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 June, 2023
Commission File Number: 001-39766
ORLA MINING LTD.
(Translation of registrant's name into English)
1010-1075
West Georgia Street
Vancouver,
BC
V6E
3C9
(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: June 22, 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 Provides Update on Successful Drilling
Program in Mexico
3.26 g/t Au over 56.9 m (Camino
Rojo Sulphide Zone), 5.90 g/t AuEq over 8.5 m (Camino Rojo Deep Extension), and 61.2 g/t over 1.3 m (Regional
Exploration)
VANCOUVER, BC, June 22, 2023 /CNW/ - Orla Mining
Ltd. (TSX: OLA) (NYSE: ORLA) ("Orla" or the "Company") is pleased to provide an update on its exploration activities
at Camino Rojo in the first half of 2023.
2023 Exploration Highlights: Camino Rojo (Mexico)
Camino Rojo Sulphides ("Sulphides"):
Infill drilling to reduce drill spacing to 25-30 metres in the Sulphides domain has continued to return high-grade gold intercepts (>2
g/t) over wide widths (>30 m). Notable results include1:
| Camino Rojo Sulphides |
| Hole CRSX22-11: |
2.87 g/t Au over 93.0 m incl. 3.69 g/t Au over 48.5 m |
| Hole CRSX22-12A: |
3.26 g/t Au over 56.9 m |
| Hole CRSX22-13: |
3.11 g/t Au over 34.0 m incl. 10.29 g/t Au over 5.6 m |
| Hole CRSX22-13: |
2.12 g/t Au over 43.0m incl. 2.78 g/t Au over 26.0 m |
| Hole CRSX23-14: |
2.00 g/t Au over 38.5 m |
| Hole CRSX23-14A: |
1.89 g/t Au over 63.0 m incl. 2.75 g/t Au over 31.5 m |
| Hole CRSX23-16A: |
1.62 g/t Au over 62.6 m incl. 7.72 g/t Au over 6.0 m |
| Hole CRSX23-17A |
3.18 g/t Au over 24.5 m |
| Hole CRSX23-17A |
4.18 g/t Au over 12.0 m incl. 23.7 g/t Au over 1.5m |
| Hole CRSX23-17C: |
3.16 g/t Au over 29.0 m |
| Hole CRSX23-17C: |
3.05 g/t Au over 42.0 m |
Camino Rojo Deep Extension ("Deep Extension"): A new style of polymetallic (Au-Ag-Zn) semi-massive to massive sulphide mineralization
has been confirmed in drill holes testing below the Caracol Formation hosted Sulphides. These deeper intercepts indicate mineralization
remains open at depth along and adjacent to interpreted feeder-like structures for the currently defined Camino Rojo deposit. Notable
results include1:
| Camino Rojo Sulphides Deep Extension |
| Hole CRSX23-15C: |
5.90 g/t AuEq over 8.5 m (3.52 g/t Au, 26.2 g/t Ag, 3.64% Zn, 0.26% Cu) |
| Hole CRSX23-15C: |
7.28 g/t AuEq over 3.3 m (4.54 g/t Au, 6.7 g/t Ag, 5.49% Zn, 0.06% Cu), |
| |
incl. 8.00 g/t Au, 7.6g/t Ag, 12.5% Zn, 0.11% Cu over 1.2m) |
| Hole CRSX23-15C: |
17.6 g/t AuEq over 1.5 m (15.4 g/t Au, 6.7 g/t Ag, 4.39% Zn, 0.04% Cu) |
Regional Exploration: Follow-up drilling at the Guanamero target area, located approximately 7 km northeast of the Camino Rojo
mine along the mine structural trend, returned encouraging and narrow high-grade gold results with occurrences of visible gold (VG) in
two of the seven holes completed. Notable assay results include1:
| Camino Rojo Regional Exploration (Guanamero) |
| Hole CRED23-05: |
0.69 g/t Au over 10.5 m incl. 4.02 g/t Au over 1.5 m (visible gold) |
| Hole CRED23-05: |
0.94 g/t Au over 3.3 m incl. 1.08 g/t Au over 1.7 m |
| Hole CRED23-06: |
61.2 g/t Au over 1.3 m (visible gold) |
| Hole CRED23-06: |
2.72 g/t Au over 1.5 m |
"The 2023 Camino Rojo Sulphides infill and deep extension drill programs continue to generate excellent gold intersections, including
massive sulphide replacement style mineralization below the current resource. These results are exciting as they enhance future development
opportunity scenarios and provide resource growth potential at depth. We have also encountered high-grade gold assays with visible gold,
highlighting the prospectivity on our under-explored regional land package. We are advancing a full exploration pipeline in 2023 in an
effort to upgrade and expand reserves and resources and make new discoveries."
Sylvain Guerard, Orla's Senior Vice President,
Exploration
2023 Exploration: Camino Rojo (Mexico)
Orla's 2023 Camino Rojo exploration program consists
of three projects with a total budget of $22 million. Approximately 40% of the planned 34,000 metres of drilling on the Sulphides has
been completed and is intended to advance the understanding of the deposit. The layback oxide extension (the "Layback Program")
intends to confirm and delineate mineralization located in the oxide pit layback and allow for an update of mineral resource and reserve
estimates planned in late 2023. The Layback Program, consisting of approximately 3,000 metres in 24 drillholes, was completed in late
May and assay results are pending. The regional exploration drill program is testing priority regional targets in an effort to make
new satellite discoveries. Approximately 30% of the planned 20,000 metres regional drilling program has been completed to date.
Near Mine Exploration Results: Camino Rojo Sulphides
Drill results at Camino Rojo Sulphides continue
to support potential for underground development
Drilling continues to intercept wide zones (>15m
down-hole drill intersections) of higher-grade gold mineralization (>2g/t Au), 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. The 2023 program is building on Orla's previous drill programs, infilling the higher-grade portions
of the deposit with 50-metre spacing of south-oriented drill holes. Overall drill spacing at the end of this phase of drilling, including
historical north-oriented drill holes, will be 25-30 metres. Infill drilling of the sulphide deposit will be used to update the geological
model and the resource estimate for the Camino Rojo Sulphides. To date, approximately 14,000 metres of the approximately 34,000-metre
drill program have been drilled. Assay results from 11 of the planned 57 holes completed in 2023 have returned 17 significant mineralized
drill intercepts with a grade-by-thickness factor greater than 50 g/t gold by metre (g/t * m), including five intercepts with grade-by-thickness
factor greater than 100 g/t gold by metre. Full drill results are available in the Appendix to this news release and are available
at www.orlamining.com.
The current open pit mineral resource estimate for
the Sulphides at Camino Rojo is 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) with an effective date of June 7, 20192. The resource estimate will be updated following
completion of the 2023 drill program. The updated resource will then support studies for a potential underground development scenario.
Figure 1: Camino Rojo Sulphides 2023 Drill Hole Locations
(Plan View) (CNW Group/Orla Mining Ltd.)
Figure 2: Camino Rojo Sulphides 2023 Drill Result
Highlights (Long Section) (CNW Group/Orla Mining Ltd.)
Figure 3: Camino Rojo Sulphides 2023 Results (Cross
Section, Hole CRSX22-11) (CNW Group/Orla Mining Ltd.)
Near Mine Exploration Results: Camino Rojo Sulphides Deep Extension
New style of mineralization including high grade
gold and zinc intersections continue to support potential for extension of Camino Rojo Sulphides
Approximately 20% of the 2023 sulphide drill program
is planned to be extended, beyond the boundaries of the current open pit resource estimate, to test the down plunge continuity of gold
mineralization along the steep northwest dipping Dike Structural Zone. Results from the first of these extended drill holes, CRSX23-15C,
have returned high-grade gold and polymetallic intercepts, such as:
- 15.4 g/t Au & 4.4% Zn over 1.5 m,
- 3.52 g/t Au, 26.2 g/t Ag & 3.6% Zn over 8.5 m including
6.57 g/t Au, 33.7 g/t Ag & 5.7% Zn over 1.7 m and including 6.86 g/t Au, 38.7 g/t Ag & 1.2% Zn over 1.6 m
- and 4.54 g/t Au over 3.3 m including 8.00 g/t Au &
12.5% Zn over 1.2 m.
Individual assays and composite values for deep extension
intercepts in hole CRSX23-15C are provided in Table 1. High-grade, polymetallic intercepts below the currently defined Camino Rojo resource
are associated with massive sulphide replacement-style mineralization of carbonate horizons interpreted to be in close proximity to interpreted
feeder-like structures. Additional drilling in the Deep Extension target area through the remainder of 2023 will seek to continue defining
the extent and grade of this style of mineralization down-plunge of the Camino Rojo deposit.
