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Orla Mining pours the first gold into the Camino Rojo mine

Orla Mining announced that it has dumped gold at its Camino Rojo mine, located in the state of Zacatecas, Mexico.

In summary, the Camino Rojo Project is a gold, silver, lead and zinc deposit located in the Municipality of Mazapil, near the town of San Tiburcio.

For geographic location: 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.

On January 11, 2021, the company announced the results of an updated Feasibility Study and an estimate of mineral reserves at the Camino Rojo Project.

As a result, there was a 54% increase in contained gold mineral reserves and a 3.5-year extension to the useful life of the Camino Rojo Project mine, which is currently under construction.

The estimated net present value after tax (5% discount rate) of the Red Path Project is now $ 452 million with an internal after-tax rate of return of 62% at a gold price of 1,600 per ounce.

Three bars with a total weight of 1,278 ounces containing approximately 770 ounces of gold and 510 ounces of silver were poured into the Camino Rojo mine.

The company plans additional spills during the remainder of 2021.

Camino Rojo mine

Both Monterrey and Zacatecas have airports with regular flights south to Mexico City or north to the United States. There are numerous gravel roads within the property that link the surrounding countryside to the two highways, Highways 54 and 62, that run through the property.

In addition, there is a railroad approximately 40 km east of San Tiburcio. There are also very few locations within the property that are not easily accessible to four-wheel drive vehicles.

The Camino Rojo property consisted of seven concessions held by Minera Camino Rojo, a subsidiary of Orla, covering a total of 163,129 ha, with one concession expiring in 2057 and the remaining seven expiring in 2058.

As part of the requirements to keep the concessions up to date, semi-annual fees must be paid based on an increasing rate per hectare, labor expenses must be incurred in amounts determined based on the size and age of the concession, and the applicable environmental regulations.

 

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