Integra Gold (TSX-V:ICG, StockForum), a Vancouver-based exploration stage firm engaged in the acquisition and exploration of Canadian mineral properties, announced today that the company had mobilized a fourth drill rig to Lamaque Gold Project and started a drill hole cementing program at the site located in Val-d'Or, Quebec.
According to the news release, the company intends to continue its accelerated development of Lamaque and will move forward to de-risk the project with a collection of value-adding initiatives.
Since Integra intends to commence underground exploration by 2015, the company is committed to completing certain steps which include the cementing and sealing of recent and historic drill holes as soon as logistically possible.
Integra's cementing program was instigated now to ensure that there will be no delays in the future as specific regions of the project are best examined during the winter months.
The remaining three drill rigs at Lamaque are carrying out infill drilling and testing for mineralization extensions in and around the Triangle Zone.
Integra president and CEO, Stephen de Jong, commented, “Our exceptional access to infrastructure in conjunction with the many advantages of having a near surface, high-grade resource allows us to set ambitious timelines for the development of the Lamaque Project.
Then summed up, “The cementing program announced today, much like the productive community information meeting attended by 300 persons last week in Val-d'Or, are evidence of our commitment to making the Lamaque Project Québec's next gold mine.”
Orbit Garant Drilling (TSX:OGD, StockForum) will do the work and the program is expected to take six months to finish. To date, there are approximately 218 drill holes totaling 85,300 metres at Lamaque that have been singled out for cementation.
Integra was in the news recently when the company held a community meeting and granted stock options.
Shares rose 5% on the news to $0.21 per share, and have risen 35% since early January.
Currently there are 134.2m outstanding shares with a market cap of $28.2 million.
FULL DISCLOSURE: Integra Gold is a Stockhouse Publishing client