Integra Gold Mobilizes 3 Diamond Drill Rigs, Commences 20,000 m Drill Program on High-Grade Triangle Zone
January 16, 2014 (Source: Marketwired) — Integra Gold Corp. (TSX VENTURE:ICG) (“Integra” or the “Company”) is pleased to announce the Company’s 2014 drill program at the Lamaque Gold Project has been initiated. Three drills have been mobilized at the Triangle Zone to commence a 20,000 m definition drill program that forms part of the total 40,000 m drill program planned for the Lamaque Project in 2014. The program at Triangle will test for lateral extensions of known zones with the objective of increasing near surface resources while also reducing overall drill spacing in the zone to enhance resource categories from inferred to indicated.
Previous drill highlights from the Triangle Zone include:
|Drill Hole||From (m)||To (m)||Interval*||Gold Value (g/t)**|
|*||Down-hole thickness, true width varies depending on drill hole dip|
|**||1.00 g/t Au cutoff – individual assay values uncut – no minimum thickness|
As part of this program the Company will be drilling the 175 m wide untested area between the Triangle Zone and drill hole TMS-13-07, which in late 2013 intersected 13.29 g/t Au over 7.0 m in volcanic units (see press release dated November 18, 2013). Results from the remainder of the 2013 South Triangle drill program are pending.
The discovery of high grade mineralization in the volcanics south of the Triangle Zone suggