VANCOUVER, BC–(Marketwired – November 09, 2016) –
Press Release Highlights:
- Results announced today from C5 drilling include the widest intercept ever reported on this structure, occurring 50 meters (“m”) outside the limit of the current resource estimate at 3.0 g/t gold (“Au”) cut-off; the C5 structure is presently known to extend from 475 m to 850 m vertical and approximately 475 m along strike
- Significant drill results from the C4 structure disclosed today, both infill and expansion drilling, include 10.75 g/t Au over 10.45 m (approximately 75 m outside the present 5.0 g/t cut-off resource limit), 30.47 g/t Au over 2.90 m, and 18.12 g/t Au over 4.20 m (respectively 10.75 g/t Au, 15.67 g/t Au, and 13.65 g/t Au when capped at 34.3 g/t Au, and 10.40 m, 2.77 m, and 3.40 m in true width)
- In the near surface C2 structure, the 25 m center infill drill program continues to deliver high-grade results, including 45.78 g/t Au over 6.90 m and 14.15 g/t Au over 5.80 m (respectively 19.38 g/t Au and 14.15 g/t Au when capped at 34.3 g/t Au, 5.95 m and 3.86 m in true width)
- 6 drill rigs currently active on the Lamaque Gold Project, including four at Triangle, one testing the Lamaque Deep target and one testing a priority Gold Rush Challenge target
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF), (“Integra” or the “Company”) is pleased to announce additional assay results from its 2016 drill program on the Triangle Deposit (“Triangle”) situated on the Lamaque Gold Project (“Lamaque”) in Val-d’Or, Québec. Results continue to demonstrate the continuity of the C structures with infill and expansion drilling regularly intersecting significantly higher grades and wider intervals than anticipated. The results announced today are from 32,800 m of drilling conducted in 2016 and assays are currently pending from an additional 23,500 m (62 drill holes) of diamond drilling at Triangle.
“Only six drill holes from the C5 structure were included in the Company’s previous resource estimate, underlining the untested expansion potential of that structure at Triangle. The intersection of 11 meters of high-grade gold mineralization 50 meters away from the previous resource limit at C5 in drill hole TM-16-187, along with other significant intercepts disclosed today, further demonstrates the growth potential at C5 and on Triangle itself,” commented Company President and CEO Stephen de Jong. “In addition to the on-going success of expansion drilling at depth, the near surface infill drill program continues to both increase our confidence in the geological model at Triangle and highlights the potential for further resource growth in the C2 structure.”
Triangle Drill Results Summary
The following table highlights selected intercepts from this tranche of drill results. Detailed results are presented in the link to the full assay results table below. Individual composites are disclosed as both uncapped and capped (when applicable) with individual values capped at 34.3 g/t Au.
|Drill Hole Number||From
|n/a – no zone assigned yet|
|(1)||Downhole thickness; true width varies depending on drill hole dip; most drill holes are aimed at intersecting the vein structures close to perpendicular therefore true widths are close to downhole widths (approximately 85% conversion ratio); true widths of C structure intercepts are presented on longitudinal sections.|
|(2)||For known mineralized zones, intervals are based on geological observations, i.e. on the amount of quartz veining, a 1.00 g/t gold cut-off for compositing in intervals outside mineralized zones; individual composites are presented uncap and capped (when applicable) with individual values capped at 34.3 g/t Au; no minimum thicknesses considered.|
To view the full assay results table please click on the following link (results disclosed today are identified in red font):
To view a cross section of Triangle and the No. 4 Plug Deposit please click on the following link:
To view core photos of select intercepts please click on the following link:
Expansion Drilling at C5 Returns the Widest Interval Ever Reported on that Structure, Demonstrating Potential Resource Upside at Triangle
Results from expansion drilling at C5 demonstrates the continuity of mineralization on this structure and further underscores the resource expansion potential at Triangle. The C5 structure dips at 60 to 65 degrees to the south and is located 125 m structurally below and parallel to the C4 structure, the largest of the C structures at Triangle. The results announced today include the widest interval ever reported on the C5 structure: 11.0 m of 40.74 g/t Au (13.59 g/t Au when individual assay intervals are capped at 34.3 g/t, 10.79 m in true width). This specific intersection is from the lower western section of the C5 structure, approximately 50 m from the 3.0 g/t cutoff limit of the Company’s November 2015 resource estimate.
