RE:4 to 5 m oz @ Lamaque Deeps !M2, if the bottom of Lamaque/Sigma plugs are the same as the top then there will be 8 million recoverable ounces down to 2,800 meters. Share price would jump to over $3 in a year IMO as the drill results kept coming in. A big hit at Lamaque Deep makes financing a breeze. It has been a tough couple of weeks but the potential results from the LD drilling are worth the risks. Below are highlights from the LD drilling news release.
("Integra" or the "Company") is pleased to announce the initiation of a 2,000m pilot hole on its Lamaque Deep target . Once the pilot hole has been completed the target will be tested with a minimum of 15 wedged holes originating from the pilot hole at various intervals. The Company is anticipating the entire program including wedges will total 10,000m of drilling. The target area, defined by a box that's roughly 1 km by 1 km starting at a depth of 1,000 m below surface. The master pilot hole will be located in the structural footwall of the mineralized intrusive plug. The completed master pilot hole will then form the origin for multiple (minimum of 15) wedged off-set holes at various intervals below 1,000m vertical depth, designed to test for gold mineralized extensions below Lamaque.
The Lamaque and Sigma Mines are located 500m from one another and are being interpreted by the Company's exploration and geological team as two different setting of a singular gold deposit and mineralized system. The mines were not closed as a result of the mineralized system being exhausted at depth. Integra's compilations of mine workings from the lowest levels of mining at Lamaque conducted by Teck, showed excellent gold grades often in excess of 15 g/t and vein continuity over hundreds of meters; hence the view that the mine was not shut down due to lack of gold or pinching veins at depth. The historic data compiled by the Company provides compelling evidence that down-dip extensions of the gold-bearing system of the Lamaque Mine Main Plug, where it intersects shear structures dipping south from the Sigma Mine side of the original property boundary, continues at depth. As part of the compilation process, a 3D model of the main mineralized structures and geology has been produced and clearly demonstrates the potential for significant gold resource extensions at depth. Integra's technical team, supported by external experts, has identified several instances in the database showing documented proof that gold mineralization, both low and high grade over wide zones in excess of 90m in thickness, exists in conjunction with the depth extensions of the Lamaque Mine itself. The Company's technical team has concluded that the historic results clearly demonstrate proof-of-concept that gold mineralization continuity exists at depth below the two mines and warrant further drill testing.
Geological compilation work has also demonstrated that the Lamaque Deep target area hosts most of the gold bearing structures and favorable host rocks from both mines providing optimal gold discovery conditions: pipe-like intrusive dioritic "plugs," a favorable host rock which dips northeast towards the Sigma mine, and similar quartz-tourmaline-pyrite gold bearing vertical and "flat" veining arrays related to shear zones. The downward projection of most of the gold mineralized shear zones from the Sigma Mine are also dipping southward towards the extension of the Lamaque Main Plug itself, providing an ideal exploration target area below 1,100m depth at the Lamaque Mine.
Compilation work shows that this target zone with its optimal set of host conditions was previously intersected in a very limited historic drill-campaign conducted in 1997 by previous operators. The drilling intersected significant widths of gold mineralization. These limited gold intercepts with the optimal target horizon provided strong evidence of continuity at depth. Aggressive drill campaigns on the Triangle and other deposits over the past 4 years, together with information gathered during the Company's recent Gold Rush Challenge, were also of tremendous value in identifying the ideal target conditions related to the Lamaque Deep concept. The structural and lithological similarities between Triangle/No. 4 Plug and Sigma/Lamaque cannot be ignored, nor can the valuable lessons learned from the Gold Rush Challenge. Both have been pivotal in the structuring of this Lamaque Deep drill campaign.
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