VANCOUVER, BC--(Marketwired - January 07, 2015) - Integra Gold Corp. (TSX VENTURE: ICG) (ICGQF)
Press Release Highlights:
- Intercepts from the Fortune Zone definition drill program confirming the internal continuity of gold mineralization
- Multiple high-grade intercepts reported at the Fortune Zone including:
- FOR-14-01 -- 54.96 grams/tonne gold ("g/t Au") over 0.6 metre ("m")
- FOR-14-09A -- 20.73 g/t Au over 1.0 m
- FOR-14-12 -- 14.53 g/t Au over 2.0 m
- FOR-14-15 -- 19.07 g/t Au over 2.7 m
- FOR-14-16 -- 24.11 g/t Au over 2.5 m
- Significant gold bearing intercepts reported at No. 5 Plug; drill spacing reduced to increase confidence in geological model to permit initial resource estimation
- No. 5 Plug drilling returned multiple narrow but high-grade intercepts including:
- P5-14-02 -- 64.08 g/t Au over 0.5 metre
- P5-14-06 -- 22.41 g/t Au over 1.0 m
- P5-14-08 -- 33.20 g/t Au over 0.8 m
- P5-14-16 -- 17.87 g/t Au over 1.5 m and 29.93 g/t Au over 1.0 m
Integra Gold Corp. (TSX VENTURE: ICG) (ICGQF) ("Integra" or the "Company") is pleased to announce results from its 2014 definition drill program at the Fortune Zone ("Fortune Zone") and exploration drill program at the No. 5 Plug Zone ("No. 5 Plug") at the Lamaque South Gold Project ("Lamaque") located in Val-d'Or, Québec.
"The drill results announced at the Fortune Zone continue to improve our confidence in the Company's geological model, while the drill results from the exploration program at No. 5 Plug demonstrate the ability for Integra to further grow the resource base and continue to discover new deposits on the property," noted Company President and CEO Stephen de Jong. "The No. 5 Plug in particular is within a few hundred meters of the proposed underground infrastructure for the Parallel zone in our existing mine plan meaning any potential resources we are able to define should be relatively simple to access."
Fortune Zone Definition Drill Program
The Company completed 5,771 m of drilling in 22 drill holes as part of the 2014 summer/fall drill program at the Fortune Zone. This program focused on reducing drill spacing in the core of the Fortune deposit while partially testing for extensions of gold mineralization laterally. The Fortune Zone, one of four deposits presently under economic evaluation at the PEA stage on the Lamaque South Project, is located in the northern part of the Lamaque South project.
Selected drill intercepts from holes disclosed today are presented in the following table:
| Drill Hole |
Total
Depth
(m) |
From
(m) |
To
(m) |
Interval
(m)* |
Gold
Assay
(g/t)** |
| FOR-14-01 |
251.93 |
35.90 |
36.50 |
0.60 |
54.96 |
| FOR-14-02 |
201.10 |
44.65 |
48.35 |
3.70 |
7.37 |
| FOR-14-04 |
300.52 |
143.70 |
145.70 |
2.00 |
5.48 |
| FOR-14-07 |
417.51 |
150.50
161.75 |
151.50
162.41 |
1.00
0.66 |
12.93
9.52 |
| FOR-14-08 |
477.92 |
67.00
108.50 |
68.00
110.50 |
1.00
2.00 |
8.32
6.82 |
| FOR-14-09A |
426.07 |
151.50
156.40 |
152.50
157.40 |
1.00
1.00 |
20.73
5.86 |
| FOR-14-11 |
254.12 |
75.50 |
76.00 |
0.50 |
11.47 |
| FOR-14-12 |
259.35 |
189.00
250.30 |
191.00
250.80 |
2.00
0.50 |
14.53
11.99 |
| FOR-14-15 |
252.30 |
70.00 |
72.70 |
2.70 |
19.07 |
| FOR-14-16 |
171.24 |
32.00
39.00 |
34.50
42.00 |
2.50
3.00 |
24.11
6.08 |
| FOR-14-19 |
224.89 |
160.00
170.70 |
161.00
172.20 |
1.00
1.50 |
5.73
13.65 |
| FOR-14-21 |
222.30 |
175.70 |
178.20 |
2.50 |
7.98 |
| FORG-14-01 |
131.49 |
59.25 |
64.00 |
4.75 |
11.19 |
| FORG-14-02 |
110.34 |
65.00 |
69.00 |
4.00 |
7.70 |
*Down-hole thickness, true width varies depending on drill hole dip; most 2014 drill holes are intersecting the vein structures perpendicularly therefore down hole width are close to true width
**1.00 g/t Au cutoff; individual assay values uncut; no minimum thickness
To view a complete table of available composited results for the 2014 drilling at Fortune please click on the following link:
http://www.integragold.com/i/pdf/2014Composites_Compilation_FortuneZone.pdf
To view a location plan map of the drill holes disclosed today please click on the following link:
http://www.integragold.com/i/pdf/Forages-FortuneZ-2014DrillHoleLocationMap.pdf
Summary of Fortune Definition Drilling Program
The Company completed the infill definition drill program for this deposit in the fall of 2014. Drilling focused on decreasing drill spacing to between 25 to 40 m centers while confirming the continuity of gold mineralization within the deposit. The mineralization encountered at Fortune appears to be constrained within two major east-west vertical shear zones approximately 75 m apart. These geological structures are reminiscent of the gold mineralization setting present at the historic Sigma Mine, which produced more than 4.5 million ounces of gold and was recently acquired by Integra. At the neighboring Sigma Mine, located 500 meters from Lamaque, major flat to northerly dipping mineralized veins are present and are often constrained by sub-vertical shear zones.
