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Update on exploration activities
Integra Gold Announces $7 million Private Placement of Flow-Through Shares
Integra Gold (TSXV: ICG) (“Integra” or the “Company”) is pleased to announce that it will raise $7,000,000 by way of a non-brokered private placement of 7,000,000 Québec super flow-through common shares of the Company (the “Shares”) at a price of $1.00 per Share (the “Offering”).
It is expected that the closing of the Offering will occur on or about December 20, 2016 and is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals including the approval of the TSX Venture Exchange. The Shares issued in the Offering will be subject to a four month hold period. A single investor is the final purchaser of the Shares in the Offering.
The Company intends to use the gross proceeds of the Offering to advance its aggressive surface exploration program which is focused on expanding or establishing mineralization at several known deposits targets including but not limited to the Triangle Deposit, the No. 4 Plug Deposit, the Gold Rush targets and Aumaque. All of the expenditures funded with the gross proceeds of the Offering shall qualify for “Canadian Exploration Expenses” (within the meaning of the Income Tax Act (Canada)) related to the Company’s Québec mineral concessions. The Company will agree to renounce such Canadian Exploration Expenses with an effective date of no later than December 31, 2016, in the aggregate amount of not less than the total amount of the gross proceeds raised from the issue of Shares.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.
Project and Company Profile
Integra is a junior gold exploration company advancing projects in Val-d’Or, Québec, one of the top mining jurisdictions in the world. The Company’s primary focus is its high-grade Lamaque South project.
In the fall of 2014, Integra completed the accretive acquisition of the Sigma Mill and Mine Complex, a fully permitted 2,200 ton per day mill and tailings facility. With major federal and provincial permits in place, existing infrastructure and significant exploration potential, this acquisition removed major costs and shortened timelines typically associated with mine projects. Integra has raised over $120 million since 2013, at successively higher share prices, despite depressed gold prices. In August 2015, Eldorado Gold Corporation completed a strategic investment in Integra, acquiring 15% of the outstanding common shares. Integra was recently named to the TSX Venture top 50 performers in 2015 and the OTCQX Best 50 award for 2015.
ON BEHALF OF THE BOARD OF DIRECTORS,
Stephen de Jong
CEO & President
Follow Integra Gold On:
- Twitter: https://twitter.com/integragoldcorp
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking statements, including the timing and completion of the Offering. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Chris Gordon
chris@integragold.com
Or visit the company website: www.integragold.com
Integra Gold Donates Proceeds of Gold Rush Challenge Finale Event, Over $260,000 to Local Charities in Val-d'Or, Québec
“The town of Val-d’Or was built after the discovery of gold here in the early 20th century,” comments Val-d’Or Mayor, Mr. Pierre Corbeil. “Most importantly, Integra understands that the heartbeat of a town is not provided by any metal, but rather by the people that call it home. This donation and the commitment it displays to the people of Val-d’Or is a significant step for Integra Gold. It is clear that Integra’s community engagement has been a focus of the Company from the beginning, and we applaud them for taking their role as responsible corporate citizens seriously.”
Integra raised funds through table sales and corporate sponsorships at its Gold Rush Challenge “Shark-Tank” style live finale event hosted in March 2016. The finale marked the culmination of Integra’s $1 million crowd sourced competition, which saw experts from around the globe evaluate historic data to come up with high quality exploration targets using leading edge exploration-targeting technology. Several of the targets generated are scheduled to be drill tested this quarter. Of the funds raised at the live finale, A$100,000 was generously matched by the Macquarie Group Foundation.
First Annual Integra Gold Fête d’Été
On August 3, 2016 at the Cité de l’Or museum grounds, the historic site of Val-d’Or’s Lamaque Mine, Integra Gold and its key contractors hosted a company expo and barbeque with over 500 members of the Val-d’Or community in attendance. Local partners and contractors, including Forage Orbit Garant, Atlas Copco, Fournier et Fils Inc., SGS Geostat, and Promec Mining joined Integra staff in a public exposition where members of the community were given the chance to review the Lamaque project’s progress to date, enjoy a guided bus tour of the property, and discuss firsthand the Company’s plans for the future and the positive impact they will have on the community with both management and the Board of Directors.
To view photos from the Integra Gold Fête d’Été, click the following link: https://www.integragold.com/i/pdf/Integra-Aug-10-2016.pdf
Donations Presented to Diverse Group of Local Charities
Identifying broad based areas for giving, Integra chose seven key charities to which it directed over $260,000 in charitable proceeds. These charities include:
- The Fondation du Centre Hospitalier de Val-d’Or — Donation to support the Val d’Or Hospital’s Nuclear Medicine specialist department, which serves a regional population of 150,000 throughout the community of the Abitibi-Témiscamingue. For more information, please visit their website at www.fondation-chvd.qc.ca/.
- Maison de la source Gabriel — Donation will be used to improve facilities and fund their palliative care house in Val-d’Or. For more information please visit their website at www.maisonsourcegabriel.com.
- Fondation de l’UQAT — Donation will support various scholarships for students and fund the purchase of new equipment to carry out academic research in the Abitibi-Témiscamingue and Nord-du-Québec. For more information please visit their website at https://www.uqat.ca/.
- Fondation du Cégep de l’Abitibi-Témiscamingue — Donation will be added to the foundation’s capitalisation fund from which scholarships will be distributed annually. For more information please visit their website at https://cegepat.qc.ca/Fondation/.
- Golden Valley School — Donation will be used for important schoolyard improvements. For more information please visit their website at https://wqsb.qc.ca/goldenvalley/.
- Fondation Brousseau-Dargis — Donation will help fund programs working with mental health in the community.
- Maison des Jeunes l’Energitek — Donation will assist with a major expansion project within this community youth organization. For more information please visit their website at https://mdjenergiteck.com.
Project and Company Profile
Integra Gold is a junior gold exploration company exploring advanced stage projects in Val-d’Or, Québec, one of the top mining jurisdictions in the world. The Company’s primary focus is its high-grade Lamaque South project. In 2014, Integra completed the accretive acquisition of the Sigma Mill and Mine Complex, a fully permitted 2,200-2,400 ton per day mill and tailings facility. With major federal and provincial permits in place, existing infrastructure and significant exploration potential, this acquisition removed major costs and shortened timelines typically associated with developing mine projects. With a current market capitalization of approximately $400 million, Integra has raised over $100 million since 2013, at successively higher share prices. Integra was recently named to the TSX Venture top 50 performers in 2015 and the OTCQX Best 50 award for 2015.
