Management’s Discussion and Analysis ! Integra Gold Corp.
Management’s Discussion and Analysis
https://www.stockwatch.com/News/Sedardoc.pdf?docid=3835847
OUTLOOK
The recent drill results from Lamaque, and specifically Triangle, continue to demonstrate the excellent upside potential of the property. The Company expects another busy year of exploration in 2017 both at surface and underground, with approximately 100,000 m of surface drilling and 10,000 m of underground drilling planned. The focus of the 2017 program will remain the Triangle and No. 4 Plug deposits, with some drilling (approximately 10,000 m) to be performed on early stage targets generated from the Gold Rush Challenge throughout the Lamaque property as well as at the Lamaque Deep target. In addition to drilling the Company is continuing its underground exploration program at Triangle that will include collection of a bulk sample in one of its principal mineralized zones, the C2 structure. The program, for which underground ramping started in July 2016, is expected to be completed in the fourth quarter of 2017. Integra expects to start extracting the bulk sample in the summer of 2017. Results of the bulk sample are anticipated in Q4 2017.
Exploration
As of May 26, 2017, the Company had eight drill rigs turning with over 14,000m in drill assays currently pending. A total of 36,400 m in 177 drill holes has been completed at Lamaque (Triangle, No. 4 Plug, and Deep Lamaque targets) in 2017 to date.
The exploration ramp excavation performance is in line with budget target at 175m/month for single face and 205m/month for double face development operator. Cycling the development stages during 10 hours shift for a round of 3.5m long, is done about 75% of the time. The East ramp can be started with a third team of development when required. Development of the Alimak raise to the surface was completed.
The personnel to serve for a second team of development for level cross-cut and ore sub-level mining is mobilizing in May and will be fully operational in June. Various mobile equipment to support the second team has been ordered and will be available in June to support the second team.
Up to now in 2017, about 1,000m of exploration development headings were advanced, including approximately 500m directly for the ramp. On May 26, 2017, the west ramp reached elevation 5205, which is 115m below surface. There are 3 sub level extractions to be done to reach the ore at elevation 76m, 94m and 112m. Definition drilling at a 10m spacing has been completed at elevation 76m and 94m.
The Company also announced positive drill results from its drilling programs at Triangle and other targets subsequent to the end of the quarter.
Drill results include the following:
On April 11, 2017, Integra announced that it has commenced a 10,000m underground drill program at Triangle. The underground drill program has been designed to test the bulk sample target in the C2 structure at 10 m centers. Drill bays for this program are located at the 76 level and 94 level (vertical distance in m from surface) of the Triangle exploration ramp. The completion of the bulk sampling program are expected in the second half of 2017.
On April 18, 2017, Integra announced assay results from its drill program of the C2, C4 and C5 structures at Triangle. Results from the C2 structure included 108.39 g/t Au over 3.40 m and 15.66 g/t Au over 4.90 m.
M2