VANCOUVER, BC–(Marketwired – May 06, 2015) – Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF)
Press Release Highlights:
- Step out drilling continues to significantly expand the Triangle Deposit along strike and to the south while remaining open laterally and at depth.
- TM-15-07 intersected 14.32 grams/tonne gold (“g/t Au”) over 4.5 m in the T-10/C4 Zone, approximately 190 metres (“m”) west of the closest previous intersection (TM-14-33 – 11.75 g/t Au over 13.0 m)
- Other significant intercepts reported today from the Triangle drill program include:
- TM-15-09 (Zone T13a/C4) – 16.49 g/t Au over 2.0 m;
- TM-15-14 (Zone T0a/C1) – 14.55 g/t Au over 6.0 m;
- TM-15-16 (Zone T5b/C2) – 9.78 g/t Au over 7.0 m;
- TM-15-18 (Zone T6/C2) – 6.05 g/t Au over 12.0 m;
- TM-15-20 (Zone T11/C4) – 13.44 g/t Au over 2.0 m;
- TM-15-24 (Zones T0b/C1, T5/C2) – 8.54 g/t Au over 4.0 m, 7.5 g/t Au over 5.0 m.
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF) (“Integra” or the “Company”) is pleased to announce additional drill results from its 2015 Triangle Zone extensional drill program on the Lamaque South Gold Project (“Lamaque”) situated in Val-d’Or, Québec.
Since the beginning of the year the Company has completed 44,525 m of diamond drilling in 99 holes with up to 8 drill rigs operating on several key targets. Of this drilling, approximately 27,800 m in 46 holes have been completed at the Triangle Zone.
The Triangle results announced today are derived from an additional 9 holes representing 6,443 m. To date, 16 holes totalling 11,450 m of drilling have now been released from the 44,525 m completed in 2015. Drilling at Triangle is focused on widely spaced step-out and extensional drilling of known mineralized zones laterally to the south, east and west, and at depth. The Triangle Zone holes disclosed in this news release are derived from drilling on the southern, eastern and western extensions of the deposit. The Triangle Zone is located in the southern part of the Lamaque project and contains the Company’s largest and highest grade indicated resource.
“With over 40,000 metres of drilling already completed in 2015 this was the busiest winter season in Integra’s history and has significantly advanced Lamaque South. Today’s results continue to confirm the significance of the Triangle Zone, with step out drilling successfully intersecting high grades over sizeable widths, hundreds of metres away from previous resource boundaries. The Triangle deposit remains open to the east, west, south and at depth and through ongoing exploration efforts continues to demonstrate its ability to grow,” commented Company President and CEO, Stephen de Jong.
2015 Triangle Extension Drilling Program
The objectives of the 2015 winter drilling program at Triangle were to assess the lateral extensions of the deposit and to depths of 900 m vertical. Due to the onset of spring conditions the Company has now demobilized most of its drill rigs with the intent to resume drilling during the summer months. Over the next two months, Company geologists and core technicians will continue to work through the backlog of core from the first four months of the year.
The winter program at the Triangle Zone alone was increased from an originally planned 20,000 m to the 27,800 m which have now been completed. The primary reason for this increase was the need for follow-up testing on certain zones where new gold mineralization was discovered. Drill holes disclosed in this news release are from sections drilled south, east and west of the previously established Triangle deposit resource boundaries. Selected significant drill intercepts from holes disclosed today are presented in the following table:
*Down-hole thickness, true width varies depending on drill hole dip; most 2015 drill holes were aimed at intersecting the vein structures in a perpendicular manner therefore down hole width are close to the estimated true width
**1.00 g/t Au cut-off; individual assay values uncut; no minimum thickness
To view a complete table of available composited results for the 2015 drilling at Triangle please click on the following link:
To view a location plan map of the drill holes disclosed today for Triangle please click on the following link:
To view a location map of infrastructures and known zones at Lamaque South please click on the following link:
Vertical “C” Structures Identified in Ongoing Triangle Modeling
Mineralization at the Triangle Zone, highlighted by the abundance of quartz-tourmaline veins with minor amounts of pyrite, is interpreted to be hosted within a series of parallel shear structures. These structures, identified as “T” zones in the Company’s geological model, strike east-west and are south-dipping at angles varying from 35 to 65 degrees. Ongoing modelling and interpretation of the mineralization occurrences and the incorporation of new drill results from 2015 drilling has led to the identification of additional vein-type mineralization present in distinctly separate parallel sub-vertical ductile shear zones, identified as “C” Zones in the geological model. C zones strike east-west and are southward dipping at 55 to 75 degrees. The Company has so far identified 38 shear-related structures (34 “T” Zone and 4 “C” Zone) within the intrusive and volcanic host rocks at the Triangle Zone. The “T” Zone shears are usually 15 to 25 m apart while the “C” Zone ductile shears are usually separated by 50 to 75 m of host rock.