ON BEHALF OF THE BOARD OF DIRECTORS,
Stephen de Jong
CEO & President
Follow Integra Gold On:
- Twitter: https://twitter.com/integragoldcorp
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Chris Gordon
chris@integragold.com
Or visit the company website: www.integragold.com
Integra Gold Intersects 14.82 g/t Gold Over 7.9 m in C2 Structure, 15.64 g/t Gold Over 6.7 m and 12.91 g/t Gold Over 4.0 m in C4 Splay Structure (All Results Uncapped)
Press Release Highlights:
- Results received from the C2, C4, and C5 structures continue to support internal continuity and lateral expansion potential with both infill and step-out drill holes intersecting significant mineralization in some cases up to 100 meters away from currently modeled resource envelopes
- High grade results from intercepts in the C4-30 footwall splay structure (50 m below the C4 structure, estimated dip of 55-60 degrees) indicating C4 footwall sub-parallel structures carry additional resource potential
- Results announced today are from 14,370m of 2016 drilling; assays are currently pending from an additional 44,370m (121 drill holes) of diamond drilling at Triangle
- Core logging backlog from the intensive winter drilling program was recently eliminated; the Company is actively working on also eliminating the core sampling and assaying backlog which is estimated at 20,000 samples
- 4 drill rigs are currently active on the Lamaque Gold Project
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF), (“Integra” or the “Company”) is pleased to announce additional assay results from its Fall 2015/Winter 2016 drill program on the Triangle Deposit (“Triangle”) situated on the Lamaque South Gold Project (“Lamaque”) in Val-d’Or, Québec. These results continue to highlight the continuity and resource growth potential at Triangle.
“These results show both strong mineralization continuity and exciting resource growth potential within the C-type structures at Triangle. We are especially encouraged by the growth we’re seeing in the near-surface C2 structure which will be targeted with the underground exploration program now underway with 75 m of ramp development completed to date,” commented Company President and CEO, Stephen de Jong. “Impressive results from hole TM-16-101 are also significant as they show the potential of the splay-type structures from the primary C4 structure. These C4 splays, which occur between the C4 and C5 zones as secondary structures, are steeply dipping and initial work indicates they may also be amenable to the same long-hole mining method that is proposed for the C structures.”
To view a cross section of Triangle and No. 4 Plug deposits as well long sections of the C2, C4 and C5 structures please click on the following link:
https://www.integragold.com/i/pdf/Triangle-Longsection-Index-August-2016.pdf
Infill Drilling at C4 Showing Mineralization Continuity and C4 Secondary Splay Structures Growing
Infill drilling results disclosed today include intercepts within C4, the largest high-angle structure at Triangle to date, which continues to demonstrate the internal continuity of gold mineralization within the deposit. Results from this zone include 7.36 g/t gold (“Au”) over 8.2m (TM-16-103AM01, 5.39 g/t Au when capped at 34.3 g/t Au, downhole width) located in the center of the zone occurring at approximately 525m vertically below surface.
In addition, high grade results from two intercepts in the C4-30 footwall splay structure (50 meters below the C4 structure) indicate that these also steeply dipping C4 sub-parallel splay structures (dip estimated at 55 to 60 degrees) also carry significant resource potential. These intercepts returned the following results:
- 12.91 g/t Au over 4.0m (TM-16-086, 11.91 g/t Au when individual samples are capped at 34.3 g/t Au)
- 15.64 g/t Au over 6.7m (TM-16-101, 9.40 g/t Au when individual samples are capped at 34.3 g/t Au)
As illustrated in the attached vertical longitudinal section of the C4 structure (see link below), additional results are pending from multiple infill and extension drill holes at various depths ranging from 325 to 825m vertical.
https://www.integragold.com/i/maps/LS_C4-DDH_20160809_with_class.pdf
Triangle Drill Results Summary
The table below highlights selected results from this tranche of drill results, link to full table below:
Drill Hole Number | From (m) | To (m) | Interval (m)(1) | Gold Assay (g/t)(2) | Interpreted Zone | |||||
TM-15-064W01M02 | 449.30 Capped | 449.80 | 0.50 | 113.89 34.30 | n/a | |||||
TM-15-064W01M03 | 735.00 1021.00 | 737.70 1023.00 | 2.70 2.00 | 7.49 6.52 | C4 n/a | |||||
TM-16-086 | 583.70 591.50 639.00 Capped | 589.00 592.00 643.00 | 5.30 0.50 4.00 | 7.97 19.82 12.91 11.91 | C4 – C4-30 | |||||
TM-16-091 | 1022.00 | 1024.50 | 2.50 | 7.68 | C5 | |||||
TM-16-101 | 144.90 243.50 302.00 549.90 Capped 614.80 Capped | 146.90 247.60 309.40 556.60615.30 | 2.00 4.10 7.40 6.700.50 | 6.66 3.42 1.67 15.64 9.40 82.95 34.30 | n/a n/a n/a C4-30n/a | |||||
TM-16-103A | 152.60 | 155.10 | 2.50 | 4.32 | n/a | |||||
TM-16-103AM01 | 508.20 532.30 598.10 Capped 610.00 642.60 756.10 Capped | 509.30 535.60 606.30612.00 648.40 756.60 | 1.10 3.30 8.202.00 5.80 0.50 | 22.05 5.46 7.36 5.39 6.61 7.54 172.34 34.30 | n/a n/a C4n/a n/a n/a | |||||
TM-16-115 | 450.00 | 454.00 | 4.00 | 5.87 | – | |||||
TM-16-153BM01 | 647.10 681.40 743.50 | 650.10 682.00 745.80 | 3.00 0.60 2.30 | 7.47 26.76 8.84 | n/a n/a C5 | |||||
TM-16-159 | 320.90 Capped 677.00 920.20 | 328.80679.50 922.50 | 7.902.50 2.30 | 14.82 12.92 6.50 8.39 | C2C4 n/a | |||||
n/a – no zone assigned yet | ||||||||||
(1) | Downhole thickness; true width varies depending on drill hole dip; most drill holes are aimed at intersecting the vein structures close to perpendicular therefore true width are close to down hole width (approximately 85% conversion ratio); true width of C structures intercepts are presented on longitudinal sections. |
(2) | For known mineralized zones, intervals are based on geological observation, i.e. on the amount of quartz veining, a 1.00 g/t gold cut-off for compositing in intervals outside mineralized zones; individual composites are presented uncap and cap (when applicable) with individual values capped at 34.3 g/t Au; no minimum thickness considered. |
Click on the following link to view a complete table of available composited results for the fall 2015 and winter 2016 drilling at Triangle (drill holes disclosed today are identified in red font):
https://www.integragold.com/i/pdf/Fall-2015_Winter-2016_Composites_Compilation_Triangle-.pdf
Lateral Extension of C5 Structure Identified in 100m Step-Out
Extensional drilling of the C5 structure indicates lateral extension of this major structure of up to 100 m to the west with result of 7.68 g/t Au over 2.5m (TM-16-091) reported at a vertical depth of approximately 825m. This additional 100m of strike potential on C5 indicates substantial resource upside potential which currently accounts for a small portion (<10%) of the Triangle deposit’s total resources. The C5 structure, which has had materially less drilling completed on it when compared to the C4 structure, is viewed as one of the Company’s highest potential targets and will continue to be tested from both surface and later on from underground as exploration at Triangle continues to advance.