Table 1: CRSX23-15C Camino Rojo Deep Extension
intercepts. Composite and raw assay values.
| Hole ID |
From |
To |
Au g/t |
Ag g/t |
Cu ppm |
Zn ppm |
AuEq g/t |
Interval |
Composite |
| CRSX23-15C |
918.43 |
920 |
1.30 |
1.6 |
90 |
508 |
1.36 |
1.57 |
16.6m @ 2.28g/t AuEq
(1.76g/t Au, 7g/t Ag,
237ppm Cu, 0.86% Zn)
|
| CRSX23-15C |
920 |
921.5 |
1.92 |
9.1 |
157 |
23000 |
3.13 |
1.5 |
| CRSX23-15C |
921.5 |
923 |
3.97 |
10.4 |
194 |
16600 |
4.90 |
1.5 |
| CRSX23-15C |
923 |
924.5 |
0.63 |
23.1 |
1220 |
2230 |
1.17 |
1.5 |
| CRSX23-15C |
924.5 |
926 |
0.34 |
1.4 |
90 |
1535 |
0.44 |
1.5 |
| CRSX23-15C |
926 |
927.5 |
1.50 |
5.0 |
196 |
13700 |
2.23 |
1.5 |
| CRSX23-15C |
927.5 |
929 |
0.45 |
2.5 |
16 |
1305 |
0.54 |
1.5 |
| CRSX23-15C |
929 |
930.5 |
0.27 |
1.9 |
105 |
4080 |
0.50 |
1.5 |
| CRSX23-15C |
930.5 |
932 |
0.42 |
0.3 |
20 |
419 |
0.44 |
1.5 |
| CRSX23-15C |
932 |
933.5 |
7.37 |
21.6 |
517 |
31100 |
9.16 |
1.5 |
| CRSX23-15C |
933.5 |
935 |
1.19 |
0.7 |
5 |
541 |
1.22 |
1.5 |
| CRSX23-15C |
945.5 |
947 |
3.09 |
10.5 |
190 |
526 |
3.27 |
1.5 |
5.3m @ 2.68g/t AuEq
(2g/t Au, 7.7g/t Ag,
279ppm Cu, 1.16% Zn)
|
| CRSX23-15C |
947 |
948.5 |
0.16 |
1.3 |
147 |
568 |
0.22 |
1.5 |
| CRSX23-15C |
948.5 |
950.18 |
0.30 |
1.2 |
117 |
956 |
0.38 |
1.68 |
| CRSX23-15C |
950.18 |
950.78 |
8.65 |
34.9 |
1285 |
96900 |
13.80 |
0.6 |
| CRSX23-15C |
965.5 |
967 |
1.34 |
27.5 |
4020 |
30600 |
3.69 |
1.5 |
8.5m @ 5.90g/t AuEq
(3.52g/t Au, 26.2g/t Ag,
2589ppm Cu, 3.64% Zn) |
| CRSX23-15C |
967 |
968 |
3.41 |
8.1 |
981 |
292 |
3.66 |
1 |
| CRSX23-15C |
968 |
969 |
0.05 |
1.5 |
65 |
477 |
0.10 |
1 |
| CRSX23-15C |
969 |
970.65 |
6.57 |
33.7 |
1380 |
56600 |
9.84 |
1.65 |
| CRSX23-15C |
970.65 |
972.3 |
1.28 |
30.8 |
1110 |
89400 |
6.06 |
1.65 |
| CRSX23-15C |
972.3 |
973.95 |
6.86 |
38.7 |
6480 |
11900 |
8.83 |
1.65 |
| CRSX23-15C |
994.5 |
995.35 |
3.16 |
1.7 |
303 |
14150 |
3.89 |
0.85 |
3.3m @ 7.28g/t AuEq
(4.54g/t Au, 6.7g/t Ag,
587ppm Cu, 5.49% Zn) |
| CRSX23-15C |
995.35 |
996.55 |
8.00 |
7.6 |
1120 |
125000 |
14.12 |
1.2 |
| CRSX23-15C |
996.55 |
997.75 |
2.05 |
9.4 |
254 |
13650 |
2.84 |
1.2 |
| CRSX23-15C |
1026 |
1027.5 |
2.27 |
10.0 |
520 |
679 |
2.49 |
1.5 |
1.5m @ 2.49g/t AuEq
(2.27g/t Au, 10g/t Ag,
520ppm Cu, 679ppm Zn) |
| CRSX23-15C |
1048.5 |
1050 |
15.35 |
6.7 |
385 |
43900 |
17.55 |
1.5 |
1.5m @ 17.55g/t AuEq
(15.35g/t Au, 6.7g/t Ag,
385ppm Cu, 4.39% Zn) |
In addition to extending drill holes as part of the Sulphides drill program, the Company plans to drill approximately 2,300 metres in
four additional directional drill holes in the second half of the year. This additional drilling section will follow-up on a historical
intercept of 4.04 g/t Au over 46.5 m, incl. 27 m at 6.26 g/t Au (and incl. 7.5 m at 15.8 g/t Au, 36.5 g/t Ag, 5.7% Zn) in
hole CR12-366D, approximately 250 metres down-plunge of the most recent deep intercept in hole CRSX23-15C. Mineralization intersected
in hole CRSX23-15C and in historical intercepts consist mostly of semi-massive to massive sulphide replacement-style mineralization within
the Indidura and Cuesta del Cura formations. This new style of sulphide replacement mineralization below the current boundaries of the
open pit resource estimate may represent an opportunity to expand an underground sulphide resource at Camino Rojo.
The 2023 Camino Rojo Sulphides drill program will
continue into the second half of the year, providing crucial information to support evaluation of the potential for underground development
and a standalone processing option for the Camino Rojo Sulphides as well as continuing to provide critical information to evaluate the
potential extension of the Camino Rojo deposit at depth.
Figure 4: Camino Rojo Deep Extension 2023 Results
(Cross Section, Hole CRSX23-15C) (CNW Group/Orla Mining Ltd.)
Near Mine Exploration Results: Layback Program
The Company began drilling in the oxide pit layback
in late April to confirm and delineate mineralization on the Fresnillo Plc ("Fresnillo") property, located immediately north
of and adjacent to 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 resource and mineral
reserve estimate. The Layback Program, consisting of approximately 3,000 metres in 24 drillholes, was completed in late May. Results of
the Layback Program will be included in an update of mineral resource and mineral reserve estimates planned in late 2023. Assay results
are pending.
Regional Exploration Program 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 (previously reported, see news release dated January
31, 2023) at the Guanamero target. Follow-up drilling in 2023 has been positive with two of the seven drill holes completed returning
visible gold and associated significant results, such as 61.2 g/t Au over 1.3 m and 0.69 g/t Au over 10.5 m incl. 4.02
g/t Au over 1.5 m. Full drill results are available in the Appendix to this news release and are available at www.orlamining.com.
Results from this most recent drilling at Guanamero
suggest gold mineralization extends and plunges moderately to the southwest, similar to the plunge of mineralization at the Camino Rojo
deposit. Additional follow-up drilling to test the southwest plunge of mineralization at Guanamero is planned for 2023, along with drilling
at other regional targets.
Figure 5: Camino Rojo Regional Exploration Program
(Guanamero Results) (CNW Group/Orla Mining Ltd.)
Figure 6: Camino Rojo Regional Exploration Program:
Guanamero Results (Plan View) (CNW Group/Orla Mining Ltd.)
Figure 7: Camino Rojo Regional Exploration Program:
Guanamero Results (Vertical Section) (CNW Group/Orla Mining Ltd.)
2023 Exploration Plans & Strategy: Camino Rojo
(Mexico)
| Mexico Exploration 2023 |
Program |
Drilling Planned |
Spend |
| Camino Rojo Sulphides Drilling (capitalized) |
Infilling sulphides
and other near-mine drilling |
34,000 m DD sulphides
(20% deep extension)
6,500 m DD oxides |
$16m |
| Camino Rojo Layback Program (capitalized) |
Infill on oxide mine
layback area |
3,000 m DD |
$2m |
| Camino Rojo Regional Exploration (expensed) |
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 |
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 and
2023 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 and 2023 Drill Programs
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.
For additional informaiton on the Company's previoulsy
reported drill results, see the Company's press releases dated February 4, 2021 (Orla Mining Provides Exploration Update), September
12, 2022 (Orla Mining Advances Exploration & Growth Pipeline) and January 31, 2023 (Orla Mining Continues to Intersect Wide,
Higher-Grade Sulphide Zones and Expose Deeper Potential at Camino Rojo, Mexico). Historical drill results at Camino Rojo were completed
by Goldcorp. Inc. ("Goldcorp"), a prior owner of the project. The Company's independent qualified person, Independent Mining
Consultants, Inc. was of the opinion that the drilling and sampling procedures for Camino Rojo drill samples by Goldcorp (and prior to
its acquisition by Goldcorp, Canplats Resources Corporation) were reasonable and adequate for the purposes of the Camino Rojo Report,
and that the Goldcorp QA/QC program met or exceeded industry standards. See the Camino Rojo Report for additional information.
