SOURCE: Integra Gold Corp.

Integra Gold Corp

January 28, 2015 07:30 ET

Integra Gold Mobilizes Four Drill Rigs, Outlines 50,000 Meter Drill Program for 2015

VANCOUVER, BC--(Marketwired - January 28, 2015) -

Drill Program Highlights

  • Total 2015 drill plan of approximately 50,000 meters ("m")
  • Up to 35,000 m of drilling to be completed this winter (January to April) with up to 7 drill rigs
  • Proposed drill plans include resource expansion, new target development, and condemnation drilling at multiple targets
  • Roth Capital Partners, LLC will serve as Integra Gold's Principal American Liaison ("PAL") on OTCQX

Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF) ("Integra" or the "Company") is pleased to announce that it has commenced a 50,000 meter drill program at its Lamaque Gold Project (the "Lamaque Project") in Val-d'Or, Québec, Canada. The Company currently has four diamond drill rigs active on the property, and expects to have up to 7 drill rigs operating in the coming weeks.

"We are excited to announce the commencement of the largest exploration campaign we have undertaken at Lamaque. Drilling will focus on expanding resources in known zones as well as targeting multiple geophysical and geological anomalies on the property, a number of which have never been tested," commented Company President and CEO, Stephen de Jong.

2015 Drilling Program

The Company's proposed 2015 drill program entails more than 50,000 m of drilling in approximately 120 drill holes. The 2015 program will utilize up to seven drill rigs during the winter months and an estimated two drill rigs during the summer and fall months. The proposed targets and meterage for the upcoming year are as follows:

  
Triangle Zone extension drilling:20,000 m
No. 3 Mine definition drilling:6,500 m
No. 6 Vein definition and extension drilling:7,500 m
Plug No. 4 South extension drilling:4,000 m
Parallel Zone ramp condemnation drilling:1,500 m
North Flats Vein exploration drilling:5,000 m
New target exploration drilling:5,500 m
  

In addition to the drilling announced today, the Company will also use one additional drill rig to continue cementation of previously drilled holes. Drill hole cementation is part of the preparation process for potential underground exploration and development.

For a map detailing the location of the main targets discussed in this press release please click on the following link:

http://www.integragold.com/i/pdf/2015-01-27_NR-map.pdf

Triangle Zone Drilling

The Triangle Zone will be the main drill target in 2015, with drilling focused on testing the lateral extensions of mineralization to the east, west and south. To the east of Triangle, drilling will focus on targets that remain open in the vicinity of the 2014 drill program which intersected multiple high grade mineralized zones, including 14.23 grams per tonne Gold ("g/t Au") over 11 m in TM-14-32 (see press release dated May 21, 2014).

Drilling to the west of Triangle will further test areas targeted during the 2014 condemnation drilling for the proposed Triangle ramp access, which intersected gold mineralization grading up to 101.85 g/t Au over 1.6 m in TMC-14- 10 (see press release dated December 02, 2014).

To the south of Triangle, the Company intends to continue testing extensions of gold mineralization hosted in volcanic units. Drilling in the southern volcanics hosted within the Triangle Zone during 2014 returned significant assays, including 23.02 g/t Au over 5 m in TM-14-03A (see press release dated March 25, 2014).

Additional Targets

Additional targets scheduled for definition and expansion drilling include the No. 6 Vein, which was included in the 2014 mineral resource update, but not included in the Preliminary Economic Assessment ("PEA"), and contains 79,550 ounces of gold indicated (245,200 tonnes grading 7.8 g/t Au) and 24,590 ounces of gold inferred (93,400 tonnes grading 7.4 g/t Au) (see press release dated January 28, 2014). The Company will also be conducting drilling at its No. 3 Mine target, where a resource estimate has yet to be completed; however, past results include grades of up to 32.32 g/t Au over 3.0 m (see press release dated November 26, 2013). Resources estimates from both of these zones are not included in the resource base used in the recently disclosed Preliminary Economic Evaluation (see press release dated January 13, 2015).

2015 drilling will also include initial testing of a vein array suite of "flat veins" situated on the boundary between the Lamaque South project and the recently acquired Sigma-Lamaque property. Mining on the Sigma-Lamaque property was stopped in 2012 by its previous operator, Century Mining Corporation. An initial review of sections and level plans from the existing Sigma-Lamaque data indicates that these high grade "flat veins" extend across the boundary on to the Lamaque South Project itself, extending into areas with a close proximity to planned mine workings proposed in the Company's recently released PEA (see press release dated January 13, 2015). This target is located a few hundred meters north of the No. 5 Plug zone and is accessible via underground workings at Sigma-Lamaque.

