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
Estimated Mine Life
Gold Underground 11 years
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.
90,000 exploration drilling program
NI 43-101 compliant Definitive Feasibility Study provides US$ 177 million CAPEX and a 9.6-year life-of-mine.
Surface Rights Agreement with the community for 30 years and construction permits (EIA) granted by Peru’s government.
Minapampa Far East drilling program confirms that gold mineralization remains open to the east and at depth.
NI 43-101 compliant PEA provides low-CAPEX $89 MM based on gravity concentration and CIL processing and 11-year life of mine .
Strong Project Economics with low CAPEX start-up estimated at US$ 89 million including a 25% contingency with an after-tax payback period of 2.5 years
Mineral Resource Estimate for the Ollachea Project - June 2021
Key Investment Highlights
A Shovel Ready Gold Project
Ollachea is a unique opportunity as it currently holds all permits and studies necessary to initiate construction
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
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).
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.
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 life of mine 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.