Integra Gold (ICG.V) has announced another batch of drill results from its Lamaque gold project in Val D’Or, Québec. In excess of 25,000 meter was drilled at the Triangle Zone of the project and these (final batch of) drill results are very encouraging as the program was focused on reducing the spacing in between drill holes from 50 meters to 25 meters. This should allow the company to upgrade a part of its resource into higher categories as the confidence in the geological model will increase. The mineralization was pretty consistent with what was found before as intercepts of 9.75 meters of 9.41g/t and 3 meters of 20g/t are very exciting.
In excess of 65,000 meters has been drilled since the previous resource estimate, and Integra expects to release an update in the fourth quarter of this year. As the drill spacing has narrowed, we are expecting a conversion of inferred ounces into the indicated category. We will be very interested to see the new resource estimate at the Parallel Zone as we expect the mining activities to commence there, as the ore body could be reached through the existing underground workings of the Sigma-Lamaque mine and as this zone is the closest to the recently acquired 2,200 tpd mill.
> Click here to read the press release
Disclosure: The author holds a long position in Integra Gold and has participated in the most recent private placement. Integra is a sponsor of the website. Please see our disclaimer for current positions.