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 (the "Camino Rojo Report"), 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 2023 drill program, including the potential for reserve expansion of the oxide pit at Camino Rojo, the deep extension of
the Camino Rojo Sulphides and the potential for additional regional discoveries; the timing of updated resource and reserve estimates;
the potential underground development scenario for the Camino Rojo Sulphides; and other statements regarding 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 future price of gold, silver, and copper; anticipated costs and the Company's ability to fund its programs;
the Company's ability to carry on exploration, development, and mining activities; tonnage of ore to be mined and processed; ore grades
and recoveries; decommissioning and reclamation estimates; the Company's ability to secure and to meet obligations under property agreements,
including the layback agreement with Fresnillo plc; that all conditions of the Company's credit facility will be met; the timing and results
of drilling programs; mineral reserve and mineral resource estimates and the assumptions on which they are based; the discovery of mineral
resources and mineral reserves on the Company's mineral properties; that political and legal developments will be consistent with current
expectations; the timely receipt of required approvals and permits, including those approvals and permits required for successful project
permitting, construction, and operation of projects; the timing of cash flows; the costs of operating and exploration expenditures; the
Company's ability to operate in a safe, efficient, and effective manner; the Company's ability to obtain financing as and when required
and on reasonable terms; the impact of the COVID-19 pandemic on the Company's operations; that the Company's activities will be in accordance
with the Company's public statements and stated goals; and that there will be no material adverse change or 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; the Company's dependence
on the Camino Rojo oxide mine; risks related to the Company's indebtedness; risks related to exploration, development, and operation activities;
risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations, including the COVID-19 pandemic;
foreign country and political risks, including risks relating to foreign operations and expropriation or nationalization of mining operations;
concession risks at the Cerro Quema project; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits;
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 the Camino Rojo project and to obtain the necessary regulatory approvals
related thereto; the mineral resource estimations for the Camino Rojo project being only estimates and relying on certain assumptions;
loss of, delays in, or failure to get access from surface rights owners; uncertainties related to title to mineral properties; water rights;
financing risks and access to additional capital; risks related to guidance estimates and uncertainties inherent in the preparation of
feasibility and pre-feasibility studies; uncertainty in estimates of production, capital, and operating costs and potential production
and cost overruns; the fluctuating price of gold, silver, and copper; unknown labilities in connection with acquisitions; global financial
conditions; uninsured risks; climate change risks; competition from other companies and individuals; 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; litigation risks; the Company's ability
to identify, complete, and successfully integrate acquisitions; intervention by non-governmental organizations; outside contractor risks;
risks related to historical data; the Company not having paid a dividend; 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 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; and 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 20, 2023, 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 Sulphide Composite
Drill Results (Composites 1g/t Au cog)
| HOLE-ID |
From
(m) |
To
(m) |
Core Length
(m) |
Estimated True Width
(m) |
Au
g/t |
Ag
g/t |
Cu
ppm |
Zn
ppm |
AuEq g/t
(Au+Ag+Cu+Zn) |
Au GXM |
AuEq GXM |
Including
2.0g/t Au COG |
Including
10g/t Au HG |
Litho |
| CRSX22-11 |
227.00 |
228.60 |
1.6 |
1.3 |
1.25 |
4.3 |
25 |
739 |
1.33 |
1.99 |
2.14 |
|
|
Caracol |
| CRSX22-11 |
284.00 |
285.50 |
1.5 |
1.2 |
3.27 |
17.6 |
89 |
1460 |
3.56 |
4.91 |
5.34 |
1.5m @ 3.27g/t Au |
|
Caracol |
| CRSX22-11 |
296.00 |
297.50 |
1.5 |
1.2 |
1.04 |
6.6 |
79 |
2410 |
1.24 |
1.55 |
1.86 |
|
|
Caracol |
| CRSX22-11 |
303.50 |
306.50 |
3.0 |
2.4 |
1.21 |
4.3 |
42 |
1703 |
1.34 |
3.62 |
4.03 |
|
|
Caracol |
| CRSX22-11 |
314.00 |
318.50 |
4.5 |
3.7 |
1.03 |
20.4 |
136 |
3494 |
1.46 |
4.65 |
6.57 |
|
|
Caracol |
| CRSX22-11 |
342.50 |
355.90 |
13.4 |
10.9 |
2.50 |
29.0 |
201 |
9839 |
3.34 |
33.54 |
44.78 |
9.6m @ 3.21g/t Au |
|
Caracol |
| CRSX22-11 |
363.50 |
456.50 |
93.0 |
71.2 |
2.87 |
18.5 |
163 |
6748 |
3.43 |
267.05 |
319.33 |
4.5m @ 2.65g/t Au
1.5m @ 2.12g/t Au
1.4m @ 3.48g/t Au
48.5m @ 3.69g/t Au
9m @ 4.75g/t Au |
1.5m @ 30.8g/t Au
1.5m @ 22.6g/t Au |
363.5 - 363.61 Caracol
363.61 - 364 Breccia
364 - 375 Caracol
375 - 377.6 Breccia
377.6 - 405.02 Caracol
