While the grades are not fantastic, they won’t necessarily have to be. Their proximity to the infrastructure of Val d’Or and to gold processing facilities will make proving up the economics of this project that much easier for the company as the project moves forward.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 11, 2014) – Integra Gold Corp. (TSX VENTURE:ICG) (“Integra” or the “Company”) is pleased to announce initial results from its fall/winter 2013 Parallel zone drill program at the Lamaque Gold Project located in Val-d’Or, Québec. The Company recently completed 12,589 m in 40 drill holes on the Parallel Zone which is located in the northern part of the Lamaque Project. Results announced today are from the first 20 holes, accounting for 8,050 m of the Parallel Zone program.
When selecting company news to review we generally try to pick new releases with interesting geological data and good learning opportunities. We also try to mix up the deposit types, companies and geographic regions in order to keep things interesting. Lately however, it seems we’ve been giving a lot of attention to gold projects on the Canadian Shield. Part of the reason for this is that there are MANY active gold projects on the Canadian Shield. The shield is a 3 million square mile region of Precambrian bedrock largely exposed at the surface. Within that bedrock, billions of years of stresses and strains have created weaknesses which have allowed the channelling of metal-rich fluids and in some cases the concentrated deposition of gold. (How’s that for a one sentence summary of the gold deposit geology?) In short, there’s lots to talk about here. Now that we’ve made our excuses, let’s talk about Integra Gold’s news.
Integra’s Lamaque project consists of a series of “plugs” hosting structurally controlled vein-type gold deposits. The project is located in Val-d’Or, Québec – part of a prolific gold mining region and home to several operating gold mines.
Press Release Highlights:
- Continuity of high grade zones within block model confirmed
- Drill program at 25-35 meter (“m”) centers completed at Parallel Zone
- Assays pending for second portion of drill program
- Other significant intersections include:
- PV-13-03 with 13.06 grams/tonne gold (“g/t Au”) over 2.00 m
- PV-13-07 with 41.83 g/t Au over 1.10 m
- PV-13-09 with 71.47 g/t Au over 1.00 m
- PV-13-16 with 7.67 g/t Au over 6.00 m
- PV-13-18 with 15.26 g/t Au over 1.00 m
- PV-13-19 with 15.72 g/t Au over 1.00 m
- PV-13-20 with 23.66 g/t Au over 4.00 m
“While a resources estimate updated with new data has not yet been completed, a preliminary interpretation has confirmed continuity of mineralization within zones which previously had only widely spaced drill holes,” commented Company President and CEO, Stephen de Jong. “This is especially significant for the Parallel Zone as there are a number of very high-grade resource blocks which had not had sufficient drilling completed for the resources to be classified as indicated. Mineralization continuity is crucial in these type of deposits in order to develop a successful mine plan. We are more than encouraged by both the continuation of the geological structure and the high grades intercepted throughout this program. Core samples from the balance of the 40-hole, 12,600 meter program at Parallel are being processed currently, after which an updated resource estimate will be commissioned.”
The company has indicated and inferred resources for this project, but these latest results haven’t yet been applied to update the resource. Their most recent resource estimates are shown below.
Gold Resources – January 2014
|Indicated Resources||Inferred Resources|
|Cut-Off||Ounces||Grade (g/t)||Tonnes||Ounces||Grade (g/t)||Tonnes|
This most recent drilling program was designed to increase the resolution of the mineral resources by infilling the gaps with new drill results. This will allow the company to upgrade more of their resource to “Indicated” and give a better understanding of the geology for mine planning. It’s important to remember that a resource estimate is just that – an estimate. By supplying more data, infill drilling increases the confidence level in the reported results and in the resource model.
Drill result highlights include:
|*||Down-hole thickness, true width varies depending on drill hole dip, most holes are set to intersect vein structures perpendicularly|
|**||1.00 g/t Au cutoff – individual assay values uncut – no minimum thickness|
To view a complete table of composited assay results of recent drilling please click on the following link: http://www.integragold.com/i/pdf/2013-Parallel-Drill-Hole-Composites_v2.pdf
I like that the company has included the full drill results (accessible using the link above) in addition to supplying the drill program highlights. They also have not “nested” their drill highlights in a confusing or misleading way. Good to see.
