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8-K - CURRENT REPORT - IRELAND INC.form8k.htm



Forward Looking Statements

This Presentation may contain, in addition to historical information, forward-looking statements.  Statements in this Presentation that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors” and elsewhere in the Company's periodic filings with the U.S. Securities and Exchange Commission. When used in this Presentation, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential,“ "should," and similar expressions, are forward-looking statements. The risk factors that could cause actual results to differ from these forward-looking statements include, but are not restricted to the Company‘s limited operating history, uncertainties about the availability of additional financing, geological or mechanical difficulties affecting the Company's planned geological work programs, uncertainty of estimates of mineralized material, operational risk, environmental risk, financial risk, currency risk, and other statements that are not historical facts as disclosed under the heading "Risk Factors" in the Company's Annual Report on Form 10-K filing with the SEC and elsewhere in the Company's periodic filings with securities regulators in the United States. Copies of the Company's periodic reports are available on the SEC's website at http://www. sec.gov.

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Company Vision


Build Ireland (IRLD) into a significant mid-tier mining company

IRLD has two precious metal projects with significant potential

Columbus Project - Acquired 100% Gold / Silver mining rights Option to Expand

Red Mountain Project – Option to buy 100% Gold / Tungsten / Silver mining rights

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Columbus Project- Opportunity

With permits already granted, the Columbus Project is
expect to be in production in 2010.

Prefeasibility work and drilling programs for the Columbus Project have been ongoing for the past several years and have:

  • Identified an area containing approx. 200 million tons of mineable material with an average sample head grade of 0.041 oz/per ton Au Equivalent

  • Conducted pilot scale tests indicating extraction rates of precious metals of 70% to 83%

  • Identified a simple low-cost direct leach extraction process

Ireland is an unrecognized investment opportunity and could achieve
substantially higher valuations based on the progress of its technical
program and the value of its resources/reserves.

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Overview

 


Columbus Project Mill-Site Facility

Columbus Project

Gold and Silver Project

A “dry salt marsh” with drill indicated zones of surface mineable material

Mine site production permit has been granted

Short production horizon

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Location


  The Project is located between Las Vegas & Reno in the Columbus Basin, in Esmeralda County, Nevada – a region with a proven history of major discoveries of gold and silver.

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Rich Regional History

 


Columbus Project is in a mineralized area:
 
Round Mountain (Gold)*
         • Owned by Barrick and Kinross
         • 20 M oz gold deposit
         • 16 M oz mined (12M oz extracted to 2008)
         • 97% “invisible” gold
         • Head Grade 0.018 opt Au
         • 2008 Production: +/-600k oz Au
             @125K tpd ore (cyanide)
         • ~ 60 miles from Columbus Project
 
Candelaria (Silver)*
         • Original claims in 1860’s
         • 151 M oz of silver identified
         • 68 M oz of silver mined
         • ~ 5 miles from Columbus Project

 

* - data from published reports

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Project Assets


The Columbus Project consists of :

19,680 acres of mineral claims on federal land administered by the BLM (Bureau of Land Management), with an option for an additional ~22,640 acres.

380 acres permitted to 40 feet for extraction of gold, silver and production of Calcium Carbonate (Zone A - Permitted Mine Area)

- 320 acre mine site, 60 acre mill site
- 15,000 sq ft mill building

Water usage rights of aquifers in basin

80 acres of private land

- Future development flexibility

 

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Technical Program

 * New cost estimatesand recent test results have led the Company to
   believe that the dredge mining method could mine up to 200 feet.

2008 Exploratory Drill Program

39-hole drill program conducted in “Area of Interest” (~5,000 acres / 8 sqr miles)

New Gold/Silver Discovery – Large Tonnage Potential

Three surface mineable areas: ~1,590 acres

Surface up to 200 foot depth

~200MM tons potentially mineable material

Sample average 0.041 opt Au equivalent

Gold is fine and entombed in clays. The challenge of the project will be to extract the Gold from these clays

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Zone B – Mineralized Intercepts


•       Mineralized intercepts •        Mineralization appears •        Dredge mining method
         (identified to date)          to be unbounded in all          could cost effectively
         average grade of 0.045          directions          mine up to 200 foot depth
         opt Au Equivalent            or more

