Drill results on 17 holes in Integra Gold Corp.'s (ICG:TSX.V; ICGQF:OTCQX) Triangle deposit, which is part of the Lamaque gold project in Val-d'Or, Quebec, were released recently by Integra Gold Corp. Stephen de Jong, president and CEO of Integra, stated that the results "continue to demonstrate internal mineralization continuity and support the resource expansion potential at Triangle. The high-grade results from C2 are especially encouraging as this area will soon be accessible via the exploration ramp and is the target of the underground bulk sample program planned for Q3 2017."
These results have been viewed favorably by M Partners Analyst Stuart McDougall, who wrote on Jan. 11 that Integra released "what we view as more positive drilling results from its Lamaque South gold project in Val-d'Or, Quebec." He noted that "we continue to expect the Triangle resource to be expanded and upgraded in the next updated estimate," planned for Q1/17.
Macquarie Research has designated Integra as a top pick for 2017. In a Jan. 17 report, the firm noted that 2017 "appears to be shaping up to be a transformative year. . .there is significant resource expansion potential with the updated resource at Triangle in 1Q17, with mine life and low capital intensity scalability implications." The updated PEA that is anticipated in Q1/17 "will highlight the mining cost breakdown for a higher percentage of long hole open stoping. The bulk sample in 3Q17 will provide important block model reconciliation data in addition to trial mining data as ICG advances towards a Feasibility and construction decision. "
Macquarie also noted that "on the exploration front, ICG is testing several high priority targets, which have the potential to significantly increase intermediate/senior mining company interest in the project and drive share price performance."
Tara Hassan of Raymond James, in a Jan. 23 initiation of coverage report, noted that " we expect that a continued aggressive exploration approach at Lamaque coupled with a number of key project updates in 2017 (resource update, PEA update, completion of exploration ramp, and underground bulk sample) will confirm the potential for a larger, longer life and more economic operation at Lamaque."
Hassan also noted that 2017 could be pivotal for Integra: "With Triangle now well defined and reaching a critical scale to support a construction decision, Integra is now able to shift some of its exploration focus and dollars to satellite targets and the deep potential at Lamaque. As a result, we expect 2017 could be a pivotal year to demonstrate the potential of the larger property package."
Hassan also expects outside interest in Integra, stating, "With a sizable resource already defined, a permitted mill on site, significant exploration upside remaining and the potential for near term production, we believe Integra is at the top of the list for potential acquisitions."
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1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She owns, or members of her immediate household or family own, shares of the following companies mentioned in this article: None. She is, or members of her immediate household or family are, paid by the following companies mentioned in this article: None.
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( Companies Mentioned: ICG:TSX.V; ICGQF:OTCQX, )
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