Nilam Resources Inc. (NILR.OB), a gold production company that is actively expanding its land portfolio in Peru and other countries in South America, recently announced that the company has commenced a schedule for production of 1.2 million tons of high-grade tailings at its wholly-owned Llipa property. Once the tailings are re-processed, the company plans to utilize the funds to finance the final infrastructure enhancements required to move the mine into full production.
Tailings are produced following partial or complete extraction of the metals during the milling phase and contain copper, gold and silver, which are not extracted during the processing phase. The previous owners of the Llipa project have completed an evaluation of the tailing and estimated that the property contains approximately 1 million tons of tailings at a grade of 0.77 percent copper and 8.7 g/ton gold and 2 g/ton silver, creating a significant asset for the company.
Nilam Resources was established to focus on Peru’s precious and base metals reserves. The company plans on becoming a major production company through acquiring additional producing mines and a series of joint ventures on high-potential mining properties.
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Nilam Resources Inc. (NILR.OB) is a gold production and geological exploration company set to meet the world’s increasing demand for mineral resources. Operations are based in South America, and the company is currently developing 3 major gold mining operations in Peru: Pativilca project, El Varon project and LLIPA project. Nilam Resources sets the highest standards for mining operations, management and corporate values, and is regarded within the industry as one of the leading gold producers in South America.
The company is headquartered in Toronto, Ontario, Canada and led by Alain Vachon. Mr. Vachon is an accomplished geologist with over 30 years of experience in the mining industry who has proven himself with the success of Paramount Gold and Silver Corp. (PZG), a company that graduated from OTC exchange to TSX and then AMEX. Nilam Resources is supported by a fantastic board of directors that have a wealth of experience in mining and geological explorations.
Nilam Resources knows that long-term economic conditions strongly favor a global demand for precious metals such as gold, silver, copper and other minerals. These precious commodities are what NILR hopes to collect and acquire, as the future values of these items are more than likely to continue growing at their current astounding rates with inflation and oil prices soaring. Gold has strong potential to become the center of the global financial system, and Nilam Resources hopes to play a large role in this transition.
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Nilam Resources, Inc. (NILR.OB) acquires, explores, and develops gold mineral properties primarily in Peru through its wholly owned subsidiary, Nilam Resources Peru SAC. The company has three mineral properties in Peru: The Pativilca property, The Llipa property, and the El Varon property. All three properties are located near major mineral trends and mines.
Nilam’s Pativilca property is a 2,100-hectare property that contains a fully operating gold processing plant. Annual revenues are expected to exceed $10 million from Pativilca gold production. The company has plans to expand the Pativilca plant production to 500 tons of ore per day, which would result in revenues that could reach $100 million annually.
Nilam’s Llipa property is a 1,133-hectare property that contains multiple developed mining shafts, although mining operations have been non-existent for 20 years. The Llipa property is located between the Antamina and Cerro de Pasco mines and is expected to be a major poly-metallic open pit mine. The company’s El Varon property has yet to be developed but has the necessary infrastructure for mining operations, such as electricity, accessible transportation, and a location near water.
Nilam is actively pursuing acquisitions not only in Peru, but also throughout South America. The company intends to explore for gold, copper, and silver resources. Nilam is expected to profit through their mineral mining efforts due to rising gold demand and low gold supply, as well as the rise in price for other precious minerals.
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Nilam Resources, an established foreign metal producer in Peru, announced current negotiations for an additional acquisition. The company’s long and established relationships with Peru have given the company many opportunities to some of the most sought-after properties in the country, which allows Nilam Resources to have the first right of refusal on exceptional developments. The company desires to add only the best properties, which will raise shareholder value greatly.
“We are very pleased with our current projects and look forward to ongoing growth,” said Alain Vachone. “’Nilams’ goal is to become a major mining company in Peru which will happen through joint ventures and ongoing acquisitions to add to our portfolio.”
The property is a disseminated gold and silver project in the southern part of Peru which has a geological resource totaling 1 million ounces of gold; the infrastructure is exceptional and 60 percent of the project is unexplored. The actual gold price this represents is $1 billion gross value USD.
A skarn copper project returns impressive surface, underground and drilling values. Only four holes have been drilled: two have proved the target and one returned an extraordinary value of 8% Cu over 18 m, which undercut sampling in a short tunnel which yielded at 6% Cu. At existing copper prices, this is approx. $520 per ton over extractable open-pit type deposits. The zone is 900 long 20-30 m wide and may be wider at low grade.
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