Please review the attached vertical longitudinal section of the C5 structure by clicking on the link provided below.
https://www.integragold.com/i/maps/LS_C5-DDH_20160805_with_class.pdf
Resource Growth Potential for the C2 Structure Highlighted by TM-16-159
As reported in previous news releases, the C1 and C2 structures host the majority of the gold mineralization for the upper portion of Triangle and will be the focus of an underground exploration program initiated in July of this year. Today’s results in drill hole TM-16-159 are significant as high grade gold mineralization (14.82 g/t Au over 7.9 m, 12.92 g/t Au when cap at 34.3 g/t Au, downhole width, 300m vertical) continue to be reported from lateral drilling. Hole TM-16-159 extends a portion of the C2 structure approximately 30m to the east.
As illustrated in the longitudinal sections for C2 (see link below), results from numerous intercepts in these structures are still pending.
https://www.integragold.com/i/maps/LS_C2-DDH_20160809_with_class.pdf
Additional High-Grade Mineralization identified between C-Type Structures
In addition to the mineralization identified in the primary C and C-Flat structures, high grade gold bearing intercepts continue to be identified between the well-defined C-Type structures, demonstrating the possibility for additional mineralized structures to occur in between the major structures. These mineralized zones represent additional potential resource upside which will be fully evaluated during resource estimation and through close spaced underground drilling once underground access is granted.
Some the significant results include (all results uncapped):
- 113.89 g/t Au over 0.5m (TM-15-064W01M02)
- 82.95 g/t Au over 0.5m (TM-16-101)
- 22.05 g/t Au over 1.1m and 172.34 g/t Au over 0.5m (TM-16-103AM01)
- 26.76 g/t Au over 0.6m (TM-16-153B M01)
Lamaque Project Exploration Program Summary
In 2016 a total of 82,000m have thus far been completed at Lamaque South; drilling is ongoing with 4 drill rigs currently in operation. The results announced today are from 23 drill holes representing 14,370m. As of August 10, 2016 drill results are still pending from an additional 137 drill holes at Lamaque representing 51,772m; for Triangle alone there are pending results for 121 drill holes representing 44,370m. Results will continue to be disclosed regularly as they become available.
Triangle Deposit Summary
Triangle consists of a series of high-grade, parallel, steeply to moderately dipping mineralized shear zones (“C” structures) structurally spaced at 125 to 150m intervals, hosting gold-bearing quartz-carbonates-tourmaline veins, which contains the majority of the deposit’s gold resources. The C1 and C2 structures occur from surface to 300 and 475m vertical respectively, the C4, C5, C6 structures occur between 320m and 875m vertically, and the recently identified C7 structure is presently known to extend from at least 975m to 1,150m vertically. The lateral and down-dip limits of mineralization for the deeper C structures (C5, C6 and C7) has yet to be identified and are open for expansion.
Drilling conducted since August 2015 at Triangle has focused on infill and step-out/extensional drilling within select areas of the C1, C2, C4, C5 and C6 structures, and on deep testing of Triangle below 1,000m vertically. Characteristic geological host units, structural deformation in the form of shearing and alteration assemblages associated with gold bearing veins are present within the structures observed to date in most drill holes at Triangle. Ongoing results continue to demonstrate the validity of the predictive nature of the geological model and associated high grade gold bearing vein structures.
Project and Company Profile
Integra Gold is a junior gold exploration company advancing projects in Val-d’Or, Québec, one of the top mining jurisdictions in the world. The Company’s primary focus is its high-grade Lamaque South project. In 2014, Integra completed the accretive acquisition of the Sigma Mill and Mine Complex, a fully permitted 2,200 ton per day mill and tailings facility. With major federal and provincial permits in place, existing infrastructure and exploration potential, this acquisition removed major costs and shortened timelines typically associated with mine projects. With a current market capitalization of approximately $450 million, Integra has raised over $100 million since 2013, at successively higher share prices. Integra was recently named to the TSX Venture top 50 performers in 2015 and the OTCQX Best 50 award for 2015.
Qualified Person
The Lamaque project is under the direct supervision of Hervé Thiboutot, Eng., Senior Vice-President of the Company, and Jacques Simoneau, P. Geo., Exploration Manager of the Company. Mr. Thiboutot and Mr. Simoneau are Qualified Persons (“QPs”) as defined by the National Instrument 43-101. The Company’s QPs have reviewed the technical content of this release.
Quality Assurance – Quality Control (“QA/QC”)
Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all drill holes. The core samples are submitted directly to the Bourlamaque and ALS Laboratories in Val-d’Or for preparation and analysis. Analysis is conducted on 1 assay-ton aliquots. Analysis of Au is performed using fire assay method with atomic absorption (AA) finish, with a gravimetric finish completed for samples exceeding 5 g/t Au. Results published are from the gravimetric finish if above 5 g/t and from the AA finish if lower than 5 g/t.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong
CEO & President
Follow Integra Gold On:
- Twitter: https://twitter.com/integragoldcorp
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking statements, including timing of completion of an updated resource estimate, timing of completion of an updated PEA and completion of the Sigma-Lamaque transaction. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results are consistent with management’s expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Corporate Inquiries:
Chris Gordon
chris@integragold.com
Or visit the company website: www.integragold.com
Integra Gold Commences Drilling at Lamaque Deep Target
- Targets generated as a result of exhaustive compilation work, complimented by the Gold Rush Challenge, of all mining and exploration data comprising more than 75 years of mining history from its Sigma/Lamaque Mine and Mill acquisition.
- “Lamaque Deep” is the most obvious untested gold target in proximity to the Sigma/Lamaque Mines, and corresponds to the depth intersection of the Lamaque Mine Main Plug (historic production of more than 4.5 million ounces) and the Sigma Mine gold mineralized shear veins structures (historical production of 4.5 million ounces).
