VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 10, 2013) - Integra Gold Corp. (News - Market indicators) ("Integra" or the "Company") is pleased to announce that it has hired François Chabot, Eng., as Manager of Engineering and Operations for its Lamaque Gold Project located in Val d'Or, Québec. Mr. Chabot, with close to 25 years in the mining industry, will be in charge of engineering, environmental, permitting and other development-related initiatives in association with the Lamaque Gold Project.
"We are excited to add Mr. Chabot to our constantly growing team and look forward to utilizing his extensive experience to continue to aggressively advance the Lamaque Gold Project," commented Company President and CEO, Stephen de Jong. "Infrastructure-rich projects in safe jurisdictions with strong grades have a major advantage and will not only survive but find a way to shine in this depressed market environment created by a weakness in metal prices. Today's announcement shows our commitment to building a team capable of bringing the project forward, and in regards to the commencement of a PEA, that we are taking the necessary steps to advance the project as well as illustrate to the market the attractiveness of the Lamaque project."
Mr. Chabot graduated from Laval University in Québec City in 1986 with a BSc. Geological Engineering, completed a MSc. Geology in 1988, and is a member in good standing of the "Order des Ingénieurs du Québec". Mr. Chabot has significant development and production experience with vein type deposits similar to that found at Integra's Lamaque Gold Project. Mr. Chabot is fluent in French and English and brings a wealth of experience in all aspects of the development of advanced stage projects including permitting, environmental management, project evaluation, operations start-up, reserve evaluation, mine planning, health and safety, and budget control.
Some of Mr. Chabot's career highlights include:
- Richmont Mines Inc. - Most recently Director for the Beaufor Mine and Monique Project, located in Val-d'Or, Québec. During his tenure at Richmont, Mr. Chabot was instrumental in developing the "W Zone" ramp project from evaluation through production as well as the start-up of the Monique open pit project. During his tenure Mr. Chabot was also played a key role in significantly improving health and safety management at the Beaufor mine.
- Golder Associates Ltd. - Associate and regional manager in Val-d'Or, Québec. Mr. Chabot was involved in various mining projects completing 43-101 technical study (scoping, feasibility, and reserves evaluation), mine planning, tailing dam construction, rock mechanics, environmental management and site reclamation. Mr. Chabot was also directly involved in the successful business development of Golder Val-d'Or office.
- Aurizon Mines Ltd. - Chief geologist and technical superintendent at the Beaufor mine which, under his leadership, increase its reserves to over 1M tonnes while developing a 5 year mine plan.
- Placer Dome - Production geologist for the Sigma Mine (located less than half a km north of Integra's Lamaque Gold Project). Aside from managing production of multiple areas within the mine, Mr. Chabot was directly involved in the delineation and development of the first open pit operation at Sigma.
M. Chabot is respected and well known in the Val-d'Or district and currently sits on the board of the Cité de L'Or society. He also served as the President of the Cite de L'Or society for 5 years where he was instrumental in the successful completion of the $7,000,000 development plan.
Preliminary Economic Assessment ("PEA")
The Company is also pleased to announce that it has initiated the PEA of its Lamaque Gold Project, with completion of the study expected during Q4 of 2013. The contract was given to InnovExplo Inc. located in Val d'Or, Québec, who has an abundance of experience in completing 43-101 compliant evaluations and assessments on projects with similar characteristics to the Lamaque Gold Project.
The PEA is the next milestone as the Company continues to advance the Lamaque Project towards feasibility and potentially production. Also underway, while helping define the PEA parameters, are numerous engineering and environmental studies such as the baseline environmental study, geotechnical scoping studies, metallurgical testing, mill evaluation of local mills, socio-economic studies and permitting gap analysis.
The Company is also working on completing an updated resource estimate which is expected to be announced prior to the completion of the PEA.
Project and Company Profile
Integra's Lamaque Gold Project is located in the heart of the Val d'Or gold camp 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 objective is to continue to prove up additional resources while advancing the existing resource towards production. The project is split into two clusters, the North Cluster and the South Cluster, located approximate 1 km from each other. The Lamaque Project's primary target, the South Cluster, is 4 km from the City of Val d'Or.
Qualified Person
The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, Eng. and Senior Vice-President of the company, a Qualified Person ("QP") as defined by National Instrument 43-101, Francois Chabot, Eng. and Manager Operations of the Company, Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, P.Eng., Geo. of Géologica Inc., both independent QP as defined by National Instrument 43-101. The Company's QPs has 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 ALS Laboratory Group and Bourlamaque Labs 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 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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Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release constitutes 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.
