SOURCE: Integra Gold Corp.

Integra Gold Corp

July 15, 2015 06:30 ET

Integra Gold Intersects 22.15 g/t Au Over 4.0 Meters at Triangle Zone, 98.83 g/t Au Over 2.5 Meters at Parallel Zone, Expands 2015 Drill Program to 90,000 Meters

VANCOUVER, BC--(Marketwired - July 15, 2015) -

Press Release Highlights:

  • Results provide additional confidence in the continuity of the steeply dipping C4 mineralized structure at the Triangle Zone with step-out drilling over 150 meters east of the existing resource limit intersecting 7.45 grams per tonne gold ("g/t Au") over 5.0 metres ("m") in hole TM-15-29
  • Significant mineralization reported in sub-parallel steeply dipping structures C2 and C3 (located up-strike from C4) with uncut intercepts respectively of 39.17 g/t Au over 2.0 m in hole TM-15-23 and 22.15 g/t Au over 4.0 m in hole TM-15-30, indicating the potential for additional, sizeable mineralized horizons at Triangle
  • Potential for new, sub-parallel and steeply dipping, mineralized structures intersected at depth below the C4 in hole TM-14-52-W3 with intercepts including11.24 g/t Au over 4.0 m, 9.22 g/t Au over 1.0 m, 4.94 g/t Au over 6.0 m, and 36.10 g/t Au over 1.3 m
  • Metallurgical and infill drilling at the Parallel Zone shows continuity in both thickness and grade with uncut values of 27.09 g/t Au over 1.3 m (PV-15-01),59.97 g/t Au over 2.0 m (PV-15-02), 40.78 g/t Au over 2.0 m (PV-15-04), and 98.83 g/t Au over 2.5 m (PV-15-05)
  • 2015 drill program expanded to 90,000 meters with an expected five to six diamond drill rigs operating from August through the end of the year

Integra Gold Corp. (TSX VENTURE: ICG)(OTCQX: ICGQF) ("Integra" or the "Company") is pleased to announce additional drill results from its 2015 Triangle Zone ("Triangle") extensional drill program on the Lamaque South Gold Project ("Lamaque") located in Val-d'Or, Québec. The Company is also reporting initial results from its 2015 infill and metallurgical drill program at the Parallel Zone ("Parallel").

In 2015 the Company has completed 49,650 m of diamond drilling in 113 holes at Lamaque with up to 8 drill rigs operating on multiple targets. One drill rig is currently operating at Parallel with the plan to have four to five drills fully operational on Lamaque by September.

A total of 27,815 m of diamond drilling in 46 holes has been completed at Triangle year-to-date. Results announced today are from an additional eight holes representing 5,715 m. To date, 40 holes totalling 23,659 m of the 27,815 m drilled at Triangle have been released. Assay results for the remainder of the drilling, six holes representing 4,156 m, are pending and will be disclosed as they become available.

At Parallel the results disclosed today are from five holes representing 1,256 m of infill and metallurgical drilling from a total of 1,256 m in five holes completed so far in 2015. Drilling with one rig is ongoing and additional results will be disclosed as they become available.

"Drilling at Triangle continues to prove that this zone has room to grow. The steeply dipping "C" structures, and in particular the C4, continue to expand well beyond the limits of the intrusive host rock and previous resource estimates," commented Company CEO and President Stephen de Jong. "We are especially encouraged to see wide drill intersections of quartz veining, tourmaline and pyrite, all the key minerals associated with gold mineralization at Lamaque in step-out drilling. Infill drilling is required to better determine the tonnage and grade parameters which will happen along with further step-out holes as part of our expanded 2015 drill program and our planned 2016 program."

Triangle Zone and C4 Continue to Show Growth Potential

Winter drilling at Triangle focused on widely spaced step-out and extension drilling. Results disclosed today were from drilling aimed at assessing the potential for extensions of the deposit laterally in the volcanic units and below the current resource.

Foliated units and alteration assemblage associated with gold bearing veining is present in most holes, both high and low grade, and are interpreted as extensions of the C4 Zone. As long as the structure host rock is present, potential for gold bearing horizons exists and drilling the entire structural "panel" is required. The C4 structure, and other known sub-parallel "C" type structures such as C1, C2, and C3, extend for hundreds of meters in all directions, are still open laterally and at depth, and full exploration potential remains.

