VANCOUVER, BC–(Marketwired – May 31, 2017) – Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF)
Press Release Highlights:
- The 2017 infill and expansion drill program completed on the west side of the No. 4 Plug Deposit (“No. 4 Plug”) intersected both sub-vertical shear hosted veins and zones of flat tension vein clusters where expected in the Company’s geological model, confirming that the mineralization extends at least 50 m to the west at No. 4 Plug.
- Sub-vertical shear zone intercepts include:
- 14.81 g/t gold (“Au”) over 6.90 meters (“m”) (11.26 g/t Au capped at 34.3 g/t Au, 5.62 m in true thickness)
- 42.94 g/t Au over 4.00 m (15.63 g/t Au capped at 34.3 g/t Au, 3.57 m in true thickness)
- 7.42 g/t Au over 5.30 m (no capping required, 4.62 m in true thickness)
- Zones or clusters of flat tension veins include:
- 2.36 g/t Au over 65.65 m (no capping required, 56.96 m in vertical thickness)
- 2.58 g/t Au over 34.47 m (no capping required, 30.90 m in vertical thickness)
- 2.49 g/t Au over 14.10 m (no capping required, 11.53 m in vertical thickness)
- The No. 4 Plug is located 350 m north of the Triangle deposit
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF), (“Integra” or the “Company”) is pleased to announce results from its winter drill program on the No. 4 Plug situated on the Lamaque Gold Project (“Lamaque”) in Val-d’Or, Québec. The results announced today are from 7,820 m of drilling (25 drill holes) completed during winter 2017 at No. 4 Plug.
To view a location of gold deposits and targets at Lamaque please click on the following link:
Infill and Expansion Drilling at the No. 4 Plug Confirms Mineralization Styles and Geological Model, Extends the Zones Approximately 50 m to the West.
The objectives of the winter drill program at No. 4 Plug were to confirm the geological model interpretation while potentially extending the deposit to the west. Drilling not only confirmed the geological model but also locally enhanced and extended gold mineralization laterally.
Both sub-vertical shear zones, similar to those reported from the adjacent Triangle Deposit approximately 350 m to the south, and thick, lower grade zones of flat tension veins were intersected during this drill program. In the 2017 Preliminary Economic Assessment (“PEA”) (see press release dated February 27, 2017), only the sub-vertical shear zones were incorporated into the potential mine plan.
To view an idealized cross section of Triangle and No. 4 Plug please click on the following link:
The following table highlights selected intercepts from this set of drill results. Additional results for drill holes disclosed in this news release can be found at the link 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(1)||To||Core Length (m)||True Thickness (m)(2)||Average Grade (g/t Au)||Zone|
- Selection of mineralized intervals are based on geological observations. i.e. on the amount of quartz-tourmaline-sulfide veining; composites for high angle shear zones are selected using a 1.00 g/t Au cut-off; composites for veins clusters have a minimum of 1 g/t cut off over 10 m interval, allowing up to 5 m of below cut-off material internally; composited intervals are presented uncap and capped (when applicable) with individual values capped at 34.3 g/t Au; no minimum thicknesses considered.
- For high angle shears true thickness mean the thickness perpendicular to the zone contacts; for clusters true thickens mean vertical width.
To view the assay results table for drill holes released today please click on the following link:
To view a cross section showing today disclosed drill holes click on the following link:
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 $150 million since 2013, at successively higher share prices, despite depressed gold prices.
On May 15, 2017, Integra and Eldorado Gold Corporation separately issued press releases announcing that they had entered into a definitive agreement pursuant to which Eldorado Gold Corporation agreed to acquire all of the issued and outstanding common shares of Integra that it does not currently own.
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
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 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. 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.
Or visit the company website: www.integragold.com
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