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International Minerals Corporation

Publié le 26 mars 2010

Reports Updates Reserve/Resource Estimates at Pallancata Silver Mine

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IMZ Updates Reserve and Resource Estimates at Pallancata Silver Mine

Scottsdale, Arizona, March 25, 2010 � International Minerals Corporation (Toronto and Swiss stock exchanges: �IMZ�) reports updated mineral reserve and resource estimates for the Pallancata silver mine, jointly owned by IMZ (40% interest) and Hochschild Mining plc (�Hochschild�, 60% interest) based on information supplied by Hochschild, the mine operator, as at December 31, 2009.  

Measured and Indicated (�M&I�) Resource estimate (on a 100% basis): 

  • 5.0 million tonnes (�Mt�) at an average grade of 419 grams per tonne (�g/t�) silver and 1.80 g/t gold, containing 67.7 million ounces of silver and 290,000 ounces of gold. 40% of these ounces are attributable to IMZ. 

This updated M&I Resource estimate represents a year-over-year increase of 17% in M&I contained silver ounces and 21% in contained gold ounces. 

Inferred Resource estimate (on a 100% basis): 

  • 1.6 Mt at an average grade of 376 g/t silver and 1.51 g/t gold containing 19.2 million ounces of silver and 77,000 ounces of gold are estimated in the Inferred Resources category.  40% of these ounces are attributable to IMZ. 

This updated Inferred Resource estimate represents a year-over-year increase of 23% in Inferred contained silver ounces and 26% in contained gold ounces. 

Proven and Probable (�P&P�) Reserve estimates (on a 100% basis): 

  • 3.9 Mt at an average grade of 354 g/t silver and 1.52 g/t gold, containing a total of 44.4 million ounces of silver and 192,000 ounces of gold.  40% of these ounces are attributable to IMZ.  

Although this updated Reserve estimate represents a year-over-year decrease of 12% in P&P silver ounces and 8% in gold ounces, it reflects a conservative 65% conversion rate of the updated M&I Resources to Proven and Probable Reserves.  Additional mine planning and reserve verification underground development drifting is required to upgrade the remaining M&I Resources to Reserves. 

Since commencement of production in September 2007 (at 500 tonnes per day) to December 31, 2009 (at 3,000 tonnes per day), the Pallancata operation has mined approximately 904,000 tonnes and produced 13.3 million ounces of silver and 50,900 ounces of gold. IMZ anticipates that the mine will produce approximately 10 million ounces of silver and 33,000 ounces of gold during calendar year 2010, with 40% of those ounces attributable to IMZ. 

Resources and Reserves reported in Table 1 (with an effective date of December 31, 2009) are estimated using a marginal cut-off grade of 160 g/t silver equivalent, which reflects a marginal cut-off value of US$53 per tonne using metal prices of US$13.50 per ounce of silver and US$810 per ounce of gold. 

Commenting on the updated resource and reserve estimates, Stephen Kay, President/CEO of IMZ said, �The overall M&I Resources continue to grow, showing that Pallancata is still a relatively young mine and has much more to offer in the future. Both partners are committed to an aggressive exploration and development campaign during 2010 to both define new resources and convert existing resources into reserves. IMZ expects that the mine will continue to play an important role in providing significant cash flow for both companies for many years to come.�

Table 1: Pallancata Mine � Mineral Reserve and Resource Estimates (as of December 31, 2009)  

Estimate Category

Tonnes

Average Grade
(g/t silver)

Average Grade (g/t gold)

100% Basis Contained Silver Ounces

100% Basis Contained Gold Ounces

IMZ 40% Attributable Silver Ounces

IMZ 40% Attributable Gold Ounces

Proven Reserves

2,891,000

370

1.62

34,391,000

151,000

13,756,000

60,000

Probable Reserves

1,018,000

307

1.25

10,049,000

41,000

4,020,000

16,000

Total Reserves

3,909,000

                   354

1.52

     44,440,000

192,000

17,776,000

76,000

 

