The Canadian Shield Could Host The Next Bonanza Discovery: Eric Lemieux

Integra is in a drill campaign with eight drill rigs with over 52,000 meters of drilling. Recent infill drilling at Triangle has targeted the C1 and C2 structures, providing more confidence in the current resource estimate. The company released a fourth round of drill results from its fall/winter drill program on March 31; results were highlighted by good intercepts from the C1/C2 structures located near surface.

Sigma/Lamaque Map

Sigma/Lamaque Map. Courtesy of Integra Gold.

Integra's announcement of a friendly $6M strategic investment in Eastmain Resources Inc. (ER:TSX) (EANRF) was a surprise. Eastmain's flagship project, the Clearwater project in the James Region, Québec, has had six mineral resource estimates since 2002 and is seeing a preliminary economic assessment being completed. Although Eastmain received the 2015 Discovery of the Year award from the Association de l'exploration minière du Québec (AEMQ), it's really important that management work at a reasonable pace and keep some momentum. Eastmain was certainly shaken into action by the proxy battle launched by Columbus Gold Corp. (CGT:TSX; CBGDF:OTCQX) on March 28; Columbus had now withdrawn its slate of board directors. Integra's investment represents 9.9% of Eastmain's shares and is conditional on the election of a new slate of Eastmain Board nominees, composed of four new directors that would join some of Eastmain's existing independent directors.

TGR: What is another company advancing in Quebec?

EL: Balmoral Resources Ltd. (BAR:TSX; BALMF:OTCQX) released a maiden resource estimate on March 7 for its 100%-owned and royalty-free Grasset nickel-copper-PGE deposit. This discovery received AEMQ's 2014 Prospector of the Year award. The combined Indicated resource is 3.45 million tonnes nickel equivalent. It's important to remember Grasset is still open; it's an ultramafic complex that hasn't been explored that much, so there might be other pearls in that string of potential deposits.

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Disclosure: 

This article does not constitute investment advice. Each reader is encouraged to consult with his or her ...

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