Friday, May 1, 2015

Minera IRL receives approval to build gold mine Ollachea

 

Minera IRL Limited is the TSX, AIM and BVL (TSX:IRL)(AIM:MIRL)(BVLAC:MIRL), Lima listed holding company of precious metals mining and exploration companies focused in Latin America. Minera IRL is led by an experienced senior management team with extensive industry experience, particularly in operating in South America. The Group operates the Corihuarmi Gold Mine and the emerging Ollachea Gold Project in Peru as well as the Don Nicolas Project in Argentina.

Peru approved the construction IRL gold gold mine Ollachea, giving the last authorization required for the start of the project in which it plans to invest about 180 million dollars, said Monday that focuses mining production in Latin America.


The mine, located in the southern region of Puno in Peru, the sixth largest producer of gold-, would produce between 100,000 and 115,000 ounces of gold annually in the first years of operation, the company said.


The building permit from the Peruvian Government will let you start the project, "which will be implemented after obtaining the necessary financing for the second quarter of 2015," IRL said in a statement.


According to the latest data from the company, the Ollachea mine has probable reserves of 9.2 million tonnes grading 3.4 grams of gold per tonne of material.
The mine is scheduled to produce 930,000 ounces during the first nine years of life, an average operating cost of about $ 507 per ounce of gold produced, the company said.


The right of use of the site is for 30 years.


The IRL mining, which is listed on the Lima, London and Toronto, operates the small Corihuarmi mine in southern Peru and takes the gold plan folder Don Nicolas in Argentina.

 

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The mine, located in Puno, would produce between 100,000 and 115,000 ounces of gold annually in the first years of operation, the company said.

http://www.minera-irl.com