Hochschild Mining said the resources at its Inmaculada project in Peru have more than tripled and is expected to produce 11 million silver equivalent ounces a year.

The company’s partner in the project, International Minerals Corp, has completed a scoping study that reveals the deposit contains 532,000oz of gold, which is a 245% increase, and 15.8 million ounces of silver, an increase of 225%.

Hochschild, which holds a 30% interest in the Inmaculada project, said a full feasibility study is scheduled to be completed by the end of 2011.