SOURCE: Integra Gold Corp.

Integra Gold Corp.

October 13, 2016 06:30 ET

Integra Gold Intersects 19.81 g/t Gold Over 19.0 m (Uncapped) at Triangle and Commences a 2,500 m Drill Program on First Gold Rush Challenge Target

VANCOUVER, BC--(Marketwired - October 13, 2016) -

Press Release Highlights:

  • Today's results include 19.81 g/t gold ("Au") over 19.0 metres ("m") (17.5 m true width, 8.31 g/t Au when capped at 34.3 g/t Au) from the C4 structure infill drill program which represents the widest ever gold bearing intercept reported at the Triangle Deposit
  • Results announced today also include 18.58 g/t Au over 9.7 m and 27.10 g/t Au over 5.95 m (respectively 4.76 m and 8.18 m in true width, and 19.55 g/t Au and 15.04 g/t Au when capped at 34.3 g/t Au) from the near surface C2 structure infill drill program
  • Drill results at C2 continue to return both grade and widths materially higher and thicker than the previously reported zone averages of 3.22 m in thickness and 7.50 g/t Au in grade (at a 5.0 g/t Au cut off) from the November 2015 resource estimate
  • 325 m of lateral development completed on exploration decline as of October 11, 2016, current position approximately 300 m away from the western limit of the C1 and C2 structures
  • 6 drill rigs are currently active on the Lamaque Gold Project, including four at the Triangle deposit, one testing the Lamaque Deep target (current drill hole depth of 1,596 m), and one recently added to test one of the priority Gold Rush Challenge targets

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. Results continue to support gold zone continuity with infill drilling generally intersecting significantly higher grades and wider intervals than anticipated. The results announced today are from 14,550 m of drilling conducted in 2016 and assays are currently pending from an additional 32,900 m (109 drill holes) of diamond drilling at Triangle.

"As both infill and expansion drilling successfully continues at Triangle, we are also pleased to report the mobilization of an additional drill rig to test one of the high priority targets produced from the Company's exploration crowd sourced competition, the Integra Gold Rush Challenge," commented Company President and CEO, Stephen de Jong. "The Gold Rush Challenge involved 1,400 entrants from over 90 countries and resulted in Integra receiving over 3,000 pages of exploration ideas and targets in and around its existing operations. The top twenty submissions have since been compiled and reviewed by company consultants into one summary report and we are excited to start drill testing the first target."

Triangle Drill Results Summary

The following table highlights selected intercepts from this tranche of drill results. Detailed results are presented in the link to the full assay results table below. Individual composites are disclosed as both uncapped and capped (when applicable) with individual values capped at 34.3 g/t Gold ("Au").

                
Drill Hole Number  From
(m)
 To
(m)
 Interval
(m)(1)
 Gold
Assay (g/t)(2)
 Interpreted
Zone
TM-16-124  383.60
Capped
Including
 389.55
 5.95

0.60
 27.10
19.55
101.35
 C2
TM-16-128A  378.70
Capped
 388.40
 9.70
 18.58
15.04
 C2
TM-16-130M02  348.30
406.00
 348.90
406.60
 0.60
0.60
 21.01
12.53
 -
-
TM-16-130M03  583.50
Capped
Including
Capped
Including
Including
 602.50
 19.00

7.60

3.40
1.50
 19.81
8.12
40.58
11.36
16.48
217.75
 -
-
C4
-
C4-20
-
TM-16-133AW01M01  319.00
Capped
350.95
 324.00

352.50
 5.00

1.55
 15.23
12.76
7.97
 C2
-
-
TM-16-139B  177.50
Capped
181.50
203.80
 179.00

188.50
208.50
 1.50

7.00
4.70
 19.32
15.15
6.44
10.21
 -
-
-
C2
TM-16-140M01  206.15
237.95
306.70
 206.65
239.00
307.20
 0.50
1.05
0.50
 12.74
7.29
10.65
 -
-
-
TM-16-149A  298.00  298.50  0.50  12.96  -
TM-16-154  227.10
232.30
Capped
 230.10
237.30
 3.00
5.00
 8.32
15.51
15.43
 -
C2
TM-16-158  95.00  96.60  1.60  18.11  -
TM-16-160  124.00
Capped
189.50
 135.00

191.00
 11.00

1.50
 11.95
10.04
10.22
 C2-30

-
TM-16-160M01  446.00
461.86
 451.00
463.00
 5.00
1.14
 7.87
9.56
 C4
-
TM-16-161M01  260.00  263.90  3.90  12.42  C2
TM-16-169AM01  292.50  294.50  2.40  18.32  C2
 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% conversion ratio); true widths of C structure intercepts are presented on longitudinal sections.
(2) For known mineralized zones, intervals are based on geological observations, 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 capped (when applicable) with individual values capped at 34.3 g/t Au; no minimum thicknesses considered.