The remaining meterage for 2015 will be used for definition drilling at the No. 4 Plug, condemnation drilling at the proposed Parallel Ramp, and exploration drilling of isolated high magnetic "bull's-eye" targets identified throughout the property. The high magnetic anomalies are known to correlate well with known intrusives, or "plugs," hosting gold deposits in the area including the historic Lamaque Main Plug mine, which produced over 4.5 million ounces of gold.

OTCQX PAL

Roth Capital Partners, LLC will serve as Integra Gold's PAL on the OTCQX exchnage, responsible for providing professional guidance on OTCQX requirements.

Project and Company Profile

Integra's Lamaque South Gold Project and Sigma-Lamaque Milling Complex and Mines are located directly east from the city of Val-d'Or along the prolific Abitibi Greenstone belt 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 focus is on production planning for its high-grade Lamaque South project. The Lamaque South property is divided into three clusters, the North, South and West cluster. The primary targets are the high-grade Parallel Zone in the North Cluster and the Triangle Zone in the South Cluster. The acquired Sigma Mill, located 1 kilometer from the Parallel Zone and 3 kilometers from the Triangle Zone, is a fully-permitted, 2,200 ton per day mill and tailings facility. The Sigma-Lamaque Mill and Mining Complex include the historic Sigma and Lamaque Mines which operated for 75 and 52 years respectively and produced more than 9 million ounces of gold in total.

Qualified Persons

The Lamaque South exploration project and Sigma-Lamaque Milling Complex and Mines, jointly known as the Lamaque project, are 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 Persons ("QP") as defined by National Instrument 43-101, and Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., Geo. of Géologica Inc., both independent QPs as defined by National Instrument 43-101. The Company's QPs have approved the scientific and technical content of this release.

Quality Assurance - Quality Control ("QA/QC")

Thorough QA/QC protocols are followed on the Lamaque Project including insertion of duplicate, blank and standard samples in all drill holes. The core samples are submitted directly to ALS Laboratory Group and Bourlamaque Labs 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.

The Company's QPs have also reviewed and approved the scientific and technical content of this press release.

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: 
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained on this presentation. This news release contains "forward-looking information" concerning Integra Gold Corp.'s ("Integra" or the "Company") future financial or operating performance and other statements that express management's expectations or estimates of future developments, circumstances or results. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "seeks", "believes", "anticipates", "plans", "continues", "budget", "scheduled", "estimates", "expects", "forecasts", "intends", "projects", "predicts", "proposes", "potential", "targets" and variations of such words and phrases, or by statements that certain actions, events or results "may", "will", "could", "would", "should" or "might" "be taken", "occur" or "be achieved". Forward-looking statements included in this news release include statements regarding the proposed mining scenario for the Lamaque Project, including information with respect to the expected economic results of the Lamaque Project (including rates of return, payback period and the NPV of the Lamaque Project), estimated capital expenditures and other costs to develop the site, the expected values of gold for the life of the project, rates of development and production, potential mineralization and mineral resources, information with respect to supporting infrastructure, the potential life of mine, rates of employment and the effects of steps taken to mitigate local impacts and the expected completion dates of exploration and drilling, exploration results, estimated and future exploration and administration expenditures, the completion of a feasibility studies, and future plans and objectives of Integra. While all forward-looking statements involve various risks and uncertainties, these statements are based on certain assumptions that management of Integra believes are reasonable, including that it will be able to obtain financing and on reasonable terms, that the PEA will prove to be materially accurate, that its current development and other objectives can be achieved, that its development, exploration and other activities will proceed as expected, that its community and environmental impact procedures will work as anticipated, that general business and economic conditions will not change in a material adverse manner, that Integra will not experience any material accident, labour dispute or failure or shortage of equipment, and that all necessary government approvals for its planned development and exploration activities will be obtained in a timely manner and on acceptable terms. There can be no assurance that the forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Integra's expectations include, among others, the actual results of development activities being different than those anticipated by Integra, changes in project parameters as plans continue to be refined, changes in estimated mineral resources, future prices of metals, increased costs of labor, equipment or materials, availability of equipment, failure of equipment to operate as anticipated, accidents, effects of weather and other natural phenomena, risks related to community relations and activities of stakeholders, and delays in obtaining governmental approvals or financing. Although Integra has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Integra 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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