Tuesday, 21 February 2012

Integra Mining’s Mt Monger Reefs prospect shows similarities to Daisy Milano gold mine

Integra Mining’s (ASX: IGR) Mt Monger Reefs prospect near Kalgoorlie has shown the potential for anomalous gold similar to that found at Silver Lake Resources’ (ASX: SLR) nearby 618,000 ounce Daisy Milano Mine.

Best gold intersections from initial reverse circulation drilling completed late last year comprise 5 metres at 2.84 grams per tonne (g/t) from 11 metres, including 1 metre at 7.55g/t, and 4 metres at 2.12g/t from 87 metres.

Drilling was designed to test bonanza grade gold assays produced from previous aircore drilling, including 3 metres at 77.66g/t gold.

The gold mineralisation is interpreted to be hosted in splays from the Goddard Fault and occurs along two north-northwest trends.

One of the trends may continue up to 180 metres south-southeast from a previous drilled rotary air blast hole that intersected 4 metres at 984.67g/t and was re-sampled at 3 metres at 77.66g/t, including 1 metre at 229.59g/t.

The north-northwest trending gold anomalies remain open at depth and are currently unconstrained along strike.

The Mt Monger Reefs prospect is an exploration target within Integra’s Randalls Gold Project located 60-130 kilometres east of Kalgoorlie in Australia’s most prolific goldfield.

Randalls has a JORC Resource of 30 million tonnes at 2.6g/t for 2.5 million ounces of contained gold, with almost 1.4 million ounces of that in the higher confidence Measured and Indicated categories. 

The prospect is strategically located just 13 kilometres northwest of Integra’s Randalls Gold Processing Facility.

Integra has conducted aircore and reconnaissance drilling in the Mt Monger area of Western Australia, targeting high grade gold associated with narrow veins similar to the nearby Daisy Milano gold deposit.

Additional reverse circulation drilling will begin shortly to further test the depth and strike extent of gold mineralisation at the Mt Monger Reefs prospect.

Significance of similarities to Daisy Milano

Daisy Milano has produced over 330,000 ounces of gold since its inception and has a current resource of 618,000 ounces – pushing historical and future production at the site towards the 1 million ounce milestone.

Daisy Milano still remains open at depth, highlighting the potential for an increased resource, which bodes well for Integra if the company's continued exploration is able to identify a similar geology.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/25602/integra-minings-mt-monger-reefs-prospect-shows-similarities-to-daisy-milano-gold-mine--25602.html

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