On March 12th 2009, Integrated Resources Group (IRG) announced that the company had been granted an Exploration Licence (E08/1880) by the Western Australia Department of Industry and Resources over the historic Lyndon Station gold mine in Western Australia.
As stated in that announcement, IRG is now planning to map and surface sample the licence as a first step to testing the potential for a high grade low cost open pittable gold mine.
Accordingly IRG is obtaining quotes for a senior geologist to execute this phase of work. Assay results will be issued to the market when available.
Notably, the 27.36km2 sized Lyndon Tenement has bonanza grade historic gold workings and has never been drilled or explored by modern exploration techniques.
Background: The historic Lyndon Station gold mine is located over a high grade quartz-gold vein system. Previous production (3 stopes and 2 shafts to a depth of 9 m) between 1952 and 1954 was 100t at 3-5oz (124g/t) (source : MINEDEX) and between 1990 and 1991 via an open cut extension to 10m with 29 tons of quartz ore @ 22g/t (source : WAMEX)
Total production from Lyndon Station Mine was 129t @ approx 101g/t Au (419 ounces Au). The Lyndon tenement has been under explored and never drilled.
LCD Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
