Integra Gold Corp. (TSX-V: ICG) today announced that it has completed a global resource estimate on its 100% owned Lamaque South Gold Project in Val-d’Or, QuÃ©bec. This update includes resource estimates on the Triangle, No. 4 Plug, Sixteen, Fortune, No. 6 Vein, and Parallel deposits.
Triangle deposit (3.0 g/t Au cut-off): indicated resources increased 17.5% from 627,810 gold (“Au”) ounces to 737,590 Au ounces grading 7.01 g/t Au and inferred resources increased 15.2% from 871,530 Au ounces to 1,004,170 Au ounces at an average grade of 6.94 g/t Au.
Triangle deposit (5.0 g/t Au cut-off): indicated resources increased 15.2% from 503,420 Au ounces to 580,150 Au ounces grading 8.96 g/t Au and inferred resources increased 14.5% from 676,960 Au ounces to 774,880 Au ounces at an average grade of 9.03 g/t Au.
23,800 meters (“m”) of new drilling incorporated into resource estimate announced today. Next resource estimate (Q1 2017) will incorporate an additional 105,000 m (290 drill holes) of diamond drilling at the Triangle deposit (“Triangle”) with an estimated assay database cut-off date of December 31, 2016.
Triangle indicated and inferred resources are now 247% and 505% larger, respectively, than the resource estimate used for the Company’s most recent PEA (January 2015, 5 g/t Au cut-off). An updated PEA using the resource estimate announced today is underway with an expected completion date in early Q1 2017.
Not included in the Lamaque Property global resource estimate summary (Tables 1 and 2) are the lower grade vein clusters at the No. 4 Plug deposit (“P4 Clusters”) which account for indicated resources of 185,720 Au ounces grading 3.93 g/t Au and inferred resources of 188,900 Au ounces grading 3.12 g/t Au. When included in the total for the Lamaque Property resource estimate, global indicated resources increased by 13% while global inferred resources increased by 44%.
Six drill rigs currently active on the Lamaque Property, 22,550 m in drill assays currently pending, Lamaque Deep hole has reached target depth of 2,200 m and first wedge is planned to start shortly, exploration decline has advanced 370 m towards Triangle and the Company has $43 million in the treasury not including marketable securities.
Continue to complete press release: http://www.integragold.com/s/news_releases.asp?ReportID=770772