Other recent expansion drilling results outside the current resource (see Company news release dated November 10, 2015) include 9.74 g/t Au over 3.70 m, 10.92 g/t over 6.00 m, and 12.33 g/t Au over 2.10 m (uncapped, downhole width) further highlighting the resource growth potential for the C5 structure.
As illustrated in the attached vertical longitudinal section of the C5 structure (see link below), additional results are pending from multiple (8) drill holes at various depths. Note that the true thickness of intervals are indicated on all longitudinal sections and will differ from downhole lengths reported in the drill assay tables.
Drilling at C4 Structure Continues to Confirm Zone Continuity and Predictability of Geological Model
The results disclosed today from drilling completed on the C4 structure continue to demonstrate mineralization continuity in both thickness and grade. The intercepts, which are located on the western side of the C4 structure, include the following (all results uncapped, downhole width, see assay tables for details):
- 10.75 g/t Au over 10.45 m
- 18.12 g/t Au over 4.20 m
- 30.47 g/t Au over 2.90 m
- 15.91 g/t Au over 3.00 m
- 11.73 g/t Au over 2.20 m
These results continue to demonstrate the potential for resource growth on the C4 structure. To date, C4 is the largest of the high-angle C-type structures at Triangle.
As illustrated in the attached vertical longitudinal section of the C4 structure (see link below), additional results are pending from multiple (18) infill and extensional drill holes at various depths ranging from 325 m to 825 m vertical.
Infill Drilling in the C2 Structure Continues to Highlight Strong Internal Gold Distribution Continuity
The C1 and C2 structures host the majority of the gold mineralization in the upper portion of Triangle and are currently the focus of an extensive infill drill program conducted at 25 m centers. The objective of this program is to continue to define the internal continuity of gold mineralization in these two structures while subsequently providing additional information to guide the development of the underground exploration ramp that was initiated in July 2016.
The recent intercepts from the C2 structure have been frequently wider and higher grade than the November 2015 resource estimate averages for this zone (see News Release dated October 13, 2016). The results announced today, which are located throughout the C2 structure, include the following (all results uncapped, downhole width, see assay tables for details):
- 45.78 g/t Au over 6.90 m
- 14.15 g/t Au over 5.80 m
- 8.18 g/t Au over 6.50 m
- 6.77 g/t Au over 6.10 m
- 6.63 g/t Au over 2.60 m
As illustrated in the longitudinal sections for C2 (see link below), the results from numerous intercepts (21) in this structure are still pending.
High-Grade Mineralization identified in between C and C-Splays Type Structures (previously termed C-Flats)
In addition to the mineralization identified in the primary C and C-Splay structures, high-grade gold bearing intercepts continue to be identified in between these well-defined structures. These potential additional mineralized zones represent resource upside that will be evaluated during future resource modelling and estimation and through close spaced underground drilling once underground access is granted.
Some of the more significant results include (all results uncapped, downhole width, see assay tables for details):
- 45.90 g/t Au over 1.00 m
- 62.60 g/t Au over 0.50 m
- 28.00 g/t Au over 0.50 m
- 13.62 g/t Au over 0.80 m
- 11.63 g/t Au over 1.10 m
- 10.90 g/t Au over 1.10 m
- 10.42 g/t Au over 1.10 m
- 10.69 g/t Au over 1.10 m
Updated Resource Estimate, PEA and Timing of Future Studies
The Company is in the final stages of completing a global resource estimate for Lamaque that will include updated resource estimates for Triangle (23,800 m of expansion and infill drilling, February 02, 2016 database cut-off) as well as for various satellite deposits. The Company anticipates disclosing the updated resource estimate in November of this year. This updated resource estimate will be used as the basis of an updated Preliminary Economic Assessment (“PEA”) which the Company anticipates will be completed in January 2017.
