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 January, 2023
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 ☒
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: January 31, 2023 |
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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 Continues to Intersect Wide, Higher-Grade Sulphide
Zones and Expose Deeper Potential at Camino Rojo, Mexico
4.66 g/t Au over 64.0 m (Sulphide Zone), 4.02 g/t Au & 1.5%
Zn over 22.9 m (Deep Potential), Regional Program Ramping Up
with Encouraging Results.
VANCOUVER, BC, Jan. 31, 2023 /CNW/ - Orla Mining Ltd. (TSX:
OLA) (NYSE: ORLA) ("Orla" or the "Company") is pleased to provide
an update on its 2022 exploration activities at Camino Rojo and
provide an overview of its 2023 exploration plans in Mexico.
Updates on Orla's exploration activities in Nevada, US and Panama
will be provided in the first quarter.
2022 Exploration Highlights: Camino Rojo (Mexico)
Camino Rojo Sulphides: The Sulphide drill program
continued to return higher-grade gold intercepts (>2 g/t) over
wide widths (>30 m). Notable results include:[1]
- Hole
CRSX22-09B: 4.66 g/t Au over 64.0 m
- Hole
CRSX22-09A 2.76 g/t Au over 79.0 m, incl. 3.22 g/t Au over
55.0m
- Hole
CRSX22-08C: 2.81 g/t Au over 70.0 m
- Hole
CRSX22-10A: 1.92 g/t Au over 87.0 m, incl. 3.14 g/t Au over
25.5 m and 1.74 g/t Au over 73.5m, incl. 2.61 g/t Au over
24.0 m
- Hole
CRSX22-09: 3.83 g/t Au over 40.5 m, incl. 9.28 g/t Au over
9.0 m and 6.94 g/t Au over 16.0 m
- Hole
CRSX22-08B: 3.78 g/t Au over 37.0 m
- Hole
CRSX22-10: 2.71 g/t Au over 49.5 m, incl. 6.80 g/t Au over
8.0 m
Camino Rojo Deep Potential: Drill results have shown
that gold mineralization extends deeper than the limit of the
current mineral resource. These deeper intercepts suggest gold
mineralization remains open at depth along and adjacent to
interpreted feeder-like structures for the currently defined
Camino Rojo deposit. Notable result include:1
- Hole
CRSX22-07: 4.02 g/t Au & 1.5% Zn over 22.9 m, incl. 56.7
g/t Au & 17.2% Zn over 0.6 m
Regional Exploration: Encouraging drill result on the
first diamond drill core hole completed outside the footprint of
the Camino Rojo mine. The Guanamero target area is located
approximately 7 km northeast of the Camino Rojo mine along the mine
structural trend. Notable results include:1
- Hole
CRED22-01: 0.54 g/t over 7.10 m, incl. 4.12 g/t over 0.7 m
(from 51.4 m) and 1.35 g/t over 2.35 m, incl. 5.59 g/t over
0.5 m (from 104.95 m)
"The 2022 infill drilling of the sulphide extension of the Camino
Rojo deposit has consistently generated exceptional gold
intersections enhancing future development opportunity scenarios
and potential to grow the resource at depth", stated Sylvain
Guerard, Orla's Senior Vice President, Exploration. "We are excited
to advance a full exploration pipeline in 2023 in an effort to
upgrade and expand reserves and resources and make new discoveries
on our large and under explored land package".
2022 Exploration: Camino Rojo (Mexico)
Exploration at Camino Rojo in 2022 focused on advancing the
understanding of the sulphide deposit (the "Sulphide Project" or
"Camino Rojo Sulphides") and testing priority regional targets to
make new satellite discoveries.
Near Mine Exploration Results
Drill results at Camino Rojo Sulphides continue to support
potential for underground development
Drilling continues to intercept wide zones of higher-grade gold
mineralization, and in conjunction with metallurgical results from
the 2021 drilling (see news release dated May 9, 2022),
supports the potential for underground development and a
standalone processing option for the Camino Rojo Sulphides. A large
part of the 2022 program included infilling the sulphide deposit
and improving the geological model to support potential underground
mine development scenario. A total of 9,174 metres was completed in
15 holes, with 5 holes previously reported (see news release
dated September 12, 2022 - Orla Mining Advances Exploration &
Growth Pipeline). The 15 holes completed in 2022 returned 32
significant mineralized drill intercepts with grade-by-thickness
factor greater than 50 g/t by metre Au (g/t * m), including 16
intercepts with grade-by-thickness factor greater than 100 g/t by
metre Au. Full drill results are available in the Appendix to
this news release and are available at www.orlamining.com.
The current mineral resource estimate for the Sulphide Project at
Camino Rojo consists of 74 koz of measured resource (3.358 million
tonnes at 0.69 g/t gold) and 7,221 koz of indicated resources
(255.445 million tonnes at 0.88 g/t gold) and has an effective date
of June 7, 2019.2

Figure 1: Camino Rojo Sulphides 2022 Drill Program Hole Location
(Plan View) (CNW Group/Orla Mining Ltd.)

Figure 2: Camino Rojo Sulphides 2022 Drill Program Hole Location
(Long Section) (CNW Group/Orla Mining Ltd.)

Figure 3: Camino Rojo Sulphides 2022 Results (Cross Section, Hole
CRSX22-08) (CNW Group/Orla Mining Ltd.)
Vein domains constraining higher grade gold in sulphide
deposit
The 2022 sulphide drill program has helped define areas of high
vein concentrations ("vein domains") which coincide with higher
grade (>2 g/t) gold mineralization. The vein domains are
important geological controls on gold mineralization, constraining
the distribution and continuity of higher-grade gold mineralization
within the sulphide deposit. Improved confidence in geological
controls will strengthen future mineral resource estimations.
Vein domains have been defined by combining recent oriented diamond
drill core data and approximately 70,000 m of historical vein
density and orientation data within the main zone of potassic
alteration (Kp). This work has resulted in the definition of three
steep northwest and five shallow south-southwest dipping vein
domains (Figure 4). High grade gold (>10 g/t Au) appears to be
concentrated at the intersection of these steep and shallow dipping
domains.
Figure 4: Camino Rojo Sulphides 2022 Program Vein Domains (Cross
Section, Hole 7)
Potential new oxide mineralization outside current pit
boundaries
Hole CRSX22-05, drilled as part of the 2022 sulphide drill program,
intersected a mix of oxide and transitional material on the edge of
the oxide open pit along the dike structure with mineralized
intersections of 1.95 g/t over 61.2 m and 1.03 g/t over
25.3 m (see news release dated September 12, 2022 - Orla
Mining Advances Exploration & Growth Pipeline). This
positive intersection triggered follow-up drilling to further
assess potential oxide pit extension over this area. Two holes were
drilled in 2022 with CROX22-01, returning 1.10 g/t Au over 136.5
m[3] and CROX22-02 returning 0.70 g/t Au over 290 m
including 0.97 g/t Au over 147.5 m3. Both holes
intercepted the extension of the mineralization and associated
oxidation that was intercepted in hole CRSX22-05, but within the
current feasibility pit. Results so far indicate that mineralizing
structures also act as pathways for deep oxidation beyond the
current pit boundary. Further drilling is planned in 2023 to test
for zones of oxidized mineralization that could potentially allow
for local expansion of the oxide pit.
