SOURCE: Integra Gold Corp.

Integra Gold Corp

January 19, 2016 10:44 ET

Integra Gold Reports Multiple High-Grade Gold Intersects Including 209.28 g/t Gold Over 1.5 Meters in C1 Structure, and 51.78 g/t Gold Over 4.3 m in C5 Structure at Triangle Deposit

VANCOUVER, BC--(Marketwired - January 19, 2016) -

Press Release Highlights:

  • Significant high grade gold mineralization was reported in infill drilling on the C1 structure at relatively shallow depths from surface confirming the continuity of that zone with uncut intercepts including 209.28 g/t Au over 1.5 metres ("m") in hole TM-15-061 (average 34.3 g/t Au when samples capped at 34.3 g/t), 45.97 g/t Au over 1.0 m in hole TM-15-056 (average 21.79 g/t Au when capped at 34.3 g/t Au) and 12.90 g/t Au over 3.2 m in TM-15-050 (same average when capped at 34.3 g/t Au); all reported thicknesses are downhole widths.
  • Results from step-out drilling conducted on the steeply dipping C5 mineralized structure at Triangle (structurally below the Main C4) appear to extend the known limits of the structure up to 250 m further east of previously reported intercepts with mineralization grading 5.64 g/t Au over 2.5 m (downhole width) reported in TM-15-053; high grade intercepts of 51.78 g/t Au over 4.3 m were also reported from infill drilling (TM-15-068) of that same structure (when capped at 34.3 g/t Au the average grade of this intercept is 16.88 g/t Au).
  • Preliminary results for one hole drilled on the C4 structure 75 m east of the November 2015 resource envelope limits, TM-15-064, demonstrates the potential for significant resource expansion on the C4 structure with a reported intercept of 6.42 g/t Au over 4.9 m; results are partial for this hole with the last available assayed intervals returning 4.36 g/t Au with results for the last 350 m of sampled core still pending.

Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF) ("Integra" or the "Company") is pleased to announce the second round of assay results from its fall 2015 / winter 2016 drill program on the Triangle deposit ("Triangle") on the Lamaque South Gold Project ("Lamaque") located in Val-d'Or, Québec.

"These impressive new results from the ongoing exploration program at Triangle are significant as they demonstrate the potential for high grade gold mineralization to extend well beyond the previously disclosed resource boundary limits. Significant and at times spectacular high gold grades are now also being reported in the infill drilling, a situation reminiscent of the historical Lamaque and Sigma Mine grade distribution patterns which often presented outstanding gold grades and localized areas hosting abundant free gold," commented Company President and CEO, Stephen de Jong. "The bulk of the Triangle zone remains hosted within a series of sub-parallel, steeply-dipping and stacked C structures, displaying a high degree of periodicity, with additional zones interpreted to occur at depths beyond the presently known limits of the deposit. In our view, all of the known C structures remain open for expansion. In the short term, we are also awaiting further results from deeper holes that are designed to test the extents of gold mineralization beyond the 1,000 m vertical elevation mark."

Triangle Gold Deposit Drill Results

Drilling conducted during the Fall 2015 campaign at Triangle focused on widely spaced step-out and extensional drilling of the C4/C5/C6 structures and on infill drilling within selected areas of the C1 and C2 structures. Characteristic geological host units and alteration assemblages associated with gold bearing veins present within the structures were observed in most drill holes, similar to those reported in previous news releases. The Company's geological model continues to demonstrate the predictive nature of these high grade gold bearing structures, further highlighting the potential for additional gold bearing horizons to exist at depth and on-extension.

The table below highlights selected results from the drilling conducted on the C4 and C5 structures and of infill drilling of the C1 and C2 structures.

