4.66 g/t Au over 64.0
m (Sulphide Zone), 4.02 g/t Au & 1.5% Zn over
22.9 m (Deep
Potential), Regional Program Ramping Up with
Encouraging Results.
VANCOUVER, BC, Jan. 31,
2023 /CNW/ - Orla Mining Ltd. (TSX: OLA)
(NYSE: ORLA) ("Orla" or the "Company") is pleased to provide an
update on its 2022 exploration activities at Camino Rojo and
provide an overview of its 2023 exploration plans in Mexico. Updates on Orla's exploration
activities in Nevada, US and
Panama will be provided in the
first quarter.
2022 Exploration Highlights: Camino
Rojo (Mexico)
Camino Rojo Sulphides: The Sulphide drill program
continued to return higher-grade gold intercepts (>2 g/t) over
wide widths (>30 m). Notable
results include:[1]
- Hole CRSX22-09B: 4.66 g/t Au
over 64.0 m
- Hole CRSX22-09A 2.76 g/t Au over 79.0
m, incl. 3.22 g/t Au over 55.0m
- Hole CRSX22-08C: 2.81 g/t Au over 70.0 m
- Hole CRSX22-10A: 1.92 g/t Au over 87.0 m, incl. 3.14 g/t Au over 25.5 m and 1.74 g/t Au over 73.5m, incl. 2.61 g/t Au over 24.0 m
- Hole CRSX22-09: 3.83 g/t Au over 40.5
m, incl. 9.28 g/t Au over 9.0
m and 6.94 g/t Au over 16.0
m
- Hole CRSX22-08B: 3.78 g/t Au
over 37.0 m
- Hole CRSX22-10: 2.71 g/t Au over 49.5
m, incl. 6.80 g/t Au over 8.0
m
Camino Rojo Deep Potential: Drill results have shown
that gold mineralization extends deeper than the limit of the
current mineral resource. These deeper intercepts suggest gold
mineralization remains open at depth along and adjacent to
interpreted feeder-like structures for the currently defined
Camino Rojo deposit. Notable result include:1
- Hole CRSX22-07: 4.02 g/t Au & 1.5% Zn over 22.9 m, incl. 56.7 g/t Au & 17.2% Zn over
0.6 m
Regional Exploration: Encouraging drill result on
the first diamond drill core hole completed outside the footprint
of the Camino Rojo mine. The Guanamero target area is located
approximately 7 km northeast of the Camino Rojo mine along the mine
structural trend. Notable results include:1
- Hole CRED22-01: 0.54 g/t over 7.10
m, incl. 4.12 g/t over 0.7
m (from 51.4 m) and 1.35
g/t over 2.35 m, incl. 5.59 g/t
over 0.5 m (from 104.95 m)
"The 2022 infill drilling of the sulphide extension of the
Camino Rojo deposit has consistently generated exceptional gold
intersections enhancing future development opportunity scenarios
and potential to grow the resource at depth", stated Sylvain Guerard, Orla's Senior Vice President,
Exploration. "We are excited to advance a full exploration pipeline
in 2023 in an effort to upgrade and expand reserves and resources
and make new discoveries on our large and under explored land
package".
2022 Exploration: Camino Rojo
(Mexico)
Exploration at Camino Rojo in 2022 focused on advancing the
understanding of the sulphide deposit (the "Sulphide Project" or
"Camino Rojo Sulphides") and testing priority regional targets to
make new satellite discoveries.
Near Mine Exploration Results
Drill results at Camino Rojo Sulphides continue to support
potential for underground development
Drilling continues to intercept wide zones of higher-grade gold
mineralization, 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. A large part of the 2022 program
included infilling the sulphide deposit and improving the
geological model to support potential underground mine development
scenario. A total of 9,174 metres was completed in 15 holes, with 5
holes previously reported (see news release dated September 12, 2022 - Orla Mining Advances
Exploration & Growth Pipeline). The 15 holes completed in
2022 returned 32 significant mineralized drill intercepts with
grade-by-thickness factor greater than 50 g/t by metre Au (g/t *
m), including 16 intercepts with grade-by-thickness factor greater
than 100 g/t by metre Au. Full drill results are available in
the Appendix to this news release and are available at
www.orlamining.com.
The current mineral resource estimate for the Sulphide Project
at Camino Rojo consists of 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) and has an
effective date of June 7,
2019.2
Vein domains constraining higher grade gold in sulphide
deposit
The 2022 sulphide drill program has helped define areas of high
vein concentrations ("vein domains") which coincide with higher
grade (>2 g/t) gold mineralization. The vein domains are
important geological controls on gold mineralization, constraining
the distribution and continuity of higher-grade gold mineralization
within the sulphide deposit. Improved confidence in geological
controls will strengthen future mineral resource estimations.
Vein domains have been defined by combining recent oriented
diamond drill core data and approximately 70,000 m of historical vein density and
orientation data within the main zone of potassic alteration (Kp).
This work has resulted in the definition of three steep northwest
and five shallow south-southwest dipping vein domains (Figure 4).
High grade gold (>10 g/t Au) appears to be concentrated at the
intersection of these steep and shallow dipping domains.
Figure 4: Camino Rojo Sulphides 2022 Program Vein Domains
(Cross Section, Hole 7)
Potential new oxide mineralization outside current pit
boundaries
Hole CRSX22-05, drilled as part of the 2022 sulphide drill
program, intersected a mix of oxide and transitional material on
the edge of the oxide open pit along the dike structure with
mineralized intersections of 1.95 g/t over 61.2 m and 1.03 g/t over 25.3 m (see news release dated
September 12, 2022 - Orla Mining
Advances Exploration & Growth Pipeline). This positive
intersection triggered follow-up drilling to further assess
potential oxide pit extension over this area. Two holes were
drilled in 2022 with CROX22-01, returning 1.10 g/t Au over
136.5 m[3] and CROX22-02
returning 0.70 g/t Au over 290 m
including 0.97 g/t Au over 147.5
m3. Both holes intercepted the extension of
the mineralization and associated oxidation that was
intercepted in hole CRSX22-05, but within the current feasibility
pit. Results so far indicate that mineralizing structures also act
as pathways for deep oxidation beyond the current pit boundary.
Further drilling is planned in 2023 to test for zones of oxidized
mineralization that could potentially allow for local expansion of
the oxide pit.
Deeper intersections suggest deep
potential for extension of Camino Rojo Sulphides
Select holes from the recently completed 2022 sulphide drill
program were extended to test the down plunge continuity of gold
mineralization along the Dike Zone. These drill holes have returned
encouraging and highly significant results, such as 4.02 g/t Au
over 22.9 m. Compilation of
historical drill data has also confirmed high-grade gold intercepts
over significant widths with a similar style of mineralization
elsewhere below the current extents of the Camino Rojo resource
estimation model.
Most of the gold mineralization at Camino Rojo has been defined
in the Caracol Formation where auriferous veins are mostly
constrained to a broad envelope of potassic alteration (Kp). Recent
and compiled historical drilling indicates gold mineralization
extends deeper into the underlying Indidura and Cuesta del Cura
formations (and potentially deeper into other underlying units)
along the Dike Zone and Breccia Fault Zone, suggesting these faults
may be feeder-like structures for the Camino Rojo deposit. This
deeper gold mineralization is hosted by skarn and calc-silicate
alteration associated with manto-type mineralization with
semi-massive to massive sulphides replacing bedding.