405.02 - 418.15 FG Intrusives - hdb-bi-pl
418.15 - 456.5 Caracol |
| CRSX22-11 |
473.00 |
497.00 |
24.0 |
19.3 |
1.50 |
9.4 |
111 |
4953 |
1.86 |
35.89 |
44.54 |
3m @ 3.46g/t Au
1.5m @ 7.4g/t Au |
|
Caracol |
| CRSX22-12A |
303.00 |
304.50 |
1.5 |
1.1 |
1.54 |
4.2 |
41 |
168 |
1.60 |
2.31 |
2.41 |
|
|
Caracol |
| CRSX22-12A |
319.50 |
321.00 |
1.5 |
1.1 |
4.95 |
11.9 |
44 |
332 |
5.11 |
7.43 |
7.67 |
1.5m @ 4.95g/t Au |
|
Caracol |
| CRSX22-12A |
328.50 |
337.50 |
9.0 |
6.7 |
1.43 |
20.6 |
90 |
3657 |
1.86 |
12.89 |
16.77 |
1.5m @ 2.66g/t Au |
|
Caracol |
| CRSX22-12A |
345.00 |
346.50 |
1.5 |
1.1 |
1.36 |
14.9 |
70 |
1395 |
1.61 |
2.03 |
2.41 |
|
|
Caracol |
| CRSX22-12A |
364.50 |
392.00 |
27.5 |
20.4 |
1.06 |
18.1 |
158 |
3476 |
1.46 |
29.08 |
40.14 |
1.5m @ 3.28g/t Au
1m @ 9.06g/t Au |
|
Caracol |
| CRSX22-12A |
399.50 |
401.00 |
1.5 |
1.1 |
2.45 |
5.1 |
55 |
10000 |
2.99 |
3.68 |
4.48 |
1.5m @ 2.45g/t Au |
|
Caracol |
| CRSX22-12A |
414.50 |
416.00 |
1.5 |
1.1 |
4.07 |
37.3 |
244 |
7960 |
4.93 |
6.11 |
7.39 |
1.5m @ 4.07g/t Au |
|
Caracol |
| CRSX22-12A |
426.50 |
429.50 |
3.0 |
2.2 |
2.95 |
6.3 |
88 |
2990 |
3.17 |
8.84 |
9.52 |
3m @ 2.94g/t Au |
|
Caracol |
| CRSX22-12A |
437.75 |
494.60 |
56.9 |
41.9 |
3.26 |
13.2 |
307 |
6238 |
3.75 |
185.18 |
213.28 |
56.85m @ 3.26g/t Au |
1.6m @ 10.4g/t Au
1.7m @ 15.5g/t Au |
437.75 - 473 Caracol
473 - 474.5 FG Intrusives - hdb-bi-pl
474.5 - 494.6 Caracol |
| CRSX22-12A |
502.70 |
513.00 |
10.3 |
7.6 |
1.52 |
5.8 |
104 |
1207 |
1.66 |
15.64 |
17.09 |
1.5m @ 3.92g/t Au
1.5m @ 2.05g/t Au |
|
Caracol |
| CRSX22-12A |
526.80 |
528.50 |
1.7 |
1.2 |
6.44 |
34.9 |
603 |
6940 |
7.27 |
10.95 |
12.36 |
1.7m @ 6.44g/t Au |
|
Caracol |
| CRSX22-12A |
538.00 |
539.00 |
1.0 |
0.8 |
2.49 |
8.6 |
209 |
26700 |
3.88 |
2.49 |
3.88 |
|
|
Caracol |
| CRSX22-13 |
307.50 |
313.65 |
6.1 |
4.7 |
1.01 |
5.0 |
41 |
272 |
1.09 |
6.19 |
6.68 |
|
|
Breccia |
| CRSX22-13 |
319.50 |
322.50 |
3.0 |
2.3 |
2.21 |
9.3 |
33 |
677 |
2.35 |
6.62 |
7.06 |
1.5m @ 3.33g/t Au |
|
Caracol |
| CRSX22-13 |
340.50 |
342.00 |
1.5 |
1.1 |
1.19 |
2.6 |
34 |
142 |
1.23 |
1.78 |
1.84 |
|
|
Caracol |
| CRSX22-13 |
394.00 |
398.50 |
4.5 |
3.4 |
1.24 |
25.9 |
142 |
6857 |
1.89 |
5.59 |
8.53 |
|
|
Caracol |
| CRSX22-13 |
424.00 |
441.00 |
17.0 |
13.0 |
1.49 |
8.0 |
76 |
2620 |
1.71 |
25.25 |
29.15 |
1.5m @ 2.37g/t Au
1.5m @ 2.5g/t Au
6.5m @ 2.15g/t Au |
|
Caracol |
| CRSX22-13 |
450.00 |
484.00 |
34.0 |
25.9 |
3.11 |
13.2 |
192 |
3740 |
3.47 |
105.65 |
117.90 |
16m @ 2.14g/t Au
5.6m @ 10.29g/t Au |
1.7m @ 32.4g/t Au |
Caracol |
| CRSX22-13 |
493.00 |
536.00 |
43.0 |
32.7 |
2.12 |
6.7 |
167 |
4154 |
2.42 |
91.31 |
104.15 |
1.5m @ 3.8g/t Au
26m @ 2.78g/t Au |
1.5m @ 13.3g/t Au |
493 - 517.9 Caracol
517.9 - 520.9 FG Intrusives - hdb-bi-pl
520.9 - 536 Caracol |
| CRSX22-13 |
548.00 |
579.90 |
31.9 |
24.2 |
2.11 |
13.4 |
336 |
5054 |
2.55 |
67.21 |
81.40 |
25.9m @ 2.33g/t Au |
|
Caracol |
| CRSX22-13 |
587.50 |
588.75 |
1.3 |
0.9 |
1.43 |
9.4 |
246 |
3610 |
1.74 |
1.78 |
2.18 |
|
|
Caracol |
| CRSX22-13 |
592.15 |
593.50 |
1.4 |
1.0 |
1.14 |
8.6 |
154 |
4700 |
1.49 |
1.54 |
2.01 |
|
|
Caracol |
| CRSX22-13 |
598.50 |
600.00 |
1.5 |
1.1 |
2.75 |
4.7 |
186 |
2380 |
2.94 |
4.13 |
4.42 |
1.5m @ 2.75g/t Au
1.5m @ 2.75g/t Au |
|
Porph Intrusives - hdb-bi-pl |
| CRSX22-13 |
613.90 |
616.90 |
3.0 |
2.3 |
1.27 |
20.4 |
269 |
7303 |
1.89 |
3.81 |
5.68 |
|
|
Caracol |
| CRSX23-14 |
409.00 |
410.50 |
1.5 |
1.0 |
3.50 |
26.0 |
39 |
597 |
3.85 |
5.25 |
5.77 |
1.5m @ 3.5g/t Au |
|
Caracol |
| CRSX23-14 |
440.40 |
476.00 |
35.6 |
23.3 |
1.74 |
10.9 |
96 |
2683 |
2.01 |
61.86 |
71.48 |
1.2m @ 3.44g/t Au
1.5m @ 3.21g/t Au
18m @ 2.64g/t Au |
|
Caracol |
| CRSX23-14 |
483.50 |
494.00 |
10.5 |
6.8 |
1.25 |
7.2 |
78 |
2734 |
1.48 |
13.15 |
15.52 |
1.5m @ 3.69g/t Au |
|
Caracol |
| CRSX23-14 |
509.00 |
547.50 |
38.5 |
25.0 |
2.00 |
11.3 |
166 |
4673 |
2.38 |
76.99 |
91.55 |
1.5m @ 2.78g/t Au
4m @ 2.58g/t Au
6m @ 2.34g/t Au
4.5m @ 6.06g/t Au |
|
Caracol |
| CRSX23-14 |
565.50 |
567.00 |
1.5 |
1.0 |
1.45 |
14.4 |
175 |
1020 |
1.69 |
2.18 |
2.54 |
|
|
Caracol |
| CRSX23-14 |
585.00 |
588.00 |
3.0 |
2.0 |
1.73 |
6.5 |
243 |
2510 |
1.96 |
5.20 |
5.89 |
1.5m @ 2.01g/t Au |
|
Caracol |
| CRSX23-14 |
625.00 |
626.50 |
1.5 |
1.0 |
1.42 |
4.2 |
174 |
2020 |
1.59 |
2.13 |
2.38 |
|
|
Caracol |
| CRSX23-14 |
631.00 |
632.50 |
1.5 |
1.0 |
1.69 |
22.6 |
612 |
29300 |
3.42 |
2.53 |
5.13 |
|
|
Caracol |
| CRSX23-14 |
637.00 |
638.50 |
1.5 |
1.0 |
1.42 |
16.7 |
242 |
10050 |
2.13 |
2.13 |
3.19 |
|
|
Caracol |
| CRSX23-14A |
377.50 |
379.00 |
1.5 |
1.1 |
1.53 |
2.3 |
48 |
1205 |
1.62 |
2.29 |
2.42 |
|
|
Caracol |
| CRSX23-14A |
397.00 |
460.00 |
63.0 |
47.4 |
1.89 |
10.4 |
97 |
3463 |
2.19 |
119.02 |
137.96 |
31.5m @ 2.75g/t Au
1.5m @ 4.88g/t Au
1.5m @ 3.07g/t Au |
1.5m @ 20.1g/t Au |
Caracol |
| CRSX23-14A |
472.00 |
475.00 |
3.0 |
2.2 |
1.08 |
5.7 |
143 |
2690 |
1.30 |
3.25 |
3.89 |
|
|
Caracol |
| CRSX23-14A |
492.00 |
544.50 |
52.5 |
39.2 |
1.31 |
5.8 |
124 |
1211 |
1.45 |
68.58 |
76.10 |
1.5m @ 2.22g/t Au
3.4m @ 7.23g/t Au
1.5m @ 2.65g/t Au |
1.1m @ 17.1g/t Au |
492 - 519.2 Caracol
519.2 - 522.15 Breccia
522.15 - 544.5 Caracol |
| CRSX23-15 |
532.50 |
560.00 |
27.5 |
17.5 |
1.84 |
16.7 |
89 |
3046 |
2.20 |
50.67 |
60.45 |
1.5m @ 2.23g/t Au
3.4m @ 8.07g/t Au |
1.95m @ 11.16g/t Au |