Deeper intersections suggest deep potential for extension of
Camino Rojo Sulphides
Select holes from the recently completed 2022 sulphide drill
program were extended to test the down plunge continuity of gold
mineralization along the Dike Zone. These drill holes have returned
encouraging and highly significant results, such as 4.02 g/t Au
over 22.9 m. Compilation of historical drill data has also
confirmed high-grade gold intercepts over significant widths with a
similar style of mineralization elsewhere below the current extents
of the Camino Rojo resource estimation model.
Most of the gold mineralization at Camino Rojo has been defined in
the Caracol Formation where auriferous veins are mostly constrained
to a broad envelope of potassic alteration (Kp). Recent and
compiled historical drilling indicates gold mineralization extends
deeper into the underlying Indidura and Cuesta del Cura formations
(and potentially deeper into other underlying units) along the Dike
Zone and Breccia Fault Zone, suggesting these faults may be
feeder-like structures for the Camino Rojo deposit. This deeper
gold mineralization is hosted by skarn and calc-silicate alteration
associated with manto-type mineralization with semi-massive to
massive sulphides replacing bedding.
2022 notable results hosted in Indidura or Cuesta del Cura
formations:
- Hole
CRSX22-07: 4.02 g/t Au over 22.9 m, incl. 9.30 g/t Au over 6.1
m
- Hole
CRSX22-08B: 1.28 g/t Au over 24.6 m
- Hole
CRSX22-08B: 1.33 g/t Au over 17.2 m
- Hole
CRSX22-08C: 2.50 g/t Au over 9.1 m
- Hole
CRSX22-08C: 1.81 g/t Au over 19.4 m, incl. 2.51 g/t Au over 9.0
m
Selected historical4 results below Caracol Formation in
Indidura or Cuesta del Cura Formations:
- Hole
CR12-366D: 4.04 g/t Au over 46.5 m, incl. 6.26 g/t Au over 27.0
m
- Hole
CR13-507DB: 3.08 g/t Au over 55.5 m, incl 5.67 g/t Au over 22.5
m
- Hole
CR13-455D: 6.12 g/t Au over 21.0 m, incl 18.75 g/t Au over 6.0
m
- Hole
CR13-454D: 2.11 g/t Au over 51.0 m, incl 6.72 g/t Au over 4.5
m
- Hole
CR13-453D: 3.62 g/t Au over 27.0 m
- Hole
CR14-597DG: 3.68 g/t Au over 25.5 m incl 11.49 g/t Au over 6.0
m
Figure 5: Camino Rojo Sulphides Deep Potential 2022 Results (CNW
Group/Orla Mining Ltd.)

Figure 6: Camino Rojo Sulphides Deep Potential (Schematic Cross
Section) (CNW Group/Orla Mining Ltd.)
Regional Exploration Results
Orla's first diamond drill core hole outside the Camino Rojo
deposit returned 0.54 g/t Au over 7.10 m and 1.35 g/t Au over
2.35 m at the Guanamero target. Prior to this drill hole,
meaningful gold mineralization had been restricted to the footprint
of the Camino Rojo Deposit. These new regional exploration results,
combined with strong exploration markers are a very encouraging
step towards making a regional discovery. The positive exploration
markers for Guanamero include the presence of gold-bearing mafic
dikes, alteration and rock types similar to Camino Rojo deep
potential target, as well as the Guanamero target being located on
an extension of the mine trend.
Early-stage exploration targets were tested with reverse
circulation ("RC") drilling along the Camino Rojo Mine trend as
well as to the south of the mine. One core hole (CRED22-01) was
drilled into an IP anomaly at the Guanamero target area,
approximately 7 km to the northeast of the mine. The Guanamero
target area is defined by the northeast extension of diorite dikes
along the regional structure hosting the Camino Rojo Mine, the
presence of a large high magnetic signature (1 km2) and
anomalous to significant results from Orla's wide-spaced 2021 RAB
drill program (see news release dated March 14, 2022). Drill
hole CRED22-01 intersected geology similar to that encountered
in the deep potential at the Camino Rojo Mine: altered diorite and
hornblende porphyry diorite dikes with calc-silicate to propylitic
altered Cuesta del Cura, La Peña, and Cupido formations. Trace to
2% disseminated and fine sulphide (pyrite, pyrrhotite, sphalerite,
magnetite) veinlets, stringers and breccia zones were intercepted
throughout the length of the hole. Anomalous to significant gold
results, as listed below, are associated with zones of breccia and
sulphide dissemination and veinlets. Follow-up drilling will be
performed in early 2023.
-
0.54 g/t over 7.10m, incl. 4.12 g/t over 0.7m (from 51.4
m)
- 0.39
g/t over 5.50 m, incl. 1.02 g/t over 1.5 m (from 74.5
m)
-
1.35 g/t over 2.35 m, incl. 3.83 g/t over 0.8 m (from 104.95
m)
- 0.24
g/t over 5.65 m, incl. 1.42 g/t over 0.6m (from 116.9
m)
- 0.44
g/t over 3.0 m (from 137.5 m)
- 0.20
g/t over 4.3 m (from 151.0 m)
- 0.32
g/t over 9.05 m (from 169.95 m)
- 0.11
g/t over 17.5 m (from 279.5 m)
-
2.17 g/t over 1.20 m (from 398.3 m)
-
0.63 g/t over 1.5 m (from 571.5 m)
Composites for the regional exploration drilling were calculated
using 0.1 g/t Au cut-off grade and maximum 6 metres consecutive
waste.

Figure 7: Camino Rojo Regional Exploration Program Guanamero
Results (Hole 1) (CNW Group/Orla Mining Ltd.)
Figure 8: Guanamero Drill Results (Hole 1) (CNW Group/Orla Mining
Ltd.)
2023 Exploration Plans & Strategy: Camino Rojo
(Mexico)
Mexico
Exploration 2023 |
Program |
Drilling
Planned |
Spend |
Camino
Rojo Layback Drilling (capitalized) |
Infill on oxide mine
layback area
|
3,000 m
DD |
$2m |
Camino
Rojo Sulphides Drilling |
Infilling sulphides
and other near-mine drilling
|
34,000 m DD sulphides
(20% deep extension)
6,500 m DD (oxides)
|
$16m |
Camino
Rojo Regional Exploration |
Target drill testing
and target definition
|
15,000-20,000 m RC
2,000-5,000 m DD
+Geophysical & geochemical surveys
|
$4m |
Total
Mexico Exploration |
|
|
$22m |
Near Mine Exploration
Camino Rojo layback reserve drilling
A 3,000 metre, 22-hole drill program to confirm and delineate
mineralization located in the oxide pit layback and allow for
potential update of mineral resource and reserve estimates will be
completed in 2023. This program will seek to define additional
oxide reserves at the Camino Rojo Mine following confirmatory core
drilling on the Fresnillo Plc ("Fresnillo") property, located
immediately north and adjacent of the Camino Rojo oxide mine open
pit. While historical drilling indicates that mineralization
continues across the property boundary onto the Fresnillo layback
area, no ounces from this area are currently included in the Camino
Rojo mineral reserve estimate.