- The Lamaque Mine was Québec’s largest gold mining operation from 1955 to 1985 and was host to one of the highest “ounce-per-vertical-meter” gold mines (~4,000 ounces/m) in the Abitibi Greenstone Belt.
- The Sigma and Lamaque mines, separated by only 500 m, share the same lithological and structural mineralization controls; the Sigma Mine was in production from surface to a depth of 1,850 meters (“m”) and the Lamaque Mine produced from surface to a depth of 1,100m.
- The Lamaque Deep target is being tested by one master pilot hole forming the basis to originate multiple secondary wedged off-set holes at various depth intervals; drill program designed to fully test the intersecting gold bearing geometries between the Sigma and Lamaque deposits and the depth extension of the Lamaque Main Plug.
- Integra Gold is hosting the First Annual Fête d’Éte today, August 3rd 2016, in Val-d’Or, Quebec. The Fête d’Éte is a community celebration where members of the financial community who have supported the Company and members of the local population can spend time with Integra management and local employees to learn more about the project and the Company’s plan for the future. Follow Integra Gold on Facebook and Twitter, and join the Company for a Facebook Live Q&A with CEO Stephen de Jong and Executive Chairman, George Salamis Wednesday August 3rd, at 3:30pm EST.
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF) (“Integra” or the “Company”) is pleased to announce the initiation of a 2,000m pilot hole on its Lamaque Deep target, situated on the Lamaque Gold Project (“Lamaque”) located in Val-d’Or, Québec. Once the pilot hole has been completed (est. completion Q4 2016) 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.
“We have been looking forward to drill testing this target ever since we took ownership of the ground and historic records as part of our mill acquisition in October of 2014. 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, represents one of the most exciting drill targets in our exploration program today. For almost 50 years these two mines, less than 500m from one another, were operated by two major company owners, Placer Dome and Teck, who cumulatively produced over 9 million ounce of gold. Over the history of these two deposits, the respective mine management groups were of the view that both gold deposits were related, but could not test this target due to the ownership structure.”
Lamaque Deep Exploration Target Concept and Parameters
In 2015, following the acquisition of the Sigma/Lamaque Mine and Mill complex immediately adjacent to its Lamaque South project, Integra commissioned the services of several industry experts to consolidate, validate and evaluate the historic digital data from the two past producing mines, amounting to 6 terabytes in size. This compilation was used to define potential geometric extensions of the Lamaque Main Plug intrusive which hosted over 85% of the 4.5 million ounces of gold produced at the Lamaque Mine over a 50 year period. The depth extension of the Main Plug, with targeting further refined by the Company’s in-house knowledge together with information from this year’s Gold Rush Challenge submissions, will now be tested by first drilling a master pilot hole 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. These mines each produced more than 4.5 million ounces of gold respectively; however, the Sigma Mine reached a vertical depth over 700m deeper than Lamaque. The Lamaque Mine ceased operations in 1985 due to falling commodity prices, labor unrest, and development limitations due to insufficient infrastructure; the mine was 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 Lamaque Mine was the largest gold producer in Québec over a 30 year period, from 1955 until its closure in 1985. 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. Though this limited drilling was not performed at optimal orientations due to its location and limited access, it intersected significant widths of gold mineralization. Follow-up exploration and development was never completed due to financial restraints the company was facing at the time. 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.
A summary of some of the historical drill intercepts that have identified extensions of mineralization below the Lamaque Main Plug, representing an extremely limited amount of historic drilling within a large volume of rock, in the down-dip direction and up to 500m away from known past mining activity, are listed below:
Summary of 1997 Historic Drill Results
Drill Holes | From (ft) | To (ft) | Total Length (ft) | Total Length (m) | Au (g/t) | |
17112 | 1612.0 | 1651.8 | 39.8 | 12.13 | 6.94 | |
Including | 1623.8 | 1637.9 | 14.1 | 4.30 | 16.44 | |
17383 | 373.8 | 462.6 | 88.8 | 27.07 | 2.72 | |
Including | 373.8 | 400.0 | 26.2 | 7.99 | 4.96 | |
Including | 446.2 | 455.0 | 8.8 | 2.68 | 6.66 | |
17384 | 71.0 | 97.0 | 26.0 | 7.92 | 1.15 | |
17431 | 432.2 | 736.1 | 303.9 | 92.63 | 1.36 | |
Including | 440.6 | 500.0 | 59.4 | 18.11 | 2.74 | |
which includes | 452.0 | 485.2 | 33.2 | 10.12 | 3.66 | |
17911 | 20.5 | 23.5 | 3.0 | 0.91 | 4.51 | |
17912 | 116.5 | 126.6 | 10.1 | 3.08 | 4.18 |
*Drill hole data and assay results from historic Sigma Mine database (McWatters period); no minimum thickness; intervals selection strictly by gold grade with no cut-off applied; QA/QC procedures and processes have not been audited by Integra.
To view pictures of selected drill core from the McWatters 1997 drill program please click on the following link:
https://www.integragold.com/i/pdf/2016-06-02-fig2.pdf
To view idealized representations of the 3-D model (historic infrastructures, Lamaque Main Plug, mineralized high angle structures) and projection of the proposed pilot hole, please click on the following link:
https://www.integragold.com/i/pdf/2016-08-03-nrm-icg-XdS8us.pdf
On-line Lamaque Deep Presentation
An on-line presentation of the Lamaque Deep concept was prepared in June of 2015.. The presentation highlights the initial findings of the compilation work, and is presented by Hervé Thiboutot, Senior VP of Integra Gold. Also included is a summary of the “proof-of-concept” material which led to the delineation of the exploration target area associated with Lamaque Deep. The presentation can be found by clicking on the following link:
https://www.integragold.com/i/pdf/2016-06-02-fig1.pdf
Project and Company Profile
Integra Gold is a junior gold exploration company exploring advanced stage projects in Val-d’Or, Québec, one of the top mining jurisdictions in the world. The Company’s primary focus is its high-grade Lamaque South project. In 2014, Integra completed the accretive acquisition of the Sigma Mill and Mine Complex, a fully permitted 2,200-2,400 ton per day mill and tailings facility. With major federal and provincial permits in place, existing infrastructure and significant exploration potential, this acquisition removed major costs and shortened timelines typically associated with developing mine projects. With a current market capitalization of approximately $400 million, Integra has raised over $100 million since 2013, at successively higher share prices, despite depressed gold prices. In August 2015, Eldorado Gold Corporation completed a strategic investment in Integra, acquiring 15% of the outstanding common shares. Integra was recently named to the TSX Venture top 50 performers in 2015 and the OTCQX Best 50 award for 2015.
