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Minera IRL Ltd.
Summary
| Project: | Corihuarmi Mine | |
|---|---|---|
| Deposit: | Corihuarmi Mine | |
| Location: | Peru | |
| Commodities: | Gold | |
| Date: | 5/2/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 2-5-2018: Minera IRL Ltd. announces a Resource Estimation report for its Corihuarmi Mine deposit at the Corihuarmi Mine project. Updated Mineral resource estimate and reserve estimate at project. LIMA, Peru, May 02, 2018 -- Minera IRL Limited ("Minera IRL | |
| Resources: | (Reserve, P+P): 8.473Mt @ 0.285g/t for 77.7Koz Au | |
| CP/QP: | [Resources]: J. Limaylla A. Fowler (Mining Plus Consulting Pty Ltd.) | |
| ABSTRACT: | LIMA, Peru, May 02, 2018 -- Minera IRL Limited ("Minera IRL" or the "Company"), (BVL:MIRL) (CSE:MIRL), the Latin America gold mining company, is pleased to report that Mining Plus has completed a new Technical Report for the Corihuarmi Mine. This report replaces a previous Technical Report filed on SEDAR on October 2, 2017. The Mining Plus report estimates a mineral reserve at Corihuarmi, in accordance with the definitions and guidelines adopted by the Canadian Institute of Mining, Metallurgy, and Petroleum (CIM Standards on Mineral Resources and Reserves), of 8,473,400 tonnes of ore at an average grade of 0.285 g/t Au for 77,700 ounces of gold (before processing recovery) using a cutoff grade of 0.136 g/t. and a gold price of USD $1,250. This represents a mine life of 3 years. Gerardo Perez, Minera IRL’s Executive Chairman, said, "This technical report confirms our reserves until 2020 and supports our production projection of over 24 thousand ounces per year. In addition, we note that this Mining Plus report is based on current costs, so we expect to provide even more good news as we continue to reduce production costs in our ongoing optimization of our operation at Corihuarmi.” The Mining Plus report, which will be filed within 45 days of this press release, includes disclosure intended to comply with Canada’s National Instrument 43-101, Standards of Disclosure for Mineral Projects. | |
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