VANCOUVER, BC--(Marketwired - August 09, 2016) -
Press Release Highlights:
- Results received from the C2, C4, and C5 structures continue to support internal continuity and lateral expansion potential with both infill and step-out drill holes intersecting significant mineralization in some cases up to 100 meters away from currently modeled resource envelopes
- High grade results from intercepts in the C4-30 footwall splay structure (50 m below the C4 structure, estimated dip of 55-60 degrees) indicating C4 footwall sub-parallel structures carry additional resource potential
- Results announced today are from 14,370m of 2016 drilling; assays are currently pending from an additional 44,370m (121 drill holes) of diamond drilling at Triangle
- Core logging backlog from the intensive winter drilling program was recently eliminated; the Company is actively working on also eliminating the core sampling and assaying backlog which is estimated at 20,000 samples
- 4 drill rigs are currently active on the Lamaque Gold Project
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF), ("Integra" or the "Company") is pleased to announce additional assay results from its Fall 2015/Winter 2016 drill program on the Triangle Deposit ("Triangle") situated on the Lamaque South Gold Project ("Lamaque") in Val-d'Or, Québec. These results continue to highlight the continuity and resource growth potential at Triangle.
"These results show both strong mineralization continuity and exciting resource growth potential within the C-type structures at Triangle. We are especially encouraged by the growth we're seeing in the near-surface C2 structure which will be targeted with the underground exploration program now underway with 75 m of ramp development completed to date," commented Company President and CEO, Stephen de Jong. "Impressive results from hole TM-16-101 are also significant as they show the potential of the splay-type structures from the primary C4 structure. These C4 splays, which occur between the C4 and C5 zones as secondary structures, are steeply dipping and initial work indicates they may also be amenable to the same long-hole mining method that is proposed for the C structures."
To view a cross section of Triangle and No. 4 Plug deposits as well long sections of the C2, C4 and C5 structures please click on the following link:
Infill Drilling at C4 Showing Mineralization Continuity and C4 Secondary Splay Structures Growing
Infill drilling results disclosed today include intercepts within C4, the largest high-angle structure at Triangle to date, which continues to demonstrate the internal continuity of gold mineralization within the deposit. Results from this zone include 7.36 g/t gold ("Au") over 8.2m (TM-16-103AM01, 5.39 g/t Au when capped at 34.3 g/t Au, downhole width) located in the center of the zone occurring at approximately 525m vertically below surface.
In addition, high grade results from two intercepts in the C4-30 footwall splay structure (50 meters below the C4 structure) indicate that these also steeply dipping C4 sub-parallel splay structures (dip estimated at 55 to 60 degrees) also carry significant resource potential. These intercepts returned the following results:
- 12.91 g/t Au over 4.0m (TM-16-086, 11.91 g/t Au when individual samples are capped at 34.3 g/t Au)
- 15.64 g/t Au over 6.7m (TM-16-101, 9.40 g/t Au when individual samples are capped at 34.3 g/t Au)
As illustrated in the attached vertical longitudinal section of the C4 structure (see link below), additional results are pending from multiple infill and extension drill holes at various depths ranging from 325 to 825m vertical.
Triangle Drill Results Summary
The table below highlights selected results from this tranche of drill results, link to full table below:
|Drill Hole Number
|n/a - no zone assigned yet
| || |
|(1)||Downhole thickness; true width varies depending on drill hole dip; most drill holes are aimed at intersecting the vein structures close to perpendicular therefore true width are close to down hole width (approximately 85% conversion ratio); true width of C structures intercepts are presented on longitudinal sections.|
|(2)||For known mineralized zones, intervals are based on geological observation, i.e. on the amount of quartz veining, a 1.00 g/t gold cut-off for compositing in intervals outside mineralized zones; individual composites are presented uncap and cap (when applicable) with individual values capped at 34.3 g/t Au; no minimum thickness considered.|
| || |
Click on the following link to view a complete table of available composited results for the fall 2015 and winter 2016 drilling at Triangle (drill holes disclosed today are identified in red font):
Lateral Extension of C5 Structure Identified in 100m Step-Out
Extensional drilling of the C5 structure indicates lateral extension of this major structure of up to 100 m to the west with result of 7.68 g/t Au over 2.5m (TM-16-091) reported at a vertical depth of approximately 825m. This additional 100m of strike potential on C5 indicates substantial resource upside potential which currently accounts for a small portion (<10%) of the Triangle deposit's total resources. The C5 structure, which has had materially less drilling completed on it when compared to the C4 structure, is viewed as one of the Company's highest potential targets and will continue to be tested from both surface and later on from underground as exploration at Triangle continues to advance.