532.5 - 543.1 Caracol
543.1 - 545.15 Breccia
545.15 - 560 Caracol |
| CRSX23-15 |
577.50 |
600.50 |
23.0 |
14.5 |
2.35 |
6.1 |
89 |
3108 |
2.58 |
54.03 |
59.35 |
7.5m @ 2.82g/t Au
3m @ 7.22g/t Au |
|
577.5 - 586.45 Caracol
586.45 - 588.85 Breccia
588.85 - 600.5 Caracol |
| CRSX23-15 |
608.00 |
620.00 |
12.0 |
7.6 |
5.09 |
14.4 |
160 |
2542 |
5.41 |
61.12 |
64.89 |
8.9m @ 6.37g/t Au |
0.5m @ 62.1g/t Au |
608 - 614 Caracol
614 - 616.9 Breccia
616.9 - 620 Caracol |
| CRSX23-15 |
629.00 |
630.50 |
1.5 |
0.9 |
11.20 |
8.8 |
31 |
39 |
11.31 |
16.80 |
16.97 |
1.5m @ 11.2g/t Au |
1.5m @ 11.2g/t Au |
Caracol |
| CRSX23-15 |
693.50 |
695.00 |
1.5 |
0.9 |
5.41 |
4.8 |
34 |
111 |
5.48 |
8.12 |
8.22 |
1.5m @ 5.41g/t Au |
|
Caracol |
| CRSX23-15C |
521.00 |
524.00 |
3.0 |
2.3 |
1.43 |
13.9 |
130 |
3005 |
1.76 |
4.29 |
5.27 |
|
|
Caracol |
| CRSX23-15C |
534.50 |
563.50 |
29.0 |
22.1 |
2.04 |
11.8 |
147 |
3177 |
2.35 |
59.09 |
68.10 |
7.5m @ 2.49g/t Au
9.5m @ 3.69g/t Au |
1m @ 18.95g/t Au |
Caracol |
| CRSX23-15C |
584.50 |
590.50 |
6.0 |
4.6 |
3.21 |
12.4 |
201 |
3189 |
3.54 |
19.26 |
21.22 |
4.5m @ 3.81g/t Au |
|
Caracol |
| CRSX23-15C |
598.00 |
608.50 |
10.5 |
8.0 |
2.92 |
10.3 |
199 |
3136 |
3.21 |
30.62 |
33.75 |
10.5m @ 2.92g/t Au |
|
Caracol |
| CRSX23-15C |
625.00 |
626.50 |
1.5 |
1.1 |
4.49 |
5.0 |
169 |
82 |
4.58 |
6.74 |
6.87 |
1.5m @ 4.49g/t Au |
|
Caracol |
| CRSX23-15C |
637.00 |
638.50 |
1.5 |
1.1 |
1.76 |
8.2 |
52 |
370 |
1.88 |
2.63 |
2.82 |
|
|
Caracol |
| CRSX23-15C |
683.90 |
685.65 |
1.8 |
1.3 |
1.63 |
2.5 |
116 |
34 |
1.68 |
2.85 |
2.94 |
|
|
Caracol |
| CRSX23-15C |
710.50 |
724.00 |
13.5 |
10.2 |
1.53 |
6.4 |
141 |
3131 |
1.78 |
20.69 |
23.97 |
6m @ 2.33g/t Au
1.5m @ 2.74g/t Au |
|
Caracol |
| CRSX23-15C |
736.00 |
764.50 |
28.5 |
21.6 |
2.65 |
6.9 |
178 |
1781 |
2.84 |
75.51 |
80.96 |
15m @ 4.22g/t Au |
1.5m @ 10.3g/t Au |
736 - 759.8 Caracol
759.8 - 764.5 Indidura |
| CRSX23-15C |
775.00 |
776.50 |
1.5 |
1.1 |
4.43 |
36.1 |
343 |
15400 |
5.63 |
6.65 |
8.45 |
1.5m @ 4.43g/t Au |
|
Indidura |
| CRSX23-15C |
803.00 |
804.50 |
1.5 |
1.1 |
4.85 |
18.6 |
475 |
6740 |
5.46 |
7.28 |
8.18 |
1.5m @ 4.85g/t Au |
|
Indidura |
| CRSX23-15C |
819.50 |
821.00 |
1.5 |
1.1 |
1.54 |
12.3 |
794 |
3730 |
1.97 |
2.31 |
2.96 |
|
|
Indidura |
| CRSX23-15C |
842.00 |
846.50 |
4.5 |
3.4 |
1.09 |
10.6 |
480 |
407 |
1.30 |
4.90 |
5.86 |
|
|
Indidura |
| CRSX23-15C |
851.00 |
852.50 |
1.5 |
1.1 |
1.87 |
1.4 |
109 |
130 |
1.91 |
2.81 |
2.86 |
|
|
Indidura |
| CRSX23-15C |
870.50 |
876.50 |
6.0 |
4.5 |
1.06 |
11.1 |
444 |
4139 |
1.45 |
6.37 |
8.70 |
1.5m @ 2.4g/t Au |
|
Indidura |
| CRSX23-15C |
890.00 |
893.00 |
3.0 |
2.2 |
1.44 |
1.2 |
72 |
270 |
1.47 |
4.31 |
4.41 |
|
|
Indidura |
| CRSX23-15C |
918.43 |
935.00 |
16.6 |
13.7 |
1.76 |
7.0 |
237 |
8604 |
2.28 |
29.10 |
37.74 |
1.5m @ 3.97g/t Au
1.5m @ 7.37g/t Au |
|
Cuesta de Cura |
| CRSX23-15C |
945.50 |
950.78 |
5.3 |
4.4 |
2.00 |
7.7 |
279 |
11626 |
2.68 |
10.57 |
14.14 |
5.28m @ 2g/t Au |
|
Cuesta de Cura |
| CRSX23-15C |
965.50 |
973.95 |
8.5 |
7.0 |
3.52 |
26.2 |
2589 |
36356 |
5.90 |
29.74 |
49.84 |
6.95m @ 3.99g/t Au |
|
Cuesta de Cura |
| CRSX23-15C |
994.50 |
997.75 |
3.3 |
2.7 |
4.54 |
6.7 |
587 |
54895 |
7.28 |
14.75 |
23.66 |
3.25m @ 4.54g/t Au |
|
Cuesta de Cura |
| CRSX23-15C |
1026.00 |
1027.50 |
1.5 |
1.2 |
2.27 |
10.0 |
520 |
679 |
2.49 |
3.41 |
3.74 |
1.5m @ 2.27g/t Au |
|
Cuesta de Cura |
| CRSX23-15C |
1048.50 |
1050.00 |
1.5 |
1.2 |
15.35 |
6.7 |
385 |
43900 |
17.55 |
23.03 |
26.32 |
1.5m @ 15.35g/t Au |
1.5m @ 15.35g/t Au |
Cuesta de Cura |
| CRSX23-16 |
473.50 |
509.00 |
35.5 |
24.2 |
1.10 |
7.1 |
73 |
2839 |
1.32 |
38.90 |
47.03 |
1.5m @ 2.11g/t Au
4.5m @ 2.34g/t Au |
|
Caracol |
| CRSX23-16 |
516.50 |
555.50 |
39.0 |
26.6 |
2.10 |
8.5 |
128 |
3774 |
2.40 |
81.89 |
93.48 |
18m @ 2.38g/t Au
6m @ 3.63g/t Au |
|
Caracol |
| CRSX23-16 |
566.00 |
572.00 |
6.0 |
4.1 |
1.17 |
5.6 |
117 |
2005 |
1.35 |
7.05 |
8.11 |
|
|
Caracol |
| CRSX23-16 |
584.00 |
618.50 |
34.5 |
23.6 |
1.07 |
5.4 |
144 |
2907 |
1.29 |
37.06 |
44.68 |
4.5m @ 2.36g/t Au
1.5m @ 2.02g/t Au
1.5m @ 3.53g/t Au
1.5m @ 3.09g/t Au |
|
Caracol |
| CRSX23-16 |
626.00 |
628.05 |
2.0 |
1.4 |
1.69 |
5.4 |
258 |
10615 |
2.29 |
3.47 |
4.70 |
|
|
Caracol |
| CRSX23-16 |
634.10 |
634.85 |
0.8 |
0.5 |
3.59 |
80.6 |
1170 |
91700 |
9.03 |
2.69 |
6.77 |
|
|
Indidura |
| CRSX23-16A |
423.00 |
424.50 |
1.5 |
1.1 |
2.58 |
26.3 |
122 |
1500 |
2.98 |
3.87 |
4.47 |
1.5m @ 2.58g/t Au |
|
Caracol |
| CRSX23-16A |
431.90 |
494.50 |
62.6 |
47.4 |
1.62 |
6.9 |
81 |
2046 |
1.81 |
101.45 |
113.35 |
6m @ 7.72g/t Au
1.5m @ 2.14g/t Au
0.9m @ 6g/t Au |
1.5m @ 18.05g/t Au
1.5m @ 10.95g/t Au |
Caracol |
| CRSX23-16A |
506.50 |
522.00 |
15.5 |
11.4 |
1.02 |
8.2 |
133 |
5341 |
1.39 |
15.83 |
21.53 |
1.55m @ 2.13g/t Au |
|
Caracol |
| CRSX23-16A |
532.50 |
535.50 |
3.0 |
2.2 |
2.29 |
15.3 |
273 |
23170 |
3.60 |
6.86 |
10.79 |
1.5m @ 3.17g/t Au |
|
Caracol |
| CRSX23-16A |
546.25 |
561.40 |
15.2 |
11.1 |
1.13 |
7.7 |
166 |
2700 |
1.37 |
17.14 |
20.80 |
1.85m @ 2.7g/t Au
1.5m @ 2.34g/t Au |
|
Caracol |
| CRSX23-16A |
573.50 |
575.00 |
1.5 |
1.1 |
1.31 |
2.8 |
140 |
7200 |
1.70 |
1.97 |
2.55 |
|
|
Caracol |
| CRSX23-16A |
592.00 |
595.00 |
3.0 |
2.2 |
1.41 |
13.5 |
122 |
2990 |
1.73 |
4.24 |
5.19 |
|
|
Caracol |
| CRSX23-16A |
601.50 |