2022 notable results hosted in Indidura or Cuesta del Cura
formations:
- Hole CRSX22-07: 4.02 g/t Au over 22.9
m, incl. 9.30 g/t Au over 6.1
m
- Hole CRSX22-08B: 1.28 g/t Au
over 24.6 m
- Hole CRSX22-08B: 1.33 g/t Au
over 17.2 m
- Hole CRSX22-08C: 2.50 g/t Au over 9.1
m
- Hole CRSX22-08C: 1.81 g/t Au over 19.4 m, incl. 2.51 g/t Au over
9.0 m
Selected historical4 results below Caracol Formation
in Indidura or Cuesta del Cura Formations:
- Hole CR12-366D: 4.04 g/t Au over 46.5
m, incl. 6.26 g/t Au over 27.0
m
- Hole CR13-507DB: 3.08 g/t Au over 55.5
m, incl 5.67 g/t Au over 22.5
m
- Hole CR13-455D: 6.12 g/t Au over 21.0
m, incl 18.75 g/t Au over 6.0
m
- Hole CR13-454D: 2.11 g/t Au over 51.0
m, incl 6.72 g/t Au over 4.5
m
- Hole CR13-453D: 3.62 g/t Au over 27.0
m
- Hole CR14-597DG: 3.68 g/t Au over 25.5
m incl 11.49 g/t Au over 6.0
m
Regional Exploration 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 at the Guanamero target. Prior to this drill hole,
meaningful gold mineralization had been restricted to the footprint
of the Camino Rojo Deposit. These new regional exploration results,
combined with strong exploration markers are a very encouraging
step towards making a regional discovery. The positive exploration
markers for Guanamero include the presence of gold-bearing mafic
dikes, alteration and rock types similar to Camino Rojo deep
potential target, as well as the Guanamero target being located on
an extension of the mine trend.
Early-stage exploration targets were tested with reverse
circulation ("RC") drilling along the Camino Rojo Mine trend as
well as to the south of the mine. One core hole (CRED22-01) was
drilled into an IP anomaly at the Guanamero target area,
approximately 7 km to the northeast of the mine. The Guanamero
target area is defined by the northeast extension of diorite dikes
along the regional structure hosting the Camino Rojo Mine, the
presence of a large high magnetic signature (1 km2) and
anomalous to significant results from Orla's wide-spaced 2021 RAB
drill program (see news release dated March 14, 2022). Drill hole
CRED22-01 intersected geology similar to that encountered in
the deep potential at the Camino Rojo Mine: altered diorite and
hornblende porphyry diorite dikes with calc-silicate to propylitic
altered Cuesta del Cura, La Peña, and Cupido formations. Trace to
2% disseminated and fine sulphide (pyrite, pyrrhotite, sphalerite,
magnetite) veinlets, stringers and breccia zones were intercepted
throughout the length of the hole. Anomalous to significant gold
results, as listed below, are associated with zones of breccia and
sulphide dissemination and veinlets. Follow-up drilling will be
performed in early 2023.
- 0.54 g/t over 7.10m, incl.
4.12 g/t over 0.7m (from
51.4 m)
- 0.39 g/t over 5.50 m, incl.
1.02 g/t over 1.5 m (from
74.5 m)
- 1.35 g/t over 2.35 m, incl.
3.83 g/t over 0.8 m (from
104.95 m)
- 0.24 g/t over 5.65 m, incl.
1.42 g/t over 0.6m (from
116.9 m)
- 0.44 g/t over 3.0 m (from
137.5 m)
- 0.20 g/t over 4.3 m (from
151.0 m)
- 0.32 g/t over 9.05 m (from
169.95 m)
- 0.11 g/t over 17.5 m (from
279.5 m)
- 2.17 g/t over 1.20 m (from
398.3 m)
- 0.63 g/t over 1.5 m (from
571.5 m)
Composites for the regional exploration drilling were calculated
using 0.1 g/t Au cut-off grade and maximum 6 metres consecutive
waste.
2023 Exploration Plans &
Strategy: Camino Rojo (Mexico)
Mexico Exploration
2023
|
Program
|
Drilling
Planned
|
Spend
|
Camino Rojo Layback
Drilling (capitalized)
|
Infill on oxide
mine
layback area
|
3,000 m DD
|
$2m
|
Camino Rojo Sulphides
Drilling
|
Infilling
sulphides
and other
near-mine drilling
|
34,000 m DD
sulphides
(20% deep
extension)
6,500 m DD
(oxides)
|
$16m
|
Camino Rojo Regional
Exploration
|
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
|
Near Mine Exploration
Camino Rojo layback reserve drilling
A 3,000 metre, 22-hole drill program to confirm and delineate
mineralization located in the oxide pit layback and allow for
potential update of mineral resource and reserve estimates will be
completed in 2023. This program will seek to define additional
oxide reserves at the Camino Rojo Mine following confirmatory core
drilling on the Fresnillo Plc ("Fresnillo") property, located
immediately north and adjacent of 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 reserve
estimate.
Camino Rojo Sulphides drilling continuation
A 34,000-metre, 57 hole follow-up drill program will continue to
infill the Camino Rojo Sulphides in 2023. 20% of the holes will
extend to test the deep potential of the deposit. In addition,
6,500m will be drilled on the
extensions of the Camino Rojo oxide deposit to update and expand
resources and reserves.
Based on the positive results encountered in the 2021 and 2022
programs, more closely spaced, south-oriented drilling will be
required to fully capture the extent of a potential underground
resource. To date, 15,253 metres of directional drilling has been
completed. This drilling has continued to inform Orla's perspective
on the development approach to the deposit. The 2023 drilling is
expected to strengthen the confidence for the development of a
Preliminary Economic Assessment ("PEA") that contemplates
underground mining by infilling the higher-grade (>2 g/t)
portions of the deposit with 50 metre spacing of South-oriented
drill holes. Overall drill spacing at the end of this next phase,
including historical north-oriented drill holes, will be 25-30
metres. Upon the completion of the 2023 additional south oriented
directional drilling and test work programs, a PEA is expected to
be completed based on the optimal development scenario for
Orla.
Regional Exploration
Approximately 15,000-20,000 metres of RC drilling and
2,000-5,000 metres of core drilling is planned for regional
exploration in 2023. Regional exploration will consist of drill
testing multiple targets outside the Camino Rojo deposit including
priority targets along the northeast-southwest mine trend,
including targets associated with recently defined IP anomalies.
Priority targets such as Guanamero and Monterilla at the north-east
and CR SW immediately to the south-west of the Camino Rojo deposit
were only partially tested in 2022 and will be drill tested in
2023. Geophysical and geochemical surveys are also planned for 2023
to keep defining new targets.
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 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 Drill Program
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.