Approximately 95,000 m of new drilling at Triangle will then be incorporated into an updated resource estimate planned for late Q1 2017. This resource estimate will incorporate most of the drilling results from the 2015-2016 drilling program on Triangle. This resource estimate will also include, for the first time, an updated resource estimate on the upper portion of the Sigma Deposit, acquired by Integra in 2014 as part of the Sigma-Lamaque Mill and Mines acquisition.
Lamaque Project Exploration Program Summary
To date in 2016, a total of 103,938 m in 299 drill holes have been completed at Lamaque, of which 90,221 m in 270 drill holes were completed on Triangle. Drilling is ongoing with 6 drill rigs currently in operation. Four drills are operating at Triangle continuing with the infill and extensional drill program. One drill rig is completing the pilot hole at the Lamaque Deep Target which has reached a depth of 1,850 m (intended target depth for the pilot hole being 2,200 m). Lastly, one drill rig is testing one of the more interesting and easily accessible targets generated from the Integra Gold Rush Challenge.
The results announced today are from 92 drill holes (including partial holes, wedges and abandoned holes) representing 32,800 m. As of November 3, 2016 drill results are still pending from an additional 62 drill holes representing 23,500 m at Triangle. Results will continue to be disclosed regularly as they become available.
Triangle Deposit Summary
The Triangle zone consists of a series of high-grade, parallel, steeply to moderately dipping consolidated shear zones (“C” structures) structurally spaced at 125 m to 150 m intervals, hosting gold-bearing quartz-carbonate-tourmaline veins, which host the majority of the deposit’s gold resources. Other conjugates structures like the C-Splays (previously identified as C-Flats but now referred to as C-Splays to avoid any confusion with true flat structures such as tension vein arrays; C-Splays have dips varying from 30 to 60 degrees), and horizontal tension veins which could also host resources at Triangle. The C1 and C2 structures occur from surface to a depth of 300 m and 475 m vertical respectively, the C4, C5, C6 structures occur between 320 m and 875 m vertically, and the C7 structure is presently known to extend from at least 975 m to 1,150 m vertically. The lateral and down-dip limits of gold mineralization for the deeper C structures (C5, C6 and C7) have yet to be identified and are open for expansion.
Drilling conducted since early 2015 at Triangle has focused on infill and step-out/extensional drilling within select areas of the C1, C2, C4, C5 and C6 structures, and on deep testing of Triangle below 1,000 m vertically. Characteristic geological host units, structural deformation in the form of shearing and alteration assemblages associated with gold bearing veins are present within the structures observed to date in most drill holes at Triangle. Ongoing results continue to demonstrate the validity of the predictive nature of the geological model and associated high-grade gold bearing vein structures.
Project and Company Profile
Integra Gold is a junior gold exploration company advancing projects in Val-d’Or, Québec, one of the top mining jurisdictions in the world. The Company’s primary focus is its high-grade Lamaque South project. In the fall of 2014, Integra completed the accretive acquisition of the Sigma Mill and Mine Complex, a fully permitted 2,200 ton per day mill and tailings facility. With major federal and provincial permits in place, existing infrastructure and significant exploration potential, this acquisition removed major costs and shortened timelines typically associated with mine projects. Integra has raised over $120 million since 2013, at successively higher share prices, despite depressed gold prices. In August 2015, Eldorado Gold Corporation completed a strategic investment in Integra, acquiring 15% of the outstanding common shares. Integra was recently named to the TSX Venture top 50 performers in 2015 and the OTCQX Best 50 award for 2015.
The Lamaque project is under the direct supervision of Hervé Thiboutot, Eng., Senior Vice-President of the Company, and Jacques Simoneau, P. Geo., Exploration Manager of the Company. Mr. Thiboutot and Mr. Simoneau are Qualified Persons (“QPs”) as defined by the 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 the Bourlamaque and ALS Laboratories 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 (AA) finish, with a gravimetric finish completed for samples exceeding 5 g/t Au. Results published are from the gravimetric finish if above 5 g/t Au and from the AA finish if lower than 5 g/t Au.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong
CEO & President
Follow Integra Gold On:
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, timing of completion of an updated PEA and completion of the Sigma-Lamaque transaction. 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.