SOURCE: Integra Gold Corp.

Integra Gold Corp.

February 01, 2017 06:30 ET

Integra Gold Intersects 40.43 g/t gold over 2.80 m, 36.86 g/t gold over 5.55 m, and 22.06 g/t gold over 7.85 m within the Proposed Bulk Sample Target at the Triangle C2 Structure (all results uncapped)

VANCOUVER, BC--(Marketwired - February 01, 2017) -

Press Release Highlights:

  • Results from the C2 structure ("C2") infill drill program also include 17.29 g/t gold ("Au") over 2.65 meters ("m") (downhole thickness and uncapped result).
  • Results from the C4 structure ("C4") infill drill program include 13.33 g/t Au over 7.70 m and 8.17 g/t Au over 5.75 m in C4, and 28.49 g/t Au over 2.10 m in C Splay structure C4-50 (all downhole thicknesses and uncapped results).
  • C2 was intersected in an underground electrical-bay crosscut off of the Triangle Deposit exploration ramp 75 m west of the previously known limit of C2. Sampling of the C2 intersection returned 6.25 g/t Au over 4.00 m (west face) and 6.30 g/t Au over 2.30 m (east face); faces are located 15 m apart in an east-west direction (all horizontal thicknesses; no capping required).
  • The 2017 drill program is underway with three drill rigs at Triangle, two drill rigs at the No. 4 Plug and one drill rig on the Lamaque Deep target.
  • To date, 900 m of underground exploration work has been completed on the Triangle Deposit; 582 m on the main exploration ramp and 318 m on secondary development.

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 16,800 m of drilling (42 drill holes) completed in 2016. Results are currently pending from an additional 9,750 m (28 drill holes) of diamond drilling at Triangle completed in 2016 and 2017.

"A crosscut on the C2 Structure approximately 75 m west of the known limits of the resource further demonstrates the potential upside that exists at Triangle. This represents the first time a C Structure at Triangle was visible to Company geologists in an underground working face, giving the team the opportunity to visually inspect the structure and vein. The positive assay results from the channel sampling done on the structure and the vein geometries as they relate to the resource model, clearly support what the Company has modeled through extensive drilling at Triangle," noted Company President and CEO Stephen de Jong.

Triangle Drill Results Summary

The following table highlights selected intercepts from this set of drill results. Additional results for drill holes disclosed in this news release can be found at the link 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 (m)  To (m)  Interval (m)(1)  Gold Assay (g/t)(2)  Interpreted Zone
TM-16-211AM01  811.00  813.10  2.10  7.89  -
TM-16-211AW01M02  756.50
Capped
 758.60
 2.10
 28.49
17.31
 C4-30
C4-50
TM-16-213W01M02  854.90  855.55  0.65  33.72  -

TM-16-216
 707.55
885.80
930.20
 714.35
888.00
932.30
 6.80
2.20
2.10
 5.65
5.10
7.89
 C4
C5
C5-30

TM-16-216W01M01
 705.00
Capped
870.00
 712.70

874.20
 7.70

4.20
 13.33
13.17
13.96
 C4

C5
TM-16-217  179.60  180.10  0.50  33.47  -
TM-16-220W01  312.70  313.30  0.60  29.96  -
TM-16-221M02  166.40  169.70  3.30  7.15  C1
TM-16-222A  233.30
Capped
Include
 235.40

 2.10

0.50
 53.70
10.85
214.29
 C2-30

TM-16-222AM01  616.40
703.10
772.40
Capped
 616.90
707.00
774.70
 0.50
3.90
2.30
 53.87
6.38
19.19
16.10
 -
C4-40
C5
TM-16-222AW01M01  443.90  445.90  2.00  8.65  C3-40
TM-16-222AW01M02  619.25
Capped
 625.00
 5.75
 8.17
7.75
 C4
TM-16-224BW01  386.00
Capped
 388.65
 2.65
 17.29
13.70
 C2
TM-16-225  184.00
Capped
Include
 186.80

 2.80

0.90
 40.43
18.04
102.90
 C2
TM-16-226  167.80
Capped
Include
 175.65

 7.85

3.85
 22.06
18.05
38.13
 C2

TM-16-228  516.90  519.90  3.00  6.97  C2
TM-16-229A  153.10
160.35
Capped
Include
 155.10
165.90

 2.00
5.55

0.95
 13.22
36.86
14.88
163.23
 C1-20
C2

TM-16-234  276.00
Capped
 279.30
 3.30
 12.73
10.55
 C1
TM-16-238  97.90  102.10  4.20  5.92  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 85-90% conversion ratio); true widths of C structure intercepts are presented on longitudinal sections.
  2. 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 con

To view the assay results table for drill holes released today please click on the following link (note: new results are identified in red font):

http://www.integragold.com/i/pdf/2016_CompCompilation_Triangle_01Feb2017.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/maps/Triangle_Longsection_Feb2017.pdf

Infill Drilling on the C2 Structure Intersects Significant High-Grade Mineralization within the Proposed Bulk Sample Target Area

The objective of the infill drill program on C2 and associated C Splay structures is to further define the internal continuity of gold mineralization while providing additional information to guide the construction of the underground exploration ramp. To date, the underground exploration ramp has advanced 582 m and will reach the first of the selected areas destined for bulk sampling in the coming months.