To view the full assay results table please click on the following link:

http://www.integragold.com/i/pdf/2016_Composites_Compilation_vFinal%20Triangle_NR_12oct2016.pdf

To view a cross section of Triangle and the No. 4 Plug Deposit please click on the following link:

http://www.integragold.com/i/pdf/2016_Oct_NR_Triangle_Longsection_002.pdf

Infill Drilling in the C2 Structure Continues to Highlight Strong Internal Continuity and Resource Upside with Higher Grade and Wider Average Thickness

"It is encouraging to witness infill drilling delivering wider and higher grade intervals than anticipated at C2, in addition to reporting the widest ever interval at Triangle on the C4," commented Company Senior Vice President, Hervé Thiboutot. "A number of the wide, high grade zones recently identified in drilling occur in the near surface portion of the C2 structure, an area of the deposit we will soon have access to via the exploration ramp that is currently under development."

The C1 and C2 structures host the majority of the gold mineralization in the upper portion of Triangle and are the focus of an extensive infill drill program conducted at 25 m centers. The objective of this program is to continue to define the internal continuity of gold mineralization while, at the same time, provide additional information to guide the underground exploration ramp that was initiated in July 2016.

Results announced today are some of the best ever reported from the C2 structure, in particular drill holes TM-16-124 and TM-16-128A which both intersected significant high grade gold mineralization:

  • 27.10 g/t Au over 5.95m (19.55 g/t Au when capped at 34.3 g/t Au, 4.76 true width) and;
  • 18.58 g/t Au over 9.70m (15.04 g/t Au when capped at 34.3 g/t Au, 8.18 m true width).

Recent intercepts from the C2 structure are consistently wider and higher grade than the November 2015 resource estimate averages for that zone. At a 5 g/t cutoff the average true thickness of the C2 structure from the November 2015 resource was 3.22 m while the average grade was 7.50 g/t Au. While not necessarily representing the entire C2 structure, recently reported infill intercepts (including those disclosed today) highlight the potential for the structure to increase in thickness and average grade, and for the resource to expand.

Other significant intervals reported today from the C2 structure include (uncapped, downhole thicknesses):

  • 15.23 g/t Au over 5.0m (TM-16-133AW01M01)
  • 10.21 g/t Au over 4.7m (TM-16-139B)
  • 15.51 g/t Au over 5.0m (TM-16-154)
  • 12.42 g/t Au over 3.9m (TM-16-161M01)
  • 18.32 g/t Au over 2.4m (TM-16-169AM01)

As illustrated in the longitudinal sections for C2 (see link below), results from numerous intercepts in that structure are still pending. Note that the true thickness of intervals are indicated on all longitudinal sections and will differ from downhole lengths reported in the drill assay table.

http://www.integragold.com/i/pdf/ICG_20161012_PR_Longsections_C2.pdf

Triangle: Widest Intervals Ever Reported from Infill Drilling at C4

Infill drilling at C4 continues to successfully demonstrate mineralization continuity at Triangle. The results announced today include the widest interval ever reported at Triangle: 19.0 m of 19.81 g/t Au (8.12 g/t Au when individual assay intervals are capped at 34.3 g/t, 17.5 m true width). This specific intersection is from the upper western portion of the C4 structure, situated in an area classified as part of the inferred resource on the deposit. This intercept is of particular importance since it occurred in volcanic units 150 m west of the Triangle dioritic plug, demonstrating once more that mineralization at Triangle can extend hundreds of metres from the intrusive into the country rock, enhancing its resource potential.

The reported 19.0 m interval consists of a zone of tension veins within an intensely altered volcanic unit from 583.5 m to 588.3 m downhole. This is followed by the C4 sheared vein structure itself from 588.3 m to 595.9 m and finally, from 595.9 m to 602.5 m, by additional tension veining and the C4-20 C-flat structure also hosted within intensely altered volcanic rocks. Intersections of the C and C-Flat structures were known from previous drilling interpretation to have the potential to highlight wider areas of mineralization whose potential for bulk mining will need to be assessed in future studies. Unique to this drill intersection is the fact that the identification of the two main structures is also accompanied with numerous gold bearing semi-horizontal tension veins and veinlets within the wider altered rock sequence.

Please follow the following link to the core photos, highlighting the above description.

http://www.integragold.com/i/pdf/Core_Photos_Oct_2016.pdf

The intersection of C and C-Flat structures is another example of the similarity between Triangle and the historic Lamaque Mine located 3 km to the northwest which produced 4.5 million ounces during its +50 years mine life. The historic Lamaque Mine had areas that included all three types of vein structures (C, C-Flat and horizontal tension veins), similar to those identified at Triangle, which were historically mined using bulk mining methods. The combination of these zones, when present at the historic Lamaque Mine, provided more tonnage to the mine plan and drastically increased the number of ounces per vertical metre produced from the Lamaque Main Plug.

The results disclosed today continue to demonstrate the potential for the C4 structure to contribute to potential resource base improvements in deeper sections of Triangle (below 450 m vertical). To date, C4 is the largest and most continuous of the high-angle C-type structures at Triangle.

