salt creek re classified as indicated resource

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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 21st July 2008
75% OF 400,000oz SALT CREEK DEPOSIT
RE-CLASSIFIED AS INDICATED RESOURCES
􀂙 Indicated Resource component increased more than threefold following successful risk-based
statistical analysis of the recently upgraded Salt Creek Mineral Resource, resulting in:
􀂾 Indicated Resources of 3.4Mt at 2.8 g/t gold for 300,000 contained ounces.
􀂾 Inferred Resources of 1.3Mt at 2.6 g/t gold for 100,000 contained ounces.
􀂾 75% of the Salt Creek Mineral Resource now available for conversion to Ore Reserves
subject to normal economic parameters.
􀂾 Modest additional drilling planned to upgrade the Inferred Resource component to
Indicated status.
􀂙 Integra is uniquely placed with:
􀂾 Consolidated Mineral Resources at the Aldiss-Randalls Gold Project of 1.8 million ounces at
2.7 g/t gold (see ASX release 26 June 2008).
􀂾 A significant ¡®grassroots¡¯ gold discovery at Salt Creek, located 60km east of Kalgoorlie.
􀂾 High-grade resources at the adjacent Randalls Project with the Maxwells and Cock-eyed
Bob deposits grading 5.2 g/t and 5.9 g/t gold respectively (see Table 2).
􀂾 A 100% owned gold processing facility recently dismantled and ready for refurbishment
and installation at the Salt Creek site.
􀂾 A pre-feasibility study to be completed near the end of July.
􀂾 An open pit production grade expected to be +3 g/t gold.
Integra Mining Limited (ASX: IGR ¨C ¡°Integra¡±) is pleased to report that statistical simulations of the gold grade
variance for the recently announced mineral resources upgrade for the Salt Creek gold deposit in the Company¡¯s
Aldiss-Randalls Project to 4.6 million tonnes at 2.7 g/t gold for 400,000 contained ounces has resulted in the
re-classification of a significant proportion of the resource to the Indicated Resources category.
The new classification for Salt Creek includes 3.4Mt at 2.8 g/t gold for 300,000 contained ounces as Indicated
Resources available for conversion to Ore Reserves subject to normal economic parameters. This reclassification has
resulted in a more than threefold increase in the Indicated Resources within the Salt Creek gold deposit.
Integra¡¯s total consolidated Mineral Resource at the Aldiss-Randalls Project (including the Salt Creek gold deposit) is
20Mt at 2.7 g/t gold for 1.8 million contained ounces of which some 72% or 1.3 million ounces are now in the
Indicated Resources classification (see Table 2).
The conversion of Indicated and Measured Resources to Ore Reserves is subject to Modifying Factors such as mining
dilution, open pit strip ratio, mining and milling costs, metallurgical recoveries and other economic parameters.
Investors are referred to the JORC Code, especially Clause 28 for further information on Modifying Factors as they
relate to conversion of Mineral Resources to Ore Reserves.
The remaining Inferred Resources at the Salt Creek gold deposit are primarily contained within two ¡®wireframed¡¯
zones of mineralisation at the southern end of the deposit and a modest additional RC drilling programme is being
planned to increase confidence in gold grade variance in these areas with the intention of further re-classification to
Indicated Resources.
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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 21st July 2008
Chart 1: Integra¡¯s Mineral Resources growth.
Table 1: Salt Creek Mineral Resources (July 2008).
Volume
(BCM)
Tonnes
(Millions)
Cut Au_OK
(Au g/t)
Ounces
Indicated 1,209,611 3.3 2.8 300,000
Inferred 451,243 1.3 2.6 100,000
Total 1,660,854 4.6 2.7 400,000
See Table 3 note regarding rounding.
Yours sincerely,
Chris Cairns
Managing Director
Information in this announcement that relates to Exploration Results and Mineral Resources has been reviewed by Chris Cairns,
Managing Director who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and
to the activity which he is undertaking to qualify as a Competent Persons as defined in the 2004 Edition of the ¡°Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves¡±. Chris Cairns is a Member of the Australian Institute of
Geoscientists and consents to the inclusion in the report of the matters based on his information in the form and context in which it
appears.
Information in this announcement that relates to Mineral Resources has been compiled by Peter van Luyt, Project Geologist - Integra
Mining, who has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the
activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ¡°Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves¡±. Peter van Luyt is a Member of the Australian Institute of
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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 21st July 2008
Geoscientists and consents to the inclusion in the report of the matters based on his information in the form and context in which it
appears. All information relating to the Fingals deposit has been compiled by Peter van Luyt, Integra Mining Limited.
The information in this report that relates to Mineral Resources (with the exception of the Fingals deposit) is based on information
compiled by Chris Black and Rick Adams (Members of the Australian Institute of Geoscientists) of Cube Consulting. Rick Adams is
also a Member of The Australasian Institute of Mining and Metallurgy. Chris Black and Rick Adams have sufficient experience which
is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to
qualify as Competent Person(s) as defined in the 2004 Edition of the ¡°Australasian Code for Reporting of Mineral Resources and Ore
Reserves¡±. Chris Black and Rick Adams consent to the inclusion in the report of the matters based on their information in the form
and context in which it appears.