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, 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 2022 drill program,
including the potential for local expansion of the oxide pit at
Camino Rojo, the deep potential of the Camino Rojo Sulphides and
the potential for additional regional discoveries; and 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 price of gold, silver, and copper; the
accuracy of mineral resource and mineral reserve estimations; that
there will be no material adverse change affecting the Company or
its properties; that all required approvals will be obtained,
including concession renewals and permitting; that political and
legal developments will be consistent with current expectations;
that currency and exchange rates will be consistent with current
levels; 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: uncertainty and
variations in the estimation of mineral resources and mineral
reserves, including risks that the interpreted drill results may
not accurately represent the actual continuity of geology or grade
of the deposit, bulk density measurements may not be
representative, interpreted and modelled metallurgical domains may
not be representative, and metallurgical recoveries may not be
representative; the Company's reliance on Camino Rojo and risks
associated with its start-up phase; financing risks and access to
additional capital; risks related to natural disasters, terrorist
acts, health crises and other disruptions and dislocations,
including by the COVID-19 pandemic; risks related to the Company's
indebtedness; success of exploration, development, and operation
activities; foreign country and political risks, including risks
relating to foreign operations and expropriation or nationalization
of mining operations; concession risks; permitting risks;
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 Camino Rojo and to obtain the necessary
regulatory approvals related thereto; the mineral resource
estimations for Camino Rojo being only estimates and relying on
certain assumptions; delays in or failure to get access from
surface rights owners; risks related to guidance estimates and
uncertainties inherent in the preparation of feasibility and
pre-feasibility studies, including but not limited to, assumptions
underlying the production estimates not being realized, changes to
the cost of production, variations in quantity of mineralized
material, grade or recovery rates, geotechnical or hydrogeological
considerations during mining differing from what has been assumed,
failure of plant, equipment or processes, changes to availability
of power or the power rates, ability to maintain social license,
changes to exchange, interest or tax rates, cost of labour,
supplies, fuel and equipment rising, changes in project parameters,
delays, and costs inherent to consulting and accommodating rights
of local communities; uncertainty in estimates of production,
capital, and operating costs and potential production and cost
overruns; the fluctuating price of gold, silver, and copper; global
financial conditions; uninsured risks; competition from other
companies and individuals; uncertainties related to title to
mineral properties; 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; risks
related to the Company's history of negative operating cash flow;
litigation risks; intervention by non-governmental organizations;
outside contractor risks; risks related to historical data; unknown
labilities in connection with acquisitions; the Company's ability
to identify, complete, and successfully integrate acquisitions;
dividend risks; 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 the 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; 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 18, 2022, 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 Composite Drill
Results
HOLE-ID
|
From
(m)
|
To
(m)
|
Core Length
(m)
|
True Width
(m)
|
Au
g/t
|
Ag
g/t
|
Au
GXM
|
Au GXM
(TW)
|
Including
2.0g/t Au COG
|
Including
10g/t Au HG
|
Ox /
Sx
|
