Integra Gold Announces Best Results to Date on Triangle Zone With
14.2 g/t Gold Over 11.0 Meters, 10.5 g/t Gold Over 13.0 Meters and
26.5 g/t Over 6.0 Meters
VANCOUVER, BC--(Marketwired
- May 21, 2014) - Integra Gold Corp.
(TSX-VENTURE: ICG)
Press Release Highlights
- ICG continues to confirm upside resource potential with
the majority of the reported high grade intercepts coming from the
deeper sections of the Triangle Zones, previously included in
the PEA as inferred resources, or outside the resource
envelops, extending known mineralization laterally and at
depth
- Some of the intercepts disclosed today represent the
widest and highest metal-factor intercepts ever reported
for the Triangle Zone
- Other significant intersections include:
- TM-14-15 with 10.39 grams/tonne gold ("g/t Au") Au over
4.0 meters ("m")
- TM-14-32 with 23.34 g/t Au over 1.0 m
- TM-14-33 with 15.88 g/t Au over 4.0 m
- TM-14-43 with 13.73 g/t Au over 1.0 m, 25.33 g/t Au
over 2.0 m, and 14.49 g/t Au over 2.0 m
Integra Gold Corp. (TSX-VENTURE:
ICG) ("Integra" or the "Company") is pleased to announce
additional results from its winter 2014 Triangle Zone definition
and extension drill program at the Lamaque Gold Project ("Lamaque")
located in Val-d'Or, Québec.
The majority of the results today are from mineralization
intersected between vertical depths of 400 and 650 m. Until the
2014 program, limited drilling had taken place in these portions of
the Triangle zone intrusive host rock, sections which were
characterized primarily as inferred resources for the recently
disclosed PEA results. The results today are especially significant
because of the length of the high grade zones, up to 13 m.
The Company has now completed its winter 2014 Triangle Zone
drill program with a total of 24,820 m in 65 drill holes
completed. Drilling aimed at completing closer spaced drilling
at 35 to 50 m centers in the core of the Triangle deposit while
testing for lateral extensions. The Triangle Zone, located in the
southern part of the Lamaque project, contains the Company's
highest grade indicated resource. The results announced today are
from 10 holes drilled, representing 4,725 m of the 2014 program.
Integra has now released 33 holes out of a total of 65 drilled,
representing a total of 14,325 m of the 24,820 m program.
The attached section illustrates the proximity of these holes to
existing resources, as well as where these intersections are
compared to other recent discoveries outside the Company's current
resource model.
Link to Section:
http://www.integragold.com/i/pdf/2014-05-20_NRM1_APu3Le.pdf
Drill result highlights presented in the following summary table
include some of the best widths with significant high grade ever
intersected at the Triangle Zone:
Drill Hole |
|
From (m) |
|
To (m) |
|
Interval (m)* |
|
Grade (g/t)** |
TM-14-11 to TM-14-14 - Assays Pending |
TM-14-15(1) |
|
595.00 635.00 |
|
599.00 636.00 |
|
4.00 1.00 |
|
10.39 7.92 |
TM-14-16 - Assays Pending |
TM-14-17A |
|
545.10 |
|
546.10 |
|
1.00 |
|
6.84 |
TM-14-21 to TM-14-31 - Assays Pending |
TM-14-32 |
|
275.00 604.00 |
|
276.00 615.00 |
|
1.00 11.00 |
|
23.34 14.23 |
TM-14-33 |
|
583.00 631.00 |
|
596.00 635.00 |
|
13.00 4.00 |
|
10.51 15.88 |
TM-14-35 |
|
427.00 |
|
429.00 |
|
2.00 |
|
7.60 |
TM-14-36 - Assays Pending |
TM-14-37(2) |
|
82.00 |
|
84.00 |
|
2.00 |
|
6.41 |
TM-14-38 to TM-14-39 - Assays Pending |
TM-14-41 to TM-14-42 - Assays Pending |
TM-14-43 |
|
62.00 407.00 573.00 614.00 |
|
63.00 409.00 579.00 613.00 |
|
1.00 2.00 6.00 2.00 |
|
13.73 25.33 26.45 14.49 |
TM-14-44 |
|
301.00 |
|
303.00 |
|
2.00 |
|
8.49 |
TM-14-45 to TM-14-57 - Assays Pending |
|
|
|
|
|
|
|
|
|
* 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
- Partial results - results of sampling performed between 304.4 m
and 499.0 m are not available yet
- Partial results - results of sampling performed between 90.0 m
and 575 m are not available yet
To view a complete table of available composited results for the
2014 drilling at Triangle please click on the following
link. All 2014 intercepts listed in the complete table are
assigned a mineralized zone number as presented in the idealized
sections below:
http://www.integragold.com/i/pdf/2014-05-20_NRTDHR_APu3Le.pdf
To view a location plan map of the drill holes disclosed today
please click on the following link (note: this map only includes
drill holes disclosed in this press release):
http://www.integragold.com/i/pdf/Triangle-Zone-Drill-Location-May-21-2014.pdf
Individual sections for the widest intercepts listed above in
holes TM-14-32 and TM-14-33 are also presented on the following
link:
http://www.integragold.com/i/pdf/2014-05-20_NRM2_APu3Le.pdf
"These results are highly encouraging as they definitively
confirm our expectations regarding continuity at depth and
laterally of the individual gold bearing zones at Triangle. In
addition, the thicknesses of some of these recent intercepts which
are close to true width represent some of the thickest high grade
intercepts ever reported at the Lamaque Project," commented Company
President and CEO, Stephen de Jong. "With over half of the results
from the recently completed program having been received and the
balance of the assays pending, further drill result updates will
continue for the next few months. Once these results have been
received, compiled and modelled, shareholders can expect to see an
updated resource estimate in the second half of this year. Over
57,000 meters of additional infill and extension drilling has now
been completed at the Lamaque Project since the cut-off date used
for the resource in the recently announced project PEA,
demonstrating the potential to enhance both the resource base and
mine life in the upcoming pre-feasibility study."
