Integra Gold (ICG.V) has announced an updated resource estimate on its Lamaque gold project in Québec. Using a cutoff grade of 3g/t the total resource estimate is 930,000 ounces of gold at an average grade of in excess of 8g/t. If we apply a higher cutoff grade of 5g/t, the resource falls to 735,000 ounces of gold, but the average grade increases to almost 12g/t, which makes the Lamaque project an extremely interesting exploration property.
As the company has recently raised $4.4M in a private placement and received a tax rebate of $0.75M from the Québec government, Integra is in an excellent position to continue its exploration efforts at Lamaque to break to the important 1Moz mark.
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Disclosure: The author holds no position in Integra Gold. Please see our disclaimer for current positions.