Qualified Person
The Lamaque project is under the direct supervision of Hervé Thiboutot, Eng., Senior Vice-President of the Company, and Jacques Simoneau, P. Geo., Exploration Manager of the Company. Mr. Thiboutot and Mr. Simoneau are Qualified Persons (“QPs”) as defined by the National Instrument 43-101. The Company’s QPs have reviewed the technical content of this release.
Quality Assurance — Quality Control (“QA/QC”)
Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all drill holes. The core samples are submitted directly to the Bourlamaque and ALS-Chemex laboratories in Val-d’Or for preparation and analysis. Analysis is conducted on 1 assay-ton aliquots. Analysis of Au is performed using fire assay method with atomic absorption (AA) finish, with a gravimetric finish completed for samples exceeding 5 g/t Au. Results published are from the gravimetric finish assay if above 5 g/t and from the AA finish assay if lower than 5 g/t.
ON BEHALF OF THE BOARD OF DIRECTORS,
Stephen de Jong
CEO & President
Follow Integra Gold On:
- Twitter: https://twitter.com/integragoldcorp
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results are consistent with management’s expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Corporate Inquiries:
Chris Gordon:
chris@integragold.com
Or visit the company website: www.integragold.com
Integra Gold Announces Final Results From No. 4 Plug Deposit Winter Drill Program Including 12.58 g/t Gold Over 21.4 Metres, 7.37 g/t Gold Over 14.4 Metres and 7.22 g/t Gold Over 14.3 Metres (All Intervals Uncapped), Commences Resource Estimation Work
Press Release Highlights:
- Other significant results include: 2.83 g/t gold (“Au”) over 19.7 metres (“m”), 2.45 g/t Au (1.70 g/t capped) over 25.8 m, 2.94 g/t Au (2.67 g/t capped) over 13.8 m, 13.03 g/t Au (12.50 g/t capped) over 3.1 m, and 4.56 g/t Au (2.94 g/t capped) over 20.9 m (see assay table for details)
- Results announced today are from 3,912 m in 6 holes of the 12,035 m program completed in 2015/16 at No. 4 Plug Deposit
- 4 drill rigs active on the Lamaque South Gold Project, approximately 58,215 m in assay results pending
- Updated estimate at No. 4 Plug now underway
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF), (“Integra” or the “Company”) is pleased to announce the final tranche of assay results from its 2015/2016 infill drill program on the No. 4 Plug Deposit (“No. 4 Plug”) situated at the Lamaque South Gold Project (“Lamaque”) located in Val-d’Or, Québec.
“With all drill results from the No. 4 Plug Deposit exploration program in-hand, we are on track to update the resource estimate for this deposit by the end of 2016,” commented Company President and CEO, Stephen de Jong. “The updated resource estimate will be followed by a series of trade-off studies to fully understand and assess the benefits of a bulk mining approach compared to the narrow vein mining methods currently being contemplated for other areas of the Lamaque Project.”
Drill Results Continue to Show Potential for Bulk Mineable Resource
Infill drill holes disclosed today are located on the eastern side of the No. 4 Plug along a 75 m long east-west trend demonstrating lateral continuity of the gold mineralized vein clusters. The table below highlights selected results from this final tranche of the No. 4 Plug drilling program. The summary results are presented uncapped and, when applicable, with high grade values capped at 34.3 g/t Au (results are also available with high grade values capped at 20.0 g/t Au in the full assay table available at the link below).
As the gold distribution in the thick clusters of brittle, shallow-dipping tension veins has the tendency to portray a higher nugget effect relative to the high-angle C-type structures identified at the Triangle Deposit (“Triangle”), the selection of disclosed intervals is partially controlled by the visual occurrence of veins and the amount of pyrite in drill core along with grade distribution, providing a further layer of control for the spatial constraining of these thick vein clusters. The reported intervals are clearly identifiable visually in terms of vein densities present in drill core.
Click on the following links to view drill core photos from selected wide intercepts announced today (P4-15-029):
Photo 1: https://www.integragold.com/i/misc/extension-veins-2016-07.jpg
Photo 2: https://www.integragold.com/i/misc/shear-extension-veins-2016-07.jpg
Drill Hole Number | From (m) | To (m) | Interval (m)(1) | Gold Assay (g/t)(2) | ||||
472.12 | 491.80 | 19.68 | 2.83 | |||||
P4-15-024 | 658.80 | 683.00 | 24.20 | 1.59 | ||||
783.00 | 808.00 | 25.00 | 1.29 | |||||
239.35 | 265.10 | 25.75 | 2.45 | |||||
Cap 34.3 | 1.70 | |||||||
Including | 0.70 | 61.70 | ||||||
300.00 | 315.40 | 15.40 | 1.65 | |||||
Cap 34.3 | 1.65 | |||||||
331.80 | 346.15 | 14.35 | 7.37 | |||||
Cap 34.3 | 3.30 | |||||||
Including | 0.60 | 131.68 | ||||||
P4-15-029 | 398.70 | 412.50 | 13.80 | 2.94 | ||||
Cap 34.3 | 2.67 | |||||||
Including | 0.50 | 41.80 | ||||||
448.65 | 470.00 | 21.35 | 12.58 | |||||
Cap 34.3 | 5.05 | |||||||
Including | 2.00 | 114.68 | ||||||
489.30 | 524.00 | 34.70 | 1.96 | |||||
570.05 | 573.10 | 3.05 | 13.03 | |||||
Cap 34.3 | 12.50 | |||||||
335.80 | 362.00 | 26.20 | 1.23 | |||||
388.00 | 402.00 | 14.00 | 1.76 | |||||
410.00 | 416.00 | 6.00 | 5.47 | |||||
473.85 | 494.70 | 20.85 | 4.56 | |||||
P4-15-031 | Cap 34.3 | 2.94 | ||||||
Include | 0.70 | 82.55 | ||||||
549.40 | 563.65 | 14.25 | 7.22 | |||||
Cap 34.3 | 4.78 | |||||||
Include | 0.80 | 77.76 | ||||||
(1) | Down-hole thickness; true width varies depending on drill hole dip and on general orientation of the vein clusters; most 2015-2016 drill holes were aimed at intersecting the generally flat lying vein clusters close to perpendicular therefore true width are close to down-hole width. | |
(2) | Minimum 1 g/t Au cut off over 5-10 m interval, allowing up to 5 m of below cut off material internally – individual assays cut to 34.3 g/t gold when applicable; no minimum thickness considered. | |
Links to No. 4 Plug Assay Table, Section and Location Map
Click on the following link to view a complete table of available composited results for the 2015/2016 drilling at No. 4 Plug (results disclosed today are identified in red colored font):
https://www.integragold.com/i/pdf/Composites-2016-07.pdf
Click on the following links to view idealized and schematic composite sections showing the spatial relationship between the Triangle and No. 4 Plug and illustrating selected results.
