Welcome To The Integra Gold HUB On AGORACOM
Integra Gold is a Canadian company focused on production planning for its high-grade Lamaque South project in one of Canada's premier gold producing districts, the "Valley of Gold," Val-d'Or, Québec
Message: Integra Gold Intersects 8.86 g/t Gold Over 8.3 m and 81.62 g/t Gold Over 2.0 m,
Extends Depth of Triangle Zone From 325 m to Over 600 m Vertical
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 5, 2013) - Integra Gold Corp. (TSX VENTURE:ICG)
Press Release Highlights:
- Intersection interpreted to represent true thicknesses, all holes intersected high grade mineralization;
Other significant intersections include:
- TM-13-12 with 20.68 grams/tonne ("g/t") gold ("Au") over 1.8 meters ("m") and 8.28 g/t Au over 8.0 m
- TM-13-13 with 24.90 g/t Au over 2.5 m and 14.59 g/t Au over 2.0 m
- TM-13-14 with 69.58 g/t Au over 1.7 m and 10.31 g/t Au over 2.5 m
- TM-13-15 with 7.50 g/t Au over 10.1 m and 8.56 g/t Au over 8.1 m
- Results from deep holes TM-13-12, TM-13-13, TM-13-14 and TM-12-15 extend gold bearing veins array, and intrusive unit host, to over 600 m vertical;
- Triangle Zone remains open at depth.
Integra Gold Corp. (TSX VENTURE:ICG) ("Integra" or the "Company") is pleased to announce further results of its 2013 winter drill program on the Triangle Zone at its Lamaque Gold Project located in Val d'Or, Québec. Highlights from results announced today include the deepest intercept ever recorded at the Triangle Zone with 81.62 g/t over 2.0 m from 621.0 m down hole in hole TM-13-15.
"These results continue to demonstrate the potential to expand known resources at the Triangle Zone, both laterally and at depth. The presence of high grade mineralization to a vertical depth of over 600 m vertical is particularly significant as this doubles the previously known depth extension of both the intrusive host rock and the gold bearing veins at Triangle. To put the results in context, the 9 million ounces produced from the adjacent Lamaque and Sigma Mines, 1 km to the north and with very similar geology, were mined from surface to depths of 1,000 and 2,000 meters, respectively," commented Company President and CEO, Stephen de Jong.
"Future drilling at the Triangle Zone will be directed to infill the Triangle Zone between 325 m and 650 m vertical as well as test the depth potential beyond the 650 m level. Due to the materiality of these high-grade results the Company is delaying the release of its pending resource estimate in order to incorporate the 2013 drill data. An update on timing of the resource estimate will be given once the data has been received and reviewed by the independent firm contracted to calculate resources at Lamaque."
Two of the four holes disclosed today, TM-13-14 and TM13-15 were drilled to evaluate the depth potential of the Triangle Zone to vertical depth greater than 600 m. Existing resources at Triangle are presently limited to those occurring between surface and 325 meters vertical. The two holes, on sections 50 m apart, intersected a minimum of 6 new gold bearing vein structures between 325 m and 625 m vertical. The intrusive host rock containing these vein arrays remains open at depth. The Triangle Zone is an advanced exploration target within one of the Company's primary target area, the South Cluster (see map link below).
Drill highlights reported today at Triangle include:
|Drill Hole||From (m)||To (m)||Interval (m)*||Gold
|* Down-hole thickness, true width varies depending on drill hole dip|
|** 1.00 g/t Au cutoff - individual assay values uncut - no minimum thickness (see link to table below for full results including individual assays cut to 68.6 g/t gold)|
To view a complete table of composited assay results of recent drilling please click on the following link:
Interpreted sections for the holes disclosed today are available on the following link:
2013 Lamaque Drill Program
Planned drilling for 2013 at the Lamaque project has now been increased to a minimum of 20,000 m, from the 17,000 m previously announced. Details on the expanded program will be disclosed when drilling commences, anticipated to happen in the next two to three weeks.
2013 Resource Update
Following the drilling results disclosed today the Company has decided to postpone disclosure of the 2013 resource update, originally planned for Q2, in order to assess the effect and integrate the new data as the drilling has the potential to have a material impact on the resource at Triangle Zone. The Company is also assessing the potential for bulk mining at the No. 4 Plug, to determine and evaluate if the economics of a bulk, potentially lower grade resource would be adequately offset by significantly less expensive mining and extraction costs. To have at least one bulk target is ideal for Integra as it creates further opportunities to utilize milling facilities in the immediate area for which the Company may otherwise not be able to provide sufficient tonnage. The majority of the 3.7 million ounces produced from the Main Plug at the neighbouring Lamaque Mine came from bulk targets, in which entire clusters of veins were mined together, a geological trait similar to mineralization at the No. 4 Plug.
Furthermore the Company has decided to incorporate two of the outer zones, Vein No. 6 and Sixteen Zone, to its resource disclosure statement. These zones were originally interpreted and modeled over 4 years ago, when the Company had a much less refined understanding of the geology and how it correlates with gold mineralization at Lamaque. Interpretation and modelling for these two zones has begun with resource calculation planned for later this summer.
Purchase of Net Smelter Royalty (NSR) on Bourlamaque Claims
The Company also announces that it has bought back the 2% NSR on its Bourlamaque property, an internal concession on the Lamaque Project consisting of two claims immediately east of the Triangle Zone, for a price of $5,000. Exploration plans for work on the Bourlamaque claims will be formulated and announced once all historical work has been compiled.
Project Site Visit
25 investment advisors, private investors, and portfolio managers were on site on May 29, 2013 for a one-day tour of the Lamaque project. The Company would like to thank all those who attended for their interest in the project and for making the time to take part in a tour of the Company's flagship asset. Investors/advisors interested in attending future visits please contact the Company's IR team at the number listed below.
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 split into two clusters, the North Cluster and the South Cluster, located approximate 1 km from each other. The Lamaque Project's primary target, the South Cluster, is 4 km from the City of Val d'Or.
South Cluster - No. 4 Plug and Triangle Zone
The South Cluster is the Company's top priority, and currently has a high grade gold resource of 444,962 inferred ounces grading 11.06 g/t Au in 1,263,046 tonnes, and 61,168 indicated ounces grading 13.51 g/t Au in 140,840 tonnes. Including 2013 drilling, over 34,000 meters of drilling has been completed on the South Cluster since the last resource estimate. An updated resource estimate is expected to be completed in 2013.
North Cluster - Parallel Zone, Forestel Zone and No. 5 Plug
The North Cluster hosts an NI 43-101 resource estimate of 69,981 inferred ounces grading 2.03 g/t Au in 1,072,484 tonnes, and 101,794 indicated ounces grading 4.8 g/t Au in 659,959 tonnes. An additional 8,000 meters of drilling has been completed on the North Cluster since the last resource which will also be included into the Q3, 2013 updated resource estimate.
The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, P.Eng. and Senior Vice-President of the company, a Qualified Person ("QP") as defined by National Instrument 43-101, Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, P.Eng., Geo. of Géologica Inc., both independent QP as defined by National Instrument 43-101. The Company's QP has 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 ALS Laboratory Group and Bourlamaque Labs 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 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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Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release constitutes 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.
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.
Source: Marketwired (Canada) (June 5, 2013 - 9:01 AM EDT)
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