Name of the Project
Camino Rojo oxide project.

Location
The project is located in Zacatecas, Mexico.

Project Owner/s
Orla Mining.

Project Description
Camino Rojo includes proven and probable mineral reserves of 44.02-million tonnes grad-ing at 0.73 g/t of gold and 14.2 g/t of silver for total mineral reserves of 1.03-million ounces of gold and 20.1-million ounces of silver.

The feasibility study on the project proposes a near-surface openpit, mining 44-million tonnes of oxide and transitional ore at a throughput rate of 18 000 t/d.

Ore from the pit will be crushed to 80% passing 28 mm, conveyor-stacked onto a heap-leach pad and leached using a low-concentration sodium cyanide solution. Pregnant solution from the heap leach will be processed in a Merrill-Crowe recovery plant where gold and silver will be precipitated and doré will be produced.

Yearly throughput is estimated at 6.57-million tonnes a year, with total gold and silver produced estimated at 662 000 oz and 3.48-million ounces respectively.

The project has 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
The project will require initial capital expenditure of $123-million.

Planned Start/End Date
The start of construction is targeted for the first half of 2020, with first gold by mid-2021.

Latest Developments
With the feasibility study complete, permit applications can be completed and are expected to be submitted in the coming weeks.

Orla is acquiring bids for a contract to provide engineering, procurement and construction management support for the project.

It is also working with its advisers to develop an optimum financing structure to finance the development of the project.

The process is progressing well, and discussions are under way with various lenders and financiers.

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

On Budget and on Time?
Not stated.

Contact Details for Project Information
Orla Mining, email info@orlamining.com.