CRSX22-07
|
439.80
|
441.30
|
1.50
|
1.01
|
1.32
|
39.3
|
1.98
|
1.33
|
|
|
SX
|
CRSX22-07
|
454.80
|
456.30
|
1.50
|
1.01
|
3.47
|
49.0
|
5.21
|
3.51
|
1.5m @ 3.47g/t
Au
|
|
SX
|
CRSX22-07
|
465.30
|
544.80
|
79.50
|
53.59
|
1.46
|
5.5
|
115.85
|
78.09
|
15m @ 2.77g/t Au
1.5m @ 2.03g/t Au
1.5m @ 2.91g/t Au
4.5m @ 2.88g/t Au
3m @ 2.28g/t Au
1.5m @ 2.41g/t Au
3m @ 3.74g/t Au
|
|
SX
|
CRSX22-07
|
556.80
|
561.30
|
4.50
|
3.04
|
1.55
|
4.3
|
6.97
|
4.71
|
|
|
SX
|
CRSX22-07
|
567.30
|
607.80
|
40.50
|
27.35
|
1.40
|
4.0
|
56.54
|
38.19
|
1.5m @ 5.12g/t Au
9m @ 2.72g/t Au
|
|
SX
|
CRSX22-07
|
619.80
|
627.30
|
7.50
|
5.09
|
1.82
|
1.4
|
13.62
|
9.25
|
1.5m @ 5.67g/t
Au
|
|
SX
|
CRSX22-07
|
646.80
|
648.30
|
1.50
|
1.02
|
2.29
|
8.4
|
3.44
|
2.33
|
1.5m @ 2.29g/t
Au
|
|
SX
|
CRSX22-07
|
663.30
|
664.80
|
1.50
|
1.02
|
1.16
|
6.5
|
1.74
|
1.18
|
|
|
SX
|
CRSX22-07
|
673.50
|
675.00
|
1.50
|
1.02
|
1.19
|
7.5
|
1.78
|
1.20
|
|
|
SX
|
CRSX22-07
|
681.00
|
682.50
|
1.50
|
1.01
|
1.55
|
5.2
|
2.33
|
1.57
|
|
|
SX
|
CRSX22-07
|
685.50
|
687.00
|
1.50
|
1.01
|
1.20
|
37.5
|
1.79
|
1.21
|
|
|
SX
|
CRSX22-07
|
777.60
|
800.50
|
22.90
|
15.43
|
4.02
|
12.2
|
92.03
|
62.01
|
6.05m @ 9.3g/t Au
9.1m @ 3.19g/t Au
|
0.6m @ 56.7g/t Au
1m @ 16.75g/t Au
|
SX
|
CRSX22-07
|
807.00
|
808.50
|
1.50
|
1.01
|
1.28
|
1.0
|
1.92
|
1.29
|
|
|
|
CRSX22-07
|
813.00
|
814.50
|
1.50
|
1.00
|
1.37
|
11.0
|
2.05
|
1.37
|
|
|
|
CRSX22-07
|
819.00
|
820.50
|
1.50
|
1.00
|
1.46
|
9.1
|
2.18
|
1.46
|
|
|
|
CRSX22-07
|
831.00
|
834.00
|
3.00
|
2.00
|
1.32
|
2.4
|
3.97
|
2.65
|
|
|
|
CRSX22-07
|
888.00
|
890.20
|
2.20
|
1.46
|
2.86
|
8.2
|
6.29
|
4.17
|
1m @ 4.9g/t
Au
|
|
|
CRSX22-07C
|
295.90
|
297.40
|
1.50
|
1.02
|
1.52
|
5.5
|
2.28
|
1.56
|
|
|
SX
|
CRSX22-07C
|
304.90
|
306.40
|
1.50
|
1.02
|
1.08
|
1.5
|
1.61
|
1.10
|
|
|
SX
|
CRSX22-07C
|
307.90
|
316.50
|
8.60
|
5.87
|
1.01
|
8.3
|
8.70
|
5.93
|
1.8m @ 2.02g/t
Au
|
|
SX
|
CRSX22-07C
|
338.35
|
340.15
|
1.80
|
1.23
|
1.16
|
5.4
|
2.09
|
1.43
|
|
|
SX
|
CRSX22-07C
|
435.80
|
441.60
|
5.80
|
4.52
|
2.03
|
48.3
|
11.76
|
9.15
|
4.3m @ 2.29g/t
Au
|
|
SX
|
CRSX22-07C
|
455.10
|
477.60
|
22.50
|
17.39
|
2.64
|
11.3
|
59.39
|
45.91
|
12m @ 4.37g/t
Au
|
1.5m @ 12.85g/t
Au
|
SX
|
CRSX22-07C
|
496.90
|
525.40
|
28.50
|
21.99
|
1.62
|
8.1
|
46.30
|
35.72
|
15m @ 2.11g/t Au
1.5m @ 2.56g/t Au
|
|
SX
|
CRSX22-07C
|
534.40
|
535.90
|
1.50
|
1.16
|
1.54
|
6.9
|
2.31
|
1.78
|
|
|
SX
|
CRSX22-07C
|
540.40
|
541.90
|
1.50
|
1.16
|
1.18
|
2.3
|
1.77
|
1.37
|
|
|
SX
|
CRSX22-07C
|
559.90
|
562.90
|
3.00
|
2.31
|
3.20
|
4.3
|
9.59
|
7.39
|
1.5m @ 4.6g/t
Au
|
|
SX
|
CRSX22-07C
|
569.70
|
572.50
|
2.80
|
2.15
|
4.55
|
20.1
|
12.74
|
9.79
|
2.8m @ 4.55g/t
Au
|
|
SX
|
CRSX22-07C
|
580.00
|
585.00
|
5.00
|
3.83
|
1.62
|
6.3
|
8.08
|
6.19
|
1.5m @ 3.21g/t
Au
|
|
SX
|
CRSX22-07C
|
610.00
|
614.05
|
4.05
|
3.12
|
1.61
|
1.3
|
6.54
|
5.03
|
1.5m @ 3.19g/t
Au
|
|
SX
|
CRSX22-07C
|
636.15
|
637.65
|
1.50
|
1.15
|
1.22
|
19.5
|
1.82
|
1.40
|
|
|
SX
|
CRSX22-07C
|
645.15
|
664.50
|
19.35
|
14.85
|
2.23
|
21.8
|
43.20
|
33.15
|
1.5m @ 9.87g/t Au
7.2m @ 3.02g/t Au
|
|
SX
|
CRSX22-07C
|
673.50
|
675.00
|
1.50
|
1.15
|
2.54
|
25.2
|
3.81
|
2.92
|
1.5m @ 2.54g/t
Au
|
|
SX
|
CRSX22-07C
|
760.50
|
763.50
|
3.00
|
2.34
|
1.11
|
8.8
|
3.34
|
2.60
|
|
|
SX
|
CRSX22-07C
|
771.00
|
772.70
|
1.70
|
1.33
|
3.55
|
12.4
|
6.04
|
4.71
|
1.7m @ 3.55g/t
Au
|
|
SX
|
CRSX22-08
|
523.00
|
524.50
|
1.50
|
1.40
|
1.99
|
7.6
|
2.99
|
2.79
|
|
|
SX
|
CRSX22-08
|
542.50
|
544.00
|
1.50
|
1.40
|
1.17
|
1.0
|
1.76
|
1.64
|
|
|
SX
|
CRSX22-08
|
564.50
|
605.50
|
41.00
|
38.26
|
1.83
|
7.7
|
75.16
|
70.14
|
0.9m @ 9.3g/t Au
9m @ 2.77g/t Au
9m @ 3.24g/t Au
|
|
SX
|
CRSX22-08
|
612.50
|
641.00
|
28.50
|
26.52
|
2.81
|
9.5
|
80.07
|
74.51
|
6m @ 4.35g/t Au
5.45m @ 6.22g/t Au
1.5m @ 4.73g/t Au
|
1.5m @ 13.5g/t Au
1.5m @ 15.3g/t Au
|
612.5 - 619.3 SX
619.3 - 626.65
626.65 - 627.5 OX
627.5 - 636.4 TRSX
636.4 - 641 SX
|
CRSX22-08
|
648.60
|
657.50
|
8.90
|
8.27
|
2.53
|
6.4
|
22.55
|
20.95
|
0.6m @ 29.3g/t
Au
|
0.6m @ 29.3g/t
Au
|
SX
|
CRSX22-08