Drill Hole #
From (m)
To (m)
Interval (m)(2)
Gold Assay (g/t) (3)
Interpreted Zone
TM-15-050(1) 286.80
296.00
290.00
297.00
3.20
1.00
12.90
14.12
C1
?
TM-15-053 892.30 894.80 2.50 5.64 C5
TM-15-056 283.50 284.50 1.00 45.97 C1
TM-15-056W01 283.50 284.60 1.10 6.95 C1
TM-15-060 222.90 223.60 0.70 30.27 C1
TM-15-061 291.35 292.80 1.45 209.28 C1
TM-15-064(1) 748.00 752.90 4.90 6.42 C4
TM-15-068 140.90
333.80
337.70
757.50
784.50
806.70
816.50
840.00
142.40
336.00
338.70
758.00
786.00
811.00
820.50
841.50
1.50
2.20
1.00
0.50
1.50
4.30
4.00
1.50
6.16
6.03
10.43
23.95
14.22
51.78
6.13
5.91
C1
C2
C2-50
?
?
C5
?
?
  1. Results from significant intervals are still missing for those holes: for TM-15-050 results are pending from 574.4 to 1,022.9 m down-hole and for TM-15-064 results are pending from 752.9 to 1,092 m down-hole. One additional hole not listed above but included in the global assay table, TM-15-063A, have pending assay for its intervals between 105 and 784 m.
  2. Down-hole thickness; true width varies depending on drill hole dip; most 2015 drill holes were aimed at intersecting the vein structures close to perpendicular therefore true width are close to down hole width (approximately 75% to 85% ratio).
  3. 1.00 g/t Au cut-off; individual assay values uncut (follow link to full assay table for interval with individual cut values at 34.3 g/t Au); no minimum thickness considered.

Click on the following link to view a complete table of available composited results for the fall 2015 drilling at Triangle:

http://www.integragold.com/i/maps/2015_Composites_Compilation_Triangle_Fall_NR_19-01-2015.pdf

Click on the following link to view longitudinal sections of the C1, C4 and C5 structures:

http://www.integragold.com/i/maps/C1-C4-C5-Longsection-(js-edit).pdf

A total of 93,592 m in 203 holes was completed at Lamaque South in 2015 of which 59,753 m in 104 holes was conducted at Triangle. A major drill campaign is underway with 7 drill rigs currently in operation. The Company expects to drill approximately 90,000 m in 2016 with the majority of this drilling aimed at defining and expanding the gold resources at Triangle. The results announced today are from an additional 13 drill holes totalling 5,955 m. As of January 18, 2016, drill results are still pending from an additional 25 holes representing 14,650 m. Results from ongoing infill and extensional drilling at Triangle will be disclosed during the year as they become available.

As some of these assays represent only partial sections of complete drill holes with further assays pending, follow-up analysis and interpretation will continue as further results become available.

2016 Drilling Program

The 2016 drill program at Lamaque is currently on-track to complete approximately 90,000 m of diamond drilling over the course of the next 12 months. The bulk of the drill program will be completed during the winter months. Seven drill rigs are currently active on the project. Integra's planned 2016 drill campaign remains one of the largest drill programs underway in the Canadian mining industry at this time.

The ongoing winter drill program includes exploration, extensional drilling, and definition drilling on numerous key targets such as Triangle and the No. 4 Plug deposit. The program will also include exploration drilling of promising new targets outlined in 2015 in geophysical surveys, geological mapping, surface sampling and reconnaissance drilling conducted last year; additional information on these new targets will be provided by the Company in follow-up news releases this year.

Project and Company Profile

Integra's Lamaque South Gold Project and Sigma-Lamaque Mill and Mine Complex are located directly east of the city of Val-d'Or along the prolific Abitibi Greenstone belt in the Province of Québec, Canada. Québec is rated one of the best mining jurisdictions in the world. Given the location of the project, near the city of Val-d'Or, infrastructure, human resources and mining expertise are readily available.

The Company's primary focus is its high-grade Lamaque South project. Lamaque South property is divided into three clusters, the North, South and West clusters. The primary targets are the high-grade Triangle and No. 4 Plug deposits in the South Cluster and the Parallel deposit in the North Cluster.

The Sigma Mill, a fully permitted 2,200 ton per day mill and tailings facility which was acquired by Integra in 2014, is located 1 kilometre from the Parallel deposit and 3 kilometres from the Triangle deposit. The Sigma-Lamaque Mill and Mine Complex include the historic Sigma and Lamaque Mines which operated for 75 and 52 years respectively and produced more than 9 M ounces of gold in total.

Qualified Person

The Lamaque South exploration project and Sigma-Lamaque Mill and Mine Complex, jointly known as the Lamaque project, are 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 Laboratory 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. Metallic sieve assay is conducted, additional to the regular fire assay methods, for all samples containing visible gold. Results published are from the metallic sieve assay results is available, if not they are from the gravimetric finish if above 5 g/t and from the AA finish if lower than 5 g/t.

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: C ertain 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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