SOURCE: Integra Gold Corp.

Integra Gold Corp.

May 11, 2016 06:40 ET

Integra Gold Intersects 34.52 g/t Gold Over 3.7 m and 11.70 g/t Gold Over 5.3 m in Step-Out Drilling as Footprint of the Triangle Deposit Continues to Grow

VANCOUVER, BC--(Marketwired - May 11, 2016) -

Press Release Highlights:

  • Resource growth potential highlighted by ongoing drilling, both infill and step-out, of the near surface C1 and C2 structures
  • High grade mineralization discovered in step out drilling of the C4 and C5 structures extending the mineralized structures laterally
  • Results today are from 13,300 metres ("m") of recent drilling; assays currently pending from an additional 65,150 m (159 drill holes) of diamond drilling at Triangle, the No. 4 Plug and other key exploration targets
  • 5 drill rigs currently active on the Lamaque Gold Project
  • Additional core processing facilities installed and number of shifts increased in order to handle core sampling backlog

Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF), ("Integra" or the "Company") is pleased to announce the fifth round of assay results from its fall 2015/winter 2016 drill program on the Triangle deposit ("Triangle") on the Lamaque South Gold Project ("Lamaque") located in Val-d'Or, Québec. These results highlight the resource growth potential at Lamaque as the Company moves towards its underground exploration program at Triangle to commence in June of this year.

"The drill results continue to show both strong mineralization continuity and exciting resource growth potential within the near-surface C1 and C2 structures. This is extremely encouraging, as these structures will make up the first phase of any contemplated mining scenario at Triangle. Our team is confident and energized to begin the underground exploration program at the Triangle Deposit, set to commence in a few weeks," commented Company President and CEO, Stephen de Jong.

"These latest drill results also demonstrate ample room for gold resource growth across our flagship asset. In addition to the success in intersecting continuous mineralization in the upper portion of the Triangle deposit, results from the deeper C4 and C5 structures continue to show the potential for significant lateral extensions. We have drilled 78,600 m on the Triangle deposit since the database cut-off (August 01, 2015) for the last resource disclosure and we are pleased at the high grade mineralization we continue to find. With one of the most active exploration projects in North America, we have five drill rigs currently active, 65,000 m in drill assays pending, and an aggressive plan to grow and define our high-grade deposits and exploration targets."

Triangle Deposit Overview

The Triangle deposit is made up of a series of high-grade, parallel, steeply to moderately dipping mineralized "C" structures which host the majority of the deposit's gold resources. The C1 and C2 structures occur from surface to 350 m vertical while the C4, C5 and C6 structures occur between 350 m and at least 850 m vertically, while remaining open at depth. The lateral and down-dip limits of mineralization at almost all of the C structures have not yet been identified. Today's results, further showing mineralized extensions beyond previously established boundaries, is a testament to this fact.

Drilling conducted since the fall of 2015 at Triangle has focused on infill drilling within selected areas of the C1 and C2 structures, on infill and widely spaced step-out/extensional drilling of the C4, C5, and C6 structures, and on deep testing of the Triangle deposit. Characteristic geological host units and alteration assemblages associated with gold bearing veins present within the structures were observed in most drill holes to date. Ongoing results continue to demonstrate the validity of the predictive nature of the geological model and associated high grade gold bearing vein structures.

Resource Growth Potential identified in C1 and C2 Structures: Multiple Intersections Exceed Average Grade and Thickness of Existing Resource

The C1 and C2 structures host the majority of gold mineralization for the upper portion of Triangle. Today's results are significant as high grade gold mineralization continues to be identified at relatively shallow depths (above 350 m vertical). These results both confirm the continuity of these upper zones as well as show the potential for near-surface lateral resource expansion along strike.

Intercepts disclosed today include the following significant results in both the C1 and C2 structures (note: all reported thicknesses are a measurement of downhole widths):

In C1 structure:

  • 23.69 grams per tonne gold ("g/t Au") over 3.7 m in drill hole TM-16-106

In C2 structure:

  • 22.25 g/t Au over 3.8 m in drill hole TM-16-084
  • 35.65 g/t Au over 2.5 m in drill hole TM-16-085A
  • 10.25 g/t Au over 4.2 m in drill hole TM-16-097
  • 21.23 g/t Au over 2.5 m in drill hole TM-16-106

As illustrated in the attached longitudinal sections for C1 and C2 (see link below), results from numerous intercepts in these structures are still pending. In total, results from an additional 56 drill holes in to the C1 structure and 57 drill holes in to the C2 structure are pending.

Link to C1 and C2 long sections: http://www.integragold.com/i/pdf/2016-05-11_nrm2-icg-bgwu8q.pdf

High Grade Mineralization Intersected in Step-Out Drilling on C4 and C5 Structures

Step-out drilling conducted on the C4 structure continues to deliver with both average to high grade mineralization reported beyond the limits of known structures and the existing resource. Highlights from results announced today include drill hole TM-16-120A which returned 34.52 g/t Au over 3.7 m (21.47 g/t Au when capped at 34.3 g/t; downhole width). Drill hole TM-16-120A is located beyond the present mineral resource envelop and represents one of the westernmost drill holes in the upper portion of the C4 structure. This opens a significant area for additional gold mineralization at a vertical depth of approximately 525 m.

Today's results also show clear potential for the C4 'flat structures' (secondary mineralized structures identified as splays off the C4 structure which generally dip between 45 and 60 degrees) to develop into substantial mineralized structures with 23.65 g/t Au over 2.0 m (downhole width) reported from drill hole TM-16-084. Results from an additional 39 drill holes in to the C4 structure are pending.