|
665.00
|
673.60
|
8.60
|
7.98
|
2.02
|
22.7
|
17.35
|
16.10
|
3.05m @ 3.93g/t
Au
|
|
SX
|
CRSX22-08
|
849.00
|
850.50
|
1.50
|
1.01
|
1.72
|
2.3
|
2.58
|
1.74
|
|
|
SX
|
CRSX22-08
|
879.00
|
880.50
|
1.50
|
1.00
|
1.25
|
15.2
|
1.87
|
1.25
|
|
|
879 - 879.3 FR
879.3 - 880.5 TROL
|
CRSX22-08
|
910.50
|
914.00
|
3.50
|
2.35
|
1.76
|
1.8
|
6.15
|
4.13
|
0.5m @ 7.33g/t
Au
|
|
SX
|
CRSX22-08B
|
495.50
|
497.00
|
1.50
|
1.50
|
1.07
|
9.1
|
1.61
|
1.60
|
|
|
SX
|
CRSX22-08B
|
519.00
|
520.70
|
1.70
|
1.70
|
1.14
|
40.9
|
1.93
|
1.93
|
|
|
SX
|
CRSX22-08B
|
545.50
|
557.30
|
11.80
|
11.77
|
2.07
|
10.9
|
24.47
|
24.40
|
2m @ 9.27g/t
Au
|
0.5m @ 29.5g/t
Au
|
545.5 - 546.7 SX
546.7 - 557.3 TRSX
|
CRSX22-08B
|
568.50
|
605.45
|
36.95
|
36.83
|
3.78
|
14.7
|
139.68
|
139.22
|
35.75m @ 3.86g/t
Au
|
1.5m @ 21.7g/t Au
1.5m @ 16g/t Au
|
568.5 - 578.75 TRSX
578.75 - 579 TROL
579 - 580.5 TRSX
580.5 - 580.78 TROH
580.78 - 584.79 TRSX
584.79 - 586.39 TROL
586.39 - 599.42 TRSX
599.42 - 599.46 TROH
599.46 - 602 TROL
602 - 605.45 TROH
|
CRSX22-08B
|
611.50
|
645.50
|
34.00
|
33.87
|
2.70
|
4.5
|
91.83
|
91.47
|
1.5m @ 9.88g/t Au
24m @ 2.8g/t Au
|
1.4m @ 21g/t
Au
|
611.5 - 619.2 TROL
619.2 - 645.5 SX
|
CRSX22-08B
|
651.60
|
668.00
|
16.40
|
16.33
|
1.85
|
4.9
|
30.40
|
30.26
|
10.4m @ 2.54g/t
Au
|
|
651.6 - 651.7 SX
651.7 - 654 TRSX
654 - 668 SX
|
CRSX22-08B
|
693.00
|
698.00
|
5.00
|
4.38
|
1.20
|
0.7
|
6.00
|
5.25
|
|
|
TRSX
|
CRSX22-08B
|
734.50
|
751.50
|
17.00
|
14.93
|
1.05
|
3.8
|
17.80
|
15.64
|
1.3m @ 2.75g/t
Au
|
|
734.5 - 736.7 TROL
736.7 - 742.15 SX
742.15 - 748.4
748.4 - 751.5 TROL
|
CRSX22-08B
|
756.00
|
757.50
|
1.50
|
1.32
|
1.23
|
12.7
|
1.85
|
1.62
|
|
|
TRSX
|
CRSX22-08B
|
772.00
|
777.70
|
5.70
|
4.99
|
1.75
|
11.8
|
10.00
|
8.76
|
1m @ 3.86g/t Au
1.7m @ 2.17g/t Au
|
|
TRSX
|
CRSX22-08B
|
785.00
|
786.50
|
1.50
|
1.31
|
2.06
|
17.0
|
3.09
|
2.70
|
1.5m @ 2.06g/t
Au
|
|
TRSX
|
CRSX22-08B
|
806.00
|
830.60
|
24.60
|
21.49
|
1.28
|
9.6
|
31.44
|
27.46
|
4.5m @ 3.01g/t
Au
|
|
SX
|
CRSX22-08B
|
858.80
|
876.00
|
17.20
|
14.97
|
1.33
|
17.8
|
22.87
|
19.90
|
1.5m @ 4.92g/t
Au
|
|
SX
|
CRSX22-08C
|
534.00
|
535.50
|
1.50
|
1.48
|
4.03
|
3.8
|
6.05
|
5.97
|
1.5m @ 4.03g/t
Au
|
|
SX
|
CRSX22-08C
|
550.00
|
559.50
|
9.50
|
9.37
|
2.64
|
8.6
|
25.12
|
24.78
|
9.5m @ 2.64g/t
Au
|
|
SX
|
CRSX22-08C
|
568.50
|
585.00
|
16.50
|
16.26
|
2.32
|
19.3
|
38.34
|
37.79
|
1.5m @ 6.3g/t Au
3m @ 7.1g/t Au
|
|
SX
|
CRSX22-08C
|
593.00
|
663.00
|
70.00
|
68.90
|
2.81
|
9.1
|
196.45
|
193.35
|
70m @ 2.81g/t
Au
|
1.5m @ 11.55g/t Au
1.5m @ 14.05g/t Au
|
593 - 595.6 TRSX
595.6 - 597.7 TROL
597.7 - 600.25 OX
600.25 - 602.4 TROL
602.4 - 607.4 TRSX
607.4 - 609 TROL
609 - 611.56 TRSX
611.56 - 613.13 SX
613.13 - 613.65 TROL
613.65 - 615.65 TRSX
615.65 - 617.8 TROL
617.8 - 619.9 SX
619.9 - 627.7 TROL
627.7 - 663 SX
|
CRSX22-08C
|
673.50
|
679.50
|
6.00
|
4.94
|
2.88
|
4.2
|
17.29
|
14.25
|
4.5m @ 3.35g/t
Au
|
|
SX
|
CRSX22-08C
|
690.00
|
702.00
|
12.00
|
9.91
|
1.32
|
2.0
|
15.79
|
13.03
|
1.5m @ 3g/t Au
1.5m @ 2.77g/t Au
|
|
TRSX
|
CRSX22-08C
|
715.00
|
723.00
|
8.00
|
6.61
|
1.21
|
5.7
|
9.69
|
8.01
|
0.85m @ 4.13g/t
Au
|
|
715 - 720.35 TRSX
720.35 - 723 SX
|
CRSX22-08C
|
730.50
|
740.50
|
10.00
|
8.27
|
1.11
|
3.8
|
11.10
|
9.17
|
1.5m @ 2.88g/t Au
1.5m @ 2.88g/t Au
|
|
730.5 - 736.05 SX
736.05 - 740.5 TRSX
|
CRSX22-08C
|
784.00
|
785.50
|
1.50
|
1.25
|
1.94
|
11.7
|
2.90
|
2.41
|
|
|
SX
|
CRSX22-08C
|
800.50
|
802.00
|
1.50
|
1.25
|
4.42
|
40.8
|
6.63
|
5.51
|
1.5m @ 4.42g/t
Au
|
|
SX
|
CRSX22-08C
|
849.95
|
852.00
|
2.05
|
1.70
|
2.14
|
10.0
|
4.39
|
3.65
|
2.05m @ 2.14g/t
Au
|
|
SX
|
CRSX22-08C
|
858.40
|
867.50
|
9.10
|
7.56
|
2.50
|
8.2
|
22.73
|
18.89
|
7.6m @ 2.79g/t
Au
|
|
SX
|
CRSX22-08C
|
876.50
|
878.00
|
1.50
|
1.25
|
2.07
|
1.8
|
3.11
|
2.58
|
1.5m @ 2.07g/t
Au
|
|
SX
|
CRSX22-08C
|
885.00
|
886.50
|
1.50
|
1.25
|
2.35
|
11.9
|
3.53
|
2.93
|
|
|
SX
|
CRSX22-08C
|
908.50
|
927.85
|
19.35
|
16.08
|
1.81
|
9.2
|
34.96
|
29.06
|
9m @ 2.51g/t Au
2.6m @ 2.75g/t Au
|
|
SX
|
CRSX22-09
|
489.50
|
491.00
|
