Projects Overview
Located between 50km and 100km east of Kalgoorlie in the Eastern Goldfields of WA, the Aldiss-Randalls area has had some previous mining over the years with a shallow open pit located at the Maxwells prospect in the Randalls tenements.
Integra has pursued a focused strategy of consolidating a substantial and highly prospective regional ground position at Aldiss-Randalls with the potential to deliver significant increases to the original resources acquired as part of the original project components.
Integra completed a pre-feasibility study in May 2006 based on processing of ore from the Aldiss Gold Project and the Maxwells deposit. The study demonstrated a four year mine life which management considered insufficient. The Company therefore decided to focus its ongoing efforts on exploration to build its mineable resources to a target level of five years before proceeding further with development.
This strategy has proved to be highly successful, with the Company increasing its consolidated resource base to 2008, with approximately 500,000 ounces in the Aldiss Project, approximately 1.8 million ounces in June1.2 million ounces at Randalls and about 100,000 ounces at the Mount Monger Project.
Since the original pre-feasibility study, Integra has also made a significant greenfields exploration discovery at Salt Creek, which represents one of the more significant greenfields gold discoveries in the Eastern Goldfields region in recent times. An initial resource of 4.6 million tonnes at 2.7 g/t containing approximately 400,000 ounces – sufficient to deliver a significant proportion of the bulk tonnage feed for its future production.
Integra acquired the former New Celebration gold processing facility for $3 million in 2006. This mill has a production capacity of 1.35 million tonnes per annum, which would underpin annual gold output of some 120,000 ounces. The Company is currently relocating the New Celebration mill, to the site near the Salt Creek gold deposit. This will form a central processing facility capable of treating ore from multiple deposits within the Aldiss-Randalls Project.
Integra is also progressing the exploration of high-risk / high reward exploration targets at its Oodnadatta IOCG (Iron Oxide Copper Gold) Project in the Gawler Craton, South Australia, in conjunction with farm-in partner Barrick Gold of Australia Ltd ("Barrick Gold").
Barrick Gold has been targeting four gravity anomalies with potential for IOCG mineralisation and is spending $3 million to earn an 80% interest.