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Minera IRL Announces Initial Results of Ongoing Long-Hole Drilling Campaign at Corihuarmi Gold Mine
LIMA, Peru, April 12, 2023 (GLOBE NEWSWIRE) -- Minera IRL Limited (“Minera”, the “Company” or “we”) (BVL:MIRL) (CSE:MIRL) (FWB:DZX) (OTCQB:MRLLF) is pleased to
About this update from Minera Irl Limited
[{"type":"text","content":" LIMA, Peru, April 12, 2023 (GLOBE NEWSWIRE) -- Minera IRL Limited (“Minera”, the “Company” or “we”) (BVL:MIRL) (CSE:MIRL) (FWB:DZX) (OTCQB:MRLLF) is pleased to report assay results from the first set of drill holes completed as part of the Two-Phase Long-Hole (“LH”) Drilling Campaign started in late November 2022 at the Company’s producing Corihuarmi Gold Mine (“Corihuarmi”) located in central Peru. Highlights of the initial drill holes include: LHS23-36, 20.00 m of oxides from 5.00 m depth assaying 0.65 grams Au per tonne (“g/t Au”). LHS23-35, 14.00 m of oxides from 6.00 m depth assaying 0.45 g/t Au. LHSS23-53, zero to 4.00 m depth of oxides assaying 0.41 g/t Au. LHAD23-24, 11.00 m of oxides from 24.00 m depth assaying 0.39 g/t Au. Gold mineralization at Corihuarmi is mined by open pit methods. The average grade of the mineralized material placed on the leach pads between January and December 2022 was 0.21 g/t Au, with 20,938 ounces of gold shipped during 2022. About the LH Drilling Campaign As previously announced in the Company’s December 14, 2022 press release titled “Minera IRL Completes Diamond Drill Program at the Corihuarmi Gold Mine and Begins a New Two-Phase Drilling Campaign,” the LH Drilling Campaign was aimed to provide additional data to supplement the database generated from the Diamond Drill Program executed between July and November 2022. The objectives and execution of both drilling initiatives are in line with the Company’s goal to confirm the continuity of gold mineralization at Corihuarmi to ensure future operations and to update its most recent Mineral Resource Estimate. The LH Drilling Campaign targeted specific areas reported to contain coarse gold mineralization with grades in the range of 0.13 g/t Au to 0.24 g/t Au. Ongoing in-house analysis supports the viability of using this material to achieve an optimized blend at the leach pads in an effort to improve gold recoveries. A total of 53 drill holes measuring 1,853 metres have been completed, sampled, and assayed between November 2022 and March 2023, as part of Phase I of the LH Drilling Campaign. Principal intercepts are summarized as follows: Drill Hole Location From (m.) To (m.) Length (m.) g/t Au g/t Ag LHCA22-06 Cayhua Pit 3.00 10.00 7.00 0.154 0.157 17.00 22.00 5.00 0.140 0.180 LHCA22-07 Cayhua Pit 21.50 35.00 13.50 0.144 0.135 LHCA22-09 Cayhua P...