EXPLORATION & DEVELOPMENT

Orla hits 147.7m at 1.25% copper

Drilling continues at Cerro Quema in Panama

Staff reporter
Drilling continues at Cerro Quema in Panama

Drilling continues at Cerro Quema in Panama

The above-mentioned intercept was part of a wider 147.7m at 1.25% copper and 0.28g/t gold from 42.5m.

"Our excitement now is getting to test the potential for additional Caballito magnitude widths and grades over the next kilometre of strike," president and CEO Marc Prefontaine said.

The company said similar Caballito-style copper-gold mineralisation was found when relogging 2017 and historical drill holes 1km and more north.

Crews have just arrived to continue an induced polarisation survey to the north, through the Quemita oxide zone, to help target new drilling to identify the area's Caballito-style potential.

Orla also has the ex-Goldcorp Camino Rojo gold-silver project in Mexico, where it delivered a preliminary economic assessment three weeks ago.

The company had C$30.5 million (US$23 million) in working capital at the end of March after completing a $30.77 million (US$23.2 million) raising in February at $1.75 per unit.

It also obtained a non-interest bearing loan of $3.9 million (US$2.9 million) loan from Goldcorp, to be repaid on declaring commercial production of a heap leach operation.

Its shares closed up C3c to $1.33 but are down about 25% this year, capitalising Orla at $238 million.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.