Integra Gold (ICG.V) has announced its exploration plans for this year and as could have been expected after seeing the company raising C$8.2M in a flow-through financing in December, the company is planning another extensive drill program. 50,000 meters will be drilled this year in 120 drill holes. 4 drill rigs are currently on site and Integra expects to increase this to 7 rigs within the next few weeks.
A large part of the designed exploration program will be focused on the Triangle zone where the company will start an extension drill program in order to potentially increase the resource base at the Triangle zone. Integra will also spend some money on drill-testing so-called ‘flat veins’ which typically have a high gold grade. The past producing Sigma Lamaque mine had encountered these veins and the interpretation of the historical data has indicated these high-grade veins seem to be continuing onto the Lamaque South zone.
It will be a very busy year for Integra Gold and it will be interesting to see how the economics of the project will change in the PFS and FS, as we expect the mine life to be substantially increased resulting in a much higher Net Present Value.
> Click here to go to the company’s 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.
