Mr. Marc Prefontaine reports
ORLA INTERSECTS 102.5 METRES GRADING 0.46 G/T AU AND 1.21% CU AT THE CERRO QUEMA PROJECT, PANAMA
Orla Mining Ltd. is providing new results from the 2017 drill program at its wholly owned Cerro Quema project in Panama.Highlights are from the last two holes drilled in the Caballito copper-gold zone.Hole CQDH17-148 intersected 102.5 metres grading 0.46 gram per tonne gold and 1.21 per cent copper, and hole CQDH17-142 intersected 87.9 m grading 0.36 g/t Au and 0.74 per cent Cu and 52.8 m grading 0.2 g/t Au and 0.52 per cent Cu.
Au-Cu zone
Results from holes CQDH17-142 through 150 are reported herein.
Hole CQDH17-142 was drilled 100 m north of previously reported CQDH17-136 which intersected 158.7 metres grading 0.62 g/t Au and 0.62 per cent Cu (see news release dated Nov. 30, 2017).In CQDH17-142, an upper intersection from 81.1 to 169.0 m averaged 0.36 g/t Au and 0.74 per cent Cu.This included two intervals of high copper values: 9.5 m at 0.61 g/t Au and 2.07 per cent Cu and 4.1 m at 0.59 g/t Au and 3.29 per cent Cu.A weakly mineralized dike separated the upper intersection from a lower intersection from 194.7 to 247.5 m averaging 0.2 g/t Au and 0.52 per cent Cu.
Hole CQDH17-148 was drilled to test the core of a geophysical electromagnetic anomaly.The collar of this hole was 115 metres southwest of the collar of CQDH17-136 and 120 metres west of previously reported CQDH17-116 (49.0 m at 0.50 g/t Au and 1.39 per cent Cu and 55.8 m at 0.28 g/t Au and 1.99 per cent Cu in two intercepts separated by 28.7 m of low-grade material -- see news release dated Sept. 15, 2017). CQDH17-148 had an upper oxide intersection from 6.0 to 16.0 m that averaged 0.70 g/t Au over 11.0 m.From 71.5 to 174.0 m, the hole intersected 102.5 m averaging 0.46 g/t Au and 1.21 per cent Cu, including a higher-grade portion with 8.1 m at 2.31 g/t Au and 3.21 per cent Cu.The hole then went into an 81.1 m lower-grade interval from 174.0 to 255.1 m that averaged 0.2 g/t Au and 0.24 per cent Cu.
The geometry, and thus true width, of mineralization is still unknown.Copper-gold mineralization encountered in CQDH17-142 and 148 appears to include both low and moderate arsenic subtypes, with most higher-grade zones having relatively low arenic.This suggests the existence of two overlapping metal-bearing systems, but further work is required to refine the geologic model for the zone. Additional drilling is required to determine the orientation and extent of the copper-gold values and distribution of mineral types.A 30-line-kilometre grid with 100 mspaced lines is currently being established to allow an induced polarization survey over the area.Drilling will resume in mid-January.
Marc Prefontaine, Orla chief executive officer, stated: "The Caballito Cu-Au zone was an exciting discovery for Orla in 2017 and highlighted the potential for new discoveries at Cerro Quema that add value on top of the existing oxide reserve.We look forward to continued success on this project in 2018."
Holes CQDH17-143 and 144 were drilled in the far western portion of the proposed Quemita pit outlined in the project prefeasibility study (PFS) to see if any of the material modelled as waste had gold values.Neither had a significant intersection.Hole CQDH17-147 intersected 41.5 m of oxide averaging 0.31 g/t Au below the central portion of the PFS pit.Holes CQDH17-150, 152 and 153 were drilled to the north and downslope of the PFS pit.Results from CQDH17-150 showed only weakly anomalous gold.Results from the other two holes are pending.
Six holes were drilled to acquire material for additional metallurgical column test work.Holes CQDH17-145, 146 and 149 were drilled in the Quemita zone.Holes CQDH17-151, 154 and 155, the last hole drilled in 2017, were drilled in the La Pava zone.
A total of 11,895 metres were drilled in 91 holes at Cerro Quema in 2017.
TABLE OF DRILL HOLES RELEASED ON JAN. 8, 2018 HoleFrom (m)To (m) Width (m)Au (g/t)Cu (%)CQDH-17-14281.1 169.087.90.360.74including81.190.6 9.50.612.07including 100.9 105.0 4.10.593.29194.7 247.552.80.200.52CQDH-17-143 No significant intersectionsCQDH-17-144 No significant intersectionsCQMET-17-145Met drill holeCQMET-17-146Met drill holeCQDH-17-14736.077.541.50.31CQDH-17-148 6.017.011.00.70 71.5 174.0 102.50.461.21including81.489.5 8.12.313.21174.0 255.181.10.190.24CQMET-17-149Met drill holeCQDH-17-150 No significant intersectionsCQMET-17-151Met drill holeCQDH-17-152 Assays pendingCQDH-17-153 Assays pendingCQMET-17-154Met drill holeCQMET-17-155Met drill hole
A map showing the location of Caballito holes is posted on the company's website.
Quality control protocols
All gold results were obtained by ALS Minerals (Au-AA23) using fire assay fusion and an atomic absorption spectroscopy finish. All samples are also analyzed for multielements, including silver and copper, using an aqua regia (ME-ICP41) method at ALS Laboratories in Peru. Samples with copper values in excess of 1 per cent by ICP analysis are rerun with Cu AA46 aqua regia and atomic absorption analysis. Drill program design, quality assurance/quality control and interpretation of results are performed by qualified persons employing a quality assurance/quality control program consistent with National Instrument 43-101 and industry best practices. Standards, blanks and duplicates are included approximately one every 25 samples for quality assurance/quality control purposes by the company as well as the lab. Approximately 5 per cent of sample pulps are sent to a secondary laboratory for check assays. The HQ diameter core is halved with a diamond saw.
Qualified person
The technical information in this news release has been reviewed and approved by Hans Smit, PGeo, chief operating officer of Orla Mining, who is the qualified person for the technical information in this news release under NI 43-101 standards.
About Orla Mining Ltd.
The 100-per-cent-owned Cerro Quema project in Panama includes a near-term gold production scenario and significant exploration upside. Cerro Quema's 14,800-hectare 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.
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