SOURCE: Integra Gold Corp.

Integra Gold Corp

September 10, 2014 07:00 ET

Integra Gold Announces Final Tranches of Results for 2014 Drilling at Triangle Zone and Reports Additional High-Grade Intercepts

VANCOUVER, BC--(Marketwired - September 10, 2014) - Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF)

Press Release Highlights:

  • Intercepts continue to confirm and expand lateral and down-dip continuity of known mineralized zones at Triangle
  • Multiple high-grade zones reported including:
    • TM-14-11 - 20.26 grams/tonne gold ("g/t Au") over 1.0 metre ("m")
    • TM-14-14 - 22.02 g/t Au over 2.0 m and 20.14 g/t Au over 3.0 m
    • TM-14-52 - 9.41 g/t Au over 9.8 m
    • TM-14-54 - 21.53 g/t Au over 1.6 m
    • TM-14-55 - 25.05 g/t Au over 2.0 m
    • TM-14-56 - 19.32 g/t Au over 2.2 m and 35.67 g/t Au over 1.7 m

Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF) ("Integra" or the "Company") is pleased to announce final results from its 2014 Triangle Zone definition and extension drill program at the Lamaque South 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 the 2014 winter/spring drill program at the high-grade Triangle Zone. The results announced today are from the last 14 holes not previously disclosed. This program focused on reducing drill spacing to 25 to 50 m centers in the core of the Triangle deposit while testing for extensions of gold mineralization laterally and at depth. The Triangle Zone is located in the southern part of the Lamaque project and contains the Company's highest grade indicated resource.

"This final batch of assay results continues to confirm expectations and demonstrate the strength and continuity of high-grade mineralization prevalent at the Triangle Zone," commented Company President and CEO, Stephen de Jong. "Sectional modelling for Triangle has recently been completed with completion of an updated resource estimate expected in Q4-2014. Including the winter drilling at Triangle, more than 65,000 meters of additional infill, extension and exploration drilling has been completed at the Lamaque Project since the September 2013 resource estimate which was used in the Lamaque project's Preliminary Economic Assessment ("PEA"). The Triangle Zone is located 2.5 kilometers south of the Sigma-Lamaque milling complex, which Integra announced earlier this month it will be acquiring."

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-14-11 186.00 189.00 3.00 11.85
444.00 445.00 1.00 20.26
474.00 476.00 2.00 10.65
509.00 510.00 1.00 17.85
TM-14-14 101.00 103.00 2.00 22.02
225.45 228.45 3.00 20.14
TM-14-42 270.00 273.00 3.00 9.65
284.00 285.00 1.00 10.22
TM-14-52 542.85 552.60 9.75 9.41
TM-14-53 449.00 450.00 1.00 15.51
TM-14-54 504.20 504.80 0.60 20.71
568.50 570.10 1.60 21.53
600.00 601.50 1.50 11.60
TM-14-55 253.90 255.90 2.00 25.05
TM-14-56 170.00 172.20 2.20 19.32
  321.30 323.00 1.70 35.67
         
     
* 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:

http://www.integragold.com/i/pdf/14-09-10-Assay-Tables-for-PR-Sept-2014.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):

http://www.integragold.com/i/pdf/Triangle-Drilling-Winter-Program.pdf

Summary of Triangle Definition and Extension Drilling Program

The drill program had three principal objectives:

  1. Reduce the drill spacing for the upper portion of the Triangle deposit, between surface to 300 m vertical, to 25 to 50 m centers;
  2. Assess the depth extensions of the Triangle mineralization between 300 and 650 m vertical at 50 to 75 m drill centers;
  3. Test the extensions and continuity of the Triangle mineralization up to 175 m south from known resources.

Final conclusions from the 2014 Triangle Zone drilling are:

  1. Results strongly support and validate the Company's geological model of the Triangle zone, which formed the basis for both resource estimation and mine planning in the PEA. In most cases, mineralized zones were intersected where indicated by the model.
  2. Validation of near surface lateral extensions, primarily to the south of the Triangle Zone, with numerous drill holes intersecting mineralized shear zones hundreds of meters from the extent of the existing resource limit.
  3. Wide, high-grade zones intersected outside but in proximity to the lower portion of the Triangle Zone resource (below 425m vertical level), showing strong similarities to lower, bulk mining 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 enough wide zones with 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 will, upon completion of the proposed Sigma-Lamaque Mill and Mines acquisition, be located within Integra's consolidated Bourlamaque Mines and Mill Complex boundaries.

The Company is presently drilling on the Lamaque South Project with one rig at the No. 5 Plug target. Pending receipt of permits, an additional 10,000 m of drilling is proposed before year end. The ongoing drilling program includes testing high-potential untested geophysical targets near the Triangle zone, and testing continuity of mineralization previously reported at the No. 5 Plug and No. 3 Mine targets with the aim of including these two zones in future economic evaluations.

Sigma-Lamaque Mill and Mines Acquisition

Integra and Deloitte, as Receiver to the assets of Century Mining Corporation, continue to work toward completing the purchase and sale of the Sigma-Lamaque Mill and Mine complex. With these two important conditions to closing now satisfied, being approval of the Québec Superior Court under the receivership process and conditional approval of the TSX Venture Exchange, the parties are continuing to work in order to finalize transfer preparations and related items, with closing scheduled for early October.

Project and Company Profile

Integra's Lamaque South 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 Persons ("QP") as defined by National Instrument 43-101, and Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., Geo. of Géologica Inc., both independent QPs as defined by National Instrument 43-101. The Company's QPs have approved the scientific and 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, including timing of completion of an updated resource estimate, timing of completion of an updated PEA and completion of the Sigma-Lamaque transaction. 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, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results 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, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. 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.

Contact Information

  • CONTACT INFORMATION
    Corporate Inquiries:
    Chris Gordon
    Email: chris@integragold.com
    P.O Box 11144, Royal Centre 
    #2270 -1055 West Georgia Street
    Vancouver, BC  Canada, V6E 3P3
    Or visit the company website: www.integragold.com