Business
Strong Growth in Grades & Resources at Inmaculada
Strong Growth in Grades & Resources at Inmaculada.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 8409B Hochschild Mining PLC 25 February 2011 \n \n\n \n \n \n25 February 2011\n \nSignificant Increase in Grades & Resources at the Inmaculada Project\n \nHighlights\n \n· 59% increase in Measured & Indicated Resources to 76.0 million silver equivalent ounces\n· 29% increase in silver equivalent grades to 498 g/t \n· 12% increase in total resources to 128.3 million silver equivalent ounces \n \n \nHochschild Mining plc (\"Hochschild\" or \"the Company\") is pleased to announce an increase in both the total Mineral Resource estimate and Measured and Indicated Resources for the Inmaculada gold-silver project located in Hochschild's existing southern Peru cluster, following the announcement of a positive scoping study published by International Minerals Inc (\"IMZ\") in September 2010. The project, in which Hochschild now owns a controlling 60% stake (IMZ holds the remaining 40%), is currently at feasibility stage with completion expected in 2011. The Company is committed to commencing production in December 2013 at a processing capacity of 3,000 tonnes per day. \n \nThe previous resource estimate was based on drilling results prior to 15 May 2010. Subsequently, 67 drill holes from higher grade areas of the Angela vein have been completed and incorporated into the database. As a consequence, Measured & Indicated resources have increased by 59% to 76.0 million silver equivalent ounces with a corresponding grade increase of 29%. Summary results (on a 100% basis, applying a 180 g/t silver equivalent cut-off grade and a silver to gold ratio of 60:1) are as follows: \n \n· Measured & Indicated resources: 4.7mt at an average grade of 5.2 g/t gold and 186 g/t silver containing approximately 795,000 ounces of gold and 28.3 million ounces of silver. \n· Inferred resources of 2.7mt at an average grade of 6.1 g/t gold and 247 g/t silver containing approximately 521,000 ounces of gold and 21.0 million ounces of silver. \n \nHochschild expects the results to significantly improve the economics of the project detailed in the 2010 scoping study....