Cube Consulting is an independent Perth based resource consulting firm specialising in geological modelling, resource estimation and
information technology.
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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 21st July 2008
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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 21st July 2008
Table 2: Randalls, Mount Monger and Aldiss Project Areas
Classified Resource Estimates above 1 g/t Gold
Randalls
Maxwells
Volume Tonnes Au g/t Au (oz)
Indicated 560,094 1,608,670 5.41 279,805
Inferred 278,547 798,213 4.89 125,493
Total 838,641 2,406,883 5.24 405,298
Salt Creek
Volume Tonnes Au g/t Au (oz)
Indicated 1,209,611 3,381,638 2.75 298,874
Inferred 451,243 1,250,971 2.61 104,822
Total 1,652,543 4,609,346 2.72 403,566
Santa Area
Volume Tonnes Au g/t Au (oz)
Indicated 675,953 1,947,604 2.42 151,617
Inferred 164,540 473,949 1.99 30,291
Total 840,493 2,421,553 2.34 181,908
Cockeyed Bob
Volume Tonnes Au g/t Au (oz)
Indicated 117,313 350,345 5.56 62,627
Inferred 31,175 93,525 7.20 21,650
Total 148,488 443,870 5.91 84,277
Rumbles
Volume Tonnes Au g/t Au (oz)
Indicated - - - -
Inferred 230,500 645,399 1.37 28,515
Total 230,500 645,399 1.40 28,515
Anomaly A
Volume Tonnes Au g/t Au (oz)
Indicated 50,975 151,076 3.04 14,766
Inferred 2,463 7,388 1.81 430
Total 53,438 158,464 2.98 15,196
Randalls Dam
Volume Tonnes Au g/t Au (oz)
Indicated - - - -
Inferred 45,828 123,473 2.81 11,155
Total 45,828 123,473 2.81 11,155
Total Indicated 2,621,334 7,457,386 3.38 809,258
Total Inferred 1,204,296 3,392,918 2.96 322,356
Randalls Total 3,810,000 10,810,000 3.3 1,130,000
Mount Monger
Fingals
Volume Tonnes Au g/t Au (oz)
Indicated - - - -
Inferred 694,724 2,014,700 2.00 129,548
Total 694,724 2,014,700 2.00 129,548
Mt Monger Total 690,000 2,010,000 2.0 130,000
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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 21st July 2008
Aldiss
Main Zone
Volume Tonnes Au g/t Au (oz)
Indicated 662,784 1,888,370 2.39 145,305
Inferred 9,219 25,538 2.14 1,759
Total 672,003 1,913,908 2.39 147,064
Harrys Hill
Volume Tonnes Au g/t Au (oz)
Indicated 605,251 1,778,495 2.49 142,271
Inferred 19,251 51,976 1.73 2,886
Total 624,502 1,830,471 2.47 145,157
French Kiss
Volume Tonnes Au g/t Au (oz)
Indicated 655,001 1,905,845 1.89 115,528
Inferred 13,095 38,644 2.13 2,648
Total 668,096 1,944,489 1.89 118,176
Spice
Volume Tonnes Au g/t Au (oz)
Indicated - - - -
Inferred 41,391 104,400 4.05 13,598
Total 41,391 104,400 4.05 13,598
Tank/Atriedes
Volume Tonnes Au g/t Au (oz)
Indicated 221,351 622,108 1.85 37,046
Inferred 20,164 60,375 1.94 3,766
Total 241,515 682,483 1.86 40,812
Italia/Argonaut
Volume Tonnes Au g/t Au (oz)
Indicated 164,724 417,853 1.42 19,091
Inferred - - - -
Total 164,724 417,853 1.42 19,091
Rowes Find
Volume Tonnes Au g/t Au (oz)
Indicated - - - -
Inferred 62,846 161,493 3.53 18,328
Total 62,846 161,493 3.53 18,328
Total Indicated 2,310,000 6,610,000 2.20 470,000
Total Inferred 170,000 440,000 3.00 40,000
Aldiss Total 2,480,000 7,060,000 2.2 500,000
Estimate Total
Volume Tonnes Au g/t Au (oz)
Indicated 4,931,334 14,067,386 2.8 1,300,000
Inferred 2,069,020 5,847,618 2.6 490,000
Total 6,980,000 20,000,000 2.7 1,800,000
Table 2 Note: All deposit figures are reported as calculated from their relevant resource block models. Sub-totals, project totals and the Integra
Mining Limited total resource figures are rounded to 2 significant digits as defined by Clause 26 in the 2004 Edition of the ¡°Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves¡±. All sub-totals, project totals and the Integra Mining Limited total resource
figures are calculated from the raw deposit figures then rounded to 2 significant digits. Totals are not calculated from intermediate sub-total which
results in rounding variances which may be observed between the various total figures.