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Misc Document Template
P.O Box 11144, Royal Centre
#2270 -1055 West Georgia Street Vancouver, BC Canada, V6E 3P3 Email: [email protected]
FOR IMMEDIATE RELEASE TSX-V: ICG; OTCQX: ICGQF
Integra Gold Announces Triangle Zone Resource Estimate: Indicated Resources Increase 21% to 627,810 Gold Ounces and Inferred Resource Increases 400% to 871,530 Gold Ounces
Press Release Highlights:
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Triangle Zone Indicated resources increased 21% from 520,630 gold ('Au') ounces to 627,810 Au ounces at an average grade of 7.37 grams/tonne ('g/t') Au (3.0 g/t Au cut-off grade)
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Triangle Zone Inferred resources increased 400% from 174,470 Au ounces to 871,530 Au ounces at an average grade of 6.89 g/t Au (3.0 g/t Au cut-off grade)
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Lamaque South total Indicated resources (includes Triangle, Parallel Zone, No. 6 Vein, No. 4 Plug, Sixteen Zone and Fortune Zone) increased 10% to 1,164,600 Au ounces at an average grade of 6.78 g/t Au (3.0 g/t Au cut-off grade)
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Lamaque South total Inferred resources increased 211% to 1,028,050 Au ounces at an average grade of 7.03 g/t Au (3.0 g/t Au cut-off grade)
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Excellent potential for extension remains both laterally and at depth at Triangle, with individual zones including the steeply dipping 'C' type structures remaining open laterally and at depth, and on other projects within the Lamaque South and Sigma-Lamaque properties
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Seven drill rigs currently active at the Triangle Zone drilling 8,000 to 10,000 meters per month
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27,815 m of new drilling included in Triangle resource; over 17,000 m already completed at Triangle since resource database closed, drill results are pending
Integra Gold Corp. (TSX-V: ICG, OTCQX: ICGQF) ('Integra' or the 'Company') is pleased to announce that it has completed a new mineral resource estimate on its Triangle gold deposit ('Triangle' or the 'Triangle Zone') at its 100% owned Lamaque South Gold Project ('Lamaque South'), part of the larger Lamaque Gold Project located in Val-d'Or, Québec. The Triangle Zone is located 2.5 km southeast of the city of Val-d'Or and is the largest and highest grade deposit at Lamaque South. There are currently seven drills active at the Triangle Zone and the adjacent No. 4 Plug target.
Resource Overview
The extensive winter 2015 drill program completed at Triangle has substantially increased the Company's understanding of the geology of the deposit and has led to a refinement of a number of key resource estimation parameters, relative to previously used resource estimation parameters. These refinements are based on, but not limited to, the following:
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An additional 27,815 m of drilling, primarily in the form of drill-hole step-outs which has led to a substantial increase in the amount of inferred resources. Infill and step-out drilling of these zones is now underway with over 17,000 m completed since the database cut-off date for this new resource estimate;
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Inclusion of the steeply dipping 'C' structures (average true thickness between 2.5 and 4.1 m, up to 11 m), not recognized in previous resource models and estimates due to a lack of drill information (see below Discovery and Evolution of Steep 'C' Structures within Triangle Zone); and,
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At 3 g/t Au cut-off, 11 and 23% decrease in average Indicated and Inferred grade, respectively, compared to previous resource estimates as a direct result of a more rigorous grade capping methodology (equivalent to a 30.0 - 40.0 g/t hard cap on composites) (see below Grade Variance and Sensitivity Analysis to Previous and Current Capping/Calculation Methods)
Triangle Zone Resource Estimate
(3.0 g/t, 4.0 g/t, and 5.0 g/t Au cut-off grades) (1)(2)
Cut-off Grade (g/t Au)
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Indicated
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Inferred
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Tonnes
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Grade (g/t Au)
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Ounces (Au)
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Tonnes
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Grade (g/t Au)
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Ounces (Au)
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3.0 g/t
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2,648,000
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7.37
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627,810
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3,934,700
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6.89
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871,530
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4.0 g/t
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2,102,500
