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Wednesday, Jun 12, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Gold

Orla Mining verifies Carlin-type mineralization at North Bullion in Nevada

The 2023 infill program met its goals by validating historical data to upgrade the mineral resource estimate from inferred to indicated categories

Orla Mining verifies Carlin-type mineralization at North Bullion in Nevada
Taking a tour around the South Railroad property in Nevada. Image via Orla Mining.

Orla Mining Ltd. (TSX: OLA) (NYSE: ORLA) exploration efforts have verified confirmation of strong Carlin-Type mineralization at its North Bullion sulphide deposit in Nevada.

The company provided an update to its exploration activities at the South Railroad Project, showing not only the Carlin Gold confirmation but four other key developments in the company’s progress at the Nevada-based project.

The 2023 infill drilling program met its goals at the North Bullion deposit by validating historical data to upgrade the mineral resource estimate from inferred to indicated category. The assay results, confirming positive gold values in line with historical data, led to a revision of the geological model and the identification of targets for the 2024 drilling program to extend the deposit.

The North Bullion deposit holds an inferred sulphide mineral resource of 3.72 million tonnes with a grade of 4.49 grams per tonne of gold (g/t Au), totaling 457,000 ounces. It’s situated in the northern section of the South Railroad property about 9.5 kilometres north of the Pinion Deposit

Orla carried out a drilling campaign in 2023 aimed at testing exploration targets across the South Railroad property, building on the 2022 exploration campaign.

The program in 2023 yielded encouraging assay results, warranting follow-up exploration drilling in 2024 to extend the mineralized zones of North Bullion and Jasperoid Wash.

“These new drill results, ongoing target definition efforts, and the forthcoming acquisition of the Pony Creek project, scheduled to close in the second quarter, underscore our commitment to exploration and discovery in the region,” said Sylvain Guerard, Orla’s senior vice president of exploration.

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Tests discover significant amounts of gold below the surface

Furthermore, drilling near the Jasperoid Wash deposit, located 6 kilometers south of the Pinion Deposit, aimed to find shallow gold in the area’s north end. The team performed specific drilling tests to check the area’s geology and to collect samples for further testing.

These tests found significant amounts of gold in and just below the surface, with some drill holes finding gold at depths and amounts like 0.53 grams per ton over 17.7 meters and 0.85 grams per ton over 44.2 meters. They also found small amounts of gold just outside the main drilling areas.

The company will follow-up with drilling in 2024 to increase the oxide resources beyond what’s presently defined. The drilling will target a 200 by 300 metre area with a rock formation called siliciclastic host rocks, which suggest the presence of gold.

Drilling in the POD area aimed at exploring the possible northwest extension of the deposit. This recent effort discovered high-grade silver, with one notable intercept showing 534 g/t Ag over 2.1m, including an exceptionally high grade of 1,511 g/t Ag over 0.6m, and another finding 477 g/t Ag over 3.7m, including 1,101 g/t Ag over 1.5m. Furthermore, in 2024, Orla plans to conduct follow-up drilling to the southwest, close to the Bullion Stock, believed to be the potential source of this unique mineralization style.

In 2023, Orla’s exploration efforts successfully revealed mineralization beyond the expected open pit areas, moved forward with satellite deposit development, and pinpointed new areas of interest.

Heading into 2024, meanwhile, Orla has scheduled a drilling program covering roughly 22,800 meters.

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Read more: Calibre secures commissioning contract for Valentine plant; signs gold supply deal with Asahi

Nevada offers multiple different options for gold type

Nevada is home to multiple different types of gold and multiple companies have moved in to take advantage.

For example, Carlin-type gold deposits are characterized by microscopic gold particles that are often disseminated within sedimentary rocks.

These deposits often occur as part of larger hydrothermal systems where hot, mineral-rich fluids percolate through the rock, depositing gold and other minerals in the process.

This type of deposit is named after the Carlin Trend in Nevada, where it was first recognized and where many of the world’s Carlin-type deposits are found.

Nevada Gold Mines, a joint venture between Barrick Gold Corp’s (NYSE: GOLD) (TSX: ABX) and Newmont Corporation (NYSE: NEM) (TSX: NGT) (ASX: NEM), is also a strong source of Carlin-type gold deposits in the Carlin trend.

Oxide gold deposits are another prominent type of gold bearing deposit found in Nevada. Furthermore, the Pan Mine is located in White Pine County, Nevada, in the Battle Mountain-Eureka Trend. It is one of the strongest oxide bearing properties. Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) has owned and operated it since its acquisition of Fiore Mining in early 2022.

Pan primarily targets oxide gold deposits. Gold associated with oxidized minerals within host rocks characterizes these types of deposits, typically making it easier and less costly to extract compared to sulfide deposits. The heap leaching process, which extracts gold from crushed ore by dripping a cyanide solution through the ore pile, works well with oxide gold deposits.

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 Calibre Mining is a sponsor of Mugglehead news coverage

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