Parallel Definition Drilling Program
The fall/winter 2013 program at Parallel focused on reducing the drill spacing to 25-35 m centers for the upper portion of the deposit, above the 300 m vertical threshold. Drill holes had been previously been spaced approximately 50 to 75 meters apart. The objective of the program was to transfer inferred resources into the indicated category and to confirm mineralization continuity between existing holes. Interpretation and remodelling is ongoing but preliminary indications are that mineralization is continuous between previous drill holes as well as with a number of the high grade intercepts reported.
The first 12 holes of the campaign also aimed to confirm the lateral extent of the lowermost zone, Vein 7, which had previously been drilled at greater than 75 m intervals and reported as a high-grade, inferred resource. Results including 11.14 g/t Au over 1.0 m in hole PV-13-02 and 5.44 g/t Au over 2.0 m in hole PV-13-07, demonstrate that Zone 7 is likely continuous laterally. Although the mineralized structure has been intersected, further drilling may be required to determine the average grade of that zone due to the high variance in assays between drill holes.
The majority of the holes disclosed today intersected mineralization where it was predicted to occur providing further confidence in the Company’s geological model. The most significant and high grade intervals came from Zone 6 which appears to be the most continuous zone at Parallel.
In addition to increasing the resolution of their resource model using infill drilling. They are also testing the boundaries of their higher grade zones and looking for predicted continuities.
2014 Lamaque Drill Program
Planned drilling for 2014 at the Lamaque project has been set at a minimum of 40,000 m which includes a 20,000 meter definition program at the Triangle Zone, definition drilling at the Fortune Zone, and exploration drilling at Plug No. 5 and Mine No. 3.
A total of 4,660 m in 12 holes have been completed at the Triangle Zone as of January 31, 2014, with no assay results available to date.
Project and Company Profile
Integra’s Lamaque gold project is located in the heart of the Val-d’Or gold camp in the Province of Québec, Canada, approximately 550 km northwest of Montréal. Québec is rated one of the best mining jurisdictions in the world. Infrastructure, human resources and mining expertise are readily available.
The Company’s primary objective is to continue to prove up additional resources while advancing the existing resource towards production. The project is divided into three main clusters of mineralization, the North, South and West Cluster. The North Cluster consists of the Parallel, Fortune, No. 5 Plug, and No. 3 Mine zones and is located approximately 1 km northwest from the South Cluster, which includes the No. 4 Plug, Triangle and Triangle South zones. The Sixteen Zone and No. 6 Vein form the West Cluster.
Integra’s methodical approach to advancing it’s project appears to be paying off as predictable results roll in. While the grades are not fantastic, they won’t necessarily have to be. Their proximity to the infrastructure of Val d’Or and to gold processing facilities will make proving up the economics of this project that much easier for the company as the project moves forward.
The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, Eng. and Senior Vice-President of the company, and Francois Chabot, Eng. and Operations and Engineering Manager of the Company, both Qualified Person (“QP”) as defined by National Instrument 43-101, and Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., Geo. of Géologica Inc., both independent QP as defined by National Instrument 43-101. The Company’s QPs have reviewed the technical content of this release.
Quality Assurance – Quality Control (“QA/QC”)
Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all drill holes. The core samples are submitted directly to ALS Laboratory Group and Bourlamaque Labs in Val-d’Or for preparation and analysis. Analysis is conducted on 1 assay-ton aliquots. Analysis of Au is performed using fire assay method with atomic absorption finish, with a gravimetric finish completed for samples exceeding 5 g/t Au, or a metallic sieve assay for samples containing visible gold. When available the gravimetric or metallic sieve assay results are used for the reported composite intervals.
As usual, we take note of the company’s QA/QC procedures.