |
421.60 |
423.10 |
1.50 |
0.39 |
0.08 |
4.37 |
0.51 |
0.76 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-188 |
442.30 |
443.80 |
1.50 |
0.44 |
0.06 |
4.82 |
0.52 |
0.79 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-188 |
446.80 |
448.30 |
1.50 |
0.52 |
0.02 |
3.00 |
0.55 |
0.83 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-188 |
463.30 |
476.80 |
13.50 |
1.01 |
0.07 |
12.50 |
1.11 |
14.95 |
|
7.5m
@ 1.46g/t Au & 0.09% Cu |
Sx |
La
Prieta |
0.5 |
|
CQDH-22-188 |
484.30 |
491.70 |
7.40 |
0.58 |
0.07 |
1.00 |
0.67 |
4.99 |
|
1.4m
@ 1.28g/t Au & 0.12% Cu |
Sx |
La
Prieta |
0.5 |
|
CQDH-22-189 |
18.30 |
123.10 |
104.80 |
0.46 |
0.03 |
5.99 |
0.51 |
53.11 |
46.5m
@ 0.7g/t Au & 0.03% Cu
3m @
0.57g/t Au & 0.06% Cu
1.5m
@ 0.45g/t Au & 0.04% Cu |
3m
@ 1.13g/t Au & 0.04% Cu
9m @
1.15g/t Au & 0.04% Cu |
Ox |
Pelona |
0.2 |
|
CQDH-22-189 |
153.00 |
154.50 |
1.50 |
0.18 |
0.47 |
8.00 |
0.86 |
1.29 |
|
|
Tr |
Pelona |
0.5 |
|
CQDH-22-189 |
170.56 |
173.35 |
2.79 |
0.25 |
0.30 |
8.49 |
0.69 |
1.91 |
|
|
Sx |
Pelona |
0.5 |
|
CQDH-22-190 |
0.00 |
14.20 |
14.20 |
0.29 |
0.17 |
1.00 |
0.53 |
7.59 |
9.8m
@ 0.34g/t Au & 0.2% Cu |
1.5m
@ 0.67g/t Au & 0.41% Cu |
Ox |
La
Prieta |
0.2 |
|
CQDH-22-190 |
14.20 |
15.70 |
1.50 |
0.54 |
0.09 |
1.00 |
0.67 |
1.00 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-190 |
42.70 |
44.20 |
1.50 |
0.29 |
0.18 |
1.00 |
0.55 |
0.82 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-190 |
79.80 |
83.35 |
3.55 |
0.50 |
0.43 |
1.27 |
1.09 |
3.88 |
|
0.95m
@ 1.03g/t Au & 1.06% Cu |
Sx |
La
Prieta |
0.5 |
|
CQDH-22-190 |
136.50 |
149.25 |
12.75 |
0.31 |
0.14 |
1.00 |
0.51 |
6.52 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-190 |
191.20 |
193.60 |
2.40 |
0.39 |
0.23 |
1.00 |
0.72 |
1.73 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-190 |
247.00 |
248.00 |
1.00 |
0.63 |
0.14 |
2.00 |
0.82 |
0.82 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-190 |
311.30 |
317.70 |
6.40 |
0.47 |
0.05 |
1.00 |
0.54 |
3.46 |
|
|
Sx |
La
Prieta |
0.5 |
|
CQDH-22-190 |
432.00 |
433.50 |
1.50 |
0.57 |
0.00 |
1.00 |
0.57 |
0.85 |
|
|
Sx |
La
Prieta |
0.5 |
|
Oxides Criteria: Cut off grade 0.2g/t AuEq, minimum length 1.5m,
maximum consecutive internal waste 6m, if AuEq grade x length >
0.3 the composite will be added
Sulfides Criteria: Cut off grade 0.5g/t AuEq, minimum length
1.5m, maximum consecutive internal waste 6m, if AuEq grade x length
> 0.75 the composite will be added
|
Table 5: Cerro Quema Drill Collars
|
Drillhole |
Easting |
Northing |
Elevation |
Azimuth |
Dip |
Depth
(m) |
|
CQDH-22-186 |
556006 |
832267 |
470 |
0 |
-60 |
530 |
|
CQDH-22-187 |
557685 |
834491 |
557 |
270 |
-60 |
350 |
|
CQDH-22-188 |
556006 |
832267 |
470 |
180 |
-60 |
492 |
|
CQDH-22-189 |
557685 |
834491 |
557 |
90 |
-60 |
190 |
|
CQDH-22-190 |
556011 |
832108 |
467 |
180 |
-60 |
472 |
SOURCE Orla Mining Ltd.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/September2022/12/c3992.html
%CIK: 0001680056
For further information: Jason Simpson, President &
Chief Executive Officer; Andrew Bradbury, Vice President, Investor
Relations & Corporate Development, www.orlamining.com,
info@orlamining.com
CO: Orla Mining Ltd.
CNW 16:30e 12-SEP-22
This regulatory filing also includes additional resources:
ex991.pdf
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