Integra Gold (ICG.V) has announced a fresh batch of drill results on its Fortune Zone which is a part of its Lamaque project in the very prolific region of Val D’Or in Québec. This drill program was aimed at reducing the drill spacing inbetween the holes from 40 to 25 meters. Even though this might seem like a marginal reduction in the drill spacing, keep in mind this should allow the company to upgrade a part of its resources as the narrower spacing increases the confidence in the geological model.
As could be expected, the infill drill program intersected more gold and there seem to be some extraordinarily high grade intercepts. Albeit short, a 0.6 meter containing almost 2 ounces of gold per tonne of rock isn’t really something you could easily dismiss. The real eye-catcher however are the longer intercepts of 2.7 meters of 19g/t gold and 2.5 meters of 24 g/t. More importantly, these intercepts were quite shallow (at a depth of respectively 70 meters and 32 meters).
The same results can be found at the No 5 Plug zone where relatively short intercepts returned exceptional grades with several assays averaging inbetween 0.5 and 2 ounces of gold per tonne of rock. This is an excellent achievement but Integra will have to narrow down its drill spacing on the No 5 Plug Zone if it wants to get the majority of its mineralization in the measured and indicated category. The main takeaway however is that the vein structure at the Plug Zone seems to be similar to the structure of the Sigma-Lamaque mine which is just a few hundred meters away.
Integra Gold is finalizing an updated Preliminary Economic Assessment which should be ready within the next few weeks. We will be looking forward to see the impact of the Sigma-Lamaque mine and mill acquisition on the initial capital expenditures and the opex, as we expect both to drop.
> Click here to read the press release
Disclosure: The author holds a long position in Integra Gold. Integra is a sponsor of the website. Please see our disclaimer for current positions.