Results and Initial Conclusions for the 2014 Triangle Zone Drill
Program
- Substantial mineralization within the diorite intrusive host
rocks exists between the 400 m and 650 m vertical level as
witnessed by the results announced today of some of the widest high
grade zones ever intersected on the project. The 650 m limit does
not represent the limit of gold mineralization at Triangle as
deeper high grade intercepts down to 850 m vertical have been
disclosed previously at Triangle (see press release dated November
18, 2013); the 650 m vertical it is the vertical limit imposed on
the Triangle resource that were used in the PEA; the lower vertical
limits of resource to be used in future economic evaluation may
vary.
- Mineralization also extends south of the intrusive hosted
Triangle Zone, into the pyroclastic volcanics, with previously
reported intersections of 13.9 g/t Au over 7.0 m in hole TM-13-07
and 13.2 g/t Au over 2.0 m in hole TM-13-09A (see press releases
dated November 18, 2013 and January 23, 2014); these particular
intercepts were respectively 175 m and 150 m south of the Triangle
Zone resource used for the PEA and at a vertical depth of 225 m.
The ground in between this discovery and the existing resource was
drill tested during the 2014 winter program with, among others, an
intersection 50 m south of the Triangle Zone resource returning
23.0 g/t Au over 5.0 meters in hole TM-14-03A (see press release
dated March 25, 2014). Additional assays are pending.
- Confirmation of continuity at the Triangle Zone, both
internally and laterally as well as further confidence in the
Company's geological model. 2014 infill and extension drill
holes intersected gold mineralized zones within meters of where the
model predicted they would be. This gives further confidence in the
geology model used to calculate mineral resources as well as to the
mine plan put forth in the Lamaque Project Preliminary Economic
Assessment ("PEA").
- Further credibility in the use of modern-day geophysics, more
specifically magnetic response, to identify potentially gold
bearing dioritic intrusive plugs, the main host rock of a number of
the gold deposits in the immediate vicinity. These include the
Lamaque Mine Main Plug (historical production of over 3.7M Au
ounces), as well as the Company's Plug No. 4, Plug No. 5, Triangle
Zone, and Parallel Zones. Numerous high magnetic targets remain
untested on the Lamaque Project which will be drilled in 2014 and
2015.
Triangle Definition and Extension Drilling Program
The Triangle Zone winter drill program had three principal
objectives:
- Reduce the drill spacing for the upper portion of the known
Triangle deposit between surface to 300 m vertical depth to 25 to
50 m centers;
- Assess the depth extensions of Triangle mineralization between
300 and 650 m vertical at 50 to 75 m drill centers. With most of
the geological resource below the 450 m vertical falling into the
inferred resource category the drilling also aimed at improving the
resource category to a depth of 650 m vertical.
- Test for extensions and continuity of the new Triangle
mineralization reported in volcanics 175 m south of the known
resource.
2014 results disclosed previously and those presented above
strongly support the Company's interpretation and modelling.
Based on assay results available to date, this program has been
successful in proving continuity and extensions of known zones as
well as in identifying a number of new targets. Considering the
positive results of the winter program, the Company will be pushing
forward on an updated global resource estimate, which it
anticipates will be completed in the second half of 2014.
As mentioned above, the 2014 program also tested for extensions
of the Triangle Zone, extending laterally hundreds of meters away
from the usual dioritic intrusive host rock itself, with the aim of
increasing the Company's near surface resource base. In 2013 two
peripheral holes drilled approximately 300 m at surface from the
Triangle Zone intersected high grade mineralization 150 m and 175 m
down-dip from the Triangle resource limit, at a vertical depth of
approximately 225 m. These same holes entered the Triangle Zone
intrusive host rock at a depth of approximately 650 m and confirmed
the host rock, along with significant mineralization, continued to
a depth of over 1,000 m vertical.