Selected significant drill intercepts from holes disclosed today are presented in the following table:

Drill Hole From
(m)
To
(m)
Interval
(m)*
Gold
Assay (g/t)
**
Interpreted
Zone
TM-15-23 151.00 153.00 2.00 39.17 C2
TM-15-26 673.50 674.50 1.00 27.05 ?
TM-15-29 608.00 613.00 5.00 7.45 C4
TM-15-30 305.00 309.00 4.00 22.15 C3
TM-15-31 196.00 199.00 3.00 6.38 C2
TM-15-35 274.00 275.00 1.00 15.38 C2
TM-14-52-W3 545.00
593.00
621.00
700.00
549.00
597.00
622.00
701.30
4.00
4.00
1.00
1.30
7.17
11.24
9.22
36.10
C4
T11a
T12
T16
           

*Down-hole thickness; true width varies depending on drill hole dip; most 2015 drill holes were aimed at intersecting the vein structures close to perpendicular therefore true width are close to down hole width (approximately 75% to 85% ratio)
**1.00 g/t Au cut-off; individual assay values uncut (follow links to full assay table for interval with cut values); no minimum thickness

To view a complete table of available composited results for the 2015 drilling at Triangle please click on the following link:

http://www.integragold.com/i/pdf/2015-07_NR_Composites_Compilation_Triangle.pdf

To view a location map of infrastructure and known zones at Lamaque South please click on the following link:

http://www.integragold.com/i/pdf/Zones_Loc_Infrastructure_Targets_2015-03.pdf

Structural Setting and Geological Modelling at Triangle Continues to Evolve

Gold mineralization at the Triangle Zone, highlighted by an abundance of quartz-tourmaline veins with minor amounts of pyrite, are interpreted to be predominantly hosted within a series of parallel, steeply-dipping shear structures identified as "C" zones. These high angle structures strike east-west and dip south at angles varying from 55 to 75 degrees. The interpreted "T" structures, which dip from 20 to 45 degrees to the south, continue to remain valid in the resource model although these gold bearing structures are now interpreted as second order structures developing from the more steeper "C" structures. Both structures are gold mineralized although the "C" zones are generally higher grade, steeper dipping and more continuous. The Company's predictive model as it relates to the "C" and "T" structures will continue to evolve as more drill data becomes available.

The evolution of the geological and structural model at Triangle is clearly showing that structural controls and mineralization patterns bear striking similarities to those hosting gold mineralization at the adjacent, historic Lamaque and Sigma Mines. The Lamaque and Sigma Mines jointly produced over 9.0 M ounces of gold and are located less than 2.5 kilometres ("km") from the Triangle deposit.

The Company's geologists have modelled four main "C" structures: C1 to C4, although recent drill hole results, including those released today, indicate that additional gold bearing, steeply dipping structures may be present at depth. The relevance and interaction of the "T" and "C" structures are evolving in the Company's model, bringing a higher level of predictability.

In order to provide readers with a better visualization of the size and continuity of the C4 zone, the Company has updated the vertical longitudinal section as shown in the following link.

http://www.integragold.com/i/maps/PR07-15_C4VLSLN.pdf

For clarification, this is not a true longitudinal section along the plane of the vein, but a projection of the vein onto a vertical plane; vertical distances on the longitudinal will therefore be shorter than real down-dip distances. Longitudinal sections for other "C" structures are now being prepared and validated and will be disclosed as they become available.

Up-Dip Projection of C4 Zone and No.4 Plug Deposit

The Company is currently conducting a review of its No. 4 Plug data, a separate gold deposit which is located approximately 400 m north of the Triangle deposit, to determine the potential for the "C" structures interpreted at Triangle to carry through to the No. 4 Plug deposit. C-like structures have been identified in drill core at No. 4 Plug as well as in between the two deposits, but it is still too early to equivocally ascertain the continuity of the structures between Triangle and No. 4 Plug. Drilling in 2014 identified isolated shear zones and mineralized quartz veins between the two deposits which appear to be in line with the up-dip projection of the C4 structure. Should Company geologists identify additional C structures below the C4 Zone, their anticipated up-dip projections would likely go through the No. 4 Plug deposit. This relationship between deposits is not dissimilar from what is seen at the Sigma and Lamaque Mines, where the Sigma shears which hosted the bulk of mineralization at the Sigma Mine dipped to the south and were identified throughout the Lamaque Mine. This theory is a key element in the Company's belief in the potential of its Lamaque Deeps target. Additional drilling is required between the two deposits to reach that definite conclusion and it is anticipated that this will be one of the main objectives of the winter 2016 drill program.