No. 5 Plug Exploration Drill Program
The Company completed 4,338 m of drilling in 17 drill holes as part of the 2014 fall drill program at the No. 5 Plug. The goal of this program was to evaluate the lateral continuity of reported intercepts from the 2012 program on that plug (see press release dated January 30, 2013 and February 26, 2013) and reduce drill spacing to between 50 to 75 m centers for near surface zones, defined as 0 to 300 m vertical. The No. 5 Plug is located in the northern part of the Lamaque South project, only a few hundred meters south of the recently acquired Sigma Mill.
Selected drill intercepts from holes disclosed today are presented in the following table:
| Drill Hole |
Total
Depth
(m) |
From
(m) |
To
(m) |
Interval
(m)* |
Gold
Assay
(g/t)** |
| P5-14-01 |
221.96 |
24.00 |
33.50 |
9.50 |
4.59 |
| P5-14-02 |
291.13 |
77.45
80.50
83.00
274.00 |
79.00
81.00
83.50
274.50 |
1.55
0.50
0.50
0.50 |
7.85
10.76
28.86
64.08 |
| P5-14-03 |
282.00 |
23.50
64.75 |
24.00
65.25 |
0.50
0.50 |
16.43
20.30 |
| P5-14-06 |
257.94 |
47.00 |
48.00 |
1.00 |
22.41 |
| P5-14-07 |
354.96 |
58.00
178.50 |
58.50
179.20 |
0.50
0.70 |
19.10
12.83 |
| P5-14-08 |
239.54 |
137.00
177.70 |
144.20
178.50 |
7.20
0.80 |
3.06
33.20 |
| P5-14-09 |
301.36 |
102.80
174.00 |
103.30
176.00 |
0.50
2.00 |
21.62
8.23 |
| P5-14-11 |
350.96 |
55.00 |
56.00 |
1.00 |
13.96 |
| P5-14-12 |
240.44 |
106.00 |
106.50 |
0.50 |
14.13 |
| P5-14-16 |
152.07 |
41.00
73.00
85.00
132.80 |
42.50
74.00
85.50
133.50 |
1.50
1.00
0.50
0.70 |
17.87
29.93
19.16
15.70 |
*Down-hole thickness, true width varies depending on drill hole dip; most 2014 drill holes are intersecting the vein structures perpendicularly therefore down hole width are close to true width
**1.00 g/t Au cutoff; individual assay values uncut; no minimum thickness
To view a complete table of available composited results for the 2014 drilling at No. 5 Plug please click on the following link:
http://www.integragold.com/i/pdf/2014CompositesCompilation-Plug5.pdf
To view a location plan map of the drill holes disclosed today please click on the following link:
http://www.integragold.com/i/pdf/Forages-FortuneZ-2014DrillHoleLocationMap.pdf
Summary of No. 5 Plug Exploration Drilling Program
The No. 5 Plug drill program, completed in the fall of 2014, was undertaken to expand the successful drill campaign completed on No. 5 Plug in late 2012. While drill holes are widely spaced and additional drilling is likely required to further define the zones, multiple narrow, high grade veins were successfully intercepted. Vein intercepts seem to have lateral and dip extensions that extend in some cases greater than 100 m from the primary area of mineralization. Identified mineralized structures also appear to dip from 15 to 40 degrees to the south with some vein stacking occurring.
The narrow high grade "flat" vein structures prevalent at No. 5 Plug are very similar to the vein arrays that were historically mined at the neighboring Sigma Mine, some of which occur only 250 m north of the No. 5 Plug on the acquired Sigma-Lamaque property.
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 Person
The Lamaque South exploration project and Sigma-Lamaque Milling Complex and Mines 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 project including insertion of duplicate, blank and standard samples in all drill holes. The core samples are submitted directly to Bourlamaque Lab 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 all samples containing visible gold. When available the gravimetric or metallic sieve assay results are used for the reported composite intervals.
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, and timing of completion of an updated PEA. 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.