 Resource Category

Tonnes

Average Grade
(g/t silver)

Average Grade (g/t gold)

100% Basis Contained Silver Ounces

100% Basis Contained Gold Ounces

IMZ 40% Attributable Silver Ounces

IMZ 40% Attributable Gold Ounces

Measured Resources

3,362,000

439

1.91

47,452,000

206,000

18,981,000

82,000

Indicated Resources

1,667,000

379

1.57

20,313,000

84,000

 8,125,000

34,000

Total Measured and Indicated Resources

         5,029,000

419

1.80

67,765,000

          290,000

27,106,000

116,000

 

 

 

 

 

 

 

 

Inferred Resources

1,585,000

376

1.51

19,161,000

77,000

7,664,000

31,000

  1. Measured and Indicated Resources include Proven and Probable Reserves.
  2. Metal prices used are US$13.50/oz for silver and US$810/oz for gold.
  3. The estimated reserves include 15% for ore losses and 11% for dilution assigned using zero grade.
  4. The estimated mineral resources are not mineral reserves and do not have demonstrated economic viability.
  5. Numbers have been rounded in all categories to reflect the precision of the estimates.
  6. The mineral resources were estimated using ordinary kriging for the major vein units and inverse distance to the power of three for peripheral veins. 
  7. Contained metal in estimated reserves remains subject to metallurgical recovery losses.
  8. The resource and reserve estimates reflect the deposit at Pallancata as of December 31, 2009.  

Hochschild�s data and methodology have been reviewed and audited by Toronto-based independent consulting firm P&E Mining Consultants Inc. The review was conducted by James L Pearson, P.Eng., Eugene Puritch, P.Eng., Alfred Hayden, P.Eng. and Fred Brown, CPG PrSciNat, all Qualified Persons as defined by National Instrument 43-101. 

The technical information reported in this news release was reviewed by IMZ�s Qualified Person, VP Corporate Development Nick Appleyard

Hochschild Mining plc does not accept any responsibility for the adequacy or inadequacy of the disclosure made in this news release and any such responsibility is hereby disclaimed in all respects. 

For additional information, contact: 

In North America                                                                           In Europe

Terri Kasten, Corporate Affairs Manager                               Oliver Holzer, Marketing Consultant
Tel: +1 480 483 9932                                                                   +41 44 853 0047 

E-mail: IR@intlminerals.com                                                      Internet Site: http://www.intlminerals.com  

 Cautionary Statement:

Some of the statements contained in this release are �forward-looking statements� within the meaning of Canadian securities law requirements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding estimates of reserves and resources and anticipated production results. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks of estimating mineral resources and reserves, variances between mineral reserves and actual mineral production, operating risks and other risks and uncertainties detailed in the Company�s Amended Annual Information Form for the year ended June 30, 2009, which is available at www.sedar.com under the Company�s name. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

International Minerals Corporation
7950 E. Acoma Drive, Suite 211
Scottsdale, AZ 85260
U.S.A.
Tel: (480) 483-9932 � Fax: (480) 483-9926

International Minerals Corporation

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CODE : IMZ.TO
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Intl. Minerals est une société de production minière basée aux Etats-Unis D'Amerique.

Intl. Minerals est productrice d'argent et d'or au Perou, en développement de projets d'argent, de cuivre et d'or au Perou et en Equateur, et détient divers projets d'exploration en Equateur.

Son principal projet en production est PALLANCATA au Perou et ses principaux projets en développement sont RIO BLANCO - ALEXANDRA NORTH, RIO BLANCO - SAN LUIS et GABY en Equateur et INMACULADA au Perou.

Intl. Minerals est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 270,7 millions CA$ (252,7 millions US$, 183,7 millions €).

La valeur de son action a atteint son plus bas niveau récent le 01 juin 2001 à 0,82 CA$, et son plus haut niveau récent le 29 avril 2011 à 8,00 CA$.

Intl. Minerals possède 95 653 001 actions en circulation.

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