The 5,100 hectare tenement package is located in the Tacna district of southern Peru.  ITMM acquired the property from Newcrest in a competitive tendering process.    

Minera IRL has entered into an option agreement to purchase 100% of the property from ITMM subject to payment of the sum of US$50,000 upon the grant of a supreme decree by the Peruvian government. The issue of a supreme decree is required where foreign registered companies seek to acquire exploration licenses within 50km of Peru’s international border.  Prior to commencing exploration on this property, a Surface Rights Agreement will need to be negotiated with the local community. 

Press Release