VANCOUVER, BC--(Marketwired - January 06, 2016) -
Press Release Highlights:
- Five Gold Rush Challenge finalists to face off against five industry leaders in "shark-tank" style live finale charity event at Prospectors & Developers Association of Canada ("PDAC") on March 6, 2016:
- Brent Cook (Author, Exploration Insights),
- Chantal Gosselin (most recently Portfolio Manager, Goodman Investment Counsel),
- Rob McEwen (founder Goldcorp/McEwen Mining),
- Sean Roosen (Chair of the Board and CEO, Osisko Gold Royalties),
- Randy Smallwood (CEO, Silver Wheaton)
- By the numbers: 1,342 participants making up 95 teams from over 83 countries resulted in over 100 full length (25-30 page + video) submissions received totalling over 3,000 pages of new, innovative, outside the box and multi-discipline ideas on where Integra looks for its next big gold discovery
- Orbit Garant Drilling Inc. ("Orbit Garant") announced as platinum sponsor of the Gold Rush Challenge
- IBM and Macquarie Group named as lead sponsors of the Gold Rush Challenge Finale PDAC Event which will enable the Company to direct proceeds from the event to various Val-d'Or based charities
- Live Finale Event, planned for March 6, 2015 in Toronto to include for the first time ever a Mining and Innovation Exhibit by IBM with the objective of showcasing new, innovative ideas and technologies with the potential to change how mineral deposits are discovered, developed and extracted in the future
Integra Gold Corp. (TSX VENTURE: ICG) (ICGQF) ("Integra" or the "Company") is pleased to provide an update on its $1 million Integra Gold Rush Challenge (the "Challenge" or the "Gold Rush Challenge"). On December 1, 2015 the Company closed the Challenge to submissions and is happy to announce that based on an initial review of the over 100 detailed submissions the initiative has already been an overwhelming success.
To view a video outlining the highlights of the Gold Rush Challenge and introducing a number of the judges for the live finale please click on the following link:
https://vimeo.com/150842901
Submission Review Underway, Gold Rush Challenge Technical Judges Awaiting 20 Semi-Finalists
In total, 1,342 entrants from over 83 countries worldwide registered to compete in the challenge, resulting in 95 teams and over 100 proposals. WSP I Parsons Brinckerhoff ("WSP"), one of the world's leading engineering and geological consulting firms with more than 32,000 employees and official GeoScience partner of the Gold Rush Challenge, is currently in the process of selecting and delivering the top 20 submissions to the Challenge's technical judging panel. On or before February 15th 2016, these technical judges will narrow the field down to the top five finalists which will then go up against a separate panel of industry leaders in the "shark-tank" style live finale at PDAC 2016.
The live event will be held at the Carlu (www.thecarlu.com) during PDAC on March 6, 2016. Proceeds from the evening will go to a variety of Val-d'Or based charities. For media enquiries, ticket sales, and further information about the event, please contact goldrushfinale@integragold.com or call Anna Pagliaro at 604-629-0891.
Panelists Announced for Live Finale
The panel of industry leaders for the live finale event at PDAC 2016 will use their experience, knowledge, and skills to help choose the winner of the Integra Gold Rush Challenge.
The panelists named to the "shark-tank" style live finale are:
- Brent Cook: BSc Geologist, Exploration Analyst and Author of Exploration Insights (www.ExplorationInsights.com)
- Chantal Gosselin: B.Eng Mining Engineer, MBA, most recently held the position of Vice President and Portfolio Manager, Goodman Investment Counsel
- Rob McEwen: Honorary Doctor of Law, MBA, BA, Founder of Goldcorp Inc. and McEwen Mining, launched Goldcorp Challenge
- Sean Roosen: Chair of the Board of Directors & CEO, Osisko Gold Royalties
- Randy Smallwood: P. Eng. Geological Engineer, President & CEO, Silver Wheaton
The Challenge's technical judging panel is made up of the following members:
- Neil Adshead: PH.D Geologist, Investment Strategist at Sprott Asset Management LP
- Andrew Brown: MSc Geologist, Chief Geologist - West Africa for B2Gold Corp
- Benoît Dubé: PH.D Geologist, Senior Research Scientist with the Geological Survey of Canada
- James Franklin: PH.D Geologist, Geological Survey of Canada Chief Scientist (retired)
- David Rhys: MSc Geologist, Panterra Geoscience consulting geologist
- Brian Skanderberg: MSc Geologist, President and CEO of Claude Resources.
Computer science and machine learning advisor to the judges' panel:
- David Stephens: B.A. Electrical Engineering & Computer Science, Director of Business Development at Goldcorp.
Orbit Garant Welcomed as Gold Rush Challenge Platinum Sponsor
The Company is also pleased to announce Orbit Garant (OGD.TO) as its Gold Rush Challenge Platinum Sponsor, whose sponsorship proceeds will go towards the incentive prize. Orbit Garant is a leading Canadian mineral drilling services provider based in Val-D'Or and a long-time supporter of Integra and the Lamaque Project. Orbit Garant currently has seven Diamond drill rigs and drilling personnel operating on Integra's Lamaque Gold Project.
"The Gold Rush Challenge is an opportunity to draw attention to Val-d'Or as a premier mining jurisdiction and to showcase the exploration potential in the Abitibi region," said Eric Alexandre, President and CEO of Orbit Garant. "Integra has for many years been a very active exploration client and we are pleased to see the abundance of new targets generated by this innovative process on the Lamaque property."
Macquarie and IBM to Sponsor Gold Rush Finale
The Macquarie Group Foundation have joined as Lead Sponsor of the event and will be matching the funds raised, increasing the philanthropic impact of this event for the benefiting charities. IBM will host the mining innovation expo and cocktail reception before the live event which will be open to all attendees.
George Salamis, Executive Chairman of the Company comments, "I have been in the mining industry for over 25 years, and the Gold Rush is the most exciting, rewarding, and transformational project I have worked on. Geologists, engineers, computer scientists, statisticians, students and others from all corners of the globe came together to work on this challenge. Though the prize money certainly acted as an incentive for some, based on the videos we have received from participants, the sheer challenge of interpreting decades of data was a dominant driving force behind many submissions," commented Executive Chairman George Salamis. "In some ways, I believe this Challenge could, and will, effect how resource companies look at exploration in the future. Being a geologist by training, I have had my eyes opened by the multi-disciplinary, collective approach to problem solving, mineral exploration, and data analysis brought to the forefront by this Challenge. We are excited for the next steps to come in the Gold Rush."
About the Integra Gold Rush Challenge
The Integra Gold Rush Challenge is an incentive prize challenge powered by the popular HeroX (www.herox.com) crowdsourcing platform. After registering for the Challenge, competitors from any background or location were given access to an unprecedented database built from six terabytes and 75 years of historic mining and exploration data from Integra Gold's formerly producing Sigma/Lamaque mines in Val-d'Or, Québec. The individual or group whose submission represents the best prospect for the next big gold discovery on the Sigma/Lamaque properties, based on a weighted set of criteria as outlined in the Challenge rules (www.herox.com/IntegraGoldRush), wins their share of the C$1 million prize.
The Company also announces that John Glanville is employed full-time in an investor relations role.
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 Lamaque South's project to 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 zone in the South Cluster and the Parallel zone 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 zone and 3 kilometres from the Triangle zone. 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 million ounces of gold in total.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong
CEO & President
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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 obtain any government or other regulatory approvals required to complete the private placement and Company's planned exploration activities, that the Company is able to complete the private placement, 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. Such risk factors include, among others, that the private placement will not be completed, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. 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.