Figure 9: Camino Rojo Oxide Layback Drilling Plan (Cross Section)
(CNW Group/Orla Mining Ltd.)
Camino Rojo Sulphides drilling continuation
A 34,000-metre, 57 hole follow-up drill program will continue to
infill the Camino Rojo Sulphides in 2023. 20% of the holes will
extend to test the deep potential of the deposit. In addition,
6,500m will be drilled on the extensions of the Camino Rojo oxide
deposit to update and expand resources and reserves.
Based on the positive results encountered in the 2021 and 2022
programs, more closely spaced, south-oriented drilling will be
required to fully capture the extent of a potential underground
resource. To date, 15,253 metres of directional drilling has been
completed. This drilling has continued to inform Orla's perspective
on the development approach to the deposit. The 2023 drilling is
expected to strengthen the confidence for the development of a
Preliminary Economic Assessment ("PEA") that contemplates
underground mining by infilling the higher-grade (>2 g/t)
portions of the deposit with 50 metre spacing of South-oriented
drill holes. Overall drill spacing at the end of this next phase,
including historical north-oriented drill holes, will be 25-30
metres. Upon the completion of the 2023 additional south oriented
directional drilling and test work programs, a PEA is expected to
be completed based on the optimal development scenario for
Orla.
Regional Exploration
Approximately 15,000-20,000 metres of RC drilling and 2,000-5,000
metres of core drilling is planned for regional exploration in
2023. Regional exploration will consist of drill testing multiple
targets outside the Camino Rojo deposit including priority targets
along the northeast-southwest mine trend, including targets
associated with recently defined IP anomalies. Priority targets
such as Guanamero and Monterilla at the north-east and CR SW
immediately to the south-west of the Camino Rojo deposit were only
partially tested in 2022 and will be drill tested in 2023.
Geophysical and geochemical surveys are also planned for 2023 to
keep defining new targets.
Qualified Persons 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 property, Mr. Guerard has visited the property 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
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 a
four-acid digestion with ICP-AES finish (ME-ICP61) method at ALS
Laboratories in Canada. If samples were returned with gold values
in excess of 10 ppm or base metal values in excess of 1% by ICP
analysis, samples are re-run with gold (Au-GRA21) by fire assay and
gravimetric finish or base metal by (OG62) four acid overlimit
methods. Drill program design, Quality Assurance/Quality Control
and interpretation of results were 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.
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, 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, is available on SEDAR and EDGAR
under the Company'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 potential
mineralization at Camino Rojo based on the 2022 drill program,
including the potential for local expansion of the oxide pit at
Camino Rojo, the deep potential of the Camino Rojo Sulphides and
the potential for additional regional discoveries; and the
Company's 2023 drill program, including the expected expenditures,
timing, benefits, and results thereof. 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; 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 |
CRSX22-07 |
439.80 |
441.30 |
1.50 |
1.01 |
1.32 |
39.3 |
1.98 |
1.33 |
|
|
SX |
CRSX22-07 |
454.80 |
456.30 |
1.50 |
1.01 |
3.47 |
49.0 |
5.21 |
3.51 |
1.5m @
3.47g/t Au |
|
SX |
CRSX22-07 |
465.30 |
544.80 |
79.50 |
53.59 |
1.46 |
5.5 |
115.85 |
78.09 |
15m @
2.77g/t Au
1.5m
@ 2.03g/t Au
1.5m
@ 2.91g/t Au
4.5m
@ 2.88g/t Au
3m @
2.28g/t Au
1.5m
@ 2.41g/t Au
3m @
3.74g/t Au |
|
SX |
CRSX22-07 |
556.80 |
561.30 |
4.50 |
3.04 |
1.55 |
4.3 |
6.97 |
4.71 |
|
|
SX |
CRSX22-07 |
567.30 |
607.80 |
40.50 |
27.35 |
1.40 |
4.0 |
56.54 |
38.19 |
1.5m @
5.12g/t Au
9m @
2.72g/t Au |
|
SX |
CRSX22-07 |
619.80 |
627.30 |
