VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 25, 2014) -
Press Release Highlights:
- Multiple intersections announced today occur outside of existing resource
- Other significant intersections include:
- TM-14-03A with 76.06 g/t Au over 1.0 m, 29.55 g/t Au over 3.0 m, and 8.34 g/t Au over 7.0 m
- TM-14-04 with 12.76 g/t Au over 2.0 m and 8.40 g/t Au over 3.0 m
- TM-14-09 with 75.18 g/t Au over 1.0 m and 10.76 g/t Au over 1.0 m
- TM-14-20 with 15.70 g/t Au over 2.0 m, 20.34 g/t Au over 3.0 m, 36.53 g/t Au over 1.0 m, and 11.23 g/t Au over 3.0 m
- TM-14-24 with 7.48 g/t Au over 5.0 m and 8.94 g/t Au over 2.0 m
- TM-14-26 with 11.35 g/t Au over 1.0 m and 8.06 g/t Au over 10.1 m
Integra Gold Corp. (TSX VENTURE:ICG) ("Integra" or the "Company") is pleased to announce preliminary results from its 2014 winter Triangle Zone definition and extension drill program at the Lamaque Gold Project ("Lamaque") located in Val-d'Or, Québec. The Company has now completed over 14,900 m in 38 drill holes on the Triangle Zone. The current program has been increased from 22,000 m to 24,000 m in an estimated 61 holes. The Triangle Zone, located in the southern part of the Lamaque project, contains the Company's highest grade indicated resources. Results announced today are from the first 12 holes which only represent 5,500 m of the drilling completed to date at Triangle. The Company currently has seven drill rigs operating on the Lamaque Project, five of which are at the Triangle Zone, one at the Fortune zone, and one rig cementing historic holes on various parts of the property.
"Ongoing interpretation of these results continues to confirm the continuity of high-grade mineralization between existing drill holes at the Triangle deposit, while at the same time demonstrating significant potential to increase the overall resource. The current program will also test the east, west and north limits of the Triangle deposit, all of which remain open and continue to show their potential to expand. Two hundred meters south of the Triangle deposit drilling intersected high grade mineralization. The untested ground between this new discovery and the Triangle deposit is now being drilled with initial results indicating the mineralized structures are continuous," commented Company President and CEO, Stephen de Jong. "Drilling at the Triangle Zone continues to validate the geological model the Company used to determine the resources and develop the mine plan in the Company's preliminary economic assessment ("PEA") as mineralized zones continue to be intersected within a few meters of their expected locations."
Drill result highlights include:
|TM-14-11 to TM-14-19
|TM-14-21 to TM-14-23
|TM-14-27 to TM-14-38
* Down-hole thickness, true width varies depending on drill hole dip; most holes are set to intersect the vein structures perpendicularly
** 1.00 g/t Au cutoff - individual assay values uncut - no minimum thickness
To view a complete table of composited assays for the results announced today please click on the following link:
To view a location plan map of the drill holes disclosed today please click on the following link (Please note, this map only includes drill holes completed in 2014):
Triangle Definition and Extension Drilling Program
The Triangle Zone drill program is focused on both reducing the drill spacing for the upper portion of the deposit, and testing for lateral extensions in order to increase the overall resource base. Although drilling has intersected multiple zones of high grade mineralization to over 1,000 m vertical, the Company has opted to focus its efforts on near surface resource expansion, and further increase the level of confidence in resources incorporated into its PEA. It is important to note that multiple drill intersections announced today occur outside of the current Triangle Zone resource estimate limit.
Drilling at the Triangle Zone is reducing drill spacing to 25-35 m centers for the upper portion part of the deposit, above the 600 m vertical level. Drill holes had previously been spaced approximately 50 to 75 m apart. This drilling aims to confirm the continuity of the gold bearing horizons interpreted in the 2013 resource model while at the same time upgrade, or covert, as much of the inferred resources as possible into the indicated resource category. To date, drilling has definitively confirmed the mineralized horizons structural continuity, providing further confidence in the Company's geological model and in the Company's ongoing ability to continue to convert resources to the indicated category.
This program is also testing for extensions of the Triangle Zone in all directions in order to increase the resource base above the 600 m vertical level. Any new resource calculations will be added to future economic evaluations. A number of the drill holes disclosed today are peripheral to the Triangle zone, either starting in between the Triangle and Triangle South zones or testing lateral extensions (see drill hole location plan map). Considering the initial results of this program, the Company will be aggressively pushing forward on an updated global resource estimate, which it anticipates will be completed in the second half of 2014.
2014 Lamaque Drill Program
Planned drilling for 2014 at the Lamaque project has been increased to a minimum of 45,000 m. This includes the current 24,000 m definition program at the Triangle Zone, definition drilling at the Fortune Zone (8,000 m), exploration drilling at Plug No. 5 (5,000 m) and Mine No. 3 targets (6,000 m), and geotechnical drilling at Parallel, Triangle, and Fortune (2,000 m). The Plug No. 5 and Mine No. 3 targets are not currently included in the Lamaque Project's total resource and pending the outcome of the proposed drill programs the Company may conduct resource estimation on these targets in the latter part of 2014.
Project and Company Profile
Integra's Lamaque gold project is located in the heart of 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 Company's primary objective is to continue to prove up additional resources while advancing the existing resource towards production. The project is divided into three main clusters of mineralization, the North, South and West Cluster. The North Cluster consists of the Parallel, Fortune, No. 5 Plug, and No. 3 Mine zones and is located approximately 1 km northwest from the South Cluster, which includes the No. 4 Plug, Triangle and Triangle South Zones. The Sixteen Zone and No. 6 Vein form the West Cluster.
The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, Eng. and Senior Vice-President of the company, and Francois Chabot, Eng., Operations and Engineering Manager of the Company, both Qualified Person ("QP") as defined by National Instrument 43-101, and Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., Geo. of Géologica Inc., both independent QP as defined by 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 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 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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Cautionary Note Regarding Forward Looking Statements: Certain disclosures in this release 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 that the Company is able to obtain any government or other regulatory approvals required to complete the private placement and Company's planned exploration activities, that the Company is able to complete the private placement, 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 the private placement will not be completed, 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.