606.00 |
4.5 |
3.3 |
1.89 |
3.9 |
125 |
2641 |
2.08 |
8.49 |
9.34 |
1.5m @ 3.43g/t Au |
|
Caracol |
| CRSX23-17A |
478.00 |
479.50 |
1.5 |
1.4 |
1.46 |
27.6 |
166 |
5040 |
2.05 |
2.19 |
3.08 |
|
|
Caracol |
| CRSX23-17A |
485.50 |
497.50 |
12.0 |
11.2 |
1.04 |
18.2 |
85 |
2382 |
1.38 |
12.42 |
16.52 |
|
|
Caracol |
| CRSX23-17A |
502.00 |
526.50 |
24.5 |
22.8 |
3.18 |
10.3 |
134 |
3432 |
3.49 |
78.01 |
85.44 |
15.5m @ 4.67g/t Au |
0.65m @ 51.2g/t Au |
Caracol |
| CRSX23-17A |
537.00 |
538.50 |
1.5 |
1.4 |
1.18 |
2.8 |
81 |
1625 |
1.30 |
1.77 |
1.95 |
|
|
Caracol |
| CRSX23-17A |
546.00 |
562.50 |
16.5 |
15.3 |
1.92 |
7.8 |
131 |
5263 |
2.28 |
31.66 |
37.57 |
13.5m @ 2.05g/t Au |
|
Caracol |
| CRSX23-17A |
570.00 |
583.00 |
13.0 |
12.0 |
2.14 |
7.7 |
123 |
4320 |
2.45 |
27.80 |
31.86 |
7m @ 3.15g/t Au |
|
Caracol |
| CRSX23-17A |
593.50 |
616.50 |
23.0 |
21.2 |
2.18 |
4.5 |
112 |
1236 |
2.31 |
50.17 |
53.12 |
20m @ 2.32g/t Au |
|
Caracol |
| CRSX23-17A |
627.96 |
646.50 |
18.5 |
17.1 |
1.47 |
6.0 |
182 |
2842 |
1.70 |
27.28 |
31.56 |
7.5m @ 2.51g/t Au |
|
Caracol |
| CRSX23-17A |
664.50 |
684.00 |
19.5 |
18.0 |
1.72 |
9.7 |
169 |
1777 |
1.94 |
33.50 |
37.84 |
9m @ 2.25g/t Au
1.5m @ 3.43g/t Au |
|
Caracol |
| CRSX23-17A |
693.00 |
706.50 |
13.5 |
12.4 |
1.17 |
19.3 |
263 |
3658 |
1.61 |
15.80 |
21.73 |
1.5m @ 4.44g/t Au |
|
Caracol |
| CRSX23-17A |
724.20 |
733.50 |
9.3 |
8.6 |
1.94 |
26.4 |
366 |
2655 |
2.43 |
18.00 |
22.58 |
4.8m @ 3.1g/t Au |
|
724.2 - 727.75 FG Intrusives - hdb-bi-pl
727.75 - 733.5 Caracol |
| CRSX23-17A |
741.00 |
742.50 |
1.5 |
1.4 |
2.28 |
13.3 |
224 |
3090 |
2.62 |
3.42 |
3.92 |
1.5m @ 2.28g/t Au |
|
Caracol |
| CRSX23-17A |
754.50 |
766.50 |
12.0 |
11.0 |
4.18 |
41.0 |
254 |
4167 |
4.91 |
50.21 |
58.88 |
12m @ 4.18g/t Au |
1.5m @ 23.7g/t Au |
Caracol |
| CRSX23-17B |
445.20 |
446.50 |
1.3 |
1.1 |
1.69 |
12.5 |
106 |
1980 |
1.94 |
2.19 |
2.53 |
|
|
Breccia |
| CRSX23-17B |
460.00 |
461.50 |
1.5 |
1.3 |
1.40 |
3.1 |
40 |
103 |
1.45 |
2.10 |
2.17 |
|
|
Caracol |
| CRSX23-17B |
475.00 |
478.00 |
3.0 |
2.6 |
2.36 |
51.0 |
190 |
7195 |
3.33 |
7.07 |
9.99 |
1.5m @ 3.43g/t Au |
|
Caracol |
| CRSX23-17B |
486.50 |
488.40 |
1.9 |
1.6 |
3.27 |
72.8 |
233 |
10137 |
4.66 |
6.22 |
8.85 |
1.9m @ 3.27g/t Au |
|
Caracol |
| CRSX23-17B |
505.00 |
527.50 |
22.5 |
19.2 |
1.81 |
4.6 |
130 |
2971 |
2.02 |
40.74 |
45.53 |
4.5m @ 2.28g/t Au
1.5m @ 2.08g/t Au
6m @ 3.55g/t Au |
|
Caracol |
| CRSX23-17B |
538.00 |
545.50 |
7.5 |
6.4 |
1.17 |
9.7 |
123 |
3516 |
1.47 |
8.79 |
11.02 |
1.5m @ 2.46g/t Au |
|
Caracol |
| CRSX23-17B |
559.00 |
569.50 |
10.5 |
8.9 |
4.38 |
18.8 |
143 |
1714 |
4.71 |
46.01 |
49.44 |
10.5m @ 4.38g/t Au |
1.5m @ 16.95g/t Au |
Caracol |
| CRSX23-17B |
595.00 |
596.50 |
1.5 |
1.3 |
1.31 |
1.2 |
62 |
192 |
1.34 |
1.97 |
2.01 |
|
|
Caracol |
| CRSX23-17B |
602.50 |
604.00 |
1.5 |
1.3 |
1.37 |
5.0 |
181 |
1410 |
1.52 |
2.06 |
2.28 |
|
|
Caracol |
| CRSX23-17B |
611.50 |
638.50 |
27.0 |
22.8 |
2.59 |
4.5 |
148 |
2551 |
2.78 |
69.90 |
75.13 |
27m @ 2.59g/t Au |
|
Caracol |
| CRSX23-17B |
674.50 |
676.00 |
1.5 |
1.3 |
1.87 |
1.6 |
44 |
2360 |
2.00 |
2.80 |
3.00 |
|
|
Caracol |
| CRSX23-17B |
686.50 |
688.00 |
1.5 |
1.3 |
3.27 |
7.9 |
221 |
2370 |
3.51 |
4.91 |
5.26 |
1.5m @ 3.27g/t Au |
|
Caracol |
| CRSX23-17B |
697.00 |
708.40 |
11.4 |
9.6 |
2.15 |
30.3 |
437 |
8490 |
2.97 |
24.46 |
33.84 |
9.9m @ 2.3g/t Au |
|
Caracol |
| CRSX23-17B |
716.73 |
719.00 |
2.3 |
1.9 |
1.19 |
27.2 |
668 |
3051 |
1.76 |
2.71 |
3.99 |
|
|
Caracol |
| CRSX23-17B |
726.50 |
731.00 |
4.5 |
3.8 |
1.55 |
23.9 |
370 |
4470 |
2.09 |
6.95 |
9.42 |
1.5m @ 2.11g/t Au
1.5m @ 2.42g/t Au |
|
Caracol |
| CRSX23-17B |
737.00 |
738.50 |
1.5 |
1.3 |
1.06 |
35.0 |
215 |
1810 |
1.59 |
1.58 |
2.38 |
|
|
Caracol |
| CRSX23-17B |
760.50 |
762.00 |
1.5 |
1.3 |
1.58 |
11.0 |
352 |
3320 |
1.91 |
2.36 |
2.87 |
|
|
Porph Intrusives - hdb-bi-pl |
| CRSX23-17C |
475.60 |
475.95 |
0.3 |
0.3 |
4.31 |
28.0 |
393 |
554 |
4.73 |
1.51 |
1.65 |
|
|
Caracol |
| CRSX23-17C |
495.50 |
524.50 |
29.0 |
24.8 |
3.16 |
17.3 |
140 |
3552 |
3.56 |
91.77 |
103.19 |
24.5m @ 3.57g/t Au |
0.65m @ 16.1g/t Au |
Caracol |
| CRSX23-17C |
536.50 |
578.50 |
42.0 |
33.3 |
3.05 |
4.2 |
99 |
1901 |
3.21 |
128.31 |
134.76 |
34.5m @ 3.48g/t Au |
1.5m @ 16.4g/t Au
1.5m @ 11.75g/t Au
1.5m @ 25.6g/t Au |
Caracol |
| CRSX23-17C |
590.50 |
598.00 |
7.5 |
5.9 |
1.20 |
6.0 |
160 |
3907 |
1.48 |
9.03 |
11.11 |
1.5m @ 2.07g/t Au |
|
Caracol |
| CRSX23-17C |
605.50 |
608.50 |
3.0 |
2.4 |
2.31 |
6.5 |
178 |
2593 |
2.53 |
6.92 |
7.59 |
1.5m @ 2.89g/t Au |
|
Caracol |
| CRSX23-17C |
620.50 |
628.00 |
7.5 |
5.9 |
1.17 |
2.1 |
85 |
1562 |
1.28 |
8.76 |
9.59 |
1.5m @ 3.36g/t Au |
|
Caracol |
| CRSX23-17C |
650.50 |
652.00 |
1.5 |
1.2 |
2.64 |
3.7 |
47 |
512 |
2.71 |
3.96 |
4.07 |
1.5m @ 2.64g/t Au |
|
Caracol |
| CRSX23-17C |
667.00 |
668.50 |
1.5 |
1.2 |
1.01 |
1.0 |
36 |
70 |
1.03 |
1.51 |
1.54 |
|
|
Caracol |
| CRSX23-17C |
683.50 |
685.00 |
1.5 |
1.2 |
1.75 |
6.3 |
121 |
5890 |
2.11 |
2.62 |
3.17 |
|
|
Caracol |
| CRSX23-17C |
695.50 |
697.00 |
1.5 |
1.2 |
1.65 |
5.3 |
143 |
3360 |
1.89 |
2.48 |
2.84 |
|
|
Caracol |
| CRSX23-17C |
709.00 |
710.50 |
1.5 |
1.2 |
1.46 |
4.4 |
285 |
980 |
1.60 |
2.19 |
2.40 |
|
|
Caracol |
| CRSX23-17C |
730.00 |
731.50 |
1.5 |
1.2 |
2.66 |
12.3 |
346 |
3800 |
3.03 |
