Integra Gold (ICG.V) discovered more high-grade gold during its infill drill program on the C1 structure at the Lamaque project in Val D’Or, Québec. The existing mineralization was confirmed by 3.2 meters of almost 13 g/t gold and a bonanza-interval of 1.5 meters at almost 7 ounces (yes, ounces) of gold per tonne (on an uncapped basis).
Of course, we shouldn’t be too surprised to see the infill drill program confirming the expectations, but it always creates more confidence for investors (and the company) to know the structures are indeed behaving as expected, and the more data one can include in the mine plan, the better.
Integra hasn’t just been doing some infill drilling, it has also been focusing on getting some step-out drilling done, and has directed a drill rig towards the C5 structure at the Triangle zone. As this drill program has now expanded this C5 structure by approximately 250 meters (towards the east), C5 is shaping up to be a ‘beast’ and could add a substantial amount of ounces to the resource estimate at Lamaque.
And it’s not just the C5 zone which continues to confirm the expectations, Integra has also drilled a hole 75 meters to the east of the C4 structure and with a result of almost 5 meters at 0.2 ounces of gold per tonne of rock, it’s now very realistic the total resources at the C4 structure could now increase as well.
Integra currently has no less than 7 (!) drill rigs on site and plans to complete 90,000 meters of drilling this year which would make it the most active exploration company in Canada and probably in the entire world. The C$15M in cash that will be raised in a flow-through bought deal will be used to cover the exploration expenses as well as constructing an exploration drift at the Triangle zone in preparation of a bulk sample.
Go to Integra’s website
The author holds a long position in Integra Gold. Integra Gold is a sponsor of the website. Please read the disclaimer
