| Announcement Date: | 2021-12-06 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | NI43-101 |
| Company name: | Orla Mining Ltd. |
| Project name: | Cerro Quema |
| Location: | Panama |
| Commodities: | Gold,Silver |
| Highlight: | Updated Resource Estimate for Deposit |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | VANCOUVER, BC – December 6, 2021 – Orla Mining Ltd. (TSX: OLA; NYSE: ORLA) (“Orla” or the “Company”) is pleased to announce the independent mineral resource estimate for the Caballito coppergold deposit at the Company’s 100%-owned Cerro Quema project (“Cerro Quema”) located in the Azuero Peninsula, Los Santos Province, Panama. Caballito is a large, copper-gold deposit that represents an opportunity for the Company to potentially transform the scale and scope of Cerro Quema beyond the separate oxide project outlined in the July 2021 pre-feasibility study. The Caballito deposit, at its nearest point, is approximately 1 kilometre south-east of the Quemita oxide deposit outlined in the July 2021 Pre-Feasibility Study (“PFS”). The Cerro Quema Project area is outlined below in Figure 2. The Caballito deposit locally outcrops at surface and the copper-gold mineralization has been intersected over an estimated strike length of approximately 800 metres, a vertical extent of approximately 400 metres, and a variable thickness ranging from 50 to 150 metres. The mineral resource estimate, prepared by Moose Mountain Technical Service, includes a total of 62 holes (13,894 metres) of diamond drilling. The deposit remains open along strike and at depth. |
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