1.50
|
1.34
|
2.23
|
5.3
|
3.35
|
3.00
|
1.5m @ 2.23g/t
Au
|
|
SX
|
CRSX22-09
|
522.00
|
538.00
|
16.00
|
13.15
|
6.94
|
36.5
|
111.10
|
91.30
|
14.5m @ 7.48g/t
Au
|
1.5m @ 17.7g/t Au
1.5m @ 11.8g/t Au
2m @ 17.77g/t Au
|
SX
|
CRSX22-09
|
547.00
|
587.50
|
40.50
|
36.23
|
3.83
|
12.1
|
154.96
|
138.63
|
7.5m @ 6.74g/t Au
9m @ 9.28g/t Au
|
1.5m @ 26.4g/t Au
1.2m @ 29g/t Au
1.5m @ 13.1g/t Au
|
547 - 567.7 TRSX
567.7 - 582.8 SX
582.8 - 587.5 TRSX
|
CRSX22-09
|
595.50
|
606.00
|
10.50
|
9.39
|
1.08
|
4.4
|
11.39
|
10.18
|
1.5m @ 2.88g/t Au
1.5m @ 2.32g/t Au
|
|
SX
|
CRSX22-09
|
609.00
|
631.00
|
22.00
|
18.09
|
1.01
|
1.5
|
22.32
|
18.35
|
1.5m @ 3.33g/t Au
1.2m @ 3.54g/t Au
|
|
SX
|
CRSX22-09
|
656.50
|
671.00
|
14.50
|
12.95
|
1.90
|
4.2
|
27.53
|
24.59
|
7m @ 3.17g/t
Au
|
|
SX
|
CRSX22-09
|
678.50
|
679.50
|
1.00
|
0.89
|
1.85
|
0.7
|
1.85
|
1.65
|
|
|
SX
|
CRSX22-09A
|
467.40
|
468.40
|
1.00
|
0.99
|
5.78
|
16.6
|
5.78
|
5.70
|
1m @ 5.78g/t
Au
|
|
FR
|
CRSX22-09A
|
482.00
|
485.00
|
3.00
|
2.96
|
1.08
|
20.2
|
3.23
|
3.18
|
|
|
482 - 482.6 FR
482.6 - 485 SX
|
CRSX22-09A
|
492.50
|
571.50
|
79.00
|
77.87
|
2.76
|
9.3
|
218.25
|
215.14
|
55m @ 3.22g/t Au
1.5m @ 5.71g/t Au
3m @ 4.44g/t Au
|
1.5m @ 10.1g/t
Au
|
SX
|
CRSX22-09A
|
579.00
|
591.00
|
12.00
|
11.81
|
1.32
|
3.5
|
15.86
|
15.61
|
4.5m @ 2.3g/t
Au
|
|
SX
|
CRSX22-09A
|
600.00
|
605.50
|
5.50
|
5.41
|
2.53
|
5.2
|
13.91
|
13.69
|
1.5m @ 6.31g/t
Au
|
|
SX
|
CRSX22-09A
|
612.50
|
614.00
|
1.50
|
1.48
|
3.18
|
3.5
|
4.77
|
4.69
|
1.5m @ 3.18g/t
Au
|
|
SX
|
CRSX22-09A
|
620.50
|
624.50
|
4.00
|
3.94
|
1.37
|
5.2
|
5.46
|
5.38
|
|
|
620.5 - 621.6 SX
621.6 - 624.5 TRSX
|
CRSX22-09A
|
629.70
|
631.00
|
1.30
|
1.07
|
2.32
|
2.7
|
3.02
|
2.48
|
1.3m @ 2.32g/t
Au
|
|
OX
|
CRSX22-09A
|
648.00
|
656.50
|
8.50
|
6.99
|
1.22
|
5.8
|
10.40
|
8.55
|
2.5m @ 2.94g/t
Au
|
|
648 - 651.5 TRSX
651.5 - 656.5 SX
|
CRSX22-09A
|
671.50
|
682.00
|
10.50
|
8.64
|
1.19
|
2.9
|
12.47
|
10.27
|
1.5m @ 4.37g/t
Au
|
|
SX
|
CRSX22-09A
|
695.50
|
748.00
|
52.50
|
43.22
|
1.16
|
8.9
|
60.98
|
50.19
|
1.5m @ 4.39g/t Au
1.5m @ 2.36g/t Au
1.5m @ 2.1g/t Au
10.5m @ 2.02g/t Au
|
|
695.5 - 722 SX
722 - 723.7 TROL
723.7 - 748 SX
|
CRSX22-09A
|
760.40
|
801.50
|
41.10
|
34.04
|
1.93
|
15.1
|
79.14
|
65.55
|
3m @ 3.31g/t Au
11m @ 4.06g/t Au
|
1.05m @ 25.6g/t
Au
|
SX
|
CRSX22-09B
|
460.50
|
462.00
|
1.50
|
1.43
|
1.40
|
15.8
|
2.09
|
2.00
|
|
|
SX
|
CRSX22-09B
|
481.50
|
483.00
|
1.50
|
1.44
|
2.13
|
24.7
|
3.20
|
3.06
|
1.5m @ 2.13g/t
Au
|
|
SX
|
CRSX22-09B
|
499.50
|
563.45
|
63.95
|
61.07
|
4.66
|
17.2
|
298.22
|
284.78
|
57.55m @ 5.08g/t
Au
|
0.85m @ 10g/t Au
0.75m @ 35.2g/t Au
1.2m @ 13.75g/t Au
1.6m @ 10.85g/t Au
0.75m @ 73.6g/t Au
1.5m @ 16.5g/t Au
1.5m @ 19.7g/t Au
|
499.5 - 533.85 SX
533.85 - 553.9 TRSX
553.9 - 563.45 SX
|
CRSX22-09B
|
571.00
|
592.20
|
21.20
|
20.21
|
2.43
|
7.2
|
51.55
|
49.14
|
18.2m @ 2.64g/t
Au
|
|
571 - 582.1 TRSX
582.1 - 587.5 SX
587.5 - 592.2
|
CRSX22-09B
|
600.00
|
615.50
|
15.50
|
14.78
|
1.26
|
1.7
|
19.50
|
18.59
|
1.5m @ 2.07g/t Au
0.6m @ 11.9g/t Au
|
0.6m @ 11.9g/t
Au
|
600 - 606.35
606.35 - 615.5 SX
|
CRSX22-09B
|
646.65
|
652.75
|
6.10
|
4.49
|
3.05
|
7.9
|
18.61
|
13.70
|
4.05m @ 4.01g/t
Au
|
0.8m @ 15.05g/t
Au
|
SX
|
CRSX22-09B
|
659.80
|
660.50
|
0.70
|
0.51
|
8.04
|
8.3
|
5.63
|
4.14
|
0.7m @ 8.04g/t
Au
|
|
SX
|
CRSX22-09B
|
671.00
|
684.50
|
13.50
|
9.91
|
1.21
|
3.5
|
16.34
|
11.99
|
3m @ 2.51g/t Au
1.5m @ 2.14g/t Au
|
|
671 - 671.1
SX
|
CRSX22-09B
|
708.50
|
730.90
|
22.40
|
16.37
|
1.18
|
7.9
|
26.40
|
19.30
|
0.7m @ 8.8g/t Au
1.5m @ 3.13g/t Au
|
|
|
CRSX22-09B
|
747.70
|
749.20
|
1.50
|
1.09
|
1.68
|
23.4
|
2.51
|
1.83
|
|
|
|
CRSX22-10
|
368.00
|
369.00
|
1.00
|
0.81
|
1.64
|
4.4
|
1.64
|
1.32
|
|
|
FR
|
CRSX22-10
|
370.50
|
372.00
|
1.50
|
1.21
|
1.26
|
12.2
|
1.88
|
1.52
|
|
|
FR
|
CRSX22-10
|
418.50
|
420.00
|
1.50
|
1.21
|
1.10
|
3.4
|
1.65
|
1.33
|
|
|
SX
|
CRSX22-10
|
456.00
|
462.00
|
6.00
|
4.82
|
2.09
|
26.3
|
12.55
|
10.08
|
1.5m @ 5.54g/t
Au
|
|
SX
|
CRSX22-10
|
483.00
|
484.50
|
1.50
|
1.20
|
1.19
|
6.4
|
1.78
|