7.50 |
5.09 |
1.82 |
1.4 |
13.62 |
9.25 |
1.5m @
5.67g/t Au |
|
SX |
CRSX22-07 |
646.80 |
648.30 |
1.50 |
1.02 |
2.29 |
8.4 |
3.44 |
2.33 |
1.5m @
2.29g/t Au |
|
SX |
CRSX22-07 |
663.30 |
664.80 |
1.50 |
1.02 |
1.16 |
6.5 |
1.74 |
1.18 |
|
|
SX |
CRSX22-07 |
673.50 |
675.00 |
1.50 |
1.02 |
1.19 |
7.5 |
1.78 |
1.20 |
|
|
SX |
CRSX22-07 |
681.00 |
682.50 |
1.50 |
1.01 |
1.55 |
5.2 |
2.33 |
1.57 |
|
|
SX |
CRSX22-07 |
685.50 |
687.00 |
1.50 |
1.01 |
1.20 |
37.5 |
1.79 |
1.21 |
|
|
SX |
CRSX22-07 |
777.60 |
800.50 |
22.90 |
15.43 |
4.02 |
12.2 |
92.03 |
62.01 |
6.05m @
9.3g/t Au
9.1m
@ 3.19g/t Au |
0.6m @
56.7g/t Au
1m @
16.75g/t Au |
SX |
CRSX22-07 |
807.00 |
808.50 |
1.50 |
1.01 |
1.28 |
1.0 |
1.92 |
1.29 |
|
|
|
CRSX22-07 |
813.00 |
814.50 |
1.50 |
1.00 |
1.37 |
11.0 |
2.05 |
1.37 |
|
|
|
CRSX22-07 |
819.00 |
820.50 |
1.50 |
1.00 |
1.46 |
9.1 |
2.18 |
1.46 |
|
|
|
CRSX22-07 |
831.00 |
834.00 |
3.00 |
2.00 |
1.32 |
2.4 |
3.97 |
2.65 |
|
|
|
CRSX22-07 |
888.00 |
890.20 |
2.20 |
1.46 |
2.86 |
8.2 |
6.29 |
4.17 |
1m @
4.9g/t Au |
|
|
CRSX22-07C |
295.90 |
297.40 |
1.50 |
1.02 |
1.52 |
5.5 |
2.28 |
1.56 |
|
|
SX |
CRSX22-07C |
304.90 |
306.40 |
1.50 |
1.02 |
1.08 |
1.5 |
1.61 |
1.10 |
|
|
SX |
CRSX22-07C |
307.90 |
316.50 |
8.60 |
5.87 |
1.01 |
8.3 |
8.70 |
5.93 |
1.8m @
2.02g/t Au |
|
SX |
CRSX22-07C |
338.35 |
340.15 |
1.80 |
1.23 |
1.16 |
5.4 |
2.09 |
1.43 |
|
|
SX |
CRSX22-07C |
435.80 |
441.60 |
5.80 |
4.52 |
2.03 |
48.3 |
11.76 |
9.15 |
4.3m @
2.29g/t Au |
|
SX |
CRSX22-07C |
455.10 |
477.60 |
22.50 |
17.39 |
2.64 |
11.3 |
59.39 |
45.91 |
12m @
4.37g/t Au |
1.5m @
12.85g/t Au |
SX |
CRSX22-07C |
496.90 |
525.40 |
28.50 |
21.99 |
1.62 |
8.1 |
46.30 |
35.72 |
15m @
2.11g/t Au
1.5m
@ 2.56g/t Au |
|
SX |
CRSX22-07C |
534.40 |
535.90 |
1.50 |
1.16 |
1.54 |
6.9 |
2.31 |
1.78 |
|
|
SX |
CRSX22-07C |
540.40 |
541.90 |
1.50 |
1.16 |
1.18 |
2.3 |
1.77 |
1.37 |
|
|
SX |
CRSX22-07C |
559.90 |
562.90 |
3.00 |
2.31 |
3.20 |
4.3 |
9.59 |
7.39 |
1.5m @
4.6g/t Au |
|
SX |
CRSX22-07C |
569.70 |
572.50 |
2.80 |
2.15 |
4.55 |
20.1 |
12.74 |
9.79 |
2.8m @
4.55g/t Au |
|
SX |
CRSX22-07C |
580.00 |
585.00 |
5.00 |
3.83 |
1.62 |
6.3 |
8.08 |
6.19 |
1.5m @
3.21g/t Au |
|
SX |
CRSX22-07C |
610.00 |
614.05 |
4.05 |
3.12 |
1.61 |
1.3 |
6.54 |
5.03 |
1.5m @
3.19g/t Au |
|
SX |
CRSX22-07C |
636.15 |
637.65 |
1.50 |
1.15 |
1.22 |
19.5 |
1.82 |
1.40 |
|
|
SX |
CRSX22-07C |
645.15 |
664.50 |
19.35 |
14.85 |
2.23 |
21.8 |
43.20 |
33.15 |
1.5m @
9.87g/t Au
7.2m
@ 3.02g/t Au |
|
SX |
CRSX22-07C |
673.50 |
675.00 |
1.50 |
1.15 |
2.54 |
25.2 |
3.81 |
2.92 |
1.5m @
2.54g/t Au |
|
SX |
CRSX22-07C |
760.50 |
763.50 |
3.00 |
2.34 |
1.11 |
8.8 |
3.34 |
2.60 |
|
|
SX |
CRSX22-07C |
771.00 |
772.70 |
1.70 |
1.33 |
3.55 |
12.4 |
6.04 |
4.71 |
1.7m @
3.55g/t Au |
|
SX |
CRSX22-08 |
523.00 |
524.50 |
1.50 |
1.40 |
1.99 |
7.6 |
2.99 |
2.79 |
|
|
SX |
CRSX22-08 |
542.50 |
544.00 |
1.50 |
1.40 |
1.17 |
1.0 |
1.76 |
1.64 |
|
|
SX |
CRSX22-08 |
564.50 |
605.50 |
41.00 |
38.26 |
1.83 |
7.7 |
75.16 |
70.14 |
0.9m @
9.3g/t Au
9m @
2.77g/t Au
9m @
3.24g/t Au |
|
SX |
CRSX22-08 |
612.50 |
641.00 |
28.50 |
26.52 |
2.81 |
9.5 |
80.07 |
74.51 |
6m @
4.35g/t Au
5.45m
@ 6.22g/t Au
1.5m
@ 4.73g/t Au |
1.5m @
13.5g/t Au
1.5m
@ 15.3g/t Au |
612.5 -
619.3 SX
619.3
- 626.65
626.65 - 627.5
OX
627.5
- 636.4 TRSX
636.4
- 641 SX |
CRSX22-08 |
648.60 |
657.50 |
8.90 |
8.27 |
2.53 |
6.4 |
22.55 |
20.95 |
0.6m @
29.3g/t Au |
0.6m @
29.3g/t Au |
SX |
CRSX22-08 |
665.00 |
673.60 |
8.60 |
7.98 |
2.02 |
22.7 |
17.35 |
16.10 |
3.05m @
3.93g/t Au |
|
SX |
CRSX22-08 |
849.00 |
850.50 |
1.50 |
1.01 |
1.72 |
2.3 |
2.58 |
1.74 |
|
|
SX |
CRSX22-08 |
879.00 |
880.50 |
1.50 |
1.00 |
1.25 |
15.2 |
1.87 |
1.25 |
|
|
879 -
879.3 FR
879.3
- 880.5 TROL |
CRSX22-08 |
910.50 |
914.00 |
3.50 |
2.35 |
1.76 |
1.8 |
6.15 |
4.13 |
0.5m @
7.33g/t Au |
|
SX |
CRSX22-08B |
495.50 |
497.00 |
1.50 |
1.50 |
1.07 |
9.1 |
1.61 |
1.60 |
|
|
SX |
CRSX22-08B |
519.00 |
520.70 |
1.70 |
1.70 |
1.14 |
40.9 |
1.93 |
1.93 |
|
|
SX |
CRSX22-08B |
545.50 |
557.30 |
11.80 |
11.77 |
2.07 |
10.9 |
24.47 |
24.40 |
2m @
9.27g/t Au |
0.5m @
29.5g/t Au |
