VANCOUVER, BC –(Marketwired – June 08, 2016) – Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF)
Press Release Highlights:
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF), (“Integra” or the “Company”) is pleased to announce additional assay results from its Fall 2015/Winter 2016 drill program on the Triangle deposit (“Triangle”) situated on the Lamaque South Gold Project (“Lamaque”) in Val-d’Or, Québec. In addition to an extensive surface drill program the Company is in the final stages of preparing for its first ever underground exploration program at Triangle with the initial blasting scheduled to commence later this month.
“Today’s results continue to show both strong mineralization continuity and exciting resource growth potential within the C-type structures at the Triangle deposit. Step out hole TM-15-018 announced today in addition to the other recent drill results have opened up the western portion of the C4 structure. The C4 structure already accounts for approximately 40% of the Triangle deposit’s resource,” commented Company President and CEO, Stephen de Jong. “In addition to this we are continuing to see both the C1 and C2 structures grow which is encouraging as they will make up the first phase of any contemplated mining scenario at Triangle.”
To view a cross section of the Triangle deposit which includes links to long sections of each of the C structures discussed in today’s release please click on the following link:
C4 Drilling Continues to Expand Mineralization
Results disclosed today include intercepts within C4, the largest, high-angle structure at Triangle, which continue to demonstrate the potential for growth with an interval grading 33.55 grams per tonne gold (“g/t Au”) over 3.2 m (15.91g/t Au when cap at 34.3 g/t Au, downhole width) on the western edge of that structure at a depth of 605 m vertical.
As illustrated in the attached vertical longitudinal section of the C4 structure (see link below), additional results are pending from a minimum of 6 drill holes testing the western extension of that structure, 100 to 150 m west from previous drilling. Visual observations of those holes indicate that the structure is still open to the west with varying amounts of mineralization.
Click on the link below to view the C4 long section. Please note, square intercepts on the long section represent drill holes included in the November 2015 resource estimate while circular intercepts represent drill holes completed after the data base cut-off (July 30, 2015) for the November 2015 resource estimate. All results on long sections are true width and may differ slightly in length when compared to the drill table below.
Continuity and Resource Growth Potential for the C1 and C2 Structures
The C1 and C2 structures host the majority of the gold mineralization for the upper portion of Triangle. Today’s results are significant as high grade gold mineralization continues to be identified at relatively shallow depths (above 475 m vertical). These results both confirm the continuity of these upper zones as well as show the potential for near-surface lateral resource expansion along strike.
Intercepts disclosed today include the following significant results in both the C1 and C2 structures (downhole widths, intercepts uncapped – refer to table below for capped results):
In the C1 structure:
In C2 structure:
Significant results are also reported in shallower dipping C-Flat structures between the high angle C2 and C3 structures:
As illustrated in the longitudinal sections for C1 and C2 (see link below), results from numerous intercepts in these structures are still pending:
C1 long section: http://www.integragold.com/i/pdf/LS-C1-URLDDH-2016-06-09.pdf
C2 long section: http://www.integragold.com/i/pdf/LS-C2-URLDDH-2016-06-09.pdf
Additional C Structure (C7) Identified at depth
Ongoing interpretation of drilling completed since August 2015 has confirmed the presence of an additional sub-parallel, high angle C-Type shear structure located 150m structurally below the C6 zone. The C7 structure remains open in all directions and presently extends from a depth of 975 m to 1,150 m vertical. Results from additional holes drilled below 1,150 m vertical are pending.
Results from this new zone include:
Click on the link below to view the C7 long section:
High-Grade Mineralization identified between C-Type Structures
In addition to the mineralization identified in the primary C and C-Flat structures, high grade gold bearing intercepts continue to be identified between the well-defined C structures, demonstrating the possibility for additional mineralized structures to occur. These new mineralized zones represent additional resource upside which will be fully evaluated once underground access is completed.
Uncapped results include the following (all downhole widths, refer to assay table for capped results):
Click on the following link to view an idealized cross section of Triangle and No. 4 Plug:
Triangle Drill Results Summary
The table below highlights selected results from this tranche of drill results, link to full table below:
|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 width are close to down hole width (approximately 85% conversion ratio); true width of C structures intercepts are presented on longitudinal sections.|
|(2)||For known mineralized zones, intervals are based on geological observation, i.e. on the amount of quartz veining using a minimum 2m true thickness. For other intersections, a 1.00 g/t gold cut-off is used for compositing; individual composites are presented uncap and cap (when applicable) with individual values capped 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 and winter 2016 drilling at Triangle (drill holes disclosed today are identified in red font).
Triangle Deposit Summary
Triangle is made up of a series of high-grade, parallel, steeply to moderately dipping mineralized “C” structures structurally spaced at 100 to 150 m, which host the majority of the Triangle deposit’s gold resources. The C1 and C2 structures occur from surface to 300 m and 475 m vertical respectively. The C4, C5, C6 structures occur between 320 m and 875 m vertically, and the newly discovered C7 structure is presently known to extend from at least 975 m to 1,150 m vertically. The lateral and down-dip limits of mineralization for almost all of the Triangle C structures have yet to be identified.
Drilling conducted since August 2015 at Triangle has focused on infill and step-out/extensional drilling within selected areas of the C1, C2, C4, C5 and C6 structures, and on deep testing of the Triangle deposit below 1,000 m vertically. Characteristic geological host units and alteration assemblages associated with gold bearing veins present within the structures were observed in most drill holes to date. Ongoing results continue to demonstrate the validity of the predictive nature of the geological model and associated high grade gold bearing vein structures.
Lamaque Project Exploration Program Summary
A total of 93,592 m in 203 holes was completed at Lamaque in 2015 of which 59,753m in 104 holes was conducted at Triangle. In 2016 a total of 75,900 m in 197 drill holes have thus far been completed at Lamaque South. Drilling is ongoing with 4 drill rigs currently in operation.
The results announced today are from 9 drill holes representing 4,400 m. As of June 1, 2016 drill results are still pending from an additional 179 drill holes at Lamaque representing 73,140 m; for the Triangle deposit alone there are pending results for 150 drill holes representing 57,220 m. Results will continue to be disclosed regularly as they become available.
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 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 exploration potential, this acquisition removed major costs and shortened timelines typically associated with mine projects. With a current market capitalization of approximately $300 million, Integra has raised over $100 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 recently named to the TSX Venture top 50 performers in 2015 and the OTCQX Best 50 award for 2015.
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 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: 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.