VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2012) - INTEGRA GOLD CORP. (TSX VENTURE:ICG) (the "Company") is pleased to announce it has commenced drilling at the No. 5 Plug, a high priority exploration target at its 100% owned Lamaque Project in Val d'Or, Québec. The No. 5 Plug is located near the property's northern border approximately 550 m south of the Sigma Mine, which produced 4.8 million ounces of gold to a depth of 2,000 m and 850 m west of the Lamaque Mine, which produced 4.5 million ounces of gold to a depth of 1,000 m. The Company's No. 4 Plug, where 20,500 m of diamond drilling was recently completed, is located 1,000 m to the south.
No. 5 Plug History
Exploration completed by Teck in the late 1980's discovered numerous high grade veins at No. 5 Plug which were never fully followed up on. Teck explored this plug both from surface drilling and from underground drifts driven from both the Sigma and Lamaque Mines. Past drilling from surface focused on testing for mineralization at shallow depths, with the majority of holes ending at vertical depths between 150 and 400 meters. A total of three drifts ended in or in the vicinity of the No. 5 Plug, at levels 100, 550, and 975 m below surface. Gold mineralization was reported in all three drifts with the lowest drift intersecting a significant vein, Vein No. 35, discovered just west of the intrusive plug. No additional work has been conducted on the No. 5 Plug since Teck left the area in the late 1980s, with the exception of a single hole drilled by the Company in 2010 that intersected mineralized veins and confirmed Teck's historic results. Selected results from historical vein intercepts are presented below while the full table of results can be viewed using the following link.
Highlights of mineralized intercepts:
|Drill Hole #
||Gold Grade (g/t Au)**
|* All intervals are down-hole thicknesses and do not necessarily represent true thicknesses
|** All uncut values - Composites with individual assay results cut to 68.6 g/t Au (2 oz/t Au) are presented in the detailed table (see link below)
Full assay table for historical results at the No. 5 Plug can be viewed here:
A map showing the location of No. 5 Plug and historic drilling is provided at the following link:
"The No. 5 Plug is an important exploration target that is known to contain high-grade gold mineralization near surface as well as at a depth of over 1,000 m. Drilling designed to expose its full potential will focus on expanding known high grade zones as well as testing the significant amount of unexplored ground between these zones," commented Company CEO, Stephen de Jong. "It is especially encouraging that Teck also discovered a high grade vein outside but adjacent to the intrusive plug, demonstrating that surrounding rock units are highly prospective. Drilling on other intrusive plug targets on the property, including the No. 4 Plug, has focused primarily on defining mineralization within the intrusive, with minimum exploration drilling testing for vein occurrences in the country rock."
A minimum of 10,000 m of NQ-size diamond drilling will be completed at the No. 5 Plug with an expected completion date of February 2013. The initial drill holes will duplicate specific holes drilled by Teck in order to confirm historic intercepts. Thereafter closer space drilling will be conducted on the upper levels as well as testing potential extensions of mineralization to depths reaching 800 m. It is likely that additional definition drilling will be required in 2013 before a resource estimate could be considered for the No 5 Plug.
No. 5 Plug Vein Occurrence
Mineralization at No. 5 Plug is typical of that recognized at the Sigma and Lamaque mines with veins contained in dioritic to granodioritic intrusive rocks. The usual three types of veins found in the area, i.e. sub-vertical ductile shear hosted veins - low angle brittle shear hosted - flat tension veins, are also known to exist at No. 5 Plug. Gold mineralization is associated to quartz veining with tourmaline and minor sulfide as pyrite and chalcopyrite; free gold is often encountered in veins. Alterations associated with the veins include carbonatization, sericitization, silicification and chloritization.
The Company recently completed 20,500 meters of drilling on the No. 4 Plug, and is awaiting assays for the final 8,500 m of core. This most recent phase of drilling at No. 4 Plug was the last of the drilling required to update the Company's current resource estimate. The upcoming resource, which the Company hopes to complete in Q1 2013, will incorporate over 35,000 meters of new drilling, the majority completed on the No. 4 Plug; update estimates will also be provided for the Parallel, Triangle and Forestel zones. Results from the current drilling program at the No. 5 Plug will not be incorporated into this resource update.
The Company also announces it has updated its current NI 43-101 Technical Report and filed a copy on SEDAR. The update consisted of primarily formatting requirements to ensure the report was completed to required standards. There was no new data incorporated to the report and no update of the resource estimates.
PROJECT AND COMPANY PROFILE
Integra's Lamaque Gold Project is located in 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 project shares its northeastern border with the Sigma Mine which historically produced approximately 4.8 million ounces of gold, with reported significant gold resources and reserves remaining. On its northwest border Teck produced a total of 4.5 million ounces from the historic Lamaque Mine, the Main Plug contributing the majority of the ounces with 3.7 million ounces of gold mined.
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 to ALS Laboratory Group and Bourlamaque Labs 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 a gravimetric finish completed for samples exceeding 5 g/t Au or a metallic sieve assay for samples containing visible gold. When available the gravimetric or metallic sieve assay results are used to calculate the reported composite intervals. The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, P.Eng. and Vice-President of the company, a Qualified Person ("QP") as defined by National Instrument 43-101, Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, P.Eng., Geo. of Géologica Inc., both independent QP as defined by National Instrument 43-101. The Company's QP has reviewed the technical content of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong, CEO & President
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Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release may 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 the Company's planned exploration activities, 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 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.
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