Integra Gold Corp Announces 10,000 Meters Drill Project; US Palladium Bar Up

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Integra Gold Corp. has announced that it “will be drilling 10,000 meters within the Parallel Zone at the company’s Lamaque project, located in Val d’Or, Quebec. The company says they will reach 30,000 meters of drilling, an increase from the 20,000 meters previously announced, which brings drilling to date at 26,917 meters in 62 drill holes,” reports Kitco.

“Integra Gold also notes they will look to bring forward a Preliminary Economic Assessment on the Lamaque project by the first quarter of 2014. ‘The PEA is being prepared using the existing resource and the company is diligently focused on creating a development and mine plan with favorable economics and low capital expenditure requirements,’ Integra Gold says. ‘The company believes that due to the availability of multiple milling facilities in the immediate area, removing the strain of having to finance, permit and construct its own milling and tailings facilities, creates the potential for significantly reduced capital expenditure costs.’ Integra Gold says they are currently assessing a mining scenario which will entail the construction of two ramps, or declines, into the two highest-grade areas of mineralization, the Parallel and Triangle Zones.”

In metal price news…

US palladium bar saw the biggest upwards shift for the day, rising 1.7 percent to close on Monday, December 9. Japanese palladium bar finished the day up 0.6 percent. Chinese palladium bar saw its price rise 0.6 percent.

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Japanese platinum bar finished the day down 0.4 percent. The price of Chinese platinum bar fell 0.3 percent. The price of US platinum bar declined 0.3 percent.

Japanese gold bullion ended the day, after the 0.8 percent drop yesterday. Indian gold bullion closed 0.6 percent lower. The price of US gold bullion finished the market day up 0.5 percent per ounce. The price of Chinese gold bullion increased 0.4 percent.

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Japanese silver prices saw a 0.8 percent decline. Chinese silver prices inched up 0.7 percent. US silver prices rose 0.5 percent. The price of Indian silver fell 0.3 percent.