Integra Gold (ICG.V) has released new drill results on its 100% owned Lamaque gold project near Val D’Or, Québec and the company seems to be doing a great job there as it has pulled its best intercepts ever with 11 meters at almost half an ounce of gold per tonne and 13 meters of in excess of 10 g/t gold at a depth of respectively 604 and 583 meters. These intercepts indicate there’s indeed a lot of additional potential at depth as only a few deep holes were drilled before. This validates the thesis that the Lamaque mineralized system could continue much deeper, as several operating mines on the Abitibi greenstone belt have found mineralization up to a depth of 2,000 meters and deeper.
The more drill results Integra Gold is releasing, the more we are looking forward to an updated resource estimate. Should the additional resources be included in the pre-feasibility mine plan, the NPV of the Lamaque project will increase substantially. Another important thing is that the mineralization was encountered within meters where the geological model predicted it would be, and this adds a lot of confidence to the mine plan outlined in the preliminary economic assessment on the property.
We are still greatly encouraged by the intercepts being pulled out of the ground by Integra Gold as Lamaque seems to be shaping up to be a very important new gold project for the Val D’Or region. We are planning to release a Q&A report with CEO Stephen de Jong shortly to discuss the recently filed preliminary economic assessment.
> Click here to read the press release
Disclosure: The author holds a long position in Integra Gold. Integra 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.
