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Additional Information

Market:	ASX
Sector:	Gold Mining
EPIC:	IGR
Latest Price:	0.47 (4.44% )
52-week High:	0.63
52-week Low:	0.38
Market Cap:	396.56M

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Integra Mining Full Integra Mining profile here

Integra Mining (ASX: IGR) transitioned from gold explorer to producer in September 2010 after pouring first gold from its flagship Randalls Gold Project.

The company has steadily built up its mineral portfolio through a series of acquisitions, joint ventures and strategic alliances, and now controls a consolidated tenement package of approximately 1,500km2 in the heart of the Eastern Goldfields of Western Australia.

Integra Mining intercepts 6m at 8.64g/t gold and 1.1% copper at Imperial

Friday, February 10, 2012 by Angela Kean

Integra Mining has now intersected high grade gold-copper mineralisation over nearly 200 metres of strike at its Imperial Prospect, located just 500 metres from the company’s 260,000oz at 2.1g/t Majestic gold deposit.

Follow-up drilling at Integra Mining’s (ASX: IGR) Imperial Prospect testing the continuity of mineralisation intersected by reverse circulation and diamond drilling in late 2011 has returned further high grade results.

Highlights include:

- 6 metres at 8.64g/t gold and 1.1% copper, including 1 metre at 22.44g/t gold and 2.2% copper and 1 metre at 19.49g/t gold and 3.2% copper;
- 4 metres at 11.44g/t gold and 1.1% copper, including 1 metre at 28.94g/t gold and 3.6% copper and 1 metre at 15.94g/t gold and 0.6% copper; and
- 5 metres at 6.84g/t gold and 1.8% copper.

These recent assays further improve the potential of the Imperial Prospect, where earlier drilling returned significant intersections of 19 metres at 4.39g/t gold, 6.2 metres at 13.43g/t gold and 1.5% copper, and 2 metres at 31.10g/t gold and 1.3% copper.

Managing director Chris Cairns said, “These outstanding high-grade gold and copper results, hosted entirely within a granite, highlight Integra’s capacity to think beyond existing gold mineralisation paradigms in the Eastern Goldfields and generate quality exploration targets in areas formerly considered unprospective by previous explorers.

“We are working within a large gold-copper mineralised system with intrusive-related /porphyry style characteristics without any known analogue in the goldfields.”

Gold mineralisation at the prospect is hosted within the same granodiorite unit hosting the Majestic deposit and appears to be associated with a similar series of porphyry dykes.

These latest assays indicate that the mineralisation at Imperial continues for at least 190 metres strike and remains open down dip and along strike to the north and south.

Visible gold has been observed in a recently completed diamond hole drilled on section 6581760mN at the Imperial Prospect. Assay results from the diamond hole are pending.

Additional reverse circulation drilling is due to begin shortly to further test the continuity and strike extensions of the high grade gold and copper mineralisation at the prospect.

Majestic is part of 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.

Further defining the project’s potential is that almost 1.4 million ounces of that is in the higher confidence Measured and Indicated categories.

Cornerstone Investment

At the end of January Integra Mining announced the strategic acquisition of a 10% interest in Southern Gold (ASX: SAU), whose Bulong Gold Project neighbours Integra's Randalls Gold Project.

One potential processing option for Bulong Gold is Integra’s Salt Creek Gold Processing Facility.

Salt Creek is part of Integra’s Randalls Project, which comprises resources at Salt Creek, Maxwells and Cock-eyed Bob as well as exploration prospects at Lucky Bay, Mohegan, Lady Eileen and Red Dale.

Earlier in January, Integra achieved 100,000 ounces of gold production at Randalls, less than a year after ramping up to first commercial gold production in March 2011.

Cashed-up

Integra, one of Australia’s cheapest gold producers, poured 44,703 gold ounces in the six months to December 2011, at an impressive cash cost of $549 per ounce.

This provided unaudited revenue of $63.7 million, with a cash profit from the operations of $37.2 million.

At the end of the December quarter, Integra had $20.5 million cash in the bank.

Importantly, the company is reducing its debt with ongoing cash flows, paying off $5 million during the quarter with $16.2 million remaining.

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