(Panama Business News) Orla Mining Ltd. commenced a drilling program at Cerro Quema in
Orla Mining Ltd. has commenced a drilling program at its 100% owned Cerro Quema project in
The initial holes will be targeted on areas proximal to the existing oxide gold
resource that have a high potential to host additional resources. Success in
this part of drilling program may provide material to incorporate into the
current Pre-Feasibility Study mine plan and potentially result in a near-term
increase in the estimated Net Present Value of the project. Panama
As well as drilling, a property-wide geological mapping and sampling program is underway and an IP geophysical survey will be undertaken on priority targets in late January and February. This work is expected to provide new drilling targets for high-sulphidation (HS) related gold along a 15km trend identified to date. There is also excellent potential for other styles of mineralization coincident with the HS mineralization on the 14,800 hectare concession area.
"We are excited to start drilling on new concepts so soon after acquiring the project in December 2016. We believe we have excellent opportunities for increasing the current resource zones and for new discoveries at our largely untested Cerro Quema project," commented Marc Prefontaine, Orla's President and Chief Executive Officer. "We are very systematic in our approach and have identified a series of geological, geochemical and geophysical anomalies that we consider to be highly prospective targets."
A contract for a minimum of 8,000 metres of diamond drilling has been awarded to
One drill has commenced drilling and two more will arrive on the property in
early February. The Company has budgeted for 25,000 metres of drilling in 2017. Energold
de Panama, S.A.
Orla Mining is a mineral exploration company led by a group of seasoned mining executives with strong financial backing. The company's focus is to acquire mineral exploration opportunities where the Company's exploration and development expertise and corporate share structure could substantially enhance shareholder value. The 100% owned Cerro Quema project in
includes a near-term gold production scenario and significant exploration
upside. Cerro Quema's 14,800 Ha concession boasts paved road access, a supportive
local population and private land ownership. The Cerro Quema project is
currently in the last stage of the permitting process for a proposed open pit
mine and gold heap leach operation. Panama