545.5 -
546.7 SX
546.7
- 557.3 TRSX |
CRSX22-08B |
568.50 |
605.45 |
36.95 |
36.83 |
3.78 |
14.7 |
139.68 |
139.22 |
35.75m
@ 3.86g/t Au |
1.5m @
21.7g/t Au
1.5m
@ 16g/t Au |
568.5 -
578.75 TRSX
578.75 - 579
TROL
579 -
580.5 TRSX
580.5
- 580.78 TROH
580.78 - 584.79
TRSX
584.79 - 586.39
TROL
586.39 - 599.42
TRSX
599.42 - 599.46
TROH
599.46 - 602
TROL
602 -
605.45 TROH |
CRSX22-08B |
611.50 |
645.50 |
34.00 |
33.87 |
2.70 |
4.5 |
91.83 |
91.47 |
1.5m @
9.88g/t Au
24m @
2.8g/t Au |
1.4m @
21g/t Au |
611.5 -
619.2 TROL
619.2
- 645.5 SX |
CRSX22-08B |
651.60 |
668.00 |
16.40 |
16.33 |
1.85 |
4.9 |
30.40 |
30.26 |
10.4m @
2.54g/t Au |
|
651.6 -
651.7 SX
651.7
- 654 TRSX
654 -
668 SX |
CRSX22-08B |
693.00 |
698.00 |
5.00 |
4.38 |
1.20 |
0.7 |
6.00 |
5.25 |
|
|
TRSX |
CRSX22-08B |
734.50 |
751.50 |
17.00 |
14.93 |
1.05 |
3.8 |
17.80 |
15.64 |
1.3m @
2.75g/t Au |
|
734.5 -
736.7 TROL
736.7
- 742.15 SX
742.15 -
748.4
748.4
- 751.5 TROL |
CRSX22-08B |
756.00 |
757.50 |
1.50 |
1.32 |
1.23 |
12.7 |
1.85 |
1.62 |
|
|
TRSX |
CRSX22-08B |
772.00 |
777.70 |
5.70 |
4.99 |
1.75 |
11.8 |
10.00 |
8.76 |
1m @
3.86g/t Au
1.7m
@ 2.17g/t Au |
|
TRSX |
CRSX22-08B |
785.00 |
786.50 |
1.50 |
1.31 |
2.06 |
17.0 |
3.09 |
2.70 |
1.5m @
2.06g/t Au |
|
TRSX |
CRSX22-08B |
806.00 |
830.60 |
24.60 |
21.49 |
1.28 |
9.6 |
31.44 |
27.46 |
4.5m @
3.01g/t Au |
|
SX |
CRSX22-08B |
858.80 |
876.00 |
17.20 |
14.97 |
1.33 |
17.8 |
22.87 |
19.90 |
1.5m @
4.92g/t Au |
|
SX |
CRSX22-08C |
534.00 |
535.50 |
1.50 |
1.48 |
4.03 |
3.8 |
6.05 |
5.97 |
1.5m @
4.03g/t Au |
|
SX |
CRSX22-08C |
550.00 |
559.50 |
9.50 |
9.37 |
2.64 |
8.6 |
25.12 |
24.78 |
9.5m @
2.64g/t Au |
|
SX |
CRSX22-08C |
568.50 |
585.00 |
16.50 |
16.26 |
2.32 |
19.3 |
38.34 |
37.79 |
1.5m @
6.3g/t Au
3m @
7.1g/t Au |
|
SX |
CRSX22-08C |
593.00 |
663.00 |
70.00 |
68.90 |
2.81 |
9.1 |
196.45 |
193.35 |
70m @
2.81g/t Au |
1.5m @
11.55g/t Au
1.5m
@ 14.05g/t Au |
593 -
595.6 TRSX
595.6
- 597.7 TROL
597.7
- 600.25 OX
600.25 - 602.4
TROL
602.4
- 607.4 TRSX
607.4
- 609 TROL
609 -
611.56 TRSX
611.56 - 613.13
SX
613.13 - 613.65
TROL
613.65 - 615.65
TRSX
615.65 - 617.8
TROL
617.8
- 619.9 SX
619.9
- 627.7 TROL
627.7
- 663 SX |
CRSX22-08C |
673.50 |
679.50 |
6.00 |
4.94 |
2.88 |
4.2 |
17.29 |
14.25 |
4.5m @
3.35g/t Au |
|
SX |
CRSX22-08C |
690.00 |
702.00 |
12.00 |
9.91 |
1.32 |
2.0 |
15.79 |
13.03 |
1.5m @
3g/t Au
1.5m
@ 2.77g/t Au |
|
TRSX |
CRSX22-08C |
715.00 |
723.00 |
8.00 |
6.61 |
1.21 |
5.7 |
9.69 |
8.01 |
0.85m @
4.13g/t Au |
|
715 -
720.35 TRSX
720.35 - 723
SX |
CRSX22-08C |
730.50 |
740.50 |
10.00 |
8.27 |
1.11 |
3.8 |
11.10 |
9.17 |
1.5m @
2.88g/t Au
1.5m
@ 2.88g/t Au |
|
730.5 -
736.05 SX
736.05 - 740.5
TRSX |
CRSX22-08C |
784.00 |
785.50 |
1.50 |
1.25 |
1.94 |
11.7 |
2.90 |
2.41 |
|
|
SX |
CRSX22-08C |
800.50 |
802.00 |
1.50 |
1.25 |
4.42 |
40.8 |
6.63 |
5.51 |
1.5m @
4.42g/t Au |
|
SX |
CRSX22-08C |
849.95 |
852.00 |
2.05 |
1.70 |
2.14 |
10.0 |
4.39 |
3.65 |
2.05m @
2.14g/t Au |
|
SX |
CRSX22-08C |
858.40 |
867.50 |
9.10 |
7.56 |
2.50 |
8.2 |
22.73 |
18.89 |
7.6m @
2.79g/t Au |
|
SX |
CRSX22-08C |
876.50 |
878.00 |
1.50 |
1.25 |
2.07 |
1.8 |
3.11 |
2.58 |
1.5m @
2.07g/t Au |
|
SX |
CRSX22-08C |
885.00 |
886.50 |
1.50 |
1.25 |
2.35 |
11.9 |
3.53 |
2.93 |
|
|
SX |
CRSX22-08C |
908.50 |
927.85 |
19.35 |
16.08 |
1.81 |
9.2 |
34.96 |
29.06 |
9m @
2.51g/t Au
2.6m
@ 2.75g/t Au |
|
SX |
CRSX22-09 |
489.50 |
491.00 |
1.50 |
1.34 |
2.23 |
5.3 |
3.35 |
3.00 |
1.5m @
2.23g/t Au |
|
SX |
CRSX22-09 |
522.00 |
538.00 |
16.00 |
13.15 |
6.94 |
36.5 |
111.10 |
91.30 |
14.5m @
7.48g/t Au |
1.5m @
17.7g/t Au
1.5m
@ 11.8g/t Au
2m @
17.77g/t Au |
SX |
CRSX22-09 |
547.00 |
587.50 |
40.50 |
36.23 |
3.83 |
12.1 |
154.96 |
138.63 |
7.5m @
6.74g/t Au
9m @
9.28g/t Au |
1.5m @
26.4g/t Au
1.2m
@ 29g/t Au
1.5m
@ 13.1g/t Au |
547 -
567.7 TRSX
567.7
- 582.8 SX
582.8
- 587.5 TRSX |
CRSX22-09 |
595.50 |
606.00 |
10.50 |
9.39 |
1.08 |
4.4 |
11.39 |
10.18 |
1.5m @
2.88g/t Au
1.5m
@ 2.32g/t Au |
|
SX |
CRSX22-09 |
609.00 |
631.00 |
22.00 |
18.09 |
1.01 |
1.5 |
22.32 |
18.35 |
1.5m @
3.33g/t Au
1.2m
@ 3.54g/t Au |
|
SX |
CRSX22-09 |
656.50 |
671.00 |
14.50 |
