Name and Location
Inmaculada gold/silver project, Ayacucho department, Peru.

Client
Hochschild Mining holds 60% and International Minerals Corporation 40%.

Project Description
Inmaculada is a 20 000 ha gold/silver project in Hochschild’s southern Peru cluster.

The property consists of 40 mining concessions. Envisaged is a 3 500 t/d underground operation, with average silver equivalent production of 11.6-million ounces a year from Immaculada’s main Angela vein.

The Angela vein will be accessed through a ramp, starting from a portal located at an elevation of about 4 400 m above sea level and declining to about 4 300 m above sea level towards the middle and lower end of the vein.

A primary crusher plant will be sited close to the portal, with a 1.5 km conveyor belt transporting ore to the plant and a waste dump located 1 km to the south. There will be an additional horizontal access tunnel at the Quellopata gorge (4 500 m) and a drain-age tunnel at the Patari Gorge (4 300 m).

Key mining infrastructure will comprise three main levels to exploit all sections of the vein at the 4 300 m, 4 400 m and 4 500 m levels. These will be connected by four spiral ramps and six ore passes, with other shafts for ventilation, water and additional support services.

Value
Capital expenditure for Immaculada has increased from $315-million to about $350-million. In addition, delays to the permitting process, combined with the strengthening of the Peruvian Sol, are expected to add about $20-million to this total.

Duration
Hochschild expects to receive the final mill-construction permit for the Immaculada project in the second half of 2013. Commissioning is scheduled for the second half of 2014.

Latest Developments
None stated.

Key Contracts and Suppliers
Ausenco (feasibility studies).

On Budget and on Time?
Changes made by the Peruvian government to the submission requirements for construction permit applications, together with the number of industry applications being processed, will lead to a longer than anticipated permitting process and is expected to add about $20-million to the project’s capital expenditure.

Contact Details for Project Information
Hochschild Mining, tel +511 317 2000, fax +511 437 5009 or email info@hocplc.com.