Vancouver, British Columbia–(Newsfile Corp. – May 29, 2018) – Orla Mining Ltd. (TSXV: OLA) (“Orla” or the “Company”) is pleased to provide the results of a positive Preliminary Economic Assessment (“PEA”) and a mineral resource estimate on its 100% owned Camino Rojo Project located in Zacatecas State, Mexico. The mineral resource and PEA support a technically simple open-pit mine and heap-leach operation that offers low capital and operating costs, rapid payback, and strong financial performance.
The new overall mineral resource at Camino Rojo is estimated to include measured and indicated mineral resources of 9.65 million ounces of gold and 102.4 million ounces of silver (354.9 million tonnes at 0.85 g/t gold and 8.97 g/t silver) and an inferred mineral resource of 1.82 million ounces of gold and 16.21 million ounces of silver (65.2M tonnes at 0.87 g/t gold and 7.73 g/t silver).
The mineral resource estimate was conducted by IMC of Tucson, AZ, under the direction of Michael G. Hester, FAusIMM. The PEA was overseen by KCA of Reno, NV. Michael G. Hester, FAusIMM of IMC was also responsible for the mining components of the PEA. KCA, under the direction of Carl Defilippi, RM SME was responsible for the metallurgy, process, general and administration and economic components of the PEA. Matthew Gray, Ph.D., C.P.G., of Resource Geosciences Incorporated of Rio Rico, AZ was responsible for the property, geology and environmental components of the PEA. Each of Messrs. Hester, Defilippi and Gray is a Qualified Person for their respective sections of the PEA and each of whom is Independent of Orla under the definitions of NI43-101. An independent technical report prepared in accordance with the requirements of NI 43-101 will be available on SEDAR within 45 days of this news release.
The technical information in this news release has been reviewed and approved by Michael G. Hester, FAusIMM, Carl Defilippi, RM SME and Matthew Gray, Ph.D., C.P.G, each of whom is an Independent Qualified Person under NI 43-101 standards.