Integra Gold (ICG.V) will now become one of the larger non-producing employers in the Val D’Or region as the company is creating almost 70 new jobs related to the construction of the underground exploration ramp at the Triangle Zone on its Sigma Lamaque gold project.
The company has awarded the contract to Promec Mining, a local contractor with plenty of experience in the Abitibi greenstone belt. The exploration ramp will be pretty big (5.1 X 5 meters) and will reach the C1 and C2 mineralized zones by completing approximately 420 meters of lateral development. Promec thinks it can advance the ramp at a rate of 175 meters per month (approximately 6 meters per day) which means Integra Gold will reach its target depth of 180 meters in 12-15 months. The total cost of the exploration ramp will be C$26M.
The ramp and the lateral development will allow Integra Gold to get a 20,000 tonne bulk sample out of the ground for additional metallurgical test work. This bulk sample will also provide a very clear view of how the grade of the resource estimate compares to the average grade of the bulk sample, and we wouldn’t be surprised to see the bulk sample coming in at a higher average grade than the resource estimate.
We are currently in Canada and will fly to Val D’Or on Wednesday to see the progress the company has made in the past few years with our own eyes.