IGR - worth a better look

[IcedPaladin]

Trading Halt on the day before AGM. Surely not a capital raising

[brookvill]

SALT CREEK – BEST INTERCEPT TO DATE

The Board of Integra Mining Limited (Integra) is very pleased to report further drill intercepts from the Salt Creek gold discovery with the best intercept to date received from the Company’s 100% owned Randalls Project. This blind green-fields gold discovery is producing more big hits than Elvis. Drill hole SKRC103 returned an exceptional intercept of 40 metres grading 7.00 g/t gold from 74 metres which included a high grade zone of 14 metres grading 13.37 g/t gold from 83 metres.

Additionally, results have been received for one drill hole from the south-easternmost 80-metre step-out section which returned an intercept of 37 metres grading 4.59 g/t gold. With this result, gold mineralisation at Salt Creek has now been identified over 600 metres with drilling continuing to further define the overall strike extent of mineralisation. The Salt Creek discovery continues to deliver extraordinary results from shallow depths with recent results including:
. 40 metres at 7.00 g/t gold including,
• 14 metres at 13.37 g/t gold in drill hole SKRC103.
. 6 metres at 3.71 g/t gold and
. 37 metres at 4.59 g/t gold in drill hole SKRC107.
The sequence of strong gold intercepts from Salt Creek continues with drill hole SKRC103 returning the best intercept to date from this green-fields gold discovery of 40 metres grading 7.00 g/t gold from 74 metres which included a high grade zone of 14 metres grading 13.37 g/t gold from 83 metres. Drill hole SKRC103 was completed on the 24,920mN section, 40 metres north of a previously announced intercept of 62 metres at 2.38 g/t gold from 69 metres.
This previous intercept was the south-eastern limit of drill information at the time of the announcement and this new result demonstrates further continuity of mineralisation at the south-eastern end of drilling. The Company is also pleased to report it has received results from one hole completed on the
south-eastern-most step-out section 80 metres to the southeast of SKRC090. Drill hole SKRC107 has returned an intercept of 37 metres grading 4.59 g/t gold from 127 metres. This intercept extends the known strike extent of mineralisation to 600 metres. RC drilling is continuing on additional 80 metre step-out sections to identify further extensions to the Salt Creek gold mineralisation.

Cheers....Paul

[brookvill]

More info from my earlier post

This information is from another forum and posted by Kojasper.

We have to remember that this is a grass roots discovery, the best discovery this year and the parameters of how big it is aren't known. This latest hole 107 is a step out hole to 600 metres , another line out a further 80 metres has been drilled and assays pending , two further step outs for another 160 metres are plotted on the Release. Salt Creek is getting bigger every week. They have already marked the two further step outs and I am sure these will be drilled soon and the results released before Christmas.

Then of course we have that other significant discovery that has been made Reddale.

Drilling results for Reddale are pending, not to mention that collared hole drilling has commenced and drilling will continue here for the next six months if Salt Creek is anything to go by. Once again the python will swallow chickens and release them progressively over the next 6 months.

People should put the whole story together , not just read into "a single announcement"

What other story in Australia has read so well in the last 6 -12 months for discovery and move into production.

To add a little spice, Integra has also been presenting at the Mines and Money Conference in Frankfurt on Wed 28th November. Timely that this news should come out as it is creating a lot interest from lots of different circles from stock broking to funds management and now hopefully international investors. We have always known that the Germans are savvy investors and especially that the Canadians are savvy gold company investors.

Plenty of drilling happening and plenty of news to keep all the punters interested in Integra for the next couple of months.

I can’t believe that we are getting all this excitement and we haven’t even seen a single RC drill result out of Reddale. The potential is enormous and I can’t wait for the rest of the market and the overseas investors to wake up to the potential IGR has to offer.

[Revhead]

IGR has had a good run since September, running from 20 to 55c. For the past month it has been rock solid trading between 45 and 50ish.

It didn't escape the turmoil of the past few days, and anyone watching could have picked some up in the high 30's.

IGR has been releasing a steady supply of drilling results over the past few months. Check out the results for salt creek - more results are coming and they should be very good. Redale results are coming soon too!

I hold IGR

[Revhead]

Resource upgrade due any day, but probably coming next week. Good interest in IGR this morning so maybe those in the know getting set!

