Minera IRL: Mining Plus replacement report National Instrument 43-101
March 12 2018 - 10:51AM
Minera IRL announces that the National Instrument 43-101 Technical
Report for the Corihuarmi Mine filed by it on SEDAR on October 2,
2017 (the
“Report”), does not comply with the
requirements of National Instrument 43-101, Standards of Disclosure
for Mineral Projects(
“NI 43-101”), and should not
be relied upon.
By way of background, the Company issued a news
release on October 2, 2017 announcing that the Report reflected an
increase in estimated gold reserves and an extension of the
Corihuarmi life of mine. However, later that same day, the
Company announced that the reserve estimate was not NI 43-101
compliant and that it had asked the author of the Report to correct
this and other deficiencies in the Report. Since then, management
has lost confidence in the author’s ability to correct these
deficiencies and has retained Mining Plus to prepare a replacement
report for the Corihuarmi Mine.
Because the Report, as it is currently filed,
does not comply with NI 43-101, the mineral resources reported in
the Report are not supported by an NI 43-101 compliant technical
report and should not be relied upon.
Qualified persons designated by Mining Plus have
completed a site visit at the Corihuarmi mine and have begun
revision of the technical data. Mining Plus has advised the
Company that, to date, there are no indications that the resource
or reserve will change materially from the numbers previously
disclosed. The Company anticipates that the Mining Plus replacement
report should be completed and published in April, 2018.
Qualified Persons
The scientific and technical content of this
news release has been prepared by, or under the supervision of Mr.
Raul Espinoza Noriega, MAusIMM (CP), and has been reviewed and
approved by him. Mr. Noriega is a “qualified person” for the
purposes of National Instrument 43-101, Standards of Disclosure for
Mineral Projects.
FOR FURTHER INFORMATION, PLEASE
CONTACT:
Minera IRL Limited Gerardo
PérezChairman
+51 1 418 - 1230
Diego
Benavides
+51 1 418 - 1230 Director and CEO
Carlos Ruiz de
Castilla
+1 778 387 5434 Chief Financial
Officer
No stock exchange, securities commission or
other regulatory authority has approved or disapproved the
information contained in this news release.
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