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Minera IRL Files New Pre-Feasibility Study for its Corihuarmi Mine on SEDAR
LIMA, Peru, July 05, 2018 (GLOBE NEWSWIRE) -- Minera IRL Limited ("Minera IRL" or the "Company"), (BVL:MIRL) (CSE:MIRL), the Latin American gold mining company,
About this update from Minera Irl Limited
[{"type":"text","content":" LIMA, Peru, July 05, 2018 (GLOBE NEWSWIRE) -- Minera IRL Limited (\"Minera IRL\" or the \"Company\"), (BVL:MIRL) (CSE:MIRL), the Latin American gold mining company, is pleased to report that it has filed on SEDAR a new Technical Report for the Corihuarmi Mine prepared by Mining Plus Consultants in accordance with Canada’s National Instrument 43-101. In a news release disseminated on May 2, 2018, the Company announced completion of the report and the extension of the mine life at Corihuarmi for 3 years. Gold mineralization at Corihuarmi is mined by open pit methods at a mine production rate of 9,000 tonnes per day (t/d) of ore and 5,000 t/d of waste. The average grade produced in the last year (2017) was approximately 0.27 grams per tonne (g/t) and the Company expects to produce at an average grade of 0.28 g/t in the coming years (2018 to 2020). In the new Technical Report, Mining Plus calculated the mineral resource using a cut-off grade of 0.09 g/t Au inside an optimized pit shell. Both the pit shell and cut-off grade were calculated using a gold price of US $1,400. Resource Category Tonnage (t) Au (g/t) Contained Metal (oz Au) Measured 11,800,000 0.27 104,000 Indicated 1,760,000 0.27 15,000 Measured + Indicated 13,560,000 0.27 119,000 Inferred 420,000 0.30 4,000 Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Mineral Resources are inclusive of Mineral Reserves reported below. There is no certainty that all or any part of the estimated Mineral Resources will be converted into Mineral Reserves. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The Mineral Resource was estimated by Mr. J. Limaylla and reviewed by Dr. A. Fowler, MAusIMM, CP(Geo), Independent Qualified Person under NI 43-101, of Mining Plus Consultants who takes responsibility for it. Data was verified by Mr. D. Seers, MAusIMM, CP(Geo), Independent Qualified Person under NI 43-101, of Mining Plus Consultants. The Mineral Resource was estimated in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (\"CIM\"), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the Standards Committee on Reserve Definitions and adopted by the CIM Council on May 10, ...