VANCOUVER, BC, Aug. 24, 2020 /CNW/ - Orla Mining Ltd.
(TSX: OLA) ("Orla" or the "Company") is pleased to announce that
Sylvain Guerard has been appointed
as Senior Vice President, Exploration, effective August 24, 2020.
"We are excited to welcome Sylvain to the Orla team. The
addition of this capable individual reinforces our commitment to
focus on exploration within our 178,000 hectares of concessions.
These concessions are situated along the prolific San Tiburcio fault system in Zacatecas, Mexico, and within a geologically
prospective area for copper and gold in southwestern Panama. We expect to continue to make more
discoveries, expand our resource base, and advance our project
pipeline to create value", stated Jason
Simpson, President and Chief Executive Officer of Orla.
Mr. Guerard brings to Orla 30 years of global mining industry
experience having worked in various roles at companies including
Barrick Gold, Kinross Gold, and Inmet Mining. He has led teams
in the successful discovery of mineral deposits and resource
expansions. Mr. Guerard was recently Senior Vice-President,
Exploration at McEwen Mining where he oversaw exploration
activities across the Americas. He holds a Bachelor of Science
(B.Sc.), Geology, from the University of
Montreal.
Orla continues to advance its project pipeline in Mexico and Panama through various exploration programs on
its prospective land packages.
In Mexico, where Orla is
developing the Camino Rojo Oxide Gold Project, the Company has
commenced a 6,000-metre regional reverse circulation (RC) drilling
program to test geophysical induced polarization (IP) anomalies in
three areas. Orla plans an additional 3,000 metres of diamond
drilling to follow-up on any significant mineralization
encountered. Mechanical trenching is being undertaken in an area
where hydrothermal alteration was found in rock outcrops, with nine
of ten trenches completed. A 5,000-metre diamond drilling program
is also planned in the fourth quarter of 2020 to support the next
stage of metallurgical testing on the 7.3 million ounces of gold in
sulphide material (Measured and Indicated Mineral Resource of 258.8
Mt at 0.88 g/t Au)i occurring below the planned oxide
open pit.
In Panama, Orla expects to
resume exploration drilling in the coming weeks. The program is
intended to test targets for additional gold oxide mineralization
proximal to the existing mineral reserves, which could potentially
add to the projected mine life at Cerro Quema. The program also
plans to test targets for copper-gold sulphide material similar to
the Caballito discovery made in 2017. Results of this program will
be included in the maiden copper-gold mineral resource estimate for
Caballito. Work is underway to update the 2014 pre-feasibility
study for the Cerro Quema Oxide Project to enable a construction
decision in 2021.
About Orla Mining Ltd.
Orla is developing the Camino Rojo Oxide Gold Project, an
advanced gold and silver open-pit and heap leach project, located
in Zacatecas State, Central
Mexico. The project is 100% owned by Orla and covers over
160,000 hectares. The technical report entitled "Feasibility Study,
NI 43-101 Technical Report on the Camino Rojo Gold Project —
Municipality of Mazapil, Zacatecas,
Mexico" dated June 25, 2019 is
available on SEDAR under the Company's profile as well as on Orla's
website at www.orlamining.com. Orla also owns 100% of the
Cerro Quema Project located in Panama which includes a near-term gold
production scenario and various exploration targets. The Cerro
Quema Project is a proposed open pit mine and gold heap leach
operation. Please refer to the "Cerro Quema Project -
Pre-feasibility Study on the La Pava and Quemita Oxide Gold
Deposits" dated August 15, 2014,
which is available on SEDAR.
Forward-looking Statements
This news release contains certain "forward-looking
statements" within the meaning of Canadian and United States securities legislation,
including, without limitation, statements with respect to the
timing of meeting certain conditions with respect to the approval
of the MIA, the timing of commencement of construction activities,
the results of exploration and planned exploration programs, the
potential for discovery of additional mineral resources and the
Company's objectives and strategies. 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 are discussed in this news release,
including without limitation, assumptions that all conditions of
the MIA will be met, the Company's activities will be in accordance
with the Company's public statements and stated goals; that there
will be no material adverse change affecting the Company or its
properties; that all required approvals will be obtained 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: risks related to uncertainties
inherent in the preparation of feasibility studies, drill results
and the estimation of mineral reserves and mineral resources; and
risks associated with executing the Company's objectives and
strategies, including costs and expenses. 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.
_______________________________
|
i .
|
Please refer to
"Camino Rojo Project Feasibility Study NI 43-101 Technical Report",
dated effective June 25, 2019.
|
SOURCE Orla Mining Ltd.