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A Golden Opportunity
Ollachea Gold
Project Peru

MINERA IRL LIMITED IS A MINING COMPANY FOCUSED ON THE EXPLORATION AND PRODUCTION OF GOLD THAT OPERATES THE CORIHUARMI GOLD MINE AND IS CURRENTLY ADVANCING THE OLLACHEA GOLD PROJECT. 

Minera IRL is listed on the Lima Stock Exchange in Peru (BVL:MIRL) and the Canadian Securities Exchange (CSE:MIRL) in Canada.

TOTAL SHARES  231,135,028 

 

CORIHUARMI GOLD MINE

OLLACHEA GOLD PROJECT

Location

Mineral

Mine Type

Mine Life

Status

Junin/Lima Gold

Open pit

3Q-2024

In Operation

(Since 2008)

Location

Mineral

Mine Type

Estimated Mine Life

Status

Puno

Gold Underground

11 years

In Development

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THE OLLACHEA PROJECT IS AN UNDERGROUND MINE, GRAVITY CONCENTRATION AND CIL PLANT DESIGNED TO TREAT 1,500 TPD OVER THE FIRST THREE YEARS RAMPING UP TO 3000 TPD IN YEAR FOUR.

OLLACHEA GOLD PROJECT

Located in southern Peru in the Puno Region, our flagship Ollachea gold project has obtained all key construction permits and mining approvals to build an underground mine and gravity concentration and CIL plant designed to treat 1,500 tpd over the first three years, and ramping up to 3000 tpd in year four. The estimated mine life is 11 years with total production of 876,200 ounces of gold. 

2008 - 2010

More than 80,000m of exploration drilling completed.

2011 - 2012

NI 43-101 compliant Definitive Feasibility Study provides US$ 177 MM CAPEX and a 9.6-year life-of-mine.

2013 - 2014

Surface Rights Agreement with the community for 30 years and construction permits (EIA) granted by Peru’s government.

2015 - 2020

More than 5,200m of drilling in Minapampa Far East confirms that gold mineralization remains opens to the east and at depth.

2021

NI 43-101 compliant PEA provides Start-up CAPEX $89 MM (including 25% contingency) based on gravity concentration and CIL processing and 11-year life of mine .

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Project Highlights

Strong Project Economics with low CAPEX start-up estimated at US$ 89 million including a 25% contingency with an after-tax payback period of 2.5 years

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Mineral Resource Estimate for the Ollachea Project - June 2021

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Key Investment Highlights 

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A Shovel Ready Gold Project

Ollachea is a unique opportunity as it currently holds all permits and studies necessary to initiate construction

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Appropriate Infrastructure and location

Ollachea is near the Interoceanic Highway, Matarani Port and Juliaca Airport. Its location also provides supply chain advantages, and access to qualified labor and energy supply

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High Exploration & Development Potential

Opportunity to increase the resource base to the east and at depth. Plus the expansion potential to the Concurayoc zone, wich contains an inferred resource totaling 10.4 million tonnes (0.9 million oz Au).

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Strong Community Relationship

Strong ties with the community supported by several ongoing community programs and a precedent-setting 30-year Surface Rights Agreement that grants a 5% interest in the Project. 

CORIHUARMI
GOLD MINE

Located at 5000 metres above sea level in the Peruvian Mountains, Corihuarmi is an open pit operation that has been in production since 2008. Its mine life has been extended three times since the initial Feasibility Study completed in 2006 that provided for a life span of only four years. The results of the recently updated 2021 Mineral Resource Estimate confirm that Corihuarmi will continue to produce gold until August 2024, with Measured and Indicated Resources totalling 13.83 million tonnes at an average grade of 0.21 g/t.

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