Many have expressed disappointment with the RU. It must be remembered however that the drilling conducted on the BIF deposits was more to do with providing real data points in support of expanding to 140KOz and as such only tested to ~400M in depth.
From Feb 2010 release ? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Maxwells Underground Mining Study Integra is also pleased to announce the results of a recently completed desktop study of the underground production potential of the Maxwells gold deposit. The Maxwells gold deposit is one of three BIF hosted gold deposits being evaluated for underground production, the others being the Santa and Cock-eyed Bob gold deposits (Figure 1). The study has confirmed that if the existing Mineral Resources at the Maxwell?s gold deposit persist with depth, there is excellent potential to establish a long life profitable underground mining operation. Integra is confident gold mineralization could extend to several hundred metres depth. Key outcomes of the study include: To 60 metres below the base of the existing open pit, the underground mining study captured 120,000 ounces with over 2,000 ounces per vertical metre at an estimated diluted production grade of 5.5 g/t gold Estimated ?all-in? operating cost of approximately $750 per ounce and a capital cost estimate of $9 million to establish twin decline access For the study area, extending 60 metres below the existing open pit, an estimated return after capital of approximately $40 million or some $700,000 per vertical metre Strong potential for gold mineralization to extend to several hundred metres depth - deepest drilling to date extends to only approximately 150m below surface and remains open at depth with high-grade gold mineralization confirmed to 400 metres at the nearby Santa BIF hosted gold deposit Three diamond drill rigs currently testing the first ?panel? of gold mineralization for potential underground production Very favourable underground mining conditions and geometries
From Sept 2010 release ?
The latest drilling results continue to indicate that high-grade gold mineralisation within the BIF-hosted Santa Trend persist at depth with excellent potential for underground extraction and also persist along strike with excellent potential for additional open pit production. Integra sees no geologic reason why high-grade gold mineralisation at the Cock-Eyed Bob, Santa and Maxwells gold deposits could not persist to one kilometre depth or beyond presenting the Company with outstanding Mineral Resources expansion potential beyond the limits of current drilling ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Hopefully confirmation of the expansion is not too far off.
IGR Price at posting:
55.0¢ Sentiment: LT Buy Disclosure: Held
