VANCOUVER, BC--(Marketwired - January 11, 2017) -
Press Release Highlights:
- Results from the C2 structure ("C2") also include 10.99 g/t gold ("Au") over 2.60 meters ("m") and 9.71 g/t Au over 8.50 m at a vertical depth of 300 m and 225 m respectively (all downhole thickness and uncapped results).
- Drill results from the C4 structure ("C4") also include 13.41 g/t Au over 6.80 m and 11.06 g/t Au over 4.80 m in C Splay structure C4-60 (all downhole thickness and uncapped results).
- 2017 drill program underway with five drill rigs at Triangle and one drill on the Lamaque Deep target.
- 510 m of development work completed on Triangle deposit exploration ramp.
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF), ("Integra" or the "Company") is pleased to announce additional assay results from its 2016 drill program on the Triangle Deposit ("Triangle") situated on the Lamaque Gold Project ("Lamaque") in Val-d'Or, Québec. The results announced today are from 5,950 m of drilling (17 drill holes) conducted in 2016. Results are currently pending from an additional 9,575 m (26 drill holes) of diamond drilling at Triangle.
"The results announced today continue to demonstrate internal mineralization continuity and support the resource expansion potential at Triangle. The high-grade results from C2 are especially encouraging as this area will soon be accessible via the exploration ramp and is the target of the underground bulk sample program planned for Q3 2017," commented Company President and CEO, Stephen de Jong. "Assay results for all drill holes drilled completed in 2016 on Triangle will be included in an updated Triangle resource estimate expected in Q1 2017."
Triangle Drill Results Summary
The following table highlights selected intercepts from this set of drill results. Additional results for drill holes disclosed in this news release can be found at the link below. Individual composites are disclosed as both uncapped and capped (when applicable) with individual values capped at 34.3 g/t Au.
|Drill Hole Number
|| ||Gold Assay (g/t)(2)
|| ||Interpreted Zone
|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 widths are close to downhole widths (approximately 85-90% conversion ratio); true widths of C structure intercepts are presented on longitudinal sections.|
|(2)|| ||Selection of mineralized intervals are based on geological observations, i.e. on the amount of quartz veining, and on a 1.00 g/t Au cut-off for compositing; composited intervals are presented uncap and capped (when applicable) with individual values capped at 34.3 g/t Au; no minimum thicknesses considered.|
| || || |
To view the assay results table for drill holes released today please click on the following link (note: new results are identified in red font):
To view a cross section of Triangle and the No. 4 Plug Deposit please click on the following link:
Drilling on C4 Continues to Provide Confidence in the Geological Model and Resource
The results disclosed today from drilling completed on the C4 structure continue to demonstrate internal mineralization continuity at Triangle and support the Company's current geological and resource model. Successful expansion drilling at C4 also indicates the potential for further resource growth at Triangle.
Drill hole TM-16-187W01M02 returned 11.06 g/t Au over 4.80 m in one of the footwall splays (C4-60) and demonstrates the potential for these sub-parallel C Splay structures to positively impact the global resource estimate at Triangle. Other C4 results announced today, including 18.70 g/t Au over 8.10 m and 13.41 g/t Au over 6.80m, are from infill drilling (all results uncapped, downhole width, see assay tables for details).
As illustrated in the attached vertical longitudinal section of the C4 structure (see link below), additional results are pending from infill and extensional drill holes at various depths ranging from 325 m to 825 m vertical. Note that the true thicknesses of intervals are indicated on all longitudinal sections and will differ from downhole lengths reported in the drill assay tables.
Drilling on the C2 Structure Continues to Confirm Internal Continuity
The objective of the infill drill program on C2 and associated C Splay structures is to further define the internal continuity of gold mineralization while providing additional information to guide the development of the underground exploration ramp currently underway. To date, the underground exploration ramp has advanced 510 m and will reach the first selected areas for the bulk sample in the coming months.
The recent intercepts from the C2 and C2 Splay structures include the following drill results (all results uncapped, downhole width, see assay tables for details):
- 10.99 g/t Au over 2.60 m (C2 - TM-16-211A)
- 66.46 g/t Au over 5.10 m (C2-70 - TM-16-211A)
- 9.71 g/t Au over 8.50 m (C2 - TM-16-215)
- 7.29 g/t Au over 4.60 m (C2 - TM-16-217)
- 9.34 g/t Au over 4.30 m (C2 - TM-16-219
As illustrated in the longitudinal section for C2 (see link below), results from numerous intercepts are still pending.
Longitudinal sections for the other C structures are provided by clicking on the following link:
C1 Structure: http://www.integragold.com/i/pdf/LS_C1-DDH_20170110_with-class.pdf
C5 Structure: http://www.integragold.com/i/pdf/LS_C5-DDH_20170110_with-class.pdf
C6 Structure: http://www.integragold.com/i/pdf/LS_C6-DDH_20170110.pdf
Lamaque Project Exploration Program Summary
The results announced today are from 17 drill holes (including partial holes, wedges and abandoned holes) representing 5,950 m. As of January 5, 2016, drill results are pending from an additional 26 drill holes representing 9,975 m at Triangle. All 2016 drill results from Triangle will be included in the resource estimate planned for Q1 2017. Drill results are also pending for 32 drill holes representing 15,180 m from other zones at Lamaque. Results will continue to be disclosed as they become available.
In total, 123,233 m of drilling was completed at Lamaque in 2016, of which 104,820 m were completed on Triangle. A total of six drill rigs are currently operating at Lamaque. Five drill rigs are continuing with the Triangle infill and expansion drill program while one drill rig is testing the Lamaque Deep target.
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 the fall of 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 significant exploration potential, this acquisition removed major costs and shortened timelines typically associated with mine projects. Integra has raised over $125 million since 2013, at successively higher share prices, despite depressed gold prices. In August 2015, Eldorado Gold Corporation completed a strategic investment in Integra, acquiring 15% of the outstanding common shares. Integra was 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 Au and from the AA finish if lower than 5 g/t Au.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong
CEO & President
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.