Integra Gold (ICG.V) will very likely continue to entertain the market during the winter period as the company is obviously still drilling at its Lamaque project in Québec.
The Parallel zone has been somewhat ignored by the market lately after some exciting discoveries at the Triangle portion of Lamaque South, but Integra shareholders shouldn’t forget the Parallel zone, which currently contains in excess of 210,000 ounces gold at an average grade of in excess of 10 g/t. As this zone is located relatively close to the existing underground workings at the nearby Sigma and Lamaque mines (with an existing underground ramp just 700 meters away), the Parallel zone will continue to play an important role in further development scenario’s at the project as a whole.
The infill drilling was aimed to reduce the spacing in between drill holes to increase the confidence of the mineralized structures, as well as to confirm the continuity of the 6B-zone, another high-grade zone which is one of the highest grade and most continuous zones at Parallel. An updated resource estimate will be completed now, and this will allow Integra to incorporate the (very likely larger) resource in the mine plan for the upcoming PEA.
The winter is coming to Val D’Or and shareholders better start hoping it will start to get colder as that will improve the drilling efficiency. That’s why Integra is planning to have 10 drill rigs on site to drill up to 18,000-20,000 meters per month as long as the weather conditions permit.
Go to Integra’s websiteDisclosure: The author holds a long position in Integra Gold. Integra also is a sponsor of the website. Please see our disclaimer for current positions.
