The ore that contains sufficient valuable mineral to be treated by milling process is what ends up going into the processing plant compared to run of mine ore production.

GoGold is planning 100,000 metres of drilling next year to expand the resources.

Copper prices have registered all-time highs this year, supported by expectations of solid economic recovery and rising demand for the metal needed in electronics and construction.

According to Orla, the Caballito deposit represents an opportunity to potentially transform the scale and scope of the Cerro Quema project.

The gold project is now part of Brazil's investment partnership programme (PPI), which supports minerals and metals deemed strategic for the country.

Copper prices eased on Friday as the dollar firmed ahead of key US jobs data that is expected to cement the path towards monetary tightening.