Integra Gold (ICG.V) has released a first outcome of its study on the no less than 6 terabyte of data which was included in the package when it acquired the Sigma-Lamaque mill last year. This data includes over 30,000 drill holes and in excess of half a million assay results, so it’s a very valuable asset and it allowed Integra Gold to generate new exploration ideas and concepts.
The first phase of the ‘virtual’ exploration programme has uncovered several new exploration targets at extensions of previously mined zones at the mine, as well as the Lamaque Deep zone which could very well be the discovery of the year in Québec. Integra Gold has started the second phase of combing through the historical data and this should lead to target generation by the end of the third quarter of this year.
Integra Gold has now also announced an exploration target of 8-20 million tonnes at an average grade of 5.5-6.5 g/t gold for 1.4-4.2M ounces. Yes, that’s a very wide exploration target, but it shows the potential to add more ounces to the current resource estimate at the Lamaque project.
Integra is gearing up for a very busy summer exploration program funded by its current working capital position of $15M. We expect to release a Q&A with the company’s management team on the most recent developments later this month.
> Click here to see the Lamaque Deep presentation (RECOMMENDED!)
> Click here to go to Integra’s website
Disclosure: The author holds a long position in Integra Gold. Integra is a sponsor of the website. Please see our disclaimer for current positions.
