Integra Resources (ITR.V, ITRG) isn’t even halfway its current drill program on its producing Florida Canyon mine, but it has already shared some initial assay results. The current drill program, which has been increased by 60% to approximately 16,000 metres of reverse circulation and sonic drilling was focusing on three key elements.
First of all, the company wants to determine if rock that was previously categorized as waste could now perhaps be economical given the current gold price now it is strongly trading above $3000 an ounce. A second focus point was to expand the resources between the existing open pits while the third key element was to test lateral extensions and complete an in-pit infill drill program.
These initial results seem to confirm the theses as some of the holes intersected thick intervals of low-grade material that very likely wouldn’t work at $2000 gold, but could be viable at $3000+ gold. With almost 69 meters of 0.28 g/t gold, almost 72 meters of 0.36 g/t gold and 47 meters of 0.37 g/t gold, the North Dump could potentially host some economic material. Integra Resources mentioned approximately 70% of the drill intercepts exceed the 0.11 g/t cutoff grade that’s currently used at the mine.
Integra also completed some holes in between the existing pits (shown in the image on top of this page), and highlighted some intervals in the bullet points here below.
As mentioned, drilling is ongoing, and Integra should release assay results and exploration updates on a continuous basis.
Disclosure: The author has a long position in Integra Resources. Integra is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
