The Mexican government approved the environmental impact statement for Orla Mining‘s Camino Rojo gold oxide project in the state of Zacatecas, with which the company prepares the construction of the mine.
In summary, the Camino Rojo project is a gold-silver-lead-zinc deposit located in the municipality of Mazapil, near the town of San Tiburcio. The project is located 190 km northeast of the city of Zacatecas, 48 km south-southwest of the city of Concepción del Oro, Zacatecas, and 54 km south-southeast of the Peñasquito de Newmont mine.
The approval of the Ministry of the Environment of Mexico (Semarnat) will allow the company to use the remaining 100 million dollars available in a project financing line of 125 million dollars.
The Mineral Resource in the Camino Rojo Report includes potential mill resources and potential heap leach resources, which are predominantly oxide and are the emphasis of the Camino Rojo Report. Mineral Resources are based on a block model developed by IMC during January and February 2019.
The Measured and Indicated Mineral Resources amount to 353.4 million tons at 0.83 g / t of gold and 8.8 g / t of silver.
The contained metal amounts to 9.46 million ounces of gold and 100.4 million ounces of silver for Measured and Indicated Mineral Resources.
Meanwhile, the inferred mineral resource is 60.9 million additional tons at 0.87 g / t of gold and 7.4 g / t of silver.
The contained metal amounts to 1.70 million ounces of gold and 14.5 million ounces of silver for the inferred mineral resource.
Approval of the environmental impact statement is conditional on Orla meeting certain customary conditions and standard requirements that the company intends to meet in the coming weeks.
Orla now has the two main permits needed to start construction activities at Camino Rojo.