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Minera IRL Announces strong 2010 results from the Corihuarmi Gold Mine, Peru
London and Toronto, 24 January 2011: Minera IRL Limited (“Minera IRL” or the
“Company”), (TSX:IRL) (AIM:MIRL) (BVL:MIRL) the Latin American focused gold
mining, development and exploration company, today announced the operating results
for the December quarter and 2010 year for its Corihuarmi Gold Mine, Peru.
Highlights:
• Total gold production for 2010 of 32,533 ounces at a cash cost of $383 per ounce
• Gold production for the fourth quarter of 8,615 ounces exceeded budget by 39%
• Quarterly cash operating cost of $366 per ounce was 21% below budget
• Gold sales prices for the quarter averaged $1,367 per ounce
Source
Press Release Minera-IRL.com
Corihuarmi Gold Mine
The Corihuarmi Gold Mine is located approximately 160km south east of Lima, Peru, in the Central Andes at an altitude of almost 5,000 metres.
The project was acquired by Minera IRL in 2002. Drilling and supporting studies took place over a 3 year period followed by the completion of an Environmental Impact Study and a bankable feasibility study. Permitting was completed in early 2007 and construction of the mine, plant and all infrastructure commenced in June 2007 following the raising of funds on the London AIM market.
The one million tonne per annum conventional open pit, heap leach operation was based upon a feasibility study reserve of 4 million tonnes grading 1.1 g/t of gold containing 145,000 ounces in the Susan and Diana outcropping mineralized zones.
Source
Minera-IRL.com
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