Lateral and extension drilling of the C5 mineralized structure, located 150 m stratigraphically below the C4 structure, also encountered high grade mineralization with an intercept of 11.70 g/t Au over 5.3 m (downhole width) in what is now the westernmost drill hole of that structure. That drill hole is located on the western edge of the resource envelop and is likely to extend the resource for that zone in that direction. Results from an additional 17 drill holes in to the C5 structure are pending.

Link to C4 and C5 long sections: http://www.integragold.com/i/pdf/2016-05-11_nrm3-icg-bgwu8q.pdf

Visible gold and other indications of mineralization have been visually identified by the Company's geological team in preliminary core observations on numerous drill holes pending, giving Integra confidence these structures will continue to expand.

High-Grade Mineralization Continues to be identified between C-Type Structures

In addition to the mineralization identified in the primary C and C-Flat structures, narrow high grade gold bearing intercepts continue to be identified, demonstrating the possibility for additional C or C-Flat structures to occur between the well-defined C1 to C6 structures. These structures represent additional resource upside which will be determined once underground access is available. For the time being, they will be excluded from the reported mineral resource, due to a lack of drill data and pierce points.

Uncapped results include the following (all downhole widths, refer to table below for capped results):

  • 71.86 g/t Au over 0.5 m in drill hole TM-15-077B
  • 36.15 g/t Au over 1.2 m and 14.01 g/t Au over 1.0 m in drill hole TM-16-084
  • 21.94 g/t Au over 0.5 m in drill hole Tm-16-106
  • 24.73 g/t Au over 0.7 m in drill hole TM-16-108
  • 26.14 g/t Au over 0.5 m in drill hole TM-16-121

Click on the following link to view an idealized section showing relation between the Triangle and No. 4 Plug deposits, and main C structures.

http://www.integragold.com/i/pdf/2016-04-18_tap4-ngqk8k.pdf

Drill Results Summary

The table below highlights selected results from this tranche of the infill drilling program:

Drill Hole Number   From (m)   To (m)   Interval (m)(1)   Gold Assay (g/t)(2)   Interpreted Zone
TM-15-077B   1231.50
Cap
  1232.00   0.50   71.86
34.30
  -
TM-16-084   500.30
Cap
775.00
790.50
1155.90
Cap
1232.10
  504.10

777.30
792.50
1157.10

1237.10
  3.80

2.30
2.00
1.20

1.00
  22.25
18.35
6.40
23.65
36.15
22.21
14.01
  C2

C4
C4-?
-

-
TM-16-085A   475.00
Cap
  477.50   2.50   35.65
19.26
  C2
TM-16-088   251.00   253.10   2.10   6.22   C1
TM-16-092   257.80   260.00   2.20   7.34   C1
TM-16-097   300.00   304.20   4.20   10.25   C2
TM-16-103AM01   781.50
Cap
  786.80   5.30   11.70
10.86
  C5
TM-16-104D   34.00   36.60   2.60   7.14   C1
TM-16-106   38.50
Cap
188.70
235.00
Cap
297.00
298.90
  42.20

192.10
237.50

297.50
301.00
  3.70

3.40
2.50

0.50
1.00
  23.69
21.38
8.15
21.23
9.94
21.94
12.65
  C1

C1-70
C2

-
C2-70
TM-16-108   153.00   153.70   0.70   24.73   -
TM-16-114BM02   406.50   412.10   5.20   7.31   C2
TM-16-120A   713.40
Cap
  717.10   3.70   34.52
21.47
  C4
TM-16-121   161.00   161.50   0.50   26.14   -
TM-16-146M03   684.80   687.20   2.40   6.08   C4

(1) Down-hole thickness; true width varies depending on drill hole dip; most 2015-2016 drill holes were 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) 1.00 g/t Au cut-off; individual assay values 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).

http://www.integragold.com/i/pdf/16-May-ICG-Results-Composites-Compilation-Triangle.pdf

2015/2016 Exploration Summary

A total of 93,592 m in 203 drill holes was completed at Lamaque in 2015 of which 59,753 m in 104 drill holes was conducted at Triangle. In 2016 a total of 65,000 m in 159 drill holes have thus far been completed at Lamaque South. Drilling is ongoing at Lamaque with 5 drill rigs currently in operation.

The results announced today are from 28 drill holes representing 13,230 m. As of May 11, 2016 drill results are still pending from an additional 133 drill holes at Triangle representing 50,400 m, 12 drill holes at No. 4 Plug representing 9,350 m, and 12 drill holes from various other targets representing 5,400 m for a total of 65,150 m pending assays. Results will continue to be disclosed as they become available. Integra has installed additional core processing facilities and increased the number of shifts in order to handle the large amount of core sampling.

2016 Surface Drill Program

The Company anticipates drilling approximately 90,000 m in 2016 with the majority of this drilling aimed at defining and expanding the gold resource at Triangle. The bulk of the drill program has been completed during the winter/spring months, from January to May. Following the construction of new access roads, the Company expects it will be able to continue drilling throughout the spring and summer with 2 to 4 drill rigs in operation.

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 over $250 million, Integra has raised over $80 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 Laboratory 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. Metallic sieve assay is conducted, additional to the regular fire assay methods, for all samples containing visible gold. Results published are from the metallic sieve assay results is available, if not they 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 matter s 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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