https://www.integragold.com/i/pdf/No4-photos-2016-07.pdf
https://www.integragold.com/i/pdf/tap4-ngqk8k-2016-07.pdf
Click on the following link to view a location map of the different gold deposits present at Lamaque South:
https://www.integragold.com/i/pdf/Zones_Loc_Infrastructure_Targets_2015-03.pdf
No. 4 Plug Next Steps
The Company intends to complete a new resource estimate on No. 4 Plug to be completed in H2 2016. Given the ample milling capacity and scalability of the Sigma Mill Complex (2,400 tons per day (“tpd”), expandable to 5,000 tpd), the Company believes that a combined scenario of selective high-grade mining at Triangle, in parallel with low-cost bulk-mining at No. 4 Plug situated 500 m north of Triangle, has the potential to ramp up production profiles beyond previous estimates.
Geological Setting at the No. 4 Plug
The No. 4 Plug is a sub-vertical dioritic/gabbroic intrusive, of similar shape to the Lamaque Mine Plug (located 2 kilometres (“km”) to the northwest), which produced over 4.5 million gold ounces from surface to a depth of 1,100 m vertical. The No. 4 Plug intrusive is located 500 m north of Triangle and can be traced on surface for 200 m east-west by 150 m north-south, extending to a depth of over 1,000 m vertical. Gold mineralization is found within the intrusion hosted by quartz-carbonates-tourmaline shear veins associated with sub-vertical shear zones (similar to Triangle C-type structures) and flat lying quartz-carbonate-tourmaline veins that are present as dense vein clusters.
Interpretation of the reported gold bearing zones at No. 4 Plug indicate that these dense vein clusters can be tens of metres thick vertically, are geometrically stacked within the intrusion in the down-dip direction, and can also extend roughly 75 m to a maximum of 200 m laterally. The mineralized vein clusters are more abundant below a vertical depth of approximately 200 m, and are confined to the intrusion. The intrusive host and the vein clusters remain open at depth. The mineralogy and alteration assemblages associated with these vein clusters consist of carbonate, sericite, albite alteration, with varying intensity and distribution, being more pronounced near the high-angle shear zones. Where these sub-vertical shear zones cross-cut the intrusion, brittle and shallower dipping tension veins are more prominent.
The large gold bearing vein clusters have striking similarities to bulk zones mined historically at the Lamaque Mine, where historical records have recorded mining in panels in excess of 50 m wide. The style of mineralization at No. 4 Plug also resembles the nearby Agnico-Eagle Goldex Deposit, situated just west of Val-d’Or.
2016 Exploration Drilling Summary
To date in 2016 a total of 77,246 m in 138 holes have been completed at the Lamaque South project. Results announced today are from 6 holes drilled at No. 4 Plug representing the final 3,912 m of the 12,035 m program completed in that area. Including the fall 2015 drilling, as of July 10, drill results are still pending for approximately 58,215 m of core from Triangle and other exploration targets. Results will continue to be disclosed as they become available.
The Company anticipates drilling between 110,000 and 120,000 m in 2016 with the majority of this drilling aimed at defining and expanding the gold resource at Triangle and No. 4 Plug. The Company expects to continue drilling to year end with 4 drill rigs in operation. The ongoing drill program includes exploration, extensional, and definition type drilling on key targets such as Triangle and possibly the No. 4 Plug gold deposits. The program will also include exploration drilling, to be initiated in August 2016, of promising new targets generated by the Company’s Gold Rush Challenge.
Project and Company Profile
Integra Gold is a junior gold exploration company exploring advanced stage projects in Val-d’Or, Québec, one of the top mining jurisdictions in the world. The Company’s primary focus is its high-grade Lamaque South project. In 2014, Integra completed the accretive acquisition of the Sigma Mill and Mine Complex, a fully permitted 2,200-2,400 ton per day mill and tailings facility. With major federal and provincial permits in place, existing infrastructure and significant exploration potential, this acquisition removed major costs and shortened timelines typically associated with developing mine projects. With a current market capitalization of approximately $350 million, Integra has raised over $100 million since 2013, at successively higher share prices, despite depressed gold prices. In August 2015, Eldorado Gold Corporation completed a strategic investment in Integra, acquiring 15% of the outstanding common shares. Integra was recently named to the TSX Venture top 50 performers in 2015 and the OTCQX Best 50 award for 2015.
Qualified Person
The Lamaque project is under the direct supervision of Hervé Thiboutot, Eng., Senior Vice-President of the Company, and Jacques Simoneau, P. Geo., Exploration Manager of the Company. Mr. Thiboutot and Mr. Simoneau are Qualified Persons (“QPs”) as defined by the National Instrument 43-101. The Company’s QPs have reviewed the technical content of this release.
Quality Assurance – Quality Control (“QA/QC”)
Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all drill holes. The core samples are submitted directly to the Bourlamaque and ALS-Chemex laboratories in Val-d’Or for preparation and analysis. Analysis is conducted on 1 assay-ton aliquots. Analysis of Au is performed using fire assay method with atomic absorption (AA) finish, with a gravimetric finish completed for samples exceeding 5 g/t Au. Results published are from the gravimetric finish assay if above 5 g/t and from the AA finish assay if lower than 5 g/t.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong
CEO & President
Follow Integra Gold On:
- Twitter: https://twitter.com/integragoldcorp
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking statements, including timing of completion of an updated resource estimate, timing of completion of an updated PEA and completion of the Sigma-Lamaque transaction. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company’s current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results are consistent with management’s expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Chris Gordon:
chris@integragold.com
Or visit the company website: www.integragold.com
Stage Two Gold Proceeds Exceed $18 Million. Highest Price Achieved is $3,727 per Ounce.
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce the second gold milling campaign for 2024 from the Jeffreys Find Gold Mine (the Project) has produced further cash with gold selling at the Perth Mint for an average of A$3,667 per ounce. A total of 4,973 ounces have been sold.
HIGHLIGHTS
- Gold sales for 2024 exceed $18.23 Million.
- Current campaign gold sales reach $13.77 Million.
- Highest gold price achieved is A$3,727 per ounce.
- 154,000 tonnes delivered to the Mill, haulage continuing.
- Current campaign to conclude on 4 September 2024.
- First cash of $3.0 Million to be received by Auric shortly.
Managing Director, Mark English, said: “Gold has sold at up to $3,727 per ounce during August with more to come.
