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Orla Files Preliminary Economic Assessment Technical Report on Camino Rojo Project
Vancouver, British Columbia--(Newsfile Corp. - July 12, 2018) - Orla Mining Ltd. (TSXV: OLA) (...
About this update from Orla Mining Ltd.
[{"type":"text","content":"Orla Files Preliminary Economic Assessment Technical Report on Camino Rojo ProjectVancouver, British Columbia--(Newsfile Corp. - July 12, 2018) - Orla Mining Ltd. (TSXV: OLA) (\"Orla\" or the \"Company\") is pleased to announce that the Company has filed a technical report, prepared in accordance with National Instrument 43-101, for its 100% owned Camino Rojo Project located in Zacatecas State, Mexico. Orla previously released the results of the preliminary economic assessment (\"PEA\") in its May 29, 2018 news release which included a summary of all assumptions and key results contained in the technical report.The independent report dated June 19, 2018, entitled \"Preliminary Economic Assessment, NI 43-101 Technical Report on the Camino Rojo Gold Project — Municipality of Mazapil, Zacatecas, Mexico\" was completed by Kappes, Cassiday & Associates (\"KCA\") and provides details and supporting disclosure to the information contained in the Company's news release issued on May 29, 2018. The technical report is available under the Company's profile on SEDAR at www.sedar.com.PEA SummaryThe mineral resource at Camino Rojo and PEA support a technically simple open-pit mine and heap-leach operation that offers low capital and operating costs, rapid payback, and strong financial performance. The PEA is based on near-surface oxide and partly oxidized (transitional) material within the overall resource, all located within Orla mineral concessions. Key highlights are summarized in the table below: PEA Highlights Base Case (in USD)Pre -Tax - Net Present Value (5%) / Internal Rate of Return (\"IRR\")$231 million / 38.1%After-Tax - Net Present Value (5%) / IRR$121 million / 24.5%Payback3.3 yearsProduction Rate per Day18,000 tonnesTotal Material to Leach Pad42.5M tonnesAverage Grade Au / Ag (g/t)0.71 / 13.56Contained gold / silver ounces966,000 / 18,517,000Average Recovery Au / Ag67% / 15%Average Annual gold Production97,500 ouncesStrip Ratio0.58Initial Capex$125 millionAvg. LOM production costs (per tonne of material processed)$8.02Total By-Product Cash Cost1 ($/oz Au)$499All-In Sustaining Cost1 ($/oz Au)$555Gold Price (US$/oz)$1,250Silver Price (US$/oz)$17.00 The PEA is preliminary in nature and includes the use of inferred mineral resources, which are considered too speculative geologically to have the economic consideration...