3.99 |
4.55 |
1.5m @ 2.66g/t Au |
|
Indidura |
| CRSX23-17C |
734.50 |
736.00 |
1.5 |
1.2 |
1.03 |
8.9 |
331 |
6270 |
1.47 |
1.54 |
2.21 |
|
|
Indidura |
| CRSX23-17C |
739.00 |
739.60 |
0.6 |
0.5 |
3.07 |
108.0 |
935 |
5350 |
4.75 |
1.84 |
2.85 |
|
|
Indidura |
| CRSX23-17C |
754.50 |
756.00 |
1.5 |
1.2 |
1.31 |
7.0 |
462 |
6160 |
1.74 |
1.96 |
2.61 |
|
|
Indidura |
| CRSX23-17C |
773.70 |
774.20 |
0.5 |
0.4 |
4.22 |
83.6 |
6230 |
14900 |
6.78 |
2.11 |
3.39 |
|
|
Indidura |
| CRSX23-17C |
780.90 |
781.90 |
1.0 |
0.8 |
2.28 |
30.4 |
909 |
20900 |
3.75 |
2.28 |
3.75 |
|
|
Indidura |
| CRSX23-17C |
791.00 |
792.50 |
1.5 |
1.2 |
1.27 |
8.3 |
271 |
1070 |
1.45 |
1.90 |
2.18 |
|
|
Indidura |
| CRSX23-17C |
798.50 |
800.00 |
1.5 |
1.2 |
3.46 |
81.9 |
1570 |
13300 |
5.28 |
5.19 |
7.93 |
1.5m @ 3.46g/t Au |
|
Indidura |
| CRSX23-17C |
815.00 |
816.70 |
1.7 |
1.3 |
10.55 |
8.4 |
232 |
2380 |
10.79 |
17.94 |
18.35 |
1.7m @ 10.55g/t Au |
1.7m @ 10.55g/t Au |
Porph Intrusives - hdb-bi-pl |
| CRSX23-17C |
825.70 |
853.00 |
27.3 |
21.9 |
1.89 |
8.8 |
641 |
5903 |
2.36 |
51.65 |
64.52 |
1.5m @ 3.01g/t Au
5.05m @ 5.49g/t Au |
1m @ 20.2g/t Au |
Indidura |
| CRSX23-18 |
448.50 |
450.00 |
1.5 |
1.0 |
3.83 |
59.0 |
209 |
5540 |
4.83 |
5.75 |
7.24 |
1.5m @ 3.83g/t Au |
|
Caracol |
| CRSX23-18 |
457.50 |
472.50 |
15.0 |
9.9 |
1.59 |
27.1 |
146 |
3835 |
2.11 |
23.81 |
31.69 |
1.5m @ 3.86g/t Au
3m @ 2.82g/t Au |
|
Caracol |
| CRSX23-18 |
484.50 |
486.00 |
1.5 |
1.0 |
1.75 |
6.5 |
76 |
3970 |
2.02 |
2.62 |
3.03 |
|
|
Caracol |
| CRSX23-18 |
489.00 |
507.00 |
18.0 |
11.8 |
1.16 |
2.7 |
54 |
2206 |
1.30 |
20.84 |
23.42 |
1.5m @ 5.19g/t Au
1.5m @ 2.32g/t Au |
|
Caracol |
| CRSX23-18 |
531.00 |
552.00 |
21.0 |
13.6 |
2.21 |
8.7 |
142 |
4755 |
2.55 |
46.33 |
53.62 |
10.5m @ 3.67g/t Au |
|
Caracol |
| CRSX23-18 |
562.50 |
586.50 |
24.0 |
15.5 |
1.89 |
5.7 |
180 |
3578 |
2.15 |
45.43 |
51.72 |
3.05m @ 9.1g/t Au
1.5m @ 2.8g/t Au |
1.55m @ 10.15g/t Au |
562.5 - 564.3 Caracol
564.3 - 566.95 Breccia
566.95 - 586.5 Caracol |
| CRSX23-18 |
622.50 |
627.00 |
4.5 |
2.9 |
2.81 |
3.4 |
220 |
2579 |
3.00 |
12.65 |
13.51 |
1.5m @ 6.86g/t Au |
|
Caracol |
| CRSX23-18 |
636.00 |
651.00 |
15.0 |
9.6 |
1.60 |
10.5 |
216 |
1283 |
1.81 |
23.94 |
27.17 |
6m @ 2.55g/t Au |
|
Indidura |
| CRSX23-18 |
673.00 |
681.50 |
8.5 |
8.2 |
2.88 |
19.7 |
279 |
8014 |
3.53 |
24.44 |
29.99 |
1.25m @ 14.75g/t Au |
1.25m @ 14.75g/t Au |
Indidura |
| CRSX23-18 |
692.00 |
693.50 |
1.5 |
1.4 |
1.19 |
2.4 |
64 |
1035 |
1.28 |
1.79 |
1.91 |
|
|
Indidura |
| CRSX23-18A |
421.50 |
432.00 |
10.5 |
7.7 |
1.31 |
3.5 |
47 |
1443 |
1.43 |
13.79 |
15.01 |
4.5m @ 2.28g/t Au |
|
Caracol |
| CRSX23-18A |
439.50 |
454.50 |
15.0 |
11.0 |
2.33 |
10.0 |
126 |
5237 |
2.72 |
35.02 |
40.77 |
7.5m @ 3.59g/t Au |
1.5m @ 10.35g/t Au |
Caracol |
| CRSX23-18A |
462.00 |
463.50 |
1.5 |
1.1 |
5.88 |
19.4 |
327 |
3720 |
6.33 |
8.82 |
9.50 |
1.5m @ 5.88g/t Au |
|
Caracol |
| CRSX23-18A |
474.00 |
475.50 |
1.5 |
1.1 |
2.27 |
29.5 |
230 |
24600 |
3.81 |
3.41 |
5.72 |
1.5m @ 2.27g/t Au |
|
Caracol |
| CRSX23-18A |
489.00 |
490.50 |
1.5 |
1.1 |
1.16 |
3.9 |
108 |
1130 |
1.27 |
1.73 |
1.90 |
|
|
Caracol |
| CRSX23-18A |
493.50 |
495.00 |
1.5 |
1.1 |
1.01 |
1.1 |
46 |
733 |
1.06 |
1.51 |
1.59 |
|
|
Caracol |
| CRSX23-18A |
508.50 |
529.50 |
21.0 |
15.4 |
1.71 |
12.6 |
173 |
3243 |
2.04 |
35.96 |
42.84 |
13.5m @ 2.14g/t Au |
|
508.5 - 516.9 Caracol
516.9 - 517.55 Breccia
517.55 - 529.5 Caracol |
| CRSX23-18A |
549.00 |
550.50 |
1.5 |
1.1 |
4.42 |
19.2 |
332 |
1900 |
4.79 |
6.63 |
7.18 |
1.5m @ 4.42g/t Au |
|
Caracol |
| CRSX23-18A |
559.50 |
627.50 |
68.0 |
49.7 |
1.10 |
2.4 |
128 |
1553 |
1.22 |
75.08 |
83.17 |
9m @ 2.4g/t Au
3m @ 2.6g/t Au
1.5m @ 5.66g/t Au |
|
Caracol |
| CRSX23-18A |
685.00 |
686.50 |
1.5 |
1.4 |
2.68 |
31.3 |
685 |
17250 |
3.96 |
4.02 |
5.94 |
1.5m @ 2.68g/t Au |
|
Indidura |
| CRSX23-18A |
693.30 |
708.00 |
14.7 |
13.9 |
1.25 |
21.0 |
457 |
6920 |
1.89 |
18.35 |
27.76 |
1.05m @ 7.41g/t Au
1.5m @ 3.38g/t Au |
|
Indidura |
| CRSX23-19 |
426.00 |
427.50 |
1.5 |
1.2 |
1.12 |
2.8 |
38 |
232 |
1.16 |
1.67 |
1.75 |
|
|
Caracol |
| CRSX23-19 |
444.00 |
453.00 |
9.0 |
6.9 |
1.84 |
10.8 |
56 |
2252 |
2.08 |
16.56 |
18.75 |
6m @ 2.09g/t Au
1.5m @ 2.27g/t Au |
|
Caracol |
| CRSX23-19 |
463.50 |
472.50 |
9.0 |
6.9 |
1.27 |
5.1 |
71 |
2233 |
1.44 |
11.40 |
12.98 |
3m @ 2.42g/t Au
1.5m @ 2.21g/t Au |
|
Caracol |
| CRSX23-19 |
481.50 |
493.50 |
12.0 |
9.2 |
1.40 |
7.1 |
85 |
2954 |
1.63 |
16.75 |
19.57 |
3m @ 2.12g/t Au
1.5m @ 3.27g/t Au |
|
Caracol |
| CRSX23-19 |
508.50 |
541.50 |
33.0 |
25.1 |
1.81 |
13.0 |
162 |
2126 |
2.08 |
59.61 |
68.79 |
7.5m @ 3.82g/t Au
1.5m @ 3.55g/t Au
1.5m @ 2.1g/t Au |
|
508.5 - 512.6 Caracol
512.6 - 514.5 Breccia
514.5 - 541.5 Caracol |
| CRSX23-19 |
552.00 |
553.50 |
1.5 |
1.1 |
2.65 |
4.6 |
203 |
2590 |
2.85 |
3.98 |
4.28 |
1.5m @ 2.65g/t Au |
|
Caracol |
| CRSX23-19 |
565.50 |
568.50 |
3.0 |
2.3 |
1.74 |
2.1 |
88 |
3160 |
1.93 |
5.23 |
5.79 |
|
|
Caracol |
| CRSX23-19 |
580.50 |
585.00 |
4.5 |
3.4 |
1.30 |
4.0 |
122 |
1720 |
1.44 |
5.83 |
6.49 |
1.5m @ 2.3g/t Au |
|
Caracol |
| CRSX23-19 |
607.50 |
610.50 |
3.0 |
2.3 |
1.35 |
3.3 |
146 |
625 |
1.43 |
4.04 |
4.30 |
|
|
Caracol |
| CRSX23-19 |
613.50 |
620.00 |
6.5 |
5.0 |
1.01 |
1.3 |
105 |
989 |
1.09 |
6.56 |
7.06 |
|
|
Caracol |