1.43
|
|
|
SX
|
CRSX22-10
|
491.00
|
501.50
|
10.50
|
8.43
|
3.93
|
14.3
|
41.29
|
33.15
|
4.5m @ 8.48g/t
Au
|
1.5m @ 18.8g/t
Au
|
SX
|
CRSX22-10
|
515.00
|
524.00
|
9.00
|
7.22
|
1.26
|
10.5
|
11.32
|
9.09
|
1.5m @ 3.47g/t
Au
|
|
SX
|
CRSX22-10
|
531.50
|
581.00
|
49.50
|
39.70
|
2.71
|
6.6
|
134.37
|
107.77
|
1.5m @ 2.86g/t Au
17.5m @ 3.21g/t Au
8m @ 6.8g/t Au
3m @ 2.06g/t Au
|
1.5m @ 22.7g/t Au
2.7m @ 17.3g/t Au
|
SX
|
CRSX22-10
|
588.50
|
603.50
|
15.00
|
12.02
|
1.20
|
5.2
|
18.00
|
14.42
|
1.5m @ 2.32g/t Au
1.5m @ 4.81g/t Au
|
|
SX
|
CRSX22-10
|
618.50
|
620.00
|
1.50
|
1.20
|
10.30
|
7.1
|
15.45
|
12.38
|
1.5m @ 10.3g/t
Au
|
1.5m @ 10.3g/t
Au
|
SX
|
CRSX22-10
|
626.60
|
641.50
|
14.90
|
11.93
|
5.31
|
14.9
|
79.19
|
63.38
|
8.9m @ 8.34g/t
Au
|
1.4m @ 12.15g/t Au
2.6m @ 18.89g/t Au
|
SX
|
CRSX22-10
|
652.00
|
655.00
|
3.00
|
2.40
|
1.97
|
4.1
|
5.92
|
4.73
|
1.5m @ 2.46g/t
Au
|
|
SX
|
CRSX22-10
|
664.00
|
703.00
|
39.00
|
31.05
|
1.29
|
9.2
|
50.39
|
40.12
|
6m @ 2.43g/t Au
1.5m @ 2.54g/t Au
1.5m @ 4.73g/t Au
1.5m @ 3.77g/t Au
|
|
SX
|
CRSX22-10
|
712.00
|
715.30
|
3.30
|
2.62
|
3.32
|
35.0
|
10.95
|
8.70
|
1.8m @ 4.9g/t
Au
|
|
SX
|
CRSX22-10
|
725.50
|
732.50
|
7.00
|
5.56
|
1.86
|
20.4
|
13.03
|
10.34
|
5.5m @ 2.08g/t
Au
|
|
SX
|
CRSX22-10
|
739.50
|
741.00
|
1.50
|
1.19
|
1.89
|
14.9
|
2.84
|
2.25
|
|
|
SX
|
CRSX22-10
|
747.00
|
748.50
|
1.50
|
1.19
|
1.32
|
8.2
|
1.98
|
1.57
|
|
|
SX
|
CRSX22-10
|
762.00
|
763.50
|
1.50
|
1.19
|
4.57
|
26.1
|
6.86
|
5.44
|
1.5m @ 4.57g/t
Au
|
|
SX
|
CRSX22-10
|
775.50
|
777.00
|
1.50
|
1.22
|
1.09
|
10.7
|
1.64
|
1.32
|
|
|
SX
|
CRSX22-10A
|
456.50
|
459.50
|
3.00
|
2.72
|
1.87
|
12.3
|
5.61
|
5.09
|
1.5m @ 2.65g/t
Au
|
|
SX
|
CRSX22-10A
|
468.50
|
470.00
|
1.50
|
1.36
|
2.00
|
13.4
|
3.00
|
2.72
|
1.5m @ 2g/t
Au
|
|
SX
|
CRSX22-10A
|
492.50
|
506.00
|
13.50
|
12.23
|
3.10
|
33.8
|
41.84
|
37.89
|
10.5m @ 3.55g/t
Au
|
|
SX
|
CRSX22-10A
|
524.00
|
545.00
|
21.00
|
18.96
|
3.13
|
6.8
|
65.71
|
59.33
|
10.5m @ 5.66g/t
Au
|
1.5m @ 24g/t
Au
|
SX
|
CRSX22-10A
|
555.50
|
642.50
|
87.00
|
78.32
|
1.92
|
7.8
|
167.35
|
150.65
|
1.5m @ 3.07g/t Au
25.5m @ 3.14g/t Au
9m @ 2.99g/t Au
1.5m @ 5.7g/t Au
1.5m @ 2.94g/t Au
9m @ 2.03g/t Au
|
1.5m @ 10.5g/t
Au
|
SX
|
CRSX22-10A
|
657.50
|
665.00
|
7.50
|
6.73
|
2.53
|
21.9
|
18.98
|
17.04
|
1.5m @ 8.87g/t
Au
|
|
SX
|
CRSX22-10A
|
678.50
|
680.00
|
1.50
|
1.35
|
1.83
|
22.9
|
2.75
|
2.46
|
|
|
SX
|
CRSX22-10A
|
689.00
|
762.50
|
73.50
|
65.86
|
1.74
|
10.6
|
127.80
|
114.52
|
4.5m @ 2.08g/t Au
24m @ 2.61g/t Au
4.5m @ 2.25g/t Au
1.5m @ 2.4g/t Au
7.5m @ 2.23g/t Au
|
|
SX
|
CRSX22-10A
|
774.50
|
780.50
|
6.00
|
5.36
|
5.61
|
16.4
|
33.68
|
30.11
|
4.5m @ 6.85g/t
Au
|
1.5m @ 11.95g/t
Au
|
SX
|
CRSX22-10A
|
788.00
|
789.00
|
1.00
|
0.90
|
1.61
|
13.8
|
1.61
|
1.45
|
|
|
SX
|
CRSX22-10B
|
464.50
|
466.00
|
1.50
|
1.38
|
1.24
|
45.8
|
1.85
|
1.71
|
|
|
SX
|
CRSX22-10B
|
487.50
|
489.00
|
1.50
|
1.38
|
4.93
|
68.6
|
7.40
|
6.81
|
1.5m @ 4.93g/t
Au
|
|
SX
|
CRSX22-10B
|
496.50
|
504.00
|
7.50
|
6.91
|
3.29
|
23.6
|
24.69
|
22.75
|
3m @ 6.58g/t
Au
|
|
SX
|
CRSX22-10B
|
516.00
|
517.50
|
1.50
|
1.38
|
12.20
|
95.1
|
18.30
|
16.86
|
1.5m @ 12.2g/t
Au
|
1.5m @ 12.2g/t
Au
|
SX
|
CRSX22-10B
|
526.50
|
573.00
|
46.50
|
42.32
|
1.46
|
4.6
|
67.82
|
61.73
|
1.5m @ 2.15g/t Au
6m @ 3.38g/t Au
9m @ 2.29g/t Au
|
|
SX
|
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
|
Table 2: Camino Rojo Oxide Pit Composite Drill Results
HOLE-ID
|
From
(m)
|
To
(m)
|
Core Length
(m)
|
Au
g/t
|
Ag
g/t
|
Au
GXM
|
Including
0.5g/t Au COG
|
Including
1g/t Au COG
|
Including
2g/t Au COG
|
CROX22-01
|
21.50
|
71.50
|
50.00
|
0.99
|
11.5
|
49.48
|
1.5m @ 1g/t
Au
39.5m @ 1.18g/t Au
|
1.5m @ 1.58g/t
Au
25m @ 1.56g/t Au
|
1.6m @ 2.93g/t
Au
6.05m @ 2.37g/t Au
1.5m @ 2.03g/t Au
1.3m @ 6.18g/t Au
|
CROX22-01
|
79.00
|
84.40
|
5.40
|
1.31
|
4.3
|
7.07
|
5.4m @ 1.31g/t
Au
|
1.5m @ 4.1g/t
Au
|
1.5m @ 4.1g/t
Au
|
CROX22-01
|
98.70
|
133.50
|
34.80
|
0.42
|
13.3
|
14.63
|
1.3m @ 0.64g/t
Au
1.5m @ 0.64g/t Au
1.5m @ 0.75g/t Au
1.5m @ 2.34g/t Au
2.9m @ 0.94g/t Au