“BML have delivered in excess of 154,000 tonnes to the Coolgardie mill with haulage and milling continuing. Some of that ore will be processed in another campaign later in the year. The current campaign is continuing to produce thousands of ounces of gold.
“Already we have passed $13.77 Million in gold sales for this current campaign of the year and total gold sales for 2024 passing $18.23 Million. We are in the middle of a highly successful time for the Company.
“By the middle of September, Jeffreys Find Gold Mine is expected to generate in excess of $25 Million in gross gold sales for 2024. This current campaign is due to finish in early September. Unforeseen power outages and some inclement weather have slowed the whole process down, but we are hopeful more than 130,000 tonnes of the 150,000 tonne allocation at the Mill will get utilised in this campaign.
“A further campaign is planned at the Greenfields Mill towards the end of this year.
“The mill contract is to process 300,000 tonnes in 2024 so everyone is focussed on making that happen,” said Mr English.
Photo: Jeffreys Find doré bars at Greenfields Mill.
The Greenfields Mill (Greenfields or Mill) is contracted to process up to 150,000 tonnes of ore for the current campaign through Auric’s Joint Venture partner, BML Ventures Pty Ltd of Kalgoorlie (BML). As of 25 August 2024, just over 110,000 tonnes have been processed by the Mill.
Click here for the full ASX Release
This article includes content from Auric Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
IMARC 2024: Here’s What You Need to Know
Australia’s largest mining event, the International Mining and Resources Conference (IMARC), is back in 2024 for another series of technical talks, panel discussions and keynote presentations from industry leaders.
Now in its 11th year, the conference is happening from October 29 to 31, and will take place at ICC Sydney. This edition will focus on the mining sector’s net-zero goals and the efforts companies are making to achieve them.
Mining industry veterans and newcomers are welcome. As in previous years, participants will get the chance to meet and mingle, brainstorm and share knowledge with potential collaborators throughout the conference.
IMARC programming to focus on net-zero theme
Nine concurrent conferences are happening at IMARC this year, with over 370 technical talks, panel discussions and strategic keynote presentations scheduled to take place at the three day event.
Over 9,000 attendees from more than 120 countries are expected to attend, with almost half being C-level and executives. More than 500 companies will be exhibiting on the conference’s 20,000 square metre show floor.
In excess of 600 mining leaders and resource experts will be presenting on stage during this year's edition of IMARC, with speakers including Rashpal Singh Bhatti of BHP (ASX:BHP,LSE:BHP,NYSE:BHP), Dino Otranto of Fortescue (ASX:FMG,OTCQX:FSUMF) and Bradley Milne of Pilbara Minerals (ASX:PLS,OTC Pink:PILBF).
Government representatives involved in the global mining sector, such as Madeleine King, Australia’s minister for mining and resources, the Queensland Resources Council’s Janette Hewson and Suina Chahuán Kim, Brazil’s vice minister of mining, will also be participating in discussions at IMARC.
IMARC's theme this year, "Accelerating the Critical and Responsible Pathway to Net Zero," will cover various aspects of the mining value chain. Discussions will be narrowed down into seven more specific themes, namely:
- Fast-tracking the critical minerals value chain
- Operationalising the energy transition through innovation and collaboration
- Responsible mining initiatives that contribute to shared prosperity
- Leveraging technology and innovation to achieve productivity and operational excellence
- Accessing capital for project development, innovation and commercialisation
- Speeding up the project lifecycle to develop the mines of the future quicker
- Opportunities for global trade and investment
What’s new at IMARC this year?
IMARC is highlighting five additional features that are new this year for attendees.
Among these new features are two conferences — namely the inaugural Mining, Metals and the Circular Economy conference and the AROSE Mining & Space conference. They will respectively revolve around the circular economy’s role, impact and benefits for mining, and the capabilities and collaborations between mining and space.
NextGen programs will be also be available for skills training. These were created to engage young leaders and students, and provide them with a glimpse of the workforce. They are also geared at facilitating career pathways.
As for those who wish to have in-depth discussions, intimate two hour sessions are available at executive briefings. These encourage leaders and policymakers to review matters that are set to influence the industry.
Lastly, a Share and Win program was designed to keep the event exciting. Participants who promote their presence at IMARC using an automated LinkedIn post will automatically be entered to win an iPad Pro at the event.
Register for IMARC now
Don’t miss the chance to attend Australia’s biggest mining conference this year. Online pre-registration is required. Click here to register, and here for the full registration guide, along with pass and sponsorship packages.
Group discounts are also available. The next early bird offer ends on September 13. You can also follow IMARC on Facebook, Instagram and LinkedIn to stay up to date on news surrounding the conference.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Western Australia’s DEMIRS Launches New Online System for Environmental Approvals
The Western Australia Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) is launching a new platform for state environmental approvals, the department announced on August 22.
The Resources Online platform will be a single-user portal that will provide better customer experiences and improve business processes when lodging environment applications under the Mining Act 1978 and state petroleum legislation.
“It will ultimately replace the current Environmental Assessment and Regulatory System,” DEMIRS said, adding that the portal is a key deliverable under the department’s Fast-tracking Mining Approvals program, which “aims to significantly expand and improve the digital capability of mining and petroleum environmental lodgements.”
Targeting improved assessment timeframes and efficiency, the department said it has been working closely with stakeholders to ensure that the new product meets the mining sector's needs.
An industry-wide survey was opened on February 28 to gather insights that were then used to inform the design and department processes around the system. Responses were collected until March 15.
An industry working group consisting of participants from across the resource sector was also established to ensure that a variety of requirements and perspectives were addressed.
“Our goal was to ensure applications are submitted and assessed as efficiently as possible, so it was essential we worked closely with industry,” said Tyler Sujdovic, DEMIRS' executive director, resource and environmental compliance.
“The feedback we have been receiving from the working group has been encouraging,” he continued. “It tells us we are on the right track, and we are looking forward to welcoming the group back to test the system before going live.”
Resources Online is expected to launch at the end of September. DEMIRS said it is following a phased implementation approach, and the first release will be for Programme of Works applications.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Allup Appoints IHC Mining Consultants for McLaren PFS
Allup Silica Limited (ASX: APS) (“Allup” or “Company”) is pleased to announce it has appointed IHC Mining (IHC) to undertake a Pre- Feasibility Study( PFS) for the McLaren Mineral Sands Project in Western Australia.
