07:03 AM EST, 12/10/2024 (MT Newswires) -- Orla Mining ( ORLA ) , which on Monday rose more than 7% and hit a 52-week high in Canada and the United States, on Tuesday provided an update on exploration at the Camino Rojo Extension in Mexico, now referred to as 'Zone 22'.

Among summary details: Orla said drilling has extended mineralization 800 meters beyond the current open-pit resource, with Zone 22 remaining open at depth and along strike; while over 32,000 meters were drilled in 2024, with an additional 3,000 meters planned by year-end.

On other details: "notable" results include 31.5 g/t AuEq over 2.7m and 11.2 g/t AuEq over 4.5m, among others; and a distinct Cu-Au-Ag mineralization event was identified, with copper grades up to 4.95%.

Orla said an initial underground resource estimate for the Camino Rojo Sulphides, incorporating historical and 2024 Caracol-hosted intersections as well as a portion of the newly defined Zone 22 mineralization, is expected in early 2025, supporting a Preliminary Economic Assessment.

"The existing mineralization in the upper Caracol-host already set a strong foundation for the initial underground sulphide resource. It is now becoming clear that the future project will be enhanced by the Zone 22 Extension, and we continue to be impressed with the drill results: high-grade, polymetallic, and favorable metallurgy," said Sylvain Guerard, Orla's senior vice president, Exploration. "Zone 22 remains wide-spaced drilled and open down-plunge, offering significant potential for further infill and step-out drilling to contribute to both resource growth and upgrades."