|
1.5m @ 2.34g/t
Au
1.4m @ 1.2g/t Au
|
1.5m @ 2.34g/t
Au
|
CROX22-01
|
144.50
|
281.00
|
136.50
|
1.10
|
17.5
|
149.55
|
1.5m @ 0.62g/t
Au
112.2m @ 1.29g/t Au
|
5.5m @ 1.6g/t
Au
1.5m @ 1.83g/t Au
3m @ 4.9g/t Au
56.5m @ 1.64g/t Au
4.5m @ 1.41g/t Au
|
1.4m @ 3.11g/t
Au
1.5m @ 7.82g/t Au
21.5m @ 2.06g/t Au
1.5m @ 2.08g/t Au
4.3m @ 2.06g/t Au
1.5m @ 2.02g/t Au
1.5m @ 2.57g/t Au
|
CROX22-02
|
0.00
|
290.00
|
290.00
|
0.70
|
10.6
|
203.01
|
3.6m @ 0.54g/t
Au
1.5m @ 0.66g/t Au
1.5m @ 1.44g/t Au
147.5m @ 0.97g/t Au
10.65m @ 0.86g/t Au
25.95m @ 0.59g/t Au
4.5m @ 0.92g/t Au
3.2m @ 0.72g/t Au
1.5m @ 0.53g/t Au
1.5m @ 0.88g/t Au
|
1.5m @ 1.44g/t
Au
5.5m @ 1.33g/t Au
45.5m @ 1.59g/t Au
10.5m @ 1.17g/t Au
1.5m @ 1.17g/t Au
4.95m @ 1.07g/t Au
15.65m @ 1.12g/t Au
5.7m @ 1.15g/t Au
1.5m @ 1.05g/t Au
1.5m @ 1.01g/t Au
1.7m @ 1.37g/t Au
|
1.5m @ 3.18g/t
Au
4m @ 2.8g/t Au
6m @ 3.13g/t Au
1.5m @ 2.3g/t Au
1.75m @ 2.21g/t Au
1.8m @ 2.22g/t Au
1.15m @ 3.11g/t Au
|
Criteria: Cut off
grade 0.2g/t Au, minimum length 1.5m, maximum consecutive internal
waste 6m
|
|
Table 3: Camino Rojo Regional Program Composite Drill
Results
HOLE-ID
|
From
(m)
|
To
(m)
|
Core Length
(m)
|
Au
g/t
|
Ag
g/t
|
Au
GXM
|
Including
0.5g/t Au COG
|
Including
1g/t Au COG
|
Met
Code
|
CRED22-01
|
51.40
|
58.50
|
7.10
|
0.54
|
0.6
|
3.81
|
0.7m @ 4.12g/t
Au
|
0.7m @ 4.12g/t
Au
|
51.4 - 52.48
SX
52.48 - 52.83 OX
52.83 - 58.5 SX
|
CRED22-01
|
74.50
|
80.00
|
5.50
|
0.39
|
0.6
|
2.13
|
1.5m @ 1.02g/t
Au
|
1.5m @ 1.02g/t
Au
|
SX
|
CRED22-01
|
104.95
|
107.30
|
2.35
|
1.35
|
1.1
|
3.17
|
0.8m @ 3.83g/t
Au
|
0.5m @ 5.59g/t
Au
|
104.95 - 105
OX
105 - 107.3 SX
|
CRED22-01
|
116.90
|
122.55
|
5.65
|
0.24
|
1.3
|
1.38
|
0.6m @ 1.42g/t
Au
|
|
116.9 - 120.73
SX
120.73 - 122.55 OX
|
CRED22-01
|
137.50
|
140.50
|
3.00
|
0.44
|
0.3
|
1.32
|
1.5m @ 0.62g/t
Au
|
|
SX
|
CRED22-01
|
151.90
|
156.20
|
4.30
|
0.20
|
0.3
|
0.87
|
|
|
SX
|
CRED22-01
|
169.95
|
179.00
|
9.05
|
0.32
|
0.6
|
2.91
|
1.7m @ 1.43g/t
Au
|
1.7m @ 1.43g/t
Au
|
SX
|
CRED22-01
|
279.50
|
297.00
|
17.50
|
0.11
|
1.8
|
1.95
|
|
|
SX
|
CRED22-01
|
398.30
|
399.50
|
1.20
|
2.17
|
0.8
|
2.60
|
1.2m @ 2.17g/t
Au
|
1.2m @ 2.17g/t
Au
|
SX
|
CRED22-01
|
571.50
|
573.00
|
1.50
|
0.63
|
0.6
|
0.95
|
1.5m @ 0.63g/t
Au
|
|
SX
|
Criteria: Cut off
grade 0.1g/t Au, minimum length 1.5m, maximum consecutive internal
waste 6m.
|
Table 4: Camino Rojo Drill Hole Collars
Drillhole
|
Easting
|
Northing
|
Elevation
|
Azimuth
|
Dip
|
Depth
(m)
|
CRSX22-07
|
243658
|
2676063
|
1953
|
152
|
-74
|
1001
|
CRSX22-07C
|
243658
|
2676063
|
1953
|
152
|
-65
|
779
|
CRSX22-08
|
243680
|
2676269
|
1954
|
148
|
-73
|
922
|
CRSX22-08B
|
243680
|
2676269
|
1954
|
148
|
-73
|
881
|
CRSX22-08C
|
243680
|
2676269
|
1954
|
148
|
-73
|
929
|
CRSX22-09
|
243677
|
2676170
|
1951
|
152
|
-75
|
691
|
CRSX22-09A
|
243677
|
2676170
|
1951
|
151
|
-58
|
802
|
CRSX22-09B
|
243677
|
2676170
|
1951
|
150
|
-76
|
760
|
CRSX22-10
|
243599
|
2676109
|
1954
|
160
|
-60
|
785
|
CRSX22-10A
|
243599
|
2676109
|
1954
|
159
|
-61
|
790
|
CRSX22-10B
|
243599
|
2676109
|
1954
|
160
|
-61
|
585
|
CROX22-01
|
244153
|
2676098
|
1920
|
145
|
-56
|
282
|
CROX22-02
|
244190
|
2676120
|
1920
|
145
|
-59
|
290
|
CRED22-01
|
250253
|
2680276
|
1930
|
180
|
-65
|
600
|
___________________________________________
|
1 All
metres reported above are down-hole intervals, with true width
estimates ranging from 66-100% 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 6 out
of 2,910 samples exceeded the potential capping level of 27.0 g/t -
these samples averaged 42.2 g/t gold (max. 73.6 g/t) and 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.
|
3 Composites
for the oxide drilling were calculated using 0.2 g/t Au cut-off
grade and maximum 6 metres consecutive waste.
|
4 Drill
results presented are historical in nature. Such results were
completed by Goldcorp Inc., a prior owner of the Camino Rojo
Project. Composites for the sulphide drilling were calculated using
1 g/t Au cut-off grade and maximum 6 metres consecutive
waste.
|
SOURCE Orla Mining Ltd.