Cayhua
| The Cayhua property is a 400-hectare concession adjacent to Minera IRL Limited's Corihuarmi Gold Mine in southwest Peru, approximately 160km southeast of Lima. Minera IRL has reported that the Corihuarmi open pit produced approximately 33,000 ounces of gold in 2009 and nearly 24,000 ounces in the first nine months of 2010, at cash operating costs of just $341 and $390 per ounce, respectively. Minera IRL has also reported that an updated ore reserve is expected to extend the Corihuarmi mine life into 2013. Geophysical surveys indicate that ore zones along the eastern margin of the Corihuarmi pit plunge onto Rae-Wallace's Cayhua property. | |
