Val-d’Or discovery prompts frenzy for Integra Gold
Integra Gold Corp(CVE:ICG) soared 7% on Tuesday on massive volumes after announcing drill results from its flagship Lamaque Gold Project located in Val-d’Or, Québec.
By the close the Vancouver-based small-cap was trading up 6.8% at $0.235 on the Toronto venture board, at its highs for the day.
A whopping 770,000 shares in the $26 million company had changed hands on Tuesday compared to the usual daily average of only 60,000.
The counter is one of only a handful of junior miners able to show a gain for 2013 with today’s bump lifting it into positive territory for the year.
Integra Gold yesterday after the close of trade announced the discovery of an extension of its high-grade Triangle Zone 175 meters from the existing resource.
Highlights from Integra’s 6,966m summer drill program on the South Triangle Zone at Lamaque include intersects of 13.29 g/t gold over 7.0 m including 22.1 g/t gold over 4.0 m.
The company said gold mineralized vein arrays at Triangle Zone in volcanic extended to vertical depth of 850m and the zone remains open along strike and depth.
“These results clearly demonstrate the potential to expand the known resource at the Triangle Zone, both laterally into the volcanics and at depth. The discovery of high grade mineralization in the volcanic rocks is particularly significant since it reveals a similar gold vein distribution as that of the neighboring Lamaque Mine. Nearly 20% of the 4.5 million ounces of gold produced at historic Lamaque Mine, to a depth of over 1,200 meters, were hosted within volcanic units,” said president and CEO, Stephen de Jong.