As illustrated in the attached vertical longitudinal section of the C4 structure (see link below), additional results are pending from multiple infill and extensional drill holes at various depths ranging from 325 to 825 m vertical.

http://www.integragold.com/i/pdf/LS_C4-DDH_20161012_withThumbnails_002.pdf

High-Grade Mineralization identified in between C and C-Flat 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 in between these well-defined structures. The mineralization identified between these primary structures highlights the potential for additional mineralized vein structures to occur in between the main zones identified, in part within associated tension vein arrays as described above. These additional mineralized zones represent potential resource upside that will be evaluated during future resource modelling and estimation and through close spaced underground drilling once underground access is granted.

Some of the more significant results include (all results uncapped, downhole thicknesses reported):

  • 21.01 g/t Au over 0.6m, 12.53 g/t Au over 0.6m (TM-16-130M02)
  • 19.32 g/t Au over 1.5m (TM-16-139B)
  • 12.74 g/t Au over 0.5m, 10.65 g/t Au over 0.5m (TM-16-140M01)
  • 9.56 g/t Au over 1.14m (TM-16-160M01)

Sixth Drill Rig Added to Test Priority Gold Rush Challenge Target

A sixth diamond drill rig was recently added at Lamaque with the intention of testing one of the most compelling targets produced from the Gold Rush Challenge. This target was identified through a compilation of geophysical data and drill hole information obtained through the acquisition of the Sigma-Lamaque property in late 2014. The new target, identified as the Sigma East Extension, corresponds to a sizable magnetic anomaly located some 750 m directly east and along strike of the historic Sigma Mine which produced over 4.5M ounces during its +70 years mine life. What is specifically compelling about this target is the geophysical anomaly straddles the previous properties border which resulted in limited exploration efforts by previous operators. This border was eliminated when Integra consolidated ownership of the respective properties in 2014 with its acquisition of the Sigma/Lamaque property.

In 2015, an extensive compilation of all available historic written records and digital data acquired with the Sigma Mill was completed. This database, which was made available to participants of the Gold Rush Challenge, included select historic drill results from the Sigma East Extension of 20.04 g/t Au over 4.42 m and 9.12 g/t Au over 4.37 m (uncapped, downhole width). Available geological information indicates that both of these intercepts correspond to steeply dipping shear zones associated with pyroclastic volcanic and dioritic intrusive units, a geological setting similar to both the Sigma Mine and Triangle mineralization.

The proposed 2,500 m drill program planned for the Sigma East Extension started on October 11 and will initially test the extension of the known mineralization up-dip and along strike. Additional information and results will be provided as they become available.

A plan map showing the location of this significant target, along with selected drill results, is available by following the link below.

http://www.integragold.com/i/pdf/Sigme_East_Extension_Target-2.jpg

Lamaque Project Exploration Program Summary

To date in 2016, a total of 104,500 m in 279 drill holes have been completed at Lamaque, of which 89,800 m in 253 drill holes were completed on Triangle. Drilling is ongoing with 6 drill rigs currently in operation; four drill are at Triangle continuing with the infill and extensional drill program, one drill rig is drilling the pilot hole at Deep Lamaque which has reached a depth of 1,596 m (intended target depth for the pilot hole being 2,200 m), and one drill rig is now testing the most interesting and easily accessed targets generated from the Integra Gold Rush Challenge, as previously described.

The results announced today are from 37 drill holes (including partial reports) representing 14,550 m. As of October 10, 2016 drill results are still pending from an additional 115 drill holes representing 38,965 m at Lamaque (including drilling for all zones). For Triangle alone, there are pending results for 109 drill holes representing 32,900 m. Results will continue to be disclosed regularly as they become available.

Triangle Deposit Summary

The Triangle zone consists of a series of high-grade, parallel, steeply to moderately dipping mineralized shear zones ("C" structures) structurally spaced at 125 to 150 m intervals, hosting gold-bearing quartz-carbonate-tourmaline veins, which host the majority of the deposit's gold resources. Other conjugates structures like the C-Splays (previously identified as C-Flat but to avoid confusion with real flat structures such as the tension vein arrays, nomenclature was recently changed; C-Splays could have dips varying from 20 to 60 degrees), and horizontal tension veins host the remainder of the resources at Triangle. The C1 and C2 structures occur from surface to a depth of 300 m and 475 m vertical respectively, the C4, C5, C6 structures occur between 320 m and 875 m vertically, and the recently identified C7 structure is presently known to extend from at least 975 m to 1,150 m vertically. The lateral and down-dip limits of gold mineralization for the deeper C structures (C5, C6 and C7) have yet to be identified and are open for expansion.

Drilling conducted since mid-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 1,000 m 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. Integra has raised over $100 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 recently named to the TSX Venture top 50 performers in 2015 and the OTCQX Best 50 award for 2015.

Qualified Person

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

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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.

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