Looks like management have a few results up their sleeve. Very encouraging UG announcement followed by excellent drilling. Whats next? Angers
MAIDEN RC DRILLING AT BATAVIA RETURNS EXCELLENT RESULTS DRILL INTERCEPTS INCLUDING 4 METRES AT 6.50 GPT AND 4 METRES AT 3.68 GPT
Integra Mining Limited (ASX:IGR, Integra) is pleased to announce that wide-spaced first pass RC drilling at the recently identified Batavia prospect in the Aldiss Gold Project has returned excellent results* including:- • 4 metres at 6.50 g/t gold • 4 metres at 3.68 g/t gold • 4 metres at 2.90 g/t gold, and • 4 metres at 2.27 g/t gold
The Batavia prospect is located within the Aldiss Gold Project, some 60 kilometres east of Integra's producing Randalls Gold Project (Figure 1). The Aldiss Gold Project hosts a Mineral Resource / Ore Reserve inventory of nearly 475,000 ounces in several gold deposits (see ASX release 9th July 2012).
Integra is focussing a significant portion of its exploration efforts on the Aldiss Gold Project with the objective that, given the already substantial gold endowment of the project, a relatively modest additional discovery of economic mineralisation could be sufficient to justify the establishment of a stand-alone mining / milling operation.
Gold mineralisation in the recent RC drilling at Batavia is predominantly hosted in the felsic and intermediate rocks which display weak to moderate lica+sericite+leucoxene+chlorite alteration.
The anomalous intervals have elevated pyrite content (up to 5%) and in some cases coincident pyrrhotite.
A follow-up RC drill programme is planned to commence shortly.
Integra Managing Director Chris Cairns said “Integra is very excited to get these excellent results from our first RC drill programme in the Batavia trend with additional results from the Challenger trend pending.
Field reports note wide-spread and intense alteration and sulphides indicating to us the potential for a large scale gold system.”
Wide-spaced reconnaissance aircore drilling completed in mid-2011 defined a greater than one metre at 1 g/t gold anomalism trend over 500 metre within intermediate volcanics and hematite-sericite-silica alteration at Batavia. Previously released aircore drilling results in the immediate vicinity of the recent RC drilling at Batavia included: • 8 metres at 2.11 g/t gold in including 4 metres at 3.37 g/t gold • 3 metres at 1.35 g/t gold • 1 metre at 2.40 g/t gold
During 2010, Integra drilled 1,194 reconnaissance aircore drill holes on very wide-spaced 320 metre lines with 80 metre spaced drill collars and followed-up with an additional 593 aircore drill holes in 2011 in the southern portion of the Aldiss Gold Project.
Reconnaissance aircore drilling was designed to target a 10 kilometre long major shear and fluid conduit active during the major gold event in the region which was identified by a collaborative research project between Integra and the CSIRO to develop gold exploration targets in the Aldiss Gold Project. Nearly 100,000 metres of aircore drilling was completed over the two year reconnaissance phase.
Three gold anomalous trends associated with folded and faulted dolerite intrusive complexes have been defined, referred to as the Admiral (6 kilometres), Batavia (6 kilometres)and Challenger (8 kilometres) trends hosting a large number of discrete anomalous zones (Figure 2).
RC drilling has also been completed in the Challenger trend and assays are pending. * Results are from 4 metre composite samples, 1 metre resampling is in progress.
IGR Price at posting:
30.5¢ Sentiment: Hold Disclosure: Held