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8.38
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566,560
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3,055,200
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7.88
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773,940
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5.0 g/t
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1,664,800
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9.41
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503,420
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2,384,200
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8.83
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676,960
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Specific gravity of 2.8 g/cm3; capping of 20 g/t on composites when estimated cells are >15 m from drill hole (composites are 1m true thickness); considered intersection are 2 m minimum true thickness (if required, diluted with in situ grade when assay results are available otherwise diluted with 0 grade)
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Triangle Zone Resource disclosed at three cut-offs to reflect various mining methods as multiple cut-offs may be used in future economic evaluations (January 2015 PEA: 1.14 USD:CAD, US$1175 / ounce Au (CAD$1340 / once Au), 4.0-4.5 g/t cut-off used)
Total Lamaque South Resource Estimate
(including Triangle, No. 4 Plug, Parallel, Sixteen Zone, No. 6 Vein and Fortune Zone)
Cut-off Grade (g/t Au)
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Indicated
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Inferred
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Tonnes
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Grade (g/t Au)
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Ounces (Au)
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Tonnes
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Grade (g/t Au)
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Ounces (Au)
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3.0 g/t
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5,346,200
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6.78
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1,164,600
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4,551,300
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7.03
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1,028,050
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5.0 g/t
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2,998,300
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9.04
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872,850
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2,743,000
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9.08
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800,620
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Fortune Zone: Specific gravity of 2.8 g/cm3; individual gold values uncap; 2 m minimum true thickness (if required, diluted with in situ grade when assay results are available otherwise diluted with 0 grade)
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Triangle Zone: Specific gravity of 2.8 g/cm3; capping of 20 g/t on composites when estimated cells are >15 m from drill hole (composites are 1m); 2 m minimum true thickness (if required, diluted with in situ grade when assay results are available otherwise diluted with 0 grade)
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No. 4 Plug: Specific gravity of 2.8 g/cm3; individual gold values capped to 300 g/t Au; no minimum true thickness
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Parallel Zone: Specific gravity of 2.8 g/cm3; composites are gradually capped when the gold value is over 90 g/t Au + (0.55*(Au-90)); 2 m minimum true thickness (if required, diluted with in situ grade when assay results are available otherwise diluted with 0 grade)
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Sixteen Zone: Specific gravity of 2.8 g/cm3; individual gold values gradually capped when the gold value is over 40 g/t using the formula
hereby = 40 g/t Au + ((x-40)*0.53)); 2 m minimum true thickness (if required, diluted with in situ grade when assay results are available otherwise diluted with 0 grade)
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No. 6 Vein: Specific gravity of 2.8 g/cm3; individual gold values are capped at 35 g/t Au; 2 m minimum true thickness (if required, diluted
with in situ grade when assay results are available otherwise diluted with 0 grade)
First Resource to Include Newly Identified, Steeply Dipping 'C' Structures
This is the first resource estimate completed since the Company identified a series of steeply dipping 'C' type structures at Triangle (see below Discovery and Evolution of Steep 'C' Structures within Triangle Zone) whereas all previous resource estimates interpreted the gold mineralization at Triangle to be contained primarily within a series of shallow dipping structures, previously referred to as the 'T' structures and now referred to as the 'C Flats'. The 'C' structures tend to be thicker and more continuous over much larger distances.
