Several IRL shareholders on HC have recognised the importance of the Aravalli project over many years. To understand the value of the Aravalli project it is necessary to compare it to other projects.
The Century Zinc mine previously owned by Pasminco, then Ziniflex, then OZ Minerals and then sold to Minmetals during the GFC was the 5th biggest Zinc mine in the world. Century Mine had a resource of 118 million tonnes. The Century Mine is reported to have come to the end of its life, according to the mmg website it is due to close mid 2015.
The Aravalli project has an exploration target resource of 95-135 million tonnes
"IRL has previously reported an exploration target in the range of 95-135 million tonnes at between 2.2-4.5% zinc and 0.7-1.8% lead."
" There is potential to upgrade the target substantially in both tonnes and grade by further drilling and higher grade zones can be identified within it. "
"The Aravalli project has the potential to be a world class lead-zinc mine."
The Aravalli project has the potential to be one of the worlds largest lead-zinc mines of similar size to Mt Isa.
With the current IRL shareprice at .007c values this at $4 million, doesn't make much sense does it.
IRL Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