12.95 |
1.90 |
4.2 |
27.53 |
24.59 |
7m @
3.17g/t Au |
|
SX |
CRSX22-09 |
678.50 |
679.50 |
1.00 |
0.89 |
1.85 |
0.7 |
1.85 |
1.65 |
|
|
SX |
CRSX22-09A |
467.40 |
468.40 |
1.00 |
0.99 |
5.78 |
16.6 |
5.78 |
5.70 |
1m @
5.78g/t Au |
|
FR |
CRSX22-09A |
482.00 |
485.00 |
3.00 |
2.96 |
1.08 |
20.2 |
3.23 |
3.18 |
|
|
482 -
482.6 FR
482.6
- 485 SX |
CRSX22-09A |
492.50 |
571.50 |
79.00 |
77.87 |
2.76 |
9.3 |
218.25 |
215.14 |
55m @
3.22g/t Au
1.5m
@ 5.71g/t Au
3m @
4.44g/t Au |
1.5m @
10.1g/t Au |
SX |
CRSX22-09A |
579.00 |
591.00 |
12.00 |
11.81 |
1.32 |
3.5 |
15.86 |
15.61 |
4.5m @
2.3g/t Au |
|
SX |
CRSX22-09A |
600.00 |
605.50 |
5.50 |
5.41 |
2.53 |
5.2 |
13.91 |
13.69 |
1.5m @
6.31g/t Au |
|
SX |
CRSX22-09A |
612.50 |
614.00 |
1.50 |
1.48 |
3.18 |
3.5 |
4.77 |
4.69 |
1.5m @
3.18g/t Au |
|
SX |
CRSX22-09A |
620.50 |
624.50 |
4.00 |
3.94 |
1.37 |
5.2 |
5.46 |
5.38 |
|
|
620.5 -
621.6 SX
621.6
- 624.5 TRSX |
CRSX22-09A |
629.70 |
631.00 |
1.30 |
1.07 |
2.32 |
2.7 |
3.02 |
2.48 |
1.3m @
2.32g/t Au |
|
OX |
CRSX22-09A |
648.00 |
656.50 |
8.50 |
6.99 |
1.22 |
5.8 |
10.40 |
8.55 |
2.5m @
2.94g/t Au |
|
648 -
651.5 TRSX
651.5
- 656.5 SX |
CRSX22-09A |
671.50 |
682.00 |
10.50 |
8.64 |
1.19 |
2.9 |
12.47 |
10.27 |
1.5m @
4.37g/t Au |
|
SX |
CRSX22-09A |
695.50 |
748.00 |
52.50 |
43.22 |
1.16 |
8.9 |
60.98 |
50.19 |
1.5m @
4.39g/t Au
1.5m
@ 2.36g/t Au
1.5m
@ 2.1g/t Au
10.5m
@ 2.02g/t Au |
|
695.5 -
722 SX
722 -
723.7 TROL
723.7
- 748 SX |
CRSX22-09A |
760.40 |
801.50 |
41.10 |
34.04 |
1.93 |
15.1 |
79.14 |
65.55 |
3m @
3.31g/t Au
11m @
4.06g/t Au |
1.05m @
25.6g/t Au |
SX |
CRSX22-09B |
460.50 |
462.00 |
1.50 |
1.43 |
1.40 |
15.8 |
2.09 |
2.00 |
|
|
SX |
CRSX22-09B |
481.50 |
483.00 |
1.50 |
1.44 |
2.13 |
24.7 |
3.20 |
3.06 |
1.5m @
2.13g/t Au |
|
SX |
CRSX22-09B |
499.50 |
563.45 |
63.95 |
61.07 |
4.66 |
17.2 |
298.22 |
284.78 |
57.55m
@ 5.08g/t Au |
0.85m @
10g/t Au
0.75m
@ 35.2g/t Au
1.2m
@ 13.75g/t Au
1.6m
@ 10.85g/t Au
0.75m
@ 73.6g/t Au
1.5m
@ 16.5g/t Au
1.5m
@ 19.7g/t Au |
499.5 -
533.85 SX
533.85 - 553.9
TRSX
553.9
- 563.45 SX |
CRSX22-09B |
571.00 |
592.20 |
21.20 |
20.21 |
2.43 |
7.2 |
51.55 |
49.14 |
18.2m @
2.64g/t Au |
|
571 -
582.1 TRSX
582.1
- 587.5 SX
587.5
- 592.2 |
CRSX22-09B |
600.00 |
615.50 |
15.50 |
14.78 |
1.26 |
1.7 |
19.50 |
18.59 |
1.5m @
2.07g/t Au
0.6m
@ 11.9g/t Au |
0.6m @
11.9g/t Au |
600 -
606.35
606.35 - 615.5
SX |
CRSX22-09B |
646.65 |
652.75 |
6.10 |
4.49 |
3.05 |
7.9 |
18.61 |
13.70 |
4.05m @
4.01g/t Au |
0.8m @
15.05g/t Au |
SX |
CRSX22-09B |
659.80 |
660.50 |
0.70 |
0.51 |
8.04 |
8.3 |
5.63 |
4.14 |
0.7m @
8.04g/t Au |
|
SX |
CRSX22-09B |
671.00 |
684.50 |
13.50 |
9.91 |
1.21 |
3.5 |
16.34 |
11.99 |
3m @
2.51g/t Au
1.5m
@ 2.14g/t Au |
|
671 -
671.1 SX |
CRSX22-09B |
708.50 |
730.90 |
22.40 |
16.37 |
1.18 |
7.9 |
26.40 |
19.30 |
0.7m @
8.8g/t Au
1.5m
@ 3.13g/t Au |
|
|
CRSX22-09B |
747.70 |
749.20 |
1.50 |
1.09 |
1.68 |
23.4 |
2.51 |
1.83 |
|
|
|
CRSX22-10 |
368.00 |
369.00 |
1.00 |
0.81 |
1.64 |
4.4 |
1.64 |
1.32 |
|
|
FR |
CRSX22-10 |
370.50 |
372.00 |
1.50 |
1.21 |
1.26 |
12.2 |
1.88 |
1.52 |
|
|
FR |
CRSX22-10 |
418.50 |
420.00 |
1.50 |
1.21 |
1.10 |
3.4 |
1.65 |
1.33 |
|
|
SX |
CRSX22-10 |
456.00 |
462.00 |
6.00 |
4.82 |
2.09 |
26.3 |
12.55 |
10.08 |
1.5m @
5.54g/t Au |
|
SX |
CRSX22-10 |
483.00 |
484.50 |
1.50 |
1.20 |
1.19 |
6.4 |
1.78 |
1.43 |
|
|
SX |
CRSX22-10 |
491.00 |
501.50 |
10.50 |
8.43 |
3.93 |
14.3 |
41.29 |
33.15 |
4.5m @
8.48g/t Au |
1.5m @
18.8g/t Au |
SX |
CRSX22-10 |
515.00 |
524.00 |
9.00 |
7.22 |
1.26 |
10.5 |
11.32 |
9.09 |
1.5m @
3.47g/t Au |
|
SX |
CRSX22-10 |
531.50 |
581.00 |
49.50 |
39.70 |
2.71 |
6.6 |
134.37 |
107.77 |
1.5m @
2.86g/t Au
17.5m
@ 3.21g/t Au
8m @
6.8g/t Au
3m @
2.06g/t Au |
1.5m @
22.7g/t Au
2.7m
@ 17.3g/t Au |
SX |
CRSX22-10 |
588.50 |
603.50 |
15.00 |
12.02 |
1.20 |
5.2 |
18.00 |
14.42 |
1.5m @
2.32g/t Au
1.5m
@ 4.81g/t Au |
|
SX |
CRSX22-10 |
618.50 |
620.00 |
1.50 |
1.20 |
10.30 |
7.1 |
15.45 |
12.38 |
1.5m @
10.3g/t Au |
1.5m @
10.3g/t Au |
SX |
CRSX22-10 |
626.60 |
641.50 |
14.90 |
11.93 |
5.31 |
14.9 |
79.19 |
63.38 |
8.9m @
8.34g/t Au |
1.4m @
12.15g/t Au