Triangle Zone Resource Estimate Separated by Hosting Structures ('C' and 'C Flats') (1)
Cut-off Grade (g/t Au)(3)
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Host Structure
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Indicated
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Inferred
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Tonnes
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Grade (g/t Au)
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Ounces (Au)
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Tonnes
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Grade (g/t Au)
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Ounces (Au)
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3.0 g/t
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'C'
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1,672,500
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7.39
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397,270
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2,793,600
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7.17
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644,410
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'C Flats'(2)
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975,500
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7.35
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230,540
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1,141,100
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6.19
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227,120
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Total
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2,648,000
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7.37
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627,810
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3,934,700
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6.89
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871,530
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4.0 g/t
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'C'
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1,372,300
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8.24
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363,330
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2,263,100
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8.05
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585,940
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'C Flats'
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730,200
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8.66
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203,230
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792,100
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7.38
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188,000
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Total
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2,102,500
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8.38
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566,560
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3,055,200
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7.88
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773,940
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5.0 g/t
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'C'
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1,096,300
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9.18
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323,470
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1,806,000
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8.95
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519,890
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'C Flats'
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568,600
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9.84
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179,950
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578,200
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8.45
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157,070
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Total
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1,664,800
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9.41
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503,420
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2,384,200
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8.83
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676,960
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Specific gravity of 2.8 g/cm3; capping of 20 g/t on composites when estimated cells >15 m from drill hole (composites are 1m); 2 m minimum true thickness (if required, diluted with in situ grade when assay results are available otherwise diluted with 0 grade)
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Previously known as 'T' Structures
The positive impact of these steeply dipping 'C' structures is substantial on several fronts, ranging from a net increase in resources to potentially lower cost mining methodologies. Using a 3 g/t Au cut-off grade, the gold mineralization contained within the steeper 'C' structures accounts for 63% of the Triangle's total indicated ounces, and 74% of the inferred ounces. The interpretation of the 'C' structures and the quantity of gold ounces within them represents a transformational change regarding the Company's future exploration and potential development plan for the Triangle zone.
Orientation, Width, and Average Grade of 'C' and 'C Flats' Structures
Host Structure
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Dip (degrees)
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Average True Thickness (m)
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Maximum True Thickness (m)
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Indicated Grade (3 g/t cut-off)
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Indicated Grade (5 g/t cut-off)
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'C'
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55 to 75
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2.2 - 4.1
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11
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7.39 g/t
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9.18 g/t
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'C Flats'
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20 to 45
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2.1 - 2.5
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16
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7.35 g/t
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9.84 g/t
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The previous mine plan (Lamaque Project Preliminary Economic Assessment or 'PEA', January 2015) for the Company contemplated recovering approximately 228,000 ounces from the Triangle deposit, 70% of which were to be extracted from shallow dipping structures Room and Pillar mining, which is higher cost and more labor intensive than the Long Hole mining method(s).
Given that the large majority of ounces in the resource estimate announced today are contained within the generally thicker 'C' type structures which dip between 55 and 75 degrees, the Company plans to evaluate in particular Long-Hole mining methods to extract a larger portion of the resources in an updated PEA. The updated PEA is schedule to be completed in H1 2016.
Discovery of C6 Zone
Drilling completed up to date has allowed company geologists to identify an additional 'C' structure at Triangle, the C6. Following the discovery of the C5 structure in early September (see PR dated September 1st 2015), this brings the total 'C' structures identified at Triangle to 6. With an updated resource estimate confirming the importance of 'C' structures for both tonnage and grade, the continual discovery of new 'C' structures is a key component in Integra's exploration strategy and success. As the Triangle Zone remains open in all directions, the Company's technical team continues to believe more of these 'C' structures could be discovered at depth.
Please click on the following link to view an idealized section through the Triangle deposit illustrating the new structural domains and model for resource estimation for the Triangle Zone:
http://www.integragold.com/i/pdf/Vertical-Section-296400E.pdf
Please click on the following link to view vertical longitudinal sections of the hole pierce points, grade times thickness contours and block model resource classification for the Triangle 'C' Zones:
http://www.integragold.com/i/maps/November2015_Longsections.pdf
Please click on the link below to view a vertical longitudinal section of the C4 Zone with the addition of proposed drill holes which should intersect the C4 Zone, and other known 'C' structures, as part of the 2015 and 2016 drill program:
http://www.integragold.com/i/maps/LS_C4-DDH_targetsv2.pdf
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