6 million cross trade (XTSP) thru a short while ago.

All good stuff!

[brookvill]

IGR Integra Mining

Market Cap $183m
366m shares on issue
$32m in cash
Estimate1.6 -1.7m oz resource @ above 3 grams a tonne (79% indicated previously, with recent drilling this is likely to be maintained or increased or 1.3m ozs ), an estimated 45-50% increase over previous estimate
Gold recoveries greater than 95% and Salt Creek as high as 99.5%
Situation is great with Kalgoorlie centre of the gold world
Not producing but in development, plant being dismantled in early 2008 in preparation for movement to production site and refurbishment
Good grades, all open pits less than 150 metres deep and most of Randalls are less than 75 metres deep shallow depth with good grades means low risk & higher margins.
The resource statement is due out shortly. The above figure is only an estimate.

Integra Mining is severely undervalued and it wont be long before the market latches onto it. With gold in the spotlight, it will be producers and quality developers that will be sought after. Gold is getting a lot more press and more so now that it has gone above the all time high of $875. Trading strongly at present time at $887.US which is A$1006.

We have tonnes of drilling in 2008 and the most exciting prospect would have to be Reddale. Management have been so excited about Reddale, they can't wait to hit the juicy part of the prospect. I think we will get the sort of news flow from Reddale that we have seen from Salt Creek in the past 6 months. Salt Creek is not done and dusted yet, we still don't know how big it is yet and they have the diamond drill rig on site now for further exploration at depth. So who knows who big it will get.

Price is starting to move today and the volume will improve as we get closer to the resource statement release date. Should be next week some time.

I think IGR is the most compelling GOLD story on the Aussie stock market. Before long, other people will make this realisation and we will get another lift.

[Revhead]

Good summary brookvill.

I particularly like IGR because there is so much more "potentially" to come. They haven't finished with Salt Creek yet and they have barely started on Reddale. The grades are excellent and close to surface.

Timing couldn't be better with gold crossing 890 earlier today. Gold is 889.30 right now!

That 32million in the bank is a result of a recent share placement. That's great too, because they have no need to go back to the market for more money in the near future.

IGR trading has been active over the past few days, no doubt due to the imminent release of the resource upgrade. Gold at 890 will be helping too.

Today's close at 55 (daily high), near all time high is very positive. A break up thru 56 tomorrow will be definitely on the cards. The nsiroc crossed today giving a buy signal.

[Revhead]

Bolted out of the blocks at the open this morning, up 3c to 58 at the moment!

Hopefully the resource upgrade is released today.

[Revhead]

ASX Release
10 January 2008

38% INCREASE IN ALDISS-RANDALLS GOLD
RESOURCES TO 1.6 MILLION OUNCES

MAIDEN 250,000oz RESOURCE FOR SALT CREEK GOLD DISCOVERY

• Consolidated Mineral Resources at the Aldiss-Randalls Gold Project (WA)
increased by 450,000 ounces (38%) to 1.6Moz of gold at a grade of 2.8 g/t Au.

• Tonnage, grade and contained ounces have all increased significantly.

• Major changes include:

the addition of an initial Inferred Resources estimate of 2.8 million tonnes
at 2.7 g/t for 250,000 ounces of gold covering part of the recent Salt Creek
gold discovery,

a significant increase in both grade and contained ounces at the Maxwells
gold deposit to 2.4 million tonnes at 5.2 g/t for 410,000 ounces of gold, and,

the inclusion of an Inferred Resources estimate for the Fingals gold deposit
of 2.0 million tonnes at 2.0 g/t for 130,000 ounces of gold.

• Feasibility Study on new standalone gold mine development to be completed in
second half 2008.

• Dismantling and refurbishment of New Celebration mill to commence first
quarter 2008 in parallel with exploration targeting 2Moz resource base.

[Revhead]

I like this bit buried in the text of the ann:

"Integra has enjoyed some outstanding exploration success over the past 12 months with the recent discovery of the ‘blind’ Salt Creek gold deposit and is also aggressively pursuing a number of other regional discovery opportunities. Foremost among these discovery opportunities is the Red Dale Prospect, together with several other exciting discovery opportunities which continue to emerge.

These will be detailed in an Exploration Update to be released shortly."


More to come yet!!