QUEBEC – Integra Gold Corp., owner of the Lamaque South project in Val d’Or, plans to purchase the adjacent Sigma-Lamaque mill and mine. The assets include a permitted 2,200-t/d mill and tailings facility, an underground mine with three portals, mechanics’ shop, office, dry, equipment, and all mining concessions and mineral claims on the Sigma-Lamaque property.
The purchase price totals $7.55 million, composed of $1.8 million in cash and 25 million Integra common shares valued at $5.75 million. The property was previously owned by Century Mining, but the Vancouver company is acquiring the site from the court appointed receiver.
Integra says the deal is much less costly than having to permit a new mill and tailings management area that might have a price tag of $100 million.
A deal has also been struck with a third party for the removal of the waste rock stockpiles. This strategy will considerably lower future reclamation costs at the site, according to Integra.
See the map at IntegraGold.com/i/pdf/IntegraConsolidated-Property-Poster-Map.pdf for an overview of the properties.