Positive Results from Parallel Infill and Metallurgical Drilling

With the objective of obtaining additional core samples for Phase IV metallurgical testing, the Company completed a set of five holes through the central area of the Parallel Zone. The Parallel Zone is located approximately 2 km northwest of the Triangle Zone. This drilling is aimed at intersecting and testing the lateral extension of the 6b Zone ("6b"), which is one of the highest grade and most continuous vein structures at Parallel. The following table summarizes the results:

Drill Hole From
(m)
To
(m)
Interval
(m)*
Gold
Assay (g/t)
**
PV-15-01 31.00
186.70
32.00
188.00
1.00
1.30
9.18
27.09
PV-15-02 89.50
145.00
90.00
147.00
0.50
2.00
17.66
59.97
PV-15-04 139.70
230.50
140.20
232.50
3.80
2.00
7.71
40.78
PV-15-05 209.50 212.00 2.50 98.83
         

*Down-hole thickness; true width varies depending on drill hole dip; most 2015 drill holes were aimed at intersecting the vein structures close to perpendicular therefore true width are close to down hole width
**1.00 g/t Au cut-off; individual assay values uncut, follow links to full assay table above for interval with cut values; no minimum thickness

To view a complete table of available composited results for the 2015 drilling at Parallel please click on the following link:

http://www.integragold.com/i/pdf/2015-07_NR_Composites_Compilation_Parallel.pdf

Results continue to confirm the lateral continuity of 6b. The Company intends to complete additional infill drilling at Parallel with the goal of reducing drill spacing in 6b to a nominal 20 m centers; a 5,000 m drill program to complete this objectives is currently underway. As part of this infill drill program, the Company will also extend multiple holes at depth to test the lateral continuity of the 7 Zones. The 7 Zones form the bulk of the high-grade inferred resources at Parallel and are not currently constrained laterally.

2015 Drilling Program Expanded Again to 90,000 meters

Given an abundance of positive results, continued success in step-out drilling, and a lower than anticipated cost of drilling for the 2015 winter program, the drilling program at Lamaque is being expanded for a second time this year. The 2015 program of 75,000 m program will now include a minimum of 90,000 m of diamond drilling, one of the largest drill programs for an exploration company in the entire industry.

One drill rig is currently operating at Lamaque and is completing the Parallel infill and depth extension drill program. The Company intends to restart drilling in earnest in August with a minimum of five rigs contracted to complete an additional 40,000 m before the end of the year. The remaining drill program includes exploration, extension, and definition drilling on numerous key targets including Parallel, No. 4 Plug, regional geophysical targets, and Triangle.

Project and Company Profile

Integra's Lamaque South Gold Project and Sigma-Lamaque Mill and Mine Complex are located directly east from the city of Val-d'Or along the prolific Abitibi Greenstone belt 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 focus is on exploring and subsequently developing, subject to further underground exploration, its high-grade Lamaque South project. The Lamaque South property is divided into three clusters, the North, South and West cluster. The primary targets are the high-grade Parallel zone in the North Cluster and the Triangle zone in the South Cluster. The recently acquired Sigma Mill, located 1 kilometre from the Parallel zone and 3 kilometres from the Triangle zone, is a fully-permitted, 2,200 ton per day mill and tailings facility. The Sigma-Lamaque Mill and Mine Complex include the historic Sigma and Lamaque Mines which operated for 75 and 52 years respectively and produced more than 9 million ounces of gold in total.

Qualified Person

The Lamaque South exploration project and Sigma-Lamaque Mill and Mine Complex, jointly known as the Lamaque project, are under the direct supervision of Hervé Thiboutot, Eng., Senior Vice-President of the Company. Mr. Thiboutot is a Qualified Person (QP) as defined by the National Instrument 43-101 and has reviewed and approved 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 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.

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