Integra Gold (ICG.V), our bet on high grade gold in Québec, has released another exploration update. In this update, Integra reveals that some of the step out holes that were designed to test the extension of the Triangle Deposit have hit some extremely exciting mineralization with intercepts of almost half an ounce of gold per tonne of rock over 6 meters and 16.49 g/t over 2 meters.
This doesn’t only confirm the Triangle Zone indeed extends laterally, it also indicate there might be some higher grade zones as well. This could obviously enhance the economics of the project as a whole and that’s why Integra Gold has decided to increase its drill program for this year from 50,000 meters to 75,000 meters. Approximately 45,000 meters have been completed so far of which roughly 27,800 meters were drilled on the Triangle Zone.
Increasing the drill program after excellent and exciting drill results isn’t really a big surprise and as Integra Gold is pretty much the only exploration company in Québec that has planned a substantial amount of drilling, we can imagine Integra got a pretty decent price quote from its drill contractor. Orbit Garant Drilling (OGD.TO) is also located in Val D’Or just a few kilometers away from Integra’s property which means the mobilization costs for the drill rigs will be quite low.
(Note: Integra's all in drilling costs comes in at under C$100 per/meter)
