 TORONTO (miningweekly.com) – International Minerals and partner Hochschild Mining could produce about 117 000 oz of gold and four-million ounces of silver a year, from the Inmaculada precious metals project in Southern Peru.
International Minerals, which is earning a 70% stake in the project, has completed a preliminary economic assessment (PEA) and said this week it plans to complete a full feasibility study by the end of next year.
The measured and indicated resources at Inmaculada are now estimated 532 000 oz of gold and 15,8-million ounces of silver, which represents increases of 245% and 225% respectively from the previous estimate.
Cash operating costs are forecast at $52/t, according to the PEA.
The capital cost of the mine is estimated at $168-million, with a forecast pretax internal rate of return of 41%.
Shares in International Minerals rose 0,7% in Toronto on Friday, to C$4,43 a share by 15:59.
LSE-listed Hochschild Mining gained 3,2%, to 390,5p.
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