Minera IRL Limited is a Jersey registered public company listed on the Toronto Stock Exchange (TSX:IRL), London AIM market (AIM:MIRL) and the Lima Stock Exchange in Peru (BVL:MIRL). Minera IRL Limited owns 99.97% of Minera IRL SA, a company registered in Peru and 100% of Minera IRL Argentina. Minera IRL SA in turn owns 100% of Minera Kuri Kullu.

Goal: Our goal is to build a diversified gold mining company in Latin America through development and operation of projects advanced in-house or acquired by Merger and Acquisition.

Mission Statement: To create shareholder value by building a network of profitable precious metal mines in Latin America through acquisition, exploration and development, applying modern technology, proactive social development policy and international environmental standards.

The Corihuarmi Gold Mine provides the cash flow and experience to underpin the discovery and acquisition of new precious metal projects throughout the Latin American region.

Corihuarmi Gold Mine, Peru

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 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.

The project was completed on schedule in the first quarter of 2008 for a capital cost of US$20 million. The first gold pour from Corihuarmi was on 15 March 2008 and nearly 85,000 ounces have been produced through the end of 2009. The capital cost was recovered from ex-mine, pre-tax cash flow within the first 7 months.

Mining commenced with the higher grade Diana outcrop and, in 2009, moved to the larger, lower grade Susan outcrop. Gold production has consistently exceeded expectations based upon the original ore reserves.

The mining and treatment rate at Corihuarmi has been increased to 1.5 million tonnes per annum. Gold production is now at a rate of approximately 30,000 ounces per annum at a cash operating cost of between $350 and $400 per ounce.

An updated ore reserve was generated in 2009 which extends the mine life through most of 2013. Mineralization which has fallen from the outcrop forms another resource which is expected to further extend the mine life.

The Corihuarmi Gold Mine provides important local and regional benefits. These benefits include mine employment, sustainable development programs as well as health and education programs for the local communities. (Read More)

Ollachea Gold Project, Peru

The Ollachea Project is located in southern Peru, approximately 250 km north of Lake Titicaca, on the eastern escarpment of the Andes Mountains.  The project is well positioned with respect to local infrastructure.  It is very close to the new Atlantic-Pacific transcontinental highway and a major high tension power line passes directly over the property.

Ollachea is located towards the northern extremity of a northwestwards-trending auriferous sedimentary belt that extends northwards from Bolivia through southern Peru.   The geological setting is bedded slates and sandstones, structurally deformed, in close proximity to surrounding intrusive bodies.

Ollachea is a historical mining district with evidence of small scale mining going back to the colonial period.  Minera IRL, under the banner of its 100% owned subsidiary Minera Kuri Kullu S.A. acquired the property from Rio Tinto by competitive tender in 2006. A comprehensive Surface Rights Agreement was signed with the local community in late 2007, and exploration commenced in early 2008.

Diamond drilling with 2 rigs commenced in October 2008 and to date over 40,000 meters has been drilled in more than 106 diamond drillholes.

A significant gold discovery was announced in early 2009 and a Scoping Study for the central Minapampa Zone was completed by Coffey Mining in November 2009.   The Scoping Study was based upon a NI43-101 compliant Inferred Resource of 9 million tonnes grading 4.5 grams per ton containing 1.3 million ounces.

The Scoping Study indicates the potential for a viable underground mine with an average annual production rate of 117,000 ounces at a cash operating cost of below US$400 per ounce.  The project has now moved into the pre-feasibility study stage.  The objective is to commission a new mine during 2014. (Read More)

Don Nicolas Gold Project, Patagonia, Argentina

In late 2009 Minera IRL Limited completed the take-over of Hidefield Gold Plc.  This transaction enabled Minera IRL to acquire the Don Nicolas Project and an extensive exploration tenement package totaling some 2,800 square kilometers in the Patagonia region of Argentina.

The new business unit is located within a large geological complex known as the Deseado Massif.  This geological formation hosts many new high sulfidization, epithermal gold deposits and is a significant emerging precious metals district.

The Don Nicolas Project is based upon an NI43-101 compliant resource of nearly 360,000 ounces of gold.  A Scoping Study was completed in 2008 commissioned by Hidefield.  Based upon the encouragement of this study, Minera IRL has embarked upon a feasibility study which is due to be completed in 2011. The feasibility program includes in-fill and extension drilling of known mineralized zones, metallurgical testing, infrastructure studies, environmental studies and capital and operating cost projections.  The objective is to construct and commission a new gold mine by the end of 2012. (Read More)

Courtney Charles Chamberlain, Executive Chairman
Courtney is a metallurgist by profession with over 40 years experience in precious and base metals management, operations and development as well as consulting in Australia, Asia, Africa and both North and South America.  He is a Fellow of the Australian Institute of Mining and Metallurgy.  Courtney spent 29 years with Newmont Mining Corporation and Newcrest Mining Ltd, including 13 years on the Board of Directors of Newmont Australia Ltd and Newcrest responsible for operations and development. His responsibilities included key management roles in the development of the Telfer and New Celebration Gold Mines in Western Australia and the Cadia Mine in New South Wales. Courtney was a founding partner of Investor Resources Limited (IRL), a financial and technical advisor to the international mining industry.  He initiated Minera IRL.

Douglas Alan Jones, Non-executive Director
Doug is a geologist with 30 years of international exploration, exploration management and consulting experience in the mining industry. Between 1997 and 2007 Dr. Jones served as Vice President Exploration for Golden Star Resources, responsible for world wide exploration. Before that he was Chief Geologist, New Business South America at AurionGold Limited. He is currently the Chief Executive Officer and a Director of ASX listed Liontown Resources Limited.

Graeme David Ross, Non-executive Director
Graeme qualified as a Chartered Accountant in 1984 and is now a Partner in Rawlinson & Hunter Chartered Accountants, Jersey which is part of the Rawlinson & Hunter international network. He has worked in Jersey’s finance industry since 1986 and has in-depth knowledge and experience of the structuring and ongoing administration requirements of publicly owned Jersey investment vehicles. Graeme Ross is a director/shareholder in both Computershare Investor Services (Channel Islands) Limited and R&H Trust Co. (Jersey) Limited, each of which provide services to and or is remunerated by the Company.

Kenneth Peter Judge, Non-executive Director
Ken is a qualified Barrister and Solicitor, specializing in international mergers and acquisitions law.  He has extensive business management experience having held a number of public company directorships and more recently having been engaged in the establishment or corporate restructure of technology, mining and oil and gas companies in Australia, the UK, US, Brazil, Argentina, Canada and the Philippines.  Ken is a resident of Monaco where he is involved in private investment and restructuring technology, resource and oil and gas companies.

Napoleon Valdez, Non-executive Director
Napoleon has extensive business management experience and is the President of the Board and major shareholder of Heinz Ferrand Glass and Cristalerias Ferrand, privately owned glass companies.  He is also owner and Director of Inversiones El Carmen, Agricola Topara and Gruval, all Peru incorporated companies.  Napoleon is a Peruvian resident, a well connected and experienced South American businessman and well informed on the Peruvian mining industry in which he has been a long standing investor.

Major shareholders include the following:

Updated from company website 25.10.11