Although this deep drilling intersected multiple zones of high
grade gold mineralization the Company has opted to focus its
efforts on near surface resource expansion, above 650 m vertical,
to further increase the level of confidence in the resource
estimate that was used for its PEA released in March, 2014, and
that will be used for the upcoming pre-feasibility. The 2014
program did not further test mineralization below 650 m vertical
and therefore considerable upside to the Triangle Zone resource
remains in this lower section. Gold deposits with similar
geological characteristics in the immediate area (within 2 km),
such as the neighbouring Lamaque and Sigma Mines, have profitably
been mined down to depths of over 1,000 and 2,000 m respectively,
and in the case of the Lamaque Mine in an intrusive host rock
similar to the Triangle Zone host rock.
Planned drilling at the Lamaque Project for the balance of 2014
has been increased to 45,000 m. This includes the recently
completed 25,000 m program at the Triangle Zone.
Lamaque Project New Discoveries Potential
Potential for further discoveries through the use of modern
geophysics, along with further compilation of historical data,
exists as Integra is the first company to consolidate this highly
prospective land package which for over 80 years has had fragmented
under multiple claim ownerships. The Triangle Zone, only 2km from
over 9 million ounces of historic production by Teck and Placer
Dome, was discovered through the use of geophysics. The intrusive
"Plug" targets contain significant amounts of magnetite and
therefore have a very strong magnetic signature. The ground above
the Triangle Zone, and for most of the terrain at out Lamaque
project, is swampy with little outcrop, meaning there was not much
for prospectors to see from surface. The Sigma and Lamaque mines
were discovered because both of the deposits "day-lighted" or came
to surface. The Company has the data from a 2006 magnetic airborne
geophysical survey which will be used to guide future exploration
programs in the pursuit of new discoveries.
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 divided into three main clusters of gold
deposits, the North, South and West Cluster. The North Cluster
consists of the Parallel, Fortune, No. 5 Plug, and No. 3 Mine
deposits and is located approximately 1 km northwest from the South
Cluster, which includes the No. 4 Plug and Triangle deposits. The
Sixteen Zone and No. 6 Vein form the West Cluster.
The recently disclosed resource for Lamaque, dated January 28,
2014 and available on SEDAR (see March 13, 2014 press release), is
summarized in the tables below. The January 2014 resource does not
include over 57,000 m of new drilling, including the recent 25,000
m winter program at Triangle, completed at Lamaque since the
close-database date of the resource used in the PEA (April 24,
2013). In addition to the winter 2014 program at Triangle, the
additional drilling includes 4,800 m at Mine No. 3, 4,700 m at Plug
No. 5 (these two zones are not yet included in the Lamaque resource
base), 7,000 m at South Triangle, 13,000 m at Parallel, and 2,500 m
at Fortune.
Lamaque Gold Project Resource Summary - January
28, 2014
|
|
Indicated Resources |
|
Inferred Resources |
Cut-Off Grade |
|
Ounces |
|
Grade (g/t Au) |
|
Tonnes |
|
Ounces |
|
Grade (g/t Au) |
|
Tonnes |
3 g/t Au |
|
756,280 |
|
7.1 |
|
3,325,300 |
|
293,710 |
|
10.8 |
|
851,400 |
5 g/t Au |
|
569,410 |
|
9.8 |
|
1,812,100 |
|
258,850 |
|
13.9 |
|
582,300 |
A project plan map illustrating the diverse deposits at Lamaque
is available at the following link:
http://www.integragold.com/i/maps/Updated-Zone-Map-28-Jan-2014.pdf
Investor Relations
As disclosed in the Company's news release of March 13, 2014,
the Company has contracted with Mi3 Communications Inc. to conduct
investor relations in Quebec. Consideration for this service
is $7,500 monthly and 200,000 stock options, which vest
quarterly.
Qualified Person
The Lamaque exploration project is 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 Person ("QP") as defined by National
Instrument 43-101, and Alain-Jean Beauregard, P.Geo., and Daniel
Gaudreault, Eng., Geo. of Géologica Inc., both independent QP as
defined by 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 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
Follow Integra Gold On:
- Twitter: http://twitter.com/integragoldcorp
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. 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.
CONTACT INFORMATIONCorporate Inquiries: Chris
Gordon: chris@integragold.com Or visit the company
website: www.integragold.comP.O Box 11144, Royal
Centre #2270 -1055 West Georgia
StreetVancouver, BC Canada, V6E
3P3Email: chris@integragold.com
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