Orla Feasibility Study for Camino improvedhttps://www.newswire.ca/news-releases/orla-mining-increases-gold-mineral-reserves-by-54-with-updated-feasibility-study-at-the-camino-rojo-oxide-gold-project-894387678.html VANCOUVER, BC, Jan. 11, 2021 /CNW/ - Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA) ("Orla" or the "Company") is pleased to provide the results of an updated Feasibility Study and mineral reserve estimate on its Camino Rojo Oxide Gold Project (the "Project" or "Camino Rojo") located in Zacatecas, Mexico. The updated Feasibility Study highlights a 54% increase in contained gold mineral reserves and a 3.5-year extension to the mine life of the Project, which is currently in construction. The estimated Project after-tax net present value ("NPV") (5% discount rate) is now $452 million with an after-tax internal rate of return ("IRR") of 62% at a gold price of $1,600 per ounce.
"The updated Feasibility Study for the Camino Rojo Oxide Project demonstrates an increase in recovered gold, mine life, and cash flows," stated Jason Simpson, President and Chief Executive Officer of Orla. "An already excellent project has been improved due to the hard work of the entire Orla team and I thank them for their efforts. We are pleased to announce this important enhancement and we will continue to optimize this asset as we move through construction and into production."