Intchains Group Ltd V.ICG

RE:RE:RE:RE:RE:RE:RE:RE:Prelude to a bidding war

[goldhunter11]

Blue,
Very nice a thorough analysis as usual!

You said:

"Then there's the real "potential" growth of this projects resource:

 

Triangle ...................3-4 million ounces

No.4 Plug ............... 500K-1 million ounces

Sigma Resource .....1-2 million ounces (Micon audited 2015 - 2.4 million ounces M&I, and Inferred)

Deep .......................2-3 million

Lamaque S .............1 million ounces (Parallel, Fortune, Sixteen, No 5, No 3, New Zones currently being drilled)

Lamaque N ............ 500K- 1 million ounces (GRC targets)

Total - 8-12 million

Read more at https://www.stockhouse.com/companies/bullboard/bullboard/v.icg/integra-gold-corp#iCRrZbDUKkmVk6yV.99"
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I have seen the number for Sigma before (e.g. Corp Pres. slide 13 under  "Historic Lamaque North Project"). A resource of 2.4Moz is nothing to sneeze at, even if most of it was with a cut-off of 1gpt. Since  I have put my emphasis on Lamaque South, I just left the stuff in the north end alone assuming that the South side would be of interest to ELD. Also, because of the footnotes, especially #1 I would not know how to handle this 2.4Moz. Presumably, it's still there after 9Moz have been extracted from Sigma and Lamaque North.

Now that you mentioned " Micon audited in 2015" (underlined in the quote above) I went back to the NI-43-101 Tech Report by InnoExplo for ICG and found a note hidden neatly on page 32, referring to Micon audit. They (InnoExplo, simply took Micon number at face value and included the Sigma estimate in their 2015 Tech Report, but did not include this estimate in the current PEA for ICG.

If read it correctly, the Micon audit was done in 2011, not 2015.

However, the bottom line is there is more ozs to be added to the total ozs if the North end including the above 2.4Moz plus the Deep, etc... in the next 12-18 months with some swiss cheese drilling.

Hope this helps.
GH