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

Client
Minera Suyamarca, in which 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 Inmaculada’s main Angela vein.

The Angela vein will be accessed through a ramp, starting from a portal about 4 400 m above sea level and that declines 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 at 4 500 m and a drainage tunnel at the Patari Gorge at 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.

Net Present Value/Internal Rate of Return
Not stated.

Value
$370-million.

Duration
Production started in June 2015.

Latest Developments
Hochschild has received the final mill operating permit from the Peruvian government for its Inmaculada mine, giving the company the approval to start doré sales.

The mine declared commercial production in September.

The mine, which Hochschild believes will be its chief operation for a number of years, had produced about 25 000 oz of gold and 622 000 oz of silver since the first doré was produced in early June.

Key Contracts and Suppliers
Ausenco (feasibility studies).

On Budget and on Time?
Not stated.

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