SOURCE: Integra Gold Corp.

Integra Gold Corp.

May 23, 2017 06:30 ET

Integra Gold Reports Infill Drill Results in Bulk Sample Area in Upper C2 Structure, Including 19.33 g/t Gold over 11.80 Metres

VANCOUVER, BC--(Marketwired - May 23, 2017) - Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF)

Press Release Highlights:

  • Results from the C2 structure ("C2") close-spaced infill drill program in the bulk sample area include:
    • 14.14 g/t gold ("Au") over 4.90 metres ("m") (8.31 g/t Au capped at 34.3 g/t Au, 4.32 m in true thickness)
    • 19.33 g/t Au over 11.80 m (9.23 g/t Au capped at 34.3 g/t Au, 10.48 m in true thickness)
    • 14.43 g/t Au over 7.30 m (12.15 g/t Au capped at 34.3 g/t Au, 6.05 m in true thickness)

  • Drill results from the C4 structure ("C4") at the Triangle Deposit include:
    • 14.36 g/t gold ("Au") over 4.85 m (unchanged when capped at 34.3 g/t Au, 3.77 m in true thickness)
    • 7.42 g/t Au over 10.30 m (6.87 g/t Au capped at 34.3 g/t Au, 9.17 m in true thickness)

  • To date, 1,227 m (20 drill holes) of the planned 10,000 m, close-spaced underground definition drill program has been completed. The drilling is occurring within the proposed C2 bulk sample target area and is designed to further define the area for bulk sampling which should start in June 2017.

  • The main ramp at the Triangle Deposit has advanced 938 m (1,522 m total when including secondary development); the ramp is currently progressing in the footwall of the C2 Zone, adjacent to the bulk sample target area.

Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF), ("Integra" or the "Company") is pleased to announce the first set of drill results from its underground infill drill program at the Triangle Deposit ("Triangle") situated on the Lamaque Gold Project ("Lamaque") in Val-d'Or, Québec. The objective of the 10,000 m underground drill program is to define and demonstrate through close spaced drilling the continuity of the gold-bearing structures within the proposed area of the C2 Zone selected for the bulk sample. The drill results announced today are from 7,265 m of drilling (48 drill holes) completed at Triangle in 2017, including both underground and surface drilling. Results are currently pending from over 13,920 m (53 drill holes) of diamond drilling completed at Lamaque in 2017.

Infill Drilling on the C2 Structure Continues to Intersect High-Grade Mineralization within the Selected Bulk Sample Target

The bulk sample target within C2 was initially drilled from surface at approximately 20 m to 25 m centers. The objective of that drill program was to define the continuity and geometry of the gold-bearing structures. In April 2017, underground drill bays were completed at the 76 level and 94 level (vertical depth from surface), allowing for the commencement of drilling from underground at Triangle. The 10,000 m underground drill program now underway will further decrease drill spacing to 10 m by 10 m centers within the selected area for the bulk sample.

Drilling at 10 m by 10 m centers will provide valuable information for bulk sample planning. The drill spacing will aid in the selection of crosscut locations and future "in-mineralization" drifting.

The following table highlights selected intercepts from this set of drill results. Additional results for drill holes disclosed today can be found at the link below. Individual composites are disclosed both uncapped and capped (when applicable) with individual values capped at 34.3 g/t Au.

                   
Drill Hole Number  From
(m)
 To
(m)
 Downhole
Interval
(m)
 True
Thickness
(m)
 Gold
Assay
(g/t)
 Interpreted
Zone
TU-17-005  50.00
Capped
 52.20
 2.20
 2.02  16.23
14.00
 C2
TU-17-006  37.50
Capped
 40.00
 2.50
 2.39  23.53
19.18
 C2
TU-17-007  51.00
Capped
 55.90
 4.90
 4.32  14.14
8.31
 C2
TU-17-009  44.90
Capped
 56.70
 11.80
 10.48  19.33
9.23
 C2
TU-17-014  47.20  61.30  14.10  9.36  8.88  C2
TU-17-015  44.15  47.30  3.15  2.02  10.55  C2
TU-17-031  43.20
Capped
 50.50
 7.30
 6.05  14.43
12.15
 C2
TU-17-032  34.70  37.00  2.30  2.09  8.45  C2
TU-17-034  44.00
50.60
 48.60
54.40
 4.60
3.80
 3.67
2.98
 10.01
13.64
 -
C2
TU-17-035A  34.00  36.20  2.20  2.02  8.67  C2

Selection of mineralized intervals are based on geological observations, mainly on the amount of quartz-tourmaline-sulfide veining, and on a 1.00 g/t Au cut-off for compositing; composited intervals are presented uncapped and capped (when applicable) with individual values capped at 34.3 g/t Au; no minimum thicknesses considered.

As illustrated in the two longitudinal sections for C2 (see links below), results from multiple intercepts are still pending. The second longitudinal section is a close-up view of the bulk sample area.

C2 longsection:
http://www.integragold.com/site/assets/files/2328/ls_c2-prls_20170523.pdf

C2 longsection - bulk sample area:
http://www.integragold.com/site/assets/files/2331/ls_c2_bulksample20170523.pdf

To view the assay results table for drill holes released today please click on the following link:
http://www.integragold.com/site/assets/files/2332/2017_composites_may232017.pdf

Additional Results from the C4 Structure Continue to Support Resource Conversion

In addition to results from the underground drill program at C2, the Company is also completing an expanded surface drill program at Triangle. The surface drill program includes both infill drilling and expansion drilling. The drill results announced today are from infill drilling at C4 aimed at converting inferred resources to indicated resources. The results continue to support both the geological model and the potential for resource conversion and additional growth at C4. Available results include the following (see link to full table above for additional details):

                   
Drill Hole Number  From
(m)
 To
(m)
 Interval
(m)
 True
Thickness
(m)
 Gold
Assay
(g/t)
 Interpreted
Zone
TM-14-019W01M02*  497.30  503.00  5.70  4.97  5.29  C4
TM-15-008W01M01*  763.00  767.85  4.85  3.77  14.36  C4
TM-15-009W01M02*  740.20
Capped
 750.50
 10.30
 9.17  7.42
6.87
 C4
TM-16-009W01M01*  675.00  678.50  2.50  2.25  5.04  C4
TM-16-159W01M01  675.00  678.50  3.50  3.22  5.64  C4

As illustrated in the longitudinal sections for C4 (see link below), numerous drill results are still pending.
http://www.integragold.com/site/assets/files/2329/ls_c4-prls_20170523.pdf

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 $150 million since 2013, at successively higher share prices, despite depressed gold prices. In May 2017, Eldorado Gold Corporation announced it has entered into a definitive agreement pursuant to which Eldorado Gold Corporation has agreed to acquire all of the issued and outstanding common shares of Integra that it does not currently own (see Company news release dated May 14, 2017).

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 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. 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 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. 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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