www.integramining.com.au
Integra Mining (ASX: IGR) transitioned from gold explorer to producer in September 2010 after pouring first gold from its flagship Randalls Gold Project.
The company has steadily built up its mineral portfolio through a series of acquisitions, joint ventures and strategic alliances, and now controls a consolidated tenement package of approximately 1,500km2 in the heart of the Eastern Goldfields of Western Australia.
Integra Mining intersects a Majestic best ever 49m at 7.89 g/t gold near surface
Integra Mining (ASX: IGR) has intercepted 49 metres at 7.89 grams per tonne (g/t) gold including 11 metres at 23 g/t gold from reverse circulation (RC) and diamond drilling at the Majestic gold deposit.
The Majestic discovery zone, located 22 kilometres north of the new gold processing facility at Randalls, is a significant gold mineralised system with excellent potential to be a source of open pit material.
Within a broader gold anomalous envelope of 89 metres at 4.55 g/t gold highlights include:
- 49 metres at 7.89 g/t gold from 63 metres depth, including 11 metres at 23 g/t gold.
On an adjacent section to the north within a broader gold anomalous envelope of 105 metres at 1.42 g/t gold, drilling intercepted 48 metres at 2.70 g/t gold from 68 metres depth.
Other significant intercepts include 10 metres at 3.10 g/t gold, 5 metres at 4.51 g/t gold, and 4 metres at 4.86 g/t gold.
Chris Cairns, Integra Managing director, said “it is unusual in the modern gold mining environment, when most miners are pursuing gold at greater depths underground, that Integra continues to discover this quality and grade of mineralisation near surface and with all likelihood of being mined in an open pit.”
These intercepts are from two adjacent 20 metre spaced sections drilled at and beyond the northern extent of the previously announced Inferred Resource of 260,000 ounces at the Majestic gold deposit.
The company said drill hole collars on the sections are widely spaced at 40 metres apart and drill holes up-dip and down-dip display less coherent gold mineralisation.
Integra plans further infill drilling on section and further along strike to the north to properly define the extents of these high-grade zones.
These are believed to be continuous across sections and represent shallowly plunging ‘shoots’ of high-grade gold mineralisation.
The company expects that the resource will be extended, as will the preliminary open pit design, as these zones now extend the known mineralisation further north of the current Mineral Resource limits.
This is another outstanding result for Integra and adds to its impressive track record of achieving all of its publicly stated targets.
Integra has expansion plans to move to 140,000 ounces of production and its miserly $374 million valuation, against a forecast pre-tax operating profit of A$192 million, looks even more undervalued on today's drill results.
