RE:GMP Securities: Buy rating and $0.80 target for Integra Gold Thanks Shakerman640! A very comprehensive report. Plus another company issuing coverage on Integra Gold, I believe that makes 10 altogether, sure helps in getting the word out.
A couple of quick remarks - GMP Securities explaining the resource at Triangle, and I quote "A third style of flat extension veins mined extensively in the past at Sigma/Lamaque is locally present - these veins can contain abundant v.g and were significant contributors to historic high grades".
I believe M2 had posted information sometime ago about these flat extension veins, here's a summary - Ideally ICG will begin to build the ramp(s), to get underground, drill the veins from very close proximity, and then incorporate the underground drilling/bulk sampling into a feasibility study. "Drilling in this fashion is important as this type of system also contains subvertical (straight up and down) veins. When subverticals intersect others, historically at Sigma and Lamaque they were called 'jewelry boxes'; quartz with incredible amounts of visual gold embedded. When ICG.V does a resource estimate these bonanza grade intersections are essentially ‘capped out,’ however it has had intersections before of 950 g/T over 1 m. When ICG.V drills from surface it has no idea how many of these straight up and down veins there are as it is drilling along them, when it gets underground it can drill across them and get a much better feel for what is there. The saying in Val d’Or for almost 100 years has been, ‘drill for structure, drift for grade.’ This means a successful drill program is one that hits the structure, or the quartz veining, regardless of grade, as it is not until the miners drift right into the zone the true gold content is realized"
Also this report shows 44,410m in 70 holes have already targeted the Triangle Zone, from August to October 25.
With the 27,815m in 46 holes having already been released to the public, we can now have 16,595m in 24 holes ready for release soon after completion of assay. Along with results from 4,635 m in 21 drill holes, completed during the summer of 2015 on Parallel Zone pending assay.
Finally, this report states that 30% of the Triangle's Indicated Resource is made up within the C4 Structure, and that following the release of the final set of drill results from the 2015 winter/spring program (this will be included in upcoming resource estimate), C4 is now approximately 600m by 500m (from 300m by 200m). Which when doing the math, again looks to me that the Triangle will come in at over 1 million Au ounces, indicated & inferred, at a 3 g/t cutoff.
I've always had very high expectations on ICG,and is by far my biggest holding, but as time goes forward those expectations are even being exceeded!
I agree carnavon720. GLTA