VANCOUVER, BC--(Marketwired - July 15, 2014) - Integra Gold Corp. (TSX VENTURE: ICG) ("Integra" or the "Company") is pleased to announce additional results from its 2014 Triangle Zone definition and extension drill program at the Lamaque Gold Project ("Lamaque") located in Val-d'Or, Québec.
The Company completed 25,040 meters ("m") of drilling in 65 drill holes as part of its 2014 winter drill program at the high-grade Triangle Zone. The results announced today are from 16 holes, representing 6,295 m of the program. This program has focused on reducing drill spacing to 25 to 50 m centers in the core of the Triangle deposit while also testing for lateral extensions of mineralization. The Triangle Zone is located in the southern part of the Lamaque project and contains the Company's highest grade indicated resource. In 2014 a total of 51 holes, representing 19,290 of this program have been disclosed by the Company.
Selected drill intercepts from holes disclosed today are presented in the following table:
|
|
|
|
|
| Drill Hole |
From
(m) |
To
(m) |
Interval
(m)* |
Grade (g/t)** |
| TM-14-13A |
224.00 |
225.00 |
1.00 |
11.65 |
| TM-14-16 |
163.00 |
164.00 |
1.00 |
13.16 |
| 179.25 |
182.25 |
3.00 |
31.93 |
|
94.00 |
96.00 |
2.00 |
14.79 |
| TM-14-21 |
143.00 |
144.00 |
1.00 |
13.65 |
|
185.00 |
186.00 |
1.00 |
22.26 |
|
420.50 |
421.00 |
0.50 |
35.36 |
| TM-14-29 |
123.00 |
124.00 |
1.00 |
13.23 |
| TM-14-30 |
43.00 |
45.00 |
2.00 |
38.84 |
|
353.20 |
355.50 |
2.30 |
28.11 |
| TM-13-37 |
441.10 |
441.80 |
0.70 |
47.09 |
|
456.50 |
458.75 |
2.25 |
38.64 |
|
534.10 |
540.50 |
6.40 |
9.63 |
| TM-14-38 |
171.00 |
173.00 |
2.00 |
26.68 |
| TM-14-39 |
84.00 |
85.00 |
1.00 |
13.31 |
| TM-14-45 |
281.75 |
283.75 |
2.00 |
22.23 |
| TM-14-47 |
323.40 |
325.10 |
1.70 |
33.02 |
|
|
|
|
|
|
|
|
|
|
*Down-hole thickness, true width varies depending on drill hole dip; most 2014 drill holes are intersecting the vein structures perpendicularly therefore down hole width are close to true width
**1.00 g/t Au cutoff; individual assay values uncut; no minimum thickness
To view a complete table of available composited results for the 2014 drilling please click on the following link. The table also identifies the 14 remaining holes for which assay results are still pending:
https://www.integragold.com/i/pdf/TriangleComplete-AssayTable-July2014.pdf
To view a location plan map of the drill holes disclosed today please click on the following link (note: this map only includes drill holes disclosed in this press release):
https://www.integragold.com/i/pdf/TriangleZone-DrillMap-July2014.pdf
"We continue to be highly encouraged with the results from our winter drill campaign. Intercepts released this morning further confirm our expectations that the individual, gold bearing zones at the Triangle zone continue laterally and at depth," commented Company President and CEO, Stephen de Jong. "Once all results from the winter campaign are received, compiled and modelled, we will complete a revised resource estimate for Triangle, in the second half of this year. More than 59,500 meters, in 173 drill holes, of additional infill and extension drilling, including this program at Triangle, has been completed at the Lamaque Project since the cut-off date for the resource estimates used in the March 2014 Preliminary Economic Assessment, definitively outlining the potential to extend the future mine life of the Lamaque Project."
Triangle Definition and Extension Drilling Program
The drill program had three principal objectives:
- Reduce the drill spacing for the upper portion of the known Triangle deposit between surface to 300 m vertical depth to 25 to 50 m centers.
- Assess the depth extensions of Triangle mineralization between 300 and 650 m vertical at 50 to 75 m drill centers. With the majority of the resource below 450 m vertical previously falling into the inferred resource category the drilling also aimed at improving the resource category to a depth of 650 m vertical.
- Test the extensions and continuity of the new Triangle mineralization reported in volcanics to up to 175 m south of the known resources, potentially increasing both inferred and indicated resources.
Outcomes and conclusions from 2014 Triangle Zone drilling:
- Results to date strongly support and validate the Company's geological model of the Triangle Zone used for both resource estimation and mine planning in the PEA. Mineralized zones were intersected where the model predicted they would be.
- Validation of near surface lateral extensions, primarily to the south of the Triangle Zone, with numerous drill holes intersecting high-grade mineralized shear zones hundreds of meters from the extent of the existing resource limit.
- Wide, high-grade zones intersected outside of but in proximity to the lower portion of the Triangle Zone resource, showing strong similarities to lower, bulk tonnage sections of the adjacent Main Plug at the historic Lamaque Mine. Mining at the Main Plug began using traditional, selective narrow vein mining techniques but as production moved deeper, below 500 meters, there were wide zones with multiple veins sets stacked upon one another that they were able to apply much lower cost bulk mining methods. The Main Plug of the Lamaque Mine produced 3.7 million ounces and is located within a few hundred meters of Integra's Lamaque project border.
The Company has re-started drilling on the Lamaque Project and intends to complete an additional 20,000 m of drilling this year. The drilling will include drilling the high-potential, untested geophysical targets near the Triangle Zone and No. 4 Plug, completing the definition drilling at the Fortune Zone, and further infrastructure condemnation drilling at the Triangle Zone (see press release dated July 9, 2014).
Project and Company Profile
Integra's Lamaque gold project is located in the heart of the Val-d'Or gold camp in the Province of Québec, Canada, approximately 550 km northwest of Montréal. Québec is rated one of the best mining jurisdictions in the world. Infrastructure, human resources and mining expertise are readily available.
The Company's primary objective is to continue to prove up additional resources while advancing the existing resource towards production. The project is divided into three main clusters of gold deposits, the North, South and West Cluster. The North Cluster consists of the Parallel, Fortune, No. 5 Plug, and No. 3 Mine deposits and is located approximately 1 km northwest from the South Cluster, which includes the No. 4 Plug and Triangle deposits. The Sixteen Zone and No. 6 Vein form the West Cluster.
Qualified Person
The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, Eng. and Senior Vice-President of the company, and Francois Chabot, Eng., Operations and Engineering Manager of the Company, both Qualified Person ("QP") as defined by National Instrument 43-101, and Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., Geo. of Géologica Inc., both independent QP as defined by National Instrument 43-101. The Company's QPs have reviewed the technical content of this release.
Quality Assurance - Quality Control ("QA/QC")
Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all drill holes. The core samples are submitted directly to Bourlamaque Lab in Val-d'Or for preparation and analysis. Analysis is conducted on 1 assay-ton aliquots. Analysis of Au is performed using fire assay method with atomic absorption finish, with a gravimetric finish completed for samples exceeding 5 g/t Au, or a metallic sieve assay for all samples containing visible gold. When available the gravimetric or metallic sieve assay results are used for the reported composite intervals.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong
CEO & President
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release constitute forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the private placement and Company's planned exploration activities, that the Company is able to complete the private placement, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the private placement will not be completed, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.