Name of the Project
Camino Rojo oxide gold project.

Location
Zacatecas state, central Mexico.

Project Owner/s
Orla Mining.

Project Description
The Camino Rojo project is an advanced gold and silver openpit and heap-leach project.

The project has estimated mineral reserves as of June 24, 2019, of 44-million tonnes grading 0.73 g/t gold and 14.2 g/t silver, for 1.03-million ounces of gold and 20.1-million ounces of silver respectively.

The Camino Rojo feasibility study supports a technically simple openpit mine and heap-leach operation, with low capital and operating costs providing rapid payback and a strong financial return.

The study envisages near-surface openpit mining of 44-million tonnes of oxide and transitional ore at a throughput rate of 18 000 t/d.

Average gold production is estimated at 97 000 oz/y over a mine life of 6.8 years.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value at a 5% discount rate of $227-million and an internal rate of return of 38.6%, with a payback of three years.

Capital Expenditure
Estimated at $123.11-million.

Planned Start/End Date
The construction of the project is expected to start in the first half of 2020 upon receipt of all required permits and project financing. First gold production is planned for mid 2021.

Latest Developments
Orla secured $125-million in project financing in October 2019. Trinity Capital partners arranged the facility.

Key Contracts and Suppliers
Kappes Cassiday and Associates, supported by Independent Mining Consultants, Resource Geosciences Incorporated, Barranca Group, Piteau Associates Engineering and HydroGeoLogica (feasibility study).

On Budget and on Time?
Too early to state.

Contact Details for Project Information
Orla Mining, tel +1604564 1852 or email info@orlamining.com.