VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2013) - Integra Gold Corp. (TSX VENTURE:ICG) ("Integra" or the "Company") is pleased to announce the first set of results from drilling at the No. 5 Plug at the Lamaque Gold Project in Val d'Or, Quebec. The No. 5 Plug is an exploration target within the North Cluster, 1,000 m north of the Company's primary zones, the Triangle Zone and No. 4 Plug, which together form the South Cluster (see map below).
Link to map: http://www.brmstatpack.com/lt/1005/1307/integra-gold-property-zone-map
"We are encouraged by the both grade and frequency of veins we are seeing at the No. 5 Plug and look forward to continuing to define this exploration target. Exploration at the No. 5 Plug was in its infancy when Teck originally joint ventured the project in the late 1980s and there remain a number of high grade targets which were never adequately followed up on," commented Company President and CEO, Stephen de Jong. "The results announced today demonstrate that mineralization occurs throughout the intrusive plug, which remains open at depth. Drilling is planned to continue year round at Lamaque, both infill and testing exploration targets such as the No. 5 Plug, making for a steady news flow to accompany other major catalysts. The No. 5 Plug results will not be included in the Company's next resource update, which is anticipated to be completed in Q2 2013."
Drilling at Plug No. 5 has focused on defining gold mineralization at 50 to 100 m centers with a focus on the upper part of the intrusive Plug (above 400 m vertical) although significant gold mineralization is being discovered below this level. Results announced today are from the first six holes of a 10,000 m program which began in October 2012. 11 holes, totaling 5,000 m, have been completed in this program to date.
Drill highlights include:
||Hole lost at 45 m down hole;
no values of interest reported
|* 1.00 g/t Au cutoff - individual assay values cut to 68.6 g/t Au - no minimum thickness
To view a complete drill table and plan map of recent drilling please click on the following links:
"Due to the high 'nugget effect' at Lamaque, in which there is a high variance in grade within the mineralized zone, the low grade intersections also provide crucial information on potential areas of mineralization," commented Company Senior VP of Exploration, Hervé Thiboutot. "As an example, two drill intersections through the same zone, only a few feet from each other, could potentially run 1 g/t Au and 50 g/t Au respectively. The Company's exploration strategy is to first identify these areas of mineralization, regardless of grade, and secondly follow up with focused drilling to obtain sufficient data to be representative of the average grade. The low grade zones identified within the No. 5 Plug therefore remain high priority targets in ongoing exploration."
Exploration History at No. 5 Plug
The No. 5 Plug is unique in that although little surface exploration was done in the past, there are three underground drifts, at varying levels down to 1,000 meters vertical, all of which encountered gold mineralization. The underground workings connect the No. 5 Plug with the past producing Sigma and Lamaque Mines, which have collectively produced over 9 million ounces of grade gold.
At the lowest level, significant mineralization, known as the No. 35 Vein, was discovered outside the granodiorite intrusive "plug". This demonstrates that gold mineralization, although concentrated within these intrusive bodies, is not necessarily limited to only occurring within them, opening up the potential of the surrounding rock.
There is currently no resource estimate for the No. 5 Plug. Current drilling represents the first significant, coordinated exploration program at the No. 5 Plug since 1988. Historic drill results from that period were presented in a previous press release dated October 24, 2012.
The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, P.Eng. and Vice-President of the company, a Qualified Person ("QP") as defined by National Instrument 43-101, Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, P.Eng., Geo. of Géologica Inc., both independent QP as defined by National Instrument 43-101. The Company's QP has reviewed the technical content of this release.
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 accessible.
The Company's focus is to evaluate and enhance gold bearing zones demonstrating the potential to increase existing resources. The Lamaque project currently has an inferred and indicated gold resource of 2,335,530 metric tonnes averaging 6.91 g/t Au for 518,643 ounces ("oz.") Au and 800,799 metric tonnes averaging 6.33 g/t Au for 162,962 oz. Au respectively.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong, CEO & President
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Cautionary Note Regarding Forward-Looking Statements: Certain disclosure 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.
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.