The recent infill drill results within the proposed target area for the bulk sample are quite significant and include numerous high-grade intersects. Reported drill results for the C2 and C2-Splay structures include the following (all results uncapped, downhole width, see assay tables for details):

  • 53.70 g/t Au over 2.10 m (C2-30 - TM-16-222A)
  • 40.43 g/t Au over 2.80 m (C2 - TM-16-225)
  • 36.86 g/t Au over 5.55 m (C2 - TM-16-229A)
  • 22.06 g/t Au over 7.85 m (C2 - TM-16-226)
  • 17.29 g/t Au over 2.65 m (C2 - TM-16-224BW01)
  • 6.97 g/t Au over 3.00 m (C2 - TM-16-228)
  • 5.92 g/t Au over 4.20 m (C2 - TM-16-238)

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

http://www.integragold.com/i/pdf/-LS_C2-DDH_20170201_with%20class.pdf

C2 Structure Intersected Underground 75 m West of the Known Limit of C2

The C2 structure was intersected underground in a southerly driven electrical-bay crosscut off the Triangle exploration ramp at an elevation of 260 m above sea level or approximately 65 m below surface. This crosscut in the C2 is located approximately 75 m west of the previously known limit of the C2 resource, suggesting additional resource upside may exist within the western extension of C2. Two continuous chip channel samples covering the entire exposed structure were taken on the east and west faces, with the faces located approximately 15 m apart. The west face channel sample returned 4.34 g/t Au over 6.00 m (including 6.25 g/t Au over 4.00 m) and the east face channel sample returned 6.30 g/t Au over 2.30 m (including 11.03 g/t Au over 1.80 m). To ensure proper QA/QC protocols were followed, blank and standard samples were inserted in the sample stream. Individual samples grade up to 18.38 g/t Au.

Click on the link below to view 4 photos of the two faces that were channel sampled. Note, C2 is dipping south up to 55 degrees:

http://www.integragold.com/i/pdf/Photos%20C2%20East-West%20Faces.pdf

Drilling on C4 and C5 Structures Continue to Provide Confidence in the Continuity and Potential of these Structures

The results disclosed today from drilling completed on the C4 and the C5 Structure ("C5") continue to demonstrate good internal mineralization continuity at Triangle and supports the Company's current geological and resource model. Successful expansion drilling at C5 also indicates the potential for further resource growth at depth.

Drill hole TM-16-211AW01M02 returned 28.49 g/t Au over 2.10 m in one of the footwall splays (C4-50) and demonstrates the potential for these sub-parallel C Splay structures to positively impact the global resource estimate at Triangle. Other C4 and C5 drill results announced today include:

  • 13.33 g/t Au over 7.70 m (C4 - TM-16-216W01M01)
  • 8.17 g/t Au over 5.75 m (C4 - TM-16-222AW01M02)
  • 19.19 g/t Au over 2.30 m (C5 - TM-16-222AM01)

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

http://www.integragold.com/i/pdf/-LS_C4-DDH_20170201_with%20class.pdf

Longitudinal sections for the other C Structures are provided by clicking on the following links:

C1 Structure: http://www.integragold.com/i/pdf/-LS_C1C120-DDH_20170201_with%20class.pdf
C5 Structure: http://www.integragold.com/i/pdf/-LS_C5-DDH_20170201_with%20class.pdf
C6 Structure: http://www.integragold.com/i/pdf/-LS_C6-DDH_20170201.pdf

Lamaque Project Exploration Program Summary

The results announced today are from 42 drill holes (including partial holes, wedges and abandoned holes) representing 16,800 m of drilling. Drill results from 2016 and 2017 are pending from an additional 28 drill holes representing 9,750 m at Triangle. By the time of this news release all samples will have been received from the 2016 drill program at Triangle and will be included in the resource estimate update planned for Q1 2017. Results will continue to be disclosed as they become available.

In 2016, 123,230 m of drilling was completed at Lamaque, of which 104,820 m was completed on Triangle. As of January 30, 2017, a total of 8,325 m (39 completed or ongoing holes) of drilling was completed at Lamaque, of which 7,926 m of drilling in 38 holes was completed on Triangle. A total of six drill rigs are currently operating at Lamaque; three drill rigs are continuing with the Triangle infill and expansion drill program, two drill rigs are operating on the No. 4 Plug Deposit and one drill rig is testing the Lamaque Deep target.

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 $125 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 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, Jacques Simoneau, P. Geo., Exploration Manager of the Company, and for underground work by Jessy Thelland, P. Geo., underground Chief Geologist at Integra. Mr. Thiboutot, Mr. Simoneau, and Mr. Thelland 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

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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