VANCOUVER, BC–(Marketwired – November 03, 2015) – Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF)
Press Release Highlights:
- Results from 9 drill holes disclosed today, 12 drill holes pending
- The objective of the Parallel Zone (“Parallel”) drill program was to:
- Complete a 20 to 25 meter (“m”) drill spacing pattern in selected sections of the Parallel Zone
- Collect additional metallurgical samples for further testing and processing optimization parameters
- Confirm continuity of the high grade 6b Zone
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF)(“Integra” or the “Company”) is pleased to announce additional results from its 2015 Parallel infill drilling program. In addition to the Triangle Zone, Parallel is one of the primary gold deposits at Integra’s Lamaque South Gold Project (“Lamaque”) located in Val-d’Or, Québec. Parallel is located 2 kilometres (“km”) northwest of the Triangle Zone and less than 800 m from the Company’s milling facility. The objective of exploration work conducted at Parallel is to define a gold deposit with the ability to provide supplemental, high-grade mill feed in a future production scenario. Gold mineralization at Parallel would be accessed by way of a 700 m extension of existing underground workings which were acquired as part of the Company’s 2014 purchase of the Sigma Mill and associated mineral titles, including the past producing Sigma and Lamaque Mines. All environmental, exploration, and mining permits are in place at Parallel, a number of which were acquired through the mill acquisition and subsequently transferred to Integra.
“The results announced today continue to support our high level of confidence in both the continuity and grade of the gold mineralization at the Parallel deposit. While the Triangle Zone has emerged as the primary focus at Lamaque South, the Parallel Zone remains a great potential option for a supplementary source of high-grade mineralized material to be accessed and processed during the production phase at Lamaque,” commented Company President and CEO Stephen de Jong. “Once final results become available they will be integrated into the Parallel Zone geological model which will be followed by an updated resource estimate.”
A map locating the various targets throughout the Lamaque South property is available by clicking on the URL below:
Results from Parallel Infill and Metallurgical Drilling
The Company completed 26 holes totaling 5,578 m of drilling at Parallel in 2015. The objective of this program was to complete an infill drill program using a 20 to 25 m drill spacing pattern while also collecting additional core samples for the Phase IV metallurgical testing program at Parallel. Results for an additional 12 drill holes representing approximately 1,822 m will be disclosed as they become available. The following table provides highlights from the results disclosed today:
|Drill Hole||From(m)||To(m)||Interval(m)*||GoldAssay (g/t)**|
*Down-hole thickness; true width varies depending on drill hole dip; most 2015 drill holes were aimed at intersecting the vein structures close to perpendicular therefore true width are close to down hole width
**1.00 g/t Au cut-off; individual assay values uncut, follow links to full assay table above for interval with cut values; no minimum thickness
To view a complete table of available composited results for the 2015 drilling at Parallel please click on the following link:
Drilling at Parallel aimed at testing the internal and lateral extensions of previously known gold mineralized zones, including the 6b Zone, which is one of the highest grade and most continuous vein structures at Parallel. Results continue to confirm the internal continuity of the mineralized zones while helping to set the lateral limits of the deposit for future resource estimation control and enhancements.
To view a location of the 2015 drill holes, including those for which results are still pending, please click on the following link:
2015 and 2016 Drilling Programs
There are currently six diamond drill rigs currently active at the Triangle Zone and the No. 4 Plug. The Company plans to drill between 7,500 m to 9,000 m per month for the balance of 2015 bringing the total amount of 2015 drilling at Lamaque to approximately 90,000 m. Drilling will be suspended at the end of December for a two week period and is expected to resume in January 2016 with up to 10 drill rigs. The Company’s 2016 drilling program is expected to consist of up to 100,000 m of extensional and infill drilling at Triangle and No. 4 Plug as well as other exploration targets.
Project and Company Profile
Integra’s Lamaque South Gold Project and Sigma-Lamaque Mill and Mine Complex are located directly east from the city of Val-d’Or along the prolific Abitibi Greenstone belt 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 focus is on exploring and if positive subsequently developing, subject to further underground exploration, its high-grade Lamaque South project. The Lamaque South property is divided into three clusters, the North, South and West cluster. 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.
The Lamaque South and Sigma-Lamaque exploration projects, jointly known as the Lamaque project, are under the direct supervision of Hervé Thiboutot, Eng., Senior Vice-President of the Company. Mr. Thiboutot is a Qualified Person (QP) as defined by the National Instrument 43-101 and has reviewed and approved 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
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.