It has been a while since Integra Gold (ICG.V) had released some exploration results, but patience always is being rewarded, as today’s results are once again very impressive. We won’t bore you by repeating the intersects with the grade (although it’s very nice to see intercepts of 2 meters at in excess of 1 ounce of gold per tonne, as well as 5 meters at 7.45 g/t and 4 meters at 22 g/t at the triangle zone), but will try to explain the importance of these holes.
As you can see on the previous image, this year’s drill program is considerably expanding the mineralized footprint of the C4 structure at the Triangle zone. There are still assay results from additional drill holes pending, but it should be pretty obvious the footprint of the C4 zone could easily double.
The additional results of drill holes 15-10A, 15-17 and 15-22 will be extremely important to further confirm the potential of this zone, and the current resource estimate of almost 200,000 ounces of gold could easily be doubled to 400,000 ounces. On top of that, if holes 15-11A and 15-19 (on the right side of the map) hit mineralization with an economic grade, then all bets are off. After the assay results of the last six holes will have been released, Integra Gold will update its resource estimate at the Triangle Zone and we would expect Triangle to get close to one million ounces of gold (using a 5 g/t cutoff grade).
Integra seems to be encouraged by these assay results as the company has once again decided to increase its drill program to 90,000 meters (keep in mind the original 2015 exploration program called for a 50,000 meter exploration program) and this is very likely the largest drill program by a junior company in Québec and probably in Canada as well.
Disclosure: The author holds a long position in Integra Gold. Integra is a sponsor of the website. Please see our disclaimer for current positions.