Please review the attached vertical longitudinal section of the C5 structure by clicking on the link provided below.
Resource Growth Potential for the C2 Structure Highlighted by TM-16-159
As reported in previous news releases, the C1 and C2 structures host the majority of the gold mineralization for the upper portion of Triangle and will be the focus of an underground exploration program initiated in July of this year. Today's results in drill hole TM-16-159 are significant as high grade gold mineralization (14.82 g/t Au over 7.9 m, 12.92 g/t Au when cap at 34.3 g/t Au, downhole width, 300m vertical) continue to be reported from lateral drilling. Hole TM-16-159 extends a portion of the C2 structure approximately 30m to the east.
As illustrated in the longitudinal sections for C2 (see link below), results from numerous intercepts in these structures are still pending.
Additional High-Grade Mineralization identified between C-Type Structures
In addition to the mineralization identified in the primary C and C-Flat structures, high grade gold bearing intercepts continue to be identified between the well-defined C-Type structures, demonstrating the possibility for additional mineralized structures to occur in between the major structures. These mineralized zones represent additional potential resource upside which will be fully evaluated during resource estimation and through close spaced underground drilling once underground access is granted.
Some the significant results include (all results uncapped):
- 113.89 g/t Au over 0.5m (TM-15-064W01M02)
- 82.95 g/t Au over 0.5m (TM-16-101)
- 22.05 g/t Au over 1.1m and 172.34 g/t Au over 0.5m (TM-16-103AM01)
- 26.76 g/t Au over 0.6m (TM-16-153B M01)
Lamaque Project Exploration Program Summary
In 2016 a total of 82,000m have thus far been completed at Lamaque South; drilling is ongoing with 4 drill rigs currently in operation. The results announced today are from 23 drill holes representing 14,370m. As of August 10, 2016 drill results are still pending from an additional 137 drill holes at Lamaque representing 51,772m; for Triangle alone there are pending results for 121 drill holes representing 44,370m. Results will continue to be disclosed regularly as they become available.
Triangle Deposit Summary
Triangle consists of a series of high-grade, parallel, steeply to moderately dipping mineralized shear zones ("C" structures) structurally spaced at 125 to 150m intervals, hosting gold-bearing quartz-carbonates-tourmaline veins, which contains the majority of the deposit's gold resources. The C1 and C2 structures occur from surface to 300 and 475m vertical respectively, the C4, C5, C6 structures occur between 320m and 875m vertically, and the recently identified C7 structure is presently known to extend from at least 975m to 1,150m vertically. The lateral and down-dip limits of mineralization for the deeper C structures (C5, C6 and C7) has yet to be identified and are open for expansion.
Drilling conducted since August 2015 at Triangle has focused on infill and step-out/extensional drilling within select areas of the C1, C2, C4, C5 and C6 structures, and on deep testing of Triangle below 1,000m vertically. Characteristic geological host units, structural deformation in the form of shearing and alteration assemblages associated with gold bearing veins are present within the structures observed to date in most drill holes at Triangle. Ongoing results continue to demonstrate the validity of the predictive nature of the geological model and associated high grade gold bearing vein structures.
Project and Company Profile
Integra Gold is a junior gold exploration company advancing projects in Val-d'Or, Québec, one of the top mining jurisdictions in the world. The Company's primary focus is its high-grade Lamaque South project. In 2014, Integra completed the accretive acquisition of the Sigma Mill and Mine Complex, a fully permitted 2,200 ton per day mill and tailings facility. With major federal and provincial permits in place, existing infrastructure and exploration potential, this acquisition removed major costs and shortened timelines typically associated with mine projects. With a current market capitalization of approximately $450 million, Integra has raised over $100 million since 2013, at successively higher share prices. Integra was recently named to the TSX Venture top 50 performers in 2015 and the OTCQX Best 50 award for 2015.
The Lamaque project is under the direct supervision of Hervé Thiboutot, Eng., Senior Vice-President of the Company, and Jacques Simoneau, P. Geo., Exploration Manager of the Company. Mr. Thiboutot and Mr. Simoneau are Qualified Persons ("QPs") as defined by the 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 the Bourlamaque and ALS Laboratories 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 (AA) finish, with a gravimetric finish completed for samples exceeding 5 g/t Au. Results published are from the gravimetric finish if above 5 g/t and from the AA finish if lower than 5 g/t.
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.