VANCOUVER, BC--(Marketwired - November 29, 2016) -
Press Release Highlights:
- Drilling on the C4 structure also included 14.06 g/t gold ("Au") over 4.40 meters ("m") in one of the C-Splay structures (C4-30) approximately 40 m into the structural footwall of the main structure, at a vertical depth of approximately 550 m (all downhole thickness and uncapped results).
- Step out drilling intersected 12.33 g/t Au over 2.10 m and 6.33 g/t Au over 4.50 m in the C5 structure, at vertical depth of 625 m and 825 m respectively (all downhole thickness and uncapped results).
- Infill drilling in near surface C1 and C1-20 splay structures returned, respectively, 10.53 g/t Au over 3.85 m and 13.12 g/t Au over 7.20 m (all downhole thickness and uncapped results).
- The Company is drilling approximately 7,000 m per month with seven drill rigs active on the Lamaque Gold Project, including six at Triangle and one testing the Lamaque Deep target.
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 19,310 m of drilling (54 drill holes) conducted in 2016. Assays are currently pending from an additional 9,950 m (23 drill holes) of diamond drilling at Triangle.
"Infill and expansion drilling on the C4 and C5 structures continue to underline the resource expansion potential at Triangle beyond the recently disclosed resource estimate update. This series of results, as well as the decreased assay backlog, ensure that the Company will capture most of the 2016 Triangle drilling in the next resource estimate scheduled for Q1 2017," commented Company President and CEO, Stephen de Jong. "The Company is also awaiting assays from the recent drilling of the first Gold Rush target and the initial wedge holes at the Lamaque Deep target. Both of these targets, in addition to the known deposits at Lamaque, highlight the potential for further brownfields discoveries for the Company."
Triangle Drill Results Summary
The following table highlights selected intercepts from this series 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 Au.
|Drill Hole Number
|| || ||From|
|| || ||445.30
|| || ||25.50
|| || ||593.30
|| || ||941.70
|| || ||683.20
|| || ||380.50
|| || ||913.90
|| || ||988.00
|| || ||246.70
|| || ||419.00
|| || ||548.80
|| || ||173.70
|n/a - no zone assigned yet|
- 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.
- 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 full assay results table please click on the following link (today's 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 the Outer Limits of the C4 Structure Continues to Confirm Zone Continuity and Predictability of Geological Model
The results disclosed today from drilling completed on the C4 structure continue to demonstrate mineralization continuity between known drill intercepts. The intercepts, which are from infill drilling on the lateral extensions of the structure, include the following (all results uncapped, downhole width, see assay tables for details):
- 35.51 g/t Au over 3.80 m (TM-16-151)
- 5.65 g/t Au over 2.80 m (TM-16-170W01M01)
- 7.34 g/t Au over 2.65 m (TM-171-M01)
- 7.59 g/t Au over 3.00 m (TM-16- 192)
These results support the Company's current geological and resource model and demonstrate the potential for further resource growth.
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 thickness of intervals are indicated on all longitudinal sections and will differ from downhole lengths reported in the drill assay tables.
Successful Expansion Drilling at the C5 Structure Demonstrates Growth Potential
Additional results from expansion drilling at the C5 structure continue to demonstrate the continuity of mineralization on this structure along strike and at depth, further highlighting the potential for resource expansion at Triangle. The C5 structure is located 125 m structurally below and parallel to the C4 structure, the largest of the C structures at Triangle. The results announced today include 12.33 g/t Au over 2.10 m and 6.33 g/t Au over 4.50 m, expanding mineralization on the C5 structure 50 m to the west and at depth.
As illustrated in the attached vertical longitudinal section of the C5 structure (see link below), additional results are pending from expansion drilling at various depths.
Infill Drilling in the C1 and C1-Splay Structures Continues to Highlight Good Internal Gold Distribution Continuity
Results from the C1 and the C1-Splay footwall structures continue to show good internal gold mineralization continuity. The objective of the infill drill program on the C1 and C2 structures, and associated 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 that was initiated in July 2016. The underground exploration ramp has now advanced 400 m towards its intended target and will reach the first selected areas for the bulk sample in the next few months.
The recent intercepts from the C1 and C1-Splay structures include the following (all results uncapped, downhole width, see assay tables for details):
- 10.53 g/t Au over 3.85 m (C1 - TM-16-211)
- 7.55 g/t Au over 3.20 m (C1 - TM-16-156)
- 7.24 g/t Au over 3.30 m (C1 - TM-16-179)
- 13.12 g/t Au over 7.20 m (C1-20 - TM-16-156)
- 7.38 g/t Au over 2.50 m (C1-60 - TM-16-156)
As illustrated in the longitudinal sections for C1 and C2 (see links below), results from numerous intercepts in these structures are still pending.
C1 Longsection: http://www.integragold.com/i/pdf/LS_C1-DDH_20161123_with_class.pdf
C2 Longsection: http://www.integragold.com/i/pdf/LS_C2-DDH_20161123_with_class.pdf
High-Grade Mineralization identified between C Structures
In addition to the mineralization identified in the primary C and C-Splay structures above, high grade gold bearing intercepts continue to be identified between these well-defined structures. These mineralized zones could represent potential resource upside at Triangle and will be evaluated in future resource modelling and estimation as well as through close spaced underground drilling once underground access is available.
Some of the more significant results include (all results uncapped, downhole width, see assay tables for details):
- 57.69 g/t Au over 0.55 m (TM-16-173W02)
- 22.40 g/t Au over 0.50 m (TM-16-171M01)
- 15.44 g/t Au over 0.70 m (TM-16-171M01)
- 12.70 g/t Au over 1.60 m (TM-16-192)
Lamaque Project Exploration Program Summary
The results announced today are from 54 drill holes (including partial holes, wedges and abandoned holes) representing 19,310 m. As of November 24, 2016, drill results are still pending from an additional 23 drill holes representing 9,950 m at Triangle. Including the drill results pending at Triangle, a total of 33 drill holes representing 16,900 m are pending at Lamaque. Results will continue to be disclosed as they become available.
To date in 2016, a total of 104,350 m of drilling has been completed at Lamaque, of which 92,200 m were completed on Triangle. A total of seven drill rigs are currently operating at Lamaque. One drill rig has started the wedging off of the 2,200 m long pilot hole at the Lamaque Deep target, and six drill rigs are continuing with the Triangle infill and expansion drill program. The first phase of drilling on one of the most interesting and easily accessible targets generated from the Integra Gold Rush Challenge (the Sigma East Extension) was recently completed and assay results are pending.
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 $120 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.
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.