| 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 |
| Price Assumptions: Au = 1750usd oz, Ag = 21usd oz, Cu = 3.5usd lb, Zn = 1.2usd lb |
| FR= Fresh Rock, OX= Oxide, TROL= Transition Oxide Low, TROH= Transition Oxide High, MX= Mixed, TRSX= Transition Sulphide, SX= Sulphide |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Table 2: Camino Rojo Regional Program Composite Drill Results
| HOLE-ID |
From
(m) |
To
(m) |
Core Length
(m) |
Au
g/t |
Ag
g/t |
Pb
ppm |
Zn
ppm |
Au GXM |
Including
0.5g/t Au COG |
Including
1g/t Au COG |
Met Code |
| CRED23-02 |
553.00 |
553.90 |
0.9 |
0.27 |
0.3 |
14.0 |
272.0 |
0.2 |
|
|
553 - 553.86 SX
553.86 - 553.9 TROH |
| CRED23-02 |
614.50 |
616.00 |
1.5 |
0.11 |
0.3 |
13.0 |
160.0 |
0.2 |
|
|
SX |
| CRED23-02 |
631.20 |
632.50 |
1.3 |
0.22 |
0.3 |
10.0 |
167.0 |
0.3 |
|
|
SX |
| CRED23-03 |
422.20 |
422.50 |
0.3 |
0.52 |
0.5 |
18.0 |
166.0 |
0.2 |
|
|
SX |
| CRED23-03 |
494.00 |
495.50 |
1.5 |
0.18 |
0.5 |
3.0 |
219.0 |
0.3 |
|
|
SX |
| CRED23-04 |
40.50 |
42.00 |
1.5 |
0.11 |
7.1 |
163.0 |
2240.0 |
0.2 |
|
|
|
| CRED23-04 |
181.90 |
182.70 |
0.8 |
0.26 |
93.8 |
5200.0 |
2180.0 |
0.2 |
|
|
SX |
| CRED23-05 |
167.00 |
168.50 |
1.5 |
0.12 |
1.6 |
54.0 |
71.0 |
0.2 |
|
|
OX |
| CRED23-05 |
195.70 |
199.00 |
3.3 |
0.94 |
4.4 |
81.0 |
268.5 |
3.1 |
3.3m @ 0.94g/t Au |
1.65m @ 1.08g/t Au |
SX |
| CRED23-05 |
257.00 |
260.90 |
3.9 |
0.16 |
1.0 |
35.5 |
110.7 |
0.6 |
|
|
SX |
| CRED23-05 |
279.50 |
290.00 |
10.5 |
0.69 |
1.2 |
60.0 |
202.9 |
7.3 |
1.5m @ 4.02g/t Au |
1.5m @ 4.02g/t Au |
SX |
| CRED23-05 |
313.50 |
319.85 |
6.4 |
0.41 |
0.7 |
12.9 |
500.8 |
2.6 |
1.5m @ 1.3g/t Au |
1.5m @ 1.3g/t Au |
SX |
| CRED23-05 |
354.50 |
366.95 |
12.5 |
0.11 |
0.5 |
23.9 |
337.3 |
1.3 |
|
|
SX |
| CRED23-05 |
400.00 |
411.70 |
11.7 |
0.10 |
0.7 |
13.9 |
71.6 |
1.2 |
|
|
SX |
| CRED23-05 |
413.50 |
414.60 |
1.1 |
0.15 |
0.6 |
7.0 |
143.0 |
0.2 |
|
|
SX |
| CRED23-05 |
469.70 |
470.70 |
1.0 |
0.18 |
0.6 |
90.0 |
40.0 |
0.2 |
|
|
469.7 - 469.8 TRSX
469.8 - 470.7 SX |
| CRED23-06 |
68.50 |
70.00 |
1.5 |
0.12 |
0.7 |
70.0 |
1275.0 |
0.2 |
|
|
SX |
| CRED23-06 |
258.50 |
260.00 |
1.5 |
0.16 |
0.7 |
20.0 |
694.0 |
0.2 |
|
|
SX |
| CRED23-06 |
279.50 |
281.00 |
1.5 |
2.72 |
0.9 |
18.0 |
1200.0 |
4.1 |
1.5m @ 2.72g/t Au |
1.5m @ 2.72g/t Au |
SX |
| CRED23-06 |
300.70 |
302.00 |
1.3 |
61.20 |
0.8 |
22.0 |
182.0 |
79.6 |
1.3m @ 61.2g/t Au |
1.3m @ 61.2g/t Au |
TRSX |
| CRED23-06 |
329.70 |
331.30 |
1.6 |
0.17 |
2.1 |
33.0 |
378.0 |
0.3 |
|
|
SX |
| CRED23-06 |
345.90 |
347.30 |
1.4 |
0.19 |
0.3 |
7.9 |
45.9 |
0.3 |
|
|
SX |
| CRED23-06 |
377.00 |
378.50 |
1.5 |
0.11 |
0.3 |
17.0 |
41.0 |
0.2 |
|
|
SX |
| CRED23-06 |
411.50 |
434.50 |
23.0 |
0.12 |
1.6 |
27.8 |
106.9 |
2.8 |
|
|
SX |
| CRED23-06 |
583.50 |
588.40 |
4.9 |
0.16 |
5.0 |
39.7 |
267.5 |
0.8 |
|
|
SX |
| CRED23-07 |
49.00 |
50.50 |
1.5 |
0.15 |
0.3 |
8.0 |
897.0 |
0.2 |
|
|
SX |
| Criteria: Cut off grade 0.1g/t Au, minimum length 1.5m, maximum consecutive internal waste 6m, if Au grade x length > 0.15 the composite will be added |
FR= Fresh Rock, OX= Oxide, TROL= Transition Oxide Low, TROH= Transition Oxide High, MX= Mixed, TRSX= Transition Sulphide, SX= Sulphide
|
Table 3: Camino Rojo Drill Hole Collars
| Drillhole |
Easting |
Northing |
Elevation |
Azimuth |
Dip |
Depth (m) |
| CRED23-02 |
250238 |
2680279 |
1914 |
180 |
-65 |
641 |
| CRED23-03 |
250238 |
2680277 |
1914 |
140 |
-60 |
602 |
| CRED23-04 |
250501 |
2679986 |
1902 |
150 |
-60 |
368 |
| CRED23-05 |
250001 |
2679984 |
1914 |
190 |
-80 |
552 |
| CRED23-06 |
249998 |
2679760 |
1909 |
330 |
-60 |
630 |
| CRED23-07 |
249996 |
2679761 |
1909 |
150 |
-60 |
470 |
| CRSX22-11 |
243971 |
2676122 |
1948 |
146 |
-60 |
520 |
| CRSX22-12A |
243872 |
2676088 |
1950 |
149 |
-65 |
540 |
| CRSX22-13 |
243713 |
2676055 |
1952 |
140 |
-65 |
620 |
| CRSX23-14 |
244058 |
2676260 |
1948 |
154 |
-89 |
662 |
| CRSX23-14A |
244058 |
2676260 |
1948 |
154 |
-80 |
560 |
| CRSX23-15 |
243580 |
2676157 |
1954 |
158 |
-74 |
729 |
| CRSX23-15C |
243580 |
2676157 |
1954 |
160 |
-65 |
1051 |
| CRSX23-16 |
243997 |
2676282 |
1948 |
154 |
-85 |
640 |
| CRSX23-16A |
243997 |
2676282 |
1948 |
154 |
-78 |
610 |
| CRSX23-17A |
243665 |
2676155 |
1953 |
157 |
-45 |
780 |
| CRSX23-17B |
243665 |
2676155 |
1953 |
161 |
-55 |
780 |
| CRSX23-17C |
243665 |
2676155 |
1953 |
159 |
-64 |
860 |
| CRSX23-18 |
243932 |
2676281 |
1949 |
151 |
-78 |
700 |
| CRSX23-18A |
243932 |
2676281 |
1949 |
151 |
-72 |
719 |
| CRSX23-19 |
243902 |
2676281 |
1949 |
157 |
-68 |
620 |
| _______________________________ |
| 1 All metres reported above are down-hole intervals, with true width estimates ranging from 62-97% 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 4 out of 3,143 samples from the Sulphides program and 1 out of 2,300 samples for the regional program exceeded the potential capping level of 27.0 g/t - these samples averaged 44.1 g/t gold (max. 62.1 g/t) for the Sulphides program and 61.2 g/t gold (max 61.2 g/t) for the regional program. 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 (the "Camino Rojo Report"). |
SOURCE Orla Mining Ltd.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/June2023/22/c7431.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 06:30e 22-JUN-23
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