2.6m
@ 18.89g/t Au |
SX |
CRSX22-10 |
652.00 |
655.00 |
3.00 |
2.40 |
1.97 |
4.1 |
5.92 |
4.73 |
1.5m @
2.46g/t Au |
|
SX |
CRSX22-10 |
664.00 |
703.00 |
39.00 |
31.05 |
1.29 |
9.2 |
50.39 |
40.12 |
6m @
2.43g/t Au
1.5m
@ 2.54g/t Au
1.5m
@ 4.73g/t Au
1.5m
@ 3.77g/t Au |
|
SX |
CRSX22-10 |
712.00 |
715.30 |
3.30 |
2.62 |
3.32 |
35.0 |
10.95 |
8.70 |
1.8m @
4.9g/t Au |
|
SX |
CRSX22-10 |
725.50 |
732.50 |
7.00 |
5.56 |
1.86 |
20.4 |
13.03 |
10.34 |
5.5m @
2.08g/t Au |
|
SX |
CRSX22-10 |
739.50 |
741.00 |
1.50 |
1.19 |
1.89 |
14.9 |
2.84 |
2.25 |
|
|
SX |
CRSX22-10 |
747.00 |
748.50 |
1.50 |
1.19 |
1.32 |
8.2 |
1.98 |
1.57 |
|
|
SX |
CRSX22-10 |
762.00 |
763.50 |
1.50 |
1.19 |
4.57 |
26.1 |
6.86 |
5.44 |
1.5m @
4.57g/t Au |
|
SX |
CRSX22-10 |
775.50 |
777.00 |
1.50 |
1.22 |
1.09 |
10.7 |
1.64 |
1.32 |
|
|
SX |
CRSX22-10A |
456.50 |
459.50 |
3.00 |
2.72 |
1.87 |
12.3 |
5.61 |
5.09 |
1.5m @
2.65g/t Au |
|
SX |
CRSX22-10A |
468.50 |
470.00 |
1.50 |
1.36 |
2.00 |
13.4 |
3.00 |
2.72 |
1.5m @
2g/t Au |
|
SX |
CRSX22-10A |
492.50 |
506.00 |
13.50 |
12.23 |
3.10 |
33.8 |
41.84 |
37.89 |
10.5m @
3.55g/t Au |
|
SX |
CRSX22-10A |
524.00 |
545.00 |
21.00 |
18.96 |
3.13 |
6.8 |
65.71 |
59.33 |
10.5m @
5.66g/t Au |
1.5m @
24g/t Au |
SX |
CRSX22-10A |
555.50 |
642.50 |
87.00 |
78.32 |
1.92 |
7.8 |
167.35 |
150.65 |
1.5m @
3.07g/t Au
25.5m
@ 3.14g/t Au
9m @
2.99g/t Au
1.5m
@ 5.7g/t Au
1.5m
@ 2.94g/t Au
9m @
2.03g/t Au |
1.5m @
10.5g/t Au |
SX |
CRSX22-10A |
657.50 |
665.00 |
7.50 |
6.73 |
2.53 |
21.9 |
18.98 |
17.04 |
1.5m @
8.87g/t Au |
|
SX |
CRSX22-10A |
678.50 |
680.00 |
1.50 |
1.35 |
1.83 |
22.9 |
2.75 |
2.46 |
|
|
SX |
CRSX22-10A |
689.00 |
762.50 |
73.50 |
65.86 |
1.74 |
10.6 |
127.80 |
114.52 |
4.5m @
2.08g/t Au
24m @
2.61g/t Au
4.5m
@ 2.25g/t Au
1.5m
@ 2.4g/t Au
7.5m
@ 2.23g/t Au |
|
SX |
CRSX22-10A |
774.50 |
780.50 |
6.00 |
5.36 |
5.61 |
16.4 |
33.68 |
30.11 |
4.5m @
6.85g/t Au |
1.5m @
11.95g/t Au |
SX |
CRSX22-10A |
788.00 |
789.00 |
1.00 |
0.90 |
1.61 |
13.8 |
1.61 |
1.45 |
|
|
SX |
CRSX22-10B |
464.50 |
466.00 |
1.50 |
1.38 |
1.24 |
45.8 |
1.85 |
1.71 |
|
|
SX |
CRSX22-10B |
487.50 |
489.00 |
1.50 |
1.38 |
4.93 |
68.6 |
7.40 |
6.81 |
1.5m @
4.93g/t Au |
|
SX |
CRSX22-10B |
496.50 |
504.00 |
7.50 |
6.91 |
3.29 |
23.6 |
24.69 |
22.75 |
3m @
6.58g/t Au |
|
SX |
CRSX22-10B |
516.00 |
517.50 |
1.50 |
1.38 |
12.20 |
95.1 |
18.30 |
16.86 |
1.5m @
12.2g/t Au |
1.5m @
12.2g/t Au |
SX |
CRSX22-10B |
526.50 |
573.00 |
46.50 |
42.32 |
1.46 |
4.6 |
67.82 |
61.73 |
1.5m @
2.15g/t Au
6m @
3.38g/t Au
9m @
2.29g/t Au |
|
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 Oxide Pit Composite Drill Results
HOLE-ID |
From
(m) |
To
(m) |
Core
Length
(m) |
Au
g/t |
Ag
g/t |
Au
GXM |
Including
0.5g/t Au
COG |
Including
1g/t Au
COG |
Including
2g/t Au
COG |
CROX22-01 |
21.50 |
71.50 |
50.00 |
0.99 |
11.5 |
49.48 |
1.5m @ 1g/t Au
39.5m
@ 1.18g/t Au |
1.5m @ 1.58g/t Au
25m @
1.56g/t Au |
1.6m
@ 2.93g/t Au
6.05m
@ 2.37g/t Au
1.5m
@ 2.03g/t Au
1.3m
@ 6.18g/t Au |
CROX22-01 |
79.00 |
84.40 |
5.40 |
1.31 |
4.3 |
7.07 |
5.4m @ 1.31g/t Au |
1.5m @ 4.1g/t Au |
1.5m
@ 4.1g/t Au |
CROX22-01 |
98.70 |
133.50 |
34.80 |
0.42 |
13.3 |
14.63 |
1.3m @ 0.64g/t Au
1.5m
@ 0.64g/t Au
1.5m
@ 0.75g/t Au
1.5m
@ 2.34g/t Au
2.9m
@ 0.94g/t Au |
1.5m @ 2.34g/t Au
1.4m
@ 1.2g/t Au |
1.5m
@ 2.34g/t Au |
CROX22-01 |
144.50 |
281.00 |
136.50 |
1.10 |
17.5 |
149.55 |
1.5m @ 0.62g/t Au
112.2m @ 1.29g/t
Au |
5.5m @ 1.6g/t Au
1.5m
@ 1.83g/t Au
3m @
4.9g/t Au
56.5m
@ 1.64g/t Au
4.5m
@ 1.41g/t Au |
1.4m
@ 3.11g/t Au
1.5m
@ 7.82g/t Au
21.5m
@ 2.06g/t Au
1.5m
@ 2.08g/t Au
4.3m
@ 2.06g/t Au
1.5m
@ 2.02g/t Au
1.5m
@ 2.57g/t Au |
CROX22-02 |
0.00 |
290.00 |
290.00 |
0.70 |
10.6 |
203.01 |
3.6m @ 0.54g/t Au
1.5m
@ 0.66g/t Au
1.5m
@ 1.44g/t Au
147.5m @ 0.97g/t
Au
10.65m @ 0.86g/t
Au
25.95m @ 0.59g/t
Au
4.5m
@ 0.92g/t Au
3.2m
@ 0.72g/t Au
1.5m
@ 0.53g/t Au
1.5m
@ 0.88g/t Au |
1.5m @ 1.44g/t Au
5.5m
@ 1.33g/t Au
45.5m
@ 1.59g/t Au
10.5m
@ 1.17g/t Au
1.5m
@ 1.17g/t Au
4.95m
@ 1.07g/t Au
15.65m @ 1.12g/t
Au
5.7m
@ 1.15g/t Au
1.5m
@ 1.05g/t Au
1.5m
@ 1.01g/t Au
1.7m
@ 1.37g/t Au |
1.5m
@ 3.18g/t Au
4m @
