Project History

The early history of the Lamaque Mine was written by Wilson in 1948. He describes the original gold discovery by R. Clark in 1923 and subsequent staking of the original claims the same year followed by prospecting, stripping and trenching.

In 1928, Read-Authier Mines Limited was formed to acquire the Lamaque property and in 1929, 19 surface diamond drill holes totalling 7,031 feet were drilled.

In 1932, Teck-Hughes acquired an option on the property and drilled five holes totalling 1,705 feet to confirm previous results. The 1932 drilling returned positive results and Teck-Hughes exercised its option incorporating the Lamaque Gold Mines Limited, a wholly owned subsidiary of Teck-Hughes to take over the original property and a number of the adjoining claims.

Wilson reports that a shaft was sunk starting in January 1933; lateral work and construction on the original mill (recently torn down) followed in the summer of 1934. The mill started operations at 250 tons per day in April 1935 and was increased to 500 tons a day by the end of 1935 and to 1,000 tons a day by December 1937. Subsequently more shafts were sunk adjacent to the Main Mine or No. 1 Mine. These shafts include the number 2, 3, 4, 5, 6 and 7 shafts and the development of the East and West Mine areas.

The No. 2 Mine, approximately 3,800 feet northeast of the Main Mine area (not to be confused with the No. 2 Shaft present on the Integra Property), close to and on the extension of Sigma Mine structures, was developed in 1950-1951 to a depth of 1,347 feet with 9 levels developed. Production from the No. 2 Mine ceased in November 30, 1955. None of the Main, East, or West mines comprising the Main Mine - Mill Complex or No. 2 Mines remain on the Property but they collectively all contributed tailing that cover a significant part of the Property.

In late 1955 a new discovery approximately 4,500 feet southeast of the Main Mine was made and in late-1960 / early-1961 shaft sinking for the new zone, the No. 3 Mine, was initiated with a 3 compartment vertical shaft to 480 feet with 3 levels. In summer 1961 development work for three zones in the No. 3 Mine was underway. This shaft, known as the No. 3 Mine shaft, is located within the actual tailing. Historical records indicate that the No. 3 Mine yielded 152,015 tons grading 0.22 oz/ton gold.

Subsequently drifts were extended towards the No. 4 Plug from the No. 3 Mine area to provide access on the 450-foot and 700-foot levels. The upper levels of the No. 4 Plug was partially mined and yielded 160,000 tons grading 0.152 oz/ton gold from workings above the 700-foot level. Production for the No. 3 Mine and No. 4 Plug areas extended from July 1961 to 1967. On the 300-foot level the No. 3 Mine Shaft is connected with the No. 5 Plug workings.

In May 1985, all production at the Lamaque mine ceased. The Lamaque mill was kept on care and maintenance basis until 1986 for custom milling. Total production from the historical Lamaque Mine from 1935 to 1985 totalled 4,554,167 ounces of gold distributed over nine (9) mineralized zones

SUMMARY OF HISTORIC PRODUCTION FROM LAMAQUE PROPERTY

Zone

Tons Milled

Grade (Oz/Ton Au)

Total (Au ounces)

% of Total

Main

20,025,627

0.185

3,695,194

81.14

East

2,999,842

0.115

343,827

7.55

West

1,644,606

0.133

219,014

4.81

No.2 Mine

1,634,488

0.145

237,596

5.22

Zone

Tons Milled

Grade (Oz/Ton Au)

Total (Au ounces)

% of Total

No. 4 Plug

160 973

0,152

24 497

0,54

No.3 Mine

152 015

0,220

33 423

0,73

No. 5 Plug

5 572

0,111

616

0,01

Total:

26 623 123

0,170

4 554 167

100

Post-shutdown, Teck and Golden Pond formed the Teck-Golden Pond JV while Teck and Tundra formed the Teck-Tundra JV to explore a portion of the historical Lamaque property. The Golden Pond JV property was similar to the Integra Property, including most of the ground now 100% owned by Integra, but in addition included two small claims on the southern limit of the Villemaque block. The Tundra JV included two non-contiguous parcels. The northern parcel of land was centred on the No. 5 Plug and the second parcel was centred on the No. 4 Plug. Teck was the operator for the Golden Pond and Tundra JV programs.

Subsequently, in December 1988, Tundra signed an agreement with Teck to acquire a 100% interest in all of Teck’s assets at Lamaque. The assets to be acquired included the Main Mine Property, all surface structures including the mill, surface and underground equipment, and Teck’s interest in the Tundra, Golden Pond and Roc d’Or Mines agreements. The purchase price for the assets was $8,000,000. Tundra was also required to complete an exploration program and sink an exploration shaft to 1,000 feet on the No. 4 Plug. Preliminary work was initiated to meet the obligations of the agreement but a downturn in the industry made funding difficult and the 1988 option was never exercised leaving Teck with 100% interest in the Main Mine and mill area, which was eventually purchased by Placer Dome Inc. Tundra’s and Golden Pond’s interest in the Tundra and Golden Pond JV properties was diluted to 50% due to non-payment of their respective portions of lease rentals, assessment filings and taxes. No exploration was conducted on the Tundra and Golden Pond JV properties between 1990 and 2003 until Kalahari and Teck Cominco signed an agreement providing Kalahari the option to earn Teck’s interest in the JV properties. In 2009 Kalahari bought out the remaining Tundra and Golden Pond interests in the properties through a share swap. Kalahari changed its name to Integra Gold in 2010 and now owns 100% of the property.

In 2014, Integra Gold bought the adjacent Sigma Mill and historic Sigma and Lamaque Mines. Consolidating the Lamaque South property and the historic Sigma and Lamaque Mines for the first time in history. As part of the acquisition, Integra Gold sold excess waste rock and the environmental liability associated with the waste rock near the Sigma open pit to L. Fournier et. Fils for $1,025,000. The total purchase price for the asset was approximately $8,000,000, comprised of $1,800,000 in cash and $6,250,000 in common shares of the Company.