Allup announced its acquisition of the advanced-stage McLaren Project earlier this month, which has an Indicated and Inferred JORC (2012) resource of 280Mt at 4.8% Heavy Mineral1 near surface. Allup is examining its potential to produce ilmenite, a key titanium mineral, which currently trades at more than US$300/t due to increasing titanium shortages. Strong ilmenite market demand expected to continue due to supply deficits and mine closures in Africa.
Whilst process optimisation of the McLaren plant will continue following the completion of test work, flow sheet development and basic engineering have already commenced. At this conceptual stage, the Company’s PFS is progressing with a focus on a medium sized, 10Mtpa spiral concentration plant, which could produce up to 400,000tpa of ilmenite in concentrate annually.
IHC has significant expertise in the design, engineering and construction of mineral sands processing plants, and has a significant laboratory, mineral processing and engineering group based in Queensland.
Its design optimisation work at McLaren will continue through the engineering and design stages.
Allup aims to deliver the PFS in Q2 2025, before moving into the Bankable Feasibility design phase.
About IHC Mining
IHC Mining, a division of Royal IHC, has more than a century of experience, providing geo-metallurgical consultancy, equipment design, and construction, aiming to enhance operational efficiency and sustainability. Its expertise covers various commodities, including mineral sands, gold, and battery minerals, with a strong emphasis on decarbonisation, tailings management, and digitalisation.Click here for the full ASX Release
This article includes content from Allup Silica Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Large Copper - Antimony System at Bulla Park
West Cobar’s (ASX:WC1) 100%-owned Bulla Park Copper Project 110km west of Cobar in New South Wales, contains a large copper – antimony system as indicated by previous drill intersections.
Highlights
- Previous diamond drilling shows broad intervals of disseminated copper - antimony mineralisation
- Previous intercepts have contained significant sulphidic copper and antimony mineralisation, such as:
- 89m at 0.30% Cu and 0.10% Sb, including 33m at 0.47% Cu and 0.15% Sb (19CA002, 176m to 265m)
- Copper grades up to 1.46% Cu (19CA002, 246m to 247m)*
- Antimony grades up to 0.5% Sb (19CA002, 246m to 247m)*
- Copper and antimony grades increase towards a broad zone of faulting targeted by recently drilled diamond hole BPD09 (assays awaited)
Mineralisation is dominantly tetrahedrite (copper - antimony sulphide) and minor chalcopyrite and stibnite (antimony sulphide). Antimony grades in previously assayed drill hole intercepts are approximately 30% to 35% of the copper grade, reflecting the theoretical composition of tetrahedrite (Cu12Sb4S13).
Recently drilled BPD09 (see ASX release of 13 August 2024) was designed to test an interpreted fault zone where higher copper – antimony grades were anticipated. The hole successfully intersected a broad zone from 120m to 338m (218m) of faulting, fracturing, disseminated copper- antimony sulphides, siderite alteration, veining and stockworks, and tectonic and hydrothermal breccias. The core samples from BPD09 are currently in a laboratory undergoing preparation. Assay results are expected to be received during September.
* See Appendix 1 for complete Cu and Sb assays for drill hole 19CA002
Antimony grades at Bulla Park follow the copper distribution. High grades of copper are found with better antimony grades. Apart from the dominant antimony mineral tetrahedrite, stibnite occurs as radiating needles in fractures and makes up about 10% of the antimony content.
Further drilling is planned to extend the major fault zone containing broad intervals of disseminated copper-antimony mineralisation.
Antimony
Antimony (Sb) is a designated critical mineral in many countries and is used in military applications, solar cells, fire retardants and as a strengthening agent in alloy production.
China supplies 56% of the global antimony production and has decided to restrict exports of antimony from 15 September 2024, claiming that its strategic reserves are too low to allow further exports. This has caused the price of antimony to increase significantly to approximately US$23,000/t as USA and European users seek to secure supply. (source: www.reuters.com)
Previous Results at Bulla Park
A characteristic of the Bulla Park deposit is consistency of copper and antimony grades over wide intervals (historical drilling intersected stratabound zones outside of the fault zone, where better grades are anticipated).
Table 1: Summary of historical assay results of copper-antimony mineralisationResults reported using 0.2%Cu cut-off
In previous drilling, both the copper and the antimony grades increase towards the newly intersected fault zone recently targeted by BPD09 (assays awaited). The nearest previously drilled historical hole to the fault zone is 19CA002, which includes 7m of 0.27%Sb and 0.71% Cu from 245m.*
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This article includes content from West Cobar Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
More Sulphides in Step Out Holes at Bald Hill Cobalt-Copper Prospect
Rimfire Pacific Mining (ASX: RIM, “Rimfire” or “the Company”) is pleased to advise that the first two diamond drill holes completed as part of a larger 6 hole (~1,000 metre) step out drilling program at the Bald Hill Cobalt Copper Prospect, have successfully intersected multiple broad zones (downhole widths) of sulphide mineralisation 100 – 200m away from previous high-grade cobalt drill intercepts.
Highlights
- The first two holes in the current diamond drilling campaign have intersected multiple broad zones (downhole widths) of sulphide mineralisation 100 – 200m away from previous high-grade cobalt drill intercepts;
- FI2612 intersected disseminated and banded sulphides (pyrite) between 70 and 110m, and semi-massive sulphides (pyrrhotite) between 110 and 129m
- FI2613 intersected disseminated and banded sulphides (pyrite) between 67 and 105m, disseminated and fracture – fill sulphides (pyrite) between 105 and 128.5m and brecciated semi – massive sulphides (pyrrhotite) between 151.9 and 185.1m
- The sulphides intersected in the current drillholes are visually similar to the high-grade mineralised intercepts obtained in Rimfire’s previous drilling at Bald Hill with assay results required for confirmation
- First assay results expected within 6 to 8 weeks as the 6-hole diamond drilling program continues
Commenting on the announcement, Rimfire’s Managing Director Mr David Hutton said: “The Bald Hill prospect continues to grow with broad zones of great - looking sulphides intersected in the latest step out holes.
The diamond drilling is helping our geologists build a detailed model for the prospect and we look forward to seeing what the rest of the program delivers.
Drilling, geological logging, and sampling is continuing, with first assays expected in 6 to 8 weeks’ time and Rimfire looks forward to providing further updates as new information comes to hand.”
Figure 1: FI2612 diamond (NQ) drill core from 112.32 to 119.45 metres showing semi- massive sulphides from 112.32 metres to 117.40 metres. The location of Figure 2 is shown by the red square.
Figure 2: Detail of semi massive sulphides around 114.40 metres in FI2612 with location shown in Figure 1 above. Brown sulphides are pyrrhotite and pale-yellow sulphides are pyrite.
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This article includes content from Rimfire Pacific Mining Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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