2.8g/t Au
6m @
3.13g/t Au
1.5m
@ 2.3g/t Au
1.75m
@ 2.21g/t Au
1.8m
@ 2.22g/t Au
1.15m
@ 3.11g/t Au |
Criteria:
Cut off grade 0.2g/t Au, minimum length 1.5m, maximum consecutive
internal waste 6m |
|
Table 3: Camino Rojo Regional Program Composite Drill
Results
HOLE-ID |
From
(m) |
To
(m) |
Core
Length
(m) |
Au
g/t |
Ag
g/t |
Au
GXM |
Including
0.5g/t Au
COG |
Including
1g/t Au
COG |
Met
Code |
CRED22-01 |
51.40 |
58.50 |
7.10 |
0.54 |
0.6 |
3.81 |
0.7m
@ 4.12g/t Au |
0.7m
@ 4.12g/t Au |
51.4
- 52.48 SX
52.48
- 52.83 OX
52.83
- 58.5 SX |
CRED22-01 |
74.50 |
80.00 |
5.50 |
0.39 |
0.6 |
2.13 |
1.5m
@ 1.02g/t Au |
1.5m
@ 1.02g/t Au |
SX |
CRED22-01 |
104.95 |
107.30 |
2.35 |
1.35 |
1.1 |
3.17 |
0.8m
@ 3.83g/t Au |
0.5m
@ 5.59g/t Au |
104.95
- 105 OX
105 -
107.3 SX |
CRED22-01 |
116.90 |
122.55 |
5.65 |
0.24 |
1.3 |
1.38 |
0.6m
@ 1.42g/t Au |
|
116.9
- 120.73 SX
120.73 - 122.55
OX |
CRED22-01 |
137.50 |
140.50 |
3.00 |
0.44 |
0.3 |
1.32 |
1.5m
@ 0.62g/t Au |
|
SX |
CRED22-01 |
151.90 |
156.20 |
4.30 |
0.20 |
0.3 |
0.87 |
|
|
SX |
CRED22-01 |
169.95 |
179.00 |
9.05 |
0.32 |
0.6 |
2.91 |
1.7m
@ 1.43g/t Au |
1.7m
@ 1.43g/t Au |
SX |
CRED22-01 |
279.50 |
297.00 |
17.50 |
0.11 |
1.8 |
1.95 |
|
|
SX |
CRED22-01 |
398.30 |
399.50 |
1.20 |
2.17 |
0.8 |
2.60 |
1.2m
@ 2.17g/t Au |
1.2m
@ 2.17g/t Au |
SX |
CRED22-01 |
571.50 |
573.00 |
1.50 |
0.63 |
0.6 |
0.95 |
1.5m
@ 0.63g/t Au |
|
SX |
Criteria:
Cut off grade 0.1g/t Au, minimum length 1.5m, maximum consecutive
internal waste 6m. |
Table 4: Camino Rojo Drill Hole Collars
Drillhole |
Easting |
Northing |
Elevation |
Azimuth |
Dip |
Depth
(m) |
CRSX22-07 |
243658 |
2676063 |
1953 |
152 |
-74 |
1001 |
CRSX22-07C |
243658 |
2676063 |
1953 |
152 |
-65 |
779 |
CRSX22-08 |
243680 |
2676269 |
1954 |
148 |
-73 |
922 |
CRSX22-08B |
243680 |
2676269 |
1954 |
148 |
-73 |
881 |
CRSX22-08C |
243680 |
2676269 |
1954 |
148 |
-73 |
929 |
CRSX22-09 |
243677 |
2676170 |
1951 |
152 |
-75 |
691 |
CRSX22-09A |
243677 |
2676170 |
1951 |
151 |
-58 |
802 |
CRSX22-09B |
243677 |
2676170 |
1951 |
150 |
-76 |
760 |
CRSX22-10 |
243599 |
2676109 |
1954 |
160 |
-60 |
785 |
CRSX22-10A |
243599 |
2676109 |
1954 |
159 |
-61 |
790 |
CRSX22-10B |
243599 |
2676109 |
1954 |
160 |
-61 |
585 |
CROX22-01 |
244153 |
2676098 |
1920 |
145 |
-56 |
282 |
CROX22-02 |
244190 |
2676120 |
1920 |
145 |
-59 |
290 |
CRED22-01 |
250253 |
2680276 |
1930 |
180 |
-65 |
600 |
___________________________________________ |
1 All metres reported above are down-hole
intervals, with true width estimates ranging from 66-100% of the
reported interval. See Table 1 for estimated true widths of
individual composites. All assays were performed on 1.5 metre core
intervals and all drill core is HQ in diameter in size. The
reported composites were not subject to "capping", however a
preliminary analysis suggests that only 6 out of 2,910 samples
exceeded the potential capping level of 27.0 g/t - these samples
averaged 42.2 g/t gold (max. 73.6 g/t) and Orla believes that
applying a top cut would have a negligible effect on overall
grades. Composites for the sulphide drilling were calculated using
1 g/t Au cut-off grade and maximum 6 metres consecutive
waste. |
2 Additional information can be found in the Camino Rojo
Technical Report entitled "Unconstrained Feasibility Study NI
43-101 Technical Report on the Camino Rojo Gold Project –
Municipality of Mazapil, Zacatecas, Mexico" and dated January 11,
2021. |
3 Composites for the oxide drilling were calculated
using 0.2 g/t Au cut-off grade and maximum 6 metres consecutive
waste. |
4 Drill results presented are historical in nature. Such
results were completed by Goldcorp Inc., a prior owner of the
Camino Rojo Project. Composites for the sulphide drilling were
calculated using 1 g/t Au cut-off grade and maximum 6 metres
consecutive waste. |
SOURCE Orla Mining Ltd.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/January2023/31/c7248.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 06:10e 31-JAN-23
This regulatory filing also includes additional resources:
ex991.pdf
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