Press Release Highlights:
- Other results include 54.43 g/t gold (“Au”) over 3.6 metres (“m”) in C5 step-out drill hole and 68.97 g/t Au over 2.2 m in C4 structure infill drill hole (all results uncapped)
- Highest gold intercepts ever reported in C2 structure
- 12.7 m (8.8 m estimated true thickness) intersection in drill hole TM-16-152 occurs 150 m below surface and is in close proximity to the planned route of the exploration decline now underway
- 246 m of development completed in exploration decline as of Sept. 16, 2016
- 5 drill rigs are currently active on the Lamaque Gold Project
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 South Gold Project (“Lamaque”) in Val-d’Or, Québec. Results continue to support internal gold zone continuity and lateral expansion potential with infill and step out drill holes intersecting significant high grade gold mineralization. Results announced today are from 16,950 m of drilling conducted in 2016 and assays are currently pending from an additional 40,400 m (133 drill holes) of diamond drilling at Triangle.
“We are excited to have one of the best intersections ever drilled at Triangle located near surface and in an area of the deposit we will soon have access to via the exploration ramp now being constructed,” commented Company President and CEO, Stephen de Jong. “In addition to the near surface success we are encouraged by the impressive growth potential the C5 structure is now exhibiting with mineralization over meaningful widths discovered in multiple drill holes beyond the limit of the previous resource estimate.”
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 width are close to downhole width (approximately 85% conversion ratio); true width of C structures intercepts are presented on longitudinal sections.|
|(2)||For known mineralized zones, intervals are based on geological observation, 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 cap (when applicable) with individual values capped at 34.3 g/t Au; no minimum thickness considered.|
The following table provides individual sample results for the high grade intersection in drill hole TM-16-152:
Click on the following link to view a complete table of available composited results for the 2016 drilling at Triangle (drill holes disclosed today are identified in red font).
Infill Drilling on the C2 Structure Highlights Excellent Internal Zone Continuity with Significant High Grade Gold Mineralization
The C1 and C2 structures host the majority of the gold mineralization in the upper portion of Triangle and are the focus of an extensive infill drilling program conducted at roughly 25 m centers with the objective of proving internal continuity of gold mineralization while, at the same time, being used as a guide for the underground exploration ramp that was initiated in July of this year. Today’s results are some of the best to ever be reported at Triangle, in particular for drill hole TM-16-152 reporting significant high grade gold mineralization: 70.59 g/t Au over 12.7 m (19.36 g/t Au when capped at 34.3 g/t Au, downhole width, 8.8 m in true thickness, 150 m from surface). Of particular note is that numerous, at times consecutive, 1 m intervals grading above 34.3 g/t Au are reported in this drill hole demonstrating that high grade mineralization is widespread throughout the entire interval, a characteristic that appears to apply to the C type structures.
Other significant intervals reported from the C2 structure include:
- 10.10 g/t Au over 4.4 m;
- 9.19 g/t Au over 3.3 m;
- 10.96 g/t Au over 3.2 m;
- 8.72 g/t Au over 4.0 m, and;
- 9.84 g/t Au over 4.1 m.
All of the above results contribute to demonstrating the lateral continuity of gold mineralization in the C2 structure.
As illustrated in the longitudinal sections for C2 (see link below), results from numerous intercepts in that structure are still pending. Note that true thickness of intervals are indicated on all longitudinal sections and will differ from downhole lengths reported in the drill table.
To view a cross section of Triangle and No. 4 Plug Deposits please click on the following link:
Infill Drilling at C4 Showing Mineralization Continuity
Infill drilling at C4 also continues to successfully demonstrate mineralization continuity. The results disclosed today report several high grade intercepts demonstrating the potential for the C4 structure to continue to deliver resource potential in deeper parts of the Triangle Deposit (below 450m vertical). To date, C4 is the largest and most continuous of the high-angle C-type structures at Triangle.
Results from this zone reported today include: 22.40 g/t Au over 4.0 m (TM-16-119M01, 16.59 g/t Au when capped at 34.3 g/t Au, downhole width) and 68.97 g/t Au over 2.2 m (TM-16-122, 25.87 g/t Au when capped at 34.3 g/t Au, downhole width) which are respectively located in the center and on the eastern upper end of C4.
As illustrated in the attached vertical longitudinal section of the C4 structure (see link below), additional results are pending from multiple infill and extensional drill holes at various depths ranging from 325 m to 825 m vertical.
The C5 Structure Continues to Expand
New results from extensional drilling of the C5 structure continue to show potential for lateral extension of the structure. At C5, gold mineralization appears to commence at approximately 500 m vertical and extend to at least 800 m vertical. Today’s reported intercepts include 54.43 g/t Au over 3.6 m (TM-16-118, 11.05 g/t Au when capped at 34.3 g/t Au, downhole width) and 8.42 g/t Au over 4.0 m (TM-16-119M01, downhole width). These additional high grade gold intersects indicate substantial resource potential upside with C5 currently accounting for only a small portion (<10%) of the resource at the Triangle deposit.
The C5 structure, which has had materially less drilling completed on it compared to the C4 structure, is viewed as a potential area of accelerated growth and will continue to be tested from surface and later from underground utilizing the exploration decline at Triangle.
Please review the attached vertical longitudinal section of the C5 structure by clicking on the link provided below.
High Grade Mineralization Identified in between C-Type Structures
In addition to the mineralization identified in the primary C structures, high grade gold bearing intercepts continue to be identified in between the well-defined structures, demonstrating the possibility for additional mineralized structures to occur in between the main zones identified. These new mineralized zones represent additional resource upside that will be evaluated during future resource modelling and estimation and through close spaced underground drilling once underground access is granted.
Some the significant results include (all results uncapped):
- 22.81 g/t Au over 1.3 m (TM-16-117A);
- 35.01 g/t Au over 0.5 m (TM-16-118);
- 52.89 g/t Au over 0.5 m (TM-16-132);
- 10.24 g/t Au over 3.3 m (TM-16-133AW01);
- 23.18 g/t Au over 1.0 m (TM-16-144M02);
- 35.31 g/t Au over 2.3 m and 13.06 g/t Au over 1.0 m (TM-16-151).
Lamaque Project Exploration Program Summary
In 2016 a total of 95,400 m in 261 drill holes have thus far been completed at Lamaque South, of which 81,750 m in 232 holes were completed on Triangle. Drilling is ongoing with 5 drill rigs currently in operation. The results announced today are from 42 drill holes (including 19 partial reports) representing 16,950 m. As of September 19, 2016, drill results are still pending from an additional 150 drill holes at Lamaque representing 45,975 m. At Triangle alone there are pending results for 133 drill holes representing 40,400 m. 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 mineralized shear zones (“C” structures) structurally spaced at 125 to 150 m intervals, hosting gold-bearing quartz-carbonate-tourmaline veins, which host the majority of the deposit’s gold resources. 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 320m and 875m vertical, and the recently identified C7 structure is presently known to extend from at least 975 m to 1,150 m vertical. 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 mid-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 vertical. 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 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 exploration potential, this acquisition removed major costs and shortened timelines typically associated with mine projects. With a current market capitalization of approximately $350 million, Integra has raised over $100 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 and from the AA finish if lower than 5 g/t.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong
CEO & President
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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.