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Project Prefeasibility

Extraction Leach Test Results

Parameter
    
Test Size
(lbs)
Au Equivalent
Head Grade (opt)
% Recovered
into Solution
% Recovered as
Metal-in-Hand
Zone A – Permitted Mine Area 1,738 0.062 86.6% 69.4%
Zone B – Hole (S7B) 2,000 0.070 94.4% 84.1%
Zone B – Drill Composite (S1B) 5.5 0.041 91.0% n/a
Zone B – Drill Composite (S9B) 5.5 0.074 90.0% n/a
Zone B – Drill Composite (S12B) 5.5 0.057 80.6% n/a
  • Bench Scale Tests (5.5 pounds) are not large enough to recover on resins or activated carbon, instead, precious metals were extracted by precipitation from leach solution

  • Zone B is located 3 miles south of the Zone A – Permitted Mine Area

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Independent Confirmation

All reported work to date has been completed and performed by third party engineers/geologists under Chain of Custody (COC)

Technical Team – Independent firms:

Permitting

  • Lumos & Associates – based in Reno, NV

Project Resources

  • McEwen Geological – Drill program management / Modeling
  • Arrakis Inc. – Mining and production process design/ Metallurgy
  • AuRIC Metallurgical Labs – Drill sample analysis / Metallurgy

Project Feasibility

  • Arrakis – Pilot Plant Operations/Project Construction
  • AuRIC – Leach Testing / Extraction Process Development

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Project Pre-Feasibility

Process Flow Diagram


Estimated Operating Costs (similar to typical Tank Leach Operations) ~ $10/ton

Current Production Permits: mine up to 792,000tpy in Zone A – Permitted Mine Area, a 320-acre area, to a depth of 40 ft. (estimated mine life 17+ years)

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2009 Completed Milestones

Discovered mineralized areas; ~1,590 acres potential
 
Average Sample grade of 0.041 opt Au equivalent
Completed two ~2,000-lbs pilot scale leach tests
Extracted Au & Ag with simple direct leach process
Recovered ~70% to 83% of Au and Ag as metal-in-hand
 
Completed eight bench scale tests (~5.5 lbs)
 
Extracted Au and Ag to show consistency in extraction
Tests used to define and refine extraction process
 
~200MM tons of mineable material identified from 2008 drill program results
 
Operated mine (dredge) and pilot plant to test mining and concentrating methods

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Project Development – 2009/2010

 Determine Increased Project Resources/Reserves
 
Expanded drilled area with completed 2009 drill program
Calculate increased project resources and reserves
Complete resources/reserves technical report

Complete Project Feasibility
 
Complete additional bench/bulk leach tests to refine process
Operate on-site pilot plant to optimize/finalize production process
Determine operating/capital costs for full production
Complete site plan for full production facility
Complete application for permit modifications (if necessary)

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Project  Summary


The Columbus Project represents a solid exploration and production opportunity:

Full permit for the extraction of Gold and Silver and the production of Calcium Carbonate

“Big Box Store” of mining operations: high volume and low cost

Near term production potential

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Financial Information

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Capitalization and Finances

Capitalization (11/30/2009)  
Issued and Outstanding 110,899,442
Free Float ~54,000,000
Total Fully Diluted 137,722,430
Market Capitalization (current) ~$50 M
Finances  
Cash (09/30/09) ~$592,000
Recent Financing ~$4,800,000
Budget (Oct 1 ‘09 to June 30 ‘10) $3,312,000

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Expenses

Cash Expenses  
   
Budget (09/01/09 – 06/30/10)  
   
         Columbus Project  
   
                             Property Payments $ 30,000
   
                             Drilling Program and Resource Estimates 395,000
   
                             Pilot Plant / Project Feasibility 1,887,000
   
                             Columbus Project Sub-Total 2,312,000
   
         Red Mountain Project 60,000
   
         General and Admin. 940,000
   
Cash Expenditure $3,312,000

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Investment Summary

  • Exploration company with goal of production in 2010

  • Columbus project has already identified approx. 200m tons of mineable material – avg. sample grade of 0.041 opt of gold equivalent

  • Assembled Talented Technical Team

  • Strong Mineral / Metal Prices

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Ireland Inc.

Corporate Office:

2441 West Horizon Ridge Parkway, Suite 100
Henderson, NV, 89052
(702) 932-0353
info@irelandminerals. com
http://www. irelandminerals.com

InvestorRelations:

Terri MacInnis R. Jerry Falkner, CFA
Bibicoff + MacInnis, Inc. RJ Falkner & Company, Inc.
Tel: 818-379-8500 Tel: 800-377-9893
Email: terri@bibimac.com Email: info@rjfalkner.com

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