Orla Mining has signed an agreement with Trinity Capital to acquire up to $125 million for the development of its Camino Rojo Oxide gold and silver project in Mexico.
Located in Mexico’s Zacatecas state, in the country’s central part, the project is 100% owned by Orla Mining and extends to more than 200,000 hectares, the Canadian miner said in a statement. Under the terms, the facility is available to the business for a five-year pe-riod.
"Estimated Mineral Reserves as of June 24, 2019 are 44.0 million tonnes at a gold grade of 0.73 grams per tonne (“g/t”) and a silver grade of 14.2 g/t, for total mineral reserves of 1.03 million ounces of gold and 20.1 million ounces of silver," according to the statement.
Based in Vancouver, Orla Mining is listed on the Toronto Stock Ex-change (TSX).