T-10 / C-4 Zone at Triangle Continues to Expand with Step-Out Drilling
One distinct gold mineralized structure, the T-10/C4 zone, appears to be one of the thickest, highest grade portions of the Triangle Zone intersected to date. Prior to the 2015 winter drilling program, this zone carried approximately 30% of the Triangle Zone’s indicated resource. Results disclosed today for the T10/C4 zone are especially encouraging as they represent what the Company believes are significant lateral extensions (TM15-07 – 14.32 g/t Au over 4.5 m) over 190 m west of the closest drill hole completed in previous campaigns and used in previous resource estimates. In a previous press release dated March 24, 2015, the Company had also disclosed that the T10/C4 zone had been extended at depth up to 330 m down dip (TM-15-08 – 15.55 g/t Au over 5 m) from previous intercepts within the same structure. In addition, the dip orientation of the T10/C4 Zone appears to show that it is one of the steepest zones intersected to date at the Triangle Zone. Based on the interpretation of the results received so far from the 2015 drill program, the extension of this zone appears to be steepening as it gets deeper.
Using a 4 g/t cut-off on the T10/C4 zone, and not incorporating the results of this winter drilling, this zone contains an indicated resource of 431,900 tonnes grading 9.9 g/t gold for 138,160 ounces and an inferred resource of 103,400 tonnes grading 8.8 g/t Au for 29,410 ounces (see news release dated February 10, 2015). This previously interpreted resource is contained within in a mineralized panel shaped geometry measuring 265 m (east-west) and up to 265 m in the down-dip direction (north-south) averaging 3 to 5 m in true thickness. With the new drilling information, the T10/C4 Zone is now interpreted as a mineralized panel which has grown laterally to over 435 m in width (east-west) and over 450 m in down-dip length (north-south), with thicknesses varying from 2 to 10 m (true thickness). Additional assay results are pending from 6 drill holes to the west of the T-10/C4 Zone, 1 hole to the south situated 125 m down-dip from the deepest intercepts reported in TM-15-08 (15.55 g/t Au over 5.0 m), and 7 drill holes up to 200 m east of the nearest previous intercepts. In addition a set of 5 holes are testing the down-dip extension of the Triangle deposit up to 200 m below the T10/C4 structure.
With the objective of providing shareholders with a better visualization of the size and continuity of the T10/C4 zone, the Company has updated the vertical longitudinal section as shown in the following link. For clarification this is not a true longitudinal section along the plane of the vein, but a projection of the vein on to a vertical plane, vertical distances on the longitudinal will therefore be shorter than real down-dip distances:
As shown on this vertical longitudinal section the new intercepts reported in drill-hole TM-15-07 of 14.32 g/t Au over 4.5 m (3.0 m true thickness) and drill-hole TM-15-20 of 13.44 g/t over 2.0 m (1.5 m true thickness) represent significant step-outs that have the potential to significantly increase the size of the mineral resource envelope.
Additional Step-Out Results Outside of T-10 / C-4 Zone
A number of the significant intercepts disclosed in today’s news release are from other sections of the Triangle Zone which are closer to surface than the T10/C4 zone. These intercepts clearly show the potential for other Triangle associated mineralized zones to extend and potentially thicken beyond the intrusive host rock into the surrounding volcanics. The intercepts shown below are all outside of the known resource boundaries, between 25 and 100 m in the down-dip direction and up to 150 m west of the closest holes drilled in 2014. These intercepts clearly demonstrate the potential to expand known resources in near surface zones at Triangle.
- 14.55 g/t Au over 6.0 m in hole TM-15-14 (zone T0a/C1);
- 9.78 g/t Au over 7.0 m in hole TM-15-16 (zone T5b/C2);
- 12.04 g/t Au over 2.0 m in hole Tm-15-20 (zone T4/C2);
- 8.54 g/t Au over 4.0 m in hole TM-15-24 (zone T0b/C1);
- 7.50 g/t Au over 5.0 m in hole TM-15-24 (zone T5/C2);
- 8.11 g/t Au over 3.0 m in hole TM-15-24 (zone T7b/C3).
Historically, the neighbouring Lamaque mine produced 75% of its 4.5 million ounces from high grade veins hosted within the dioritic intrusive units, with approximately 25% coming from veins extending outside of the intrusive into the surrounding volcanics.
2015 Drilling Program Expanded from 50,000 m to 75,000 m
The Company has finished its winter drilling program on the Lamaque South Project with a total of 44,525 m completed utilizing up to 8 drill rigs. Due to positive results in step out drilling and a lower than anticipated cost of drilling the 2015 program has been expanded from 50,000 m to 75,000 m. The 2015 program is tasked at completing exploratory, extensional and definition drilling on numerous key targets including the Parallel ramp (condemnation drilling and metallurgical sampling), No. 3 Mine, No. 6 Vein, No. 4 Plug, regional geophysical targets, and the Triangle Zone. The remaining of 2015 planned drilling program will be completed during the summer and fall months.
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 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 Parallel Zone in the North Cluster and the Triangle Zone in the South Cluster. The recently acquired Sigma Mill, located 1 kilometer from the Parallel Zone and 3 kilometres from the Triangle Zone, is a fully-permitted, 2,200 ton per day mill and tailings facility. 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 exploration project and Sigma-Lamaque Mill and Mine Complex, jointly known as the Lamaque project, are under the direct supervision of Hervé Thiboutot, Eng., Senior Vice-President of the Company, and Francois Chabot, Eng., Manager Operations/Engineering of the Company. Both Mr. Thiboutot and Mr. Chabot are Qualified Persons (QP’s) as defined by the National Instrument 43-101. Alain-Jean Beauregard, P.Geo. and Daniel Gaudreault, Eng., Geo., of Geologica Inc., are responsible for the geological and technical supervision of the drilling and are independent QP’s 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 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
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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.
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