re: Ann: High-grade Gold to 139 g/t from Salt...
HIGH-GRADE GOLD TO 139 G/T GOLD FROM SALT CREEK DIAMOND DRILLING GRADES UP TO 139g/t Au FROM ONGOING DIAMOND DRILLING. Further high-grade intercepts received from diamond drilling at the Salt Creek gold deposit (Randalls Gold Project): 40.5 metres at 6.48 g/t gold including 4 metres at 12.82 g/t gold, 0.7 metres at 139 g/t gold, and 0.8 metres at 16.07 g/t gold. 15.5 metres at 4.51 g/t gold including 3 metres at 18.41 g/t gold. 38 metres at 2.99 g/t gold including 2 metres at 13.04 g/t gold, and 1 metre at 14.40 g/t gold. Significant visible gold noted from ongoing diamond drilling. Exploration being stepped up at Randalls Project with five rigs currently on site. Integra Mining Limited (ASX: IGR ¨C ¡°Integra¡±) is pleased to report further high-grade gold results from diamond drilling at the Salt Creek gold deposit, part of the Company¡¯s 100%-owned Aldiss-Randalls Gold Project near Kalgoorlie in Western Australia. Three diamond drill holes have been completed on section 25,200mN as part of the current confirmation diamond drilling programme designed to increase confidence in the volumes, grade and structural / lithologic controls on gold mineralisation. An additional objective is to increase the proportion of diamond drilling relative to RC drilling and to ¡®twin¡¯ some previous RC drill holes with diamond drill holes to assess if there is a material difference in widths or grades of intercepts between the two drilling methods. In this regard, hole SKD021 (41 metres at 6.48 g/t gold) was a diamond drill twin of RC drill hole SKRC023 (36 metres at 3.47 g/t gold). This hole displayed approximately 200% more gold on a gram*metre basis compared to the original RC drill hole. Conversely, ¡®scissor¡¯ drill hole SKD019 intercepted 13 metres at 2.24 g/t gold and may have resulted in a minor gold mineralised volume reduction. While Integra¡¯s geological team expects the confirmation drilling to demonstrate both gains and reductions in volume and/or grade on a hole by hole basis, the Company expects the drilling to result in an overall increase in confidence in the resource with no other material change. An intensive review of the geology and structure within the Salt Creek gold deposit undertaken as part of the Feasibility Study has highlighted the potential for high-grade, east dipping, structurally controlled gold mineralisation related to abundant quartz veining, including occasional visible gold and associated alteration. 2 168 Stirling Highway Nedlands Western Australia 6009 ¡ö PO Box 612 Nedlands WA 6909 T 61 (8) 9423 5920 ¡ö F 61 (8) 9423 5930 ¡ö E [email protected] ¡ö W www.integramining.com.au ABN 54 093 278 436 ASX RELEASE 25th May 2009 Near-mine exploration drilling is planned to confirm and trace this high-grade structure into additional lithologies which are considered to be favourable hosts to well-developed gold mineralisation. Within the stratigraphic sequence beneath the Salt Creek differentiated dolerite sill ¨C host to the bulk of currently known gold mineralisation, there is a second differentiated dolerite sill ¨C the ¡®Big Sill¡¯ ¨C and a highly sulphidic inter-flow sedimentary horizon, both of which are considered potential hosts for additional gold mineralisation. Exploration Exploration activities are currently being stepped up within the Randalls Gold Project to evaluate new target areas and test the potential for a significant new discovery in parallel with the ongoing Feasibility Study. Three diamond rigs, one RC rig and one aircore rig are currently on-site and an additional diamond drill rig is contemplated. Diamond drilling is on-going northwest of the Lucky Bay prospect. Feasibility Study As per previous advice to the market, the Randalls Project Feasibility Study remains on target for completion in June / early July. In Summary: Consolidated Mineral Resources at the Aldiss-Randalls Gold Project of 1.8 million ounces at an average grade of 2.8 g/t gold with 72% of resource ounces in the Indicated Resources category (see ASX release 21 July 2008); A significant ¡®grassroots¡¯ gold discovery at Salt Creek located within a new 8 kilometre long gold trend only 60km east of Kalgoorlie; High-grade resources at the adjacent Randalls Project with Maxwells and Cockeyed Bob deposits grading 5.2 g/t and 5.9 g/t gold respectively (see ASX release 21 July 2008); A 100% owned gold processing facility recently dismantled and ready for refurbishment and installation at the Salt Creek site; A Pre-feasibility Study completed displaying robust project returns with an IRR of 41% (see ASX release 14 August 2008) and a Feasibility Study for the Randalls Gold Project is in-progress; Open pit production grade expected to be the highest open pit production grade of any similar scale of development in Australia.
IGR Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held