Integra Gold (ICG.V) has released new drill results on its fully-owned Lamaque gold project in Québec, Canada. Of interest are the intercepts of 9 meters at 11.4g/t and an ultra-high grade intersection of 2 meters at in excess of 3 ounces per tonne of gold.
These drill results are extremely important to fine-tune the geological model of the Lamaque project, as these holes confirm the continuity of mineralized zones. On top of that, most of the drill holes were drilled in between older holes which opens the possibility to upgrade a part of the inferred resources to the indicated category, which increases the quality of the ounces. According to CEO Stephen de Jong, more core samples are currently being processed which should lead to another resource update later this year.
Integra Gold is expected to release a PEA later this month, and we are looking forward to the results of this report as we expect a project with a low initial capital expenditure and a high internal rate of return.
> Click here to read the press release
Disclosure: The author holds a long position in Integra Gold. Integra Gold is not a sponsor of the website, but we were compensated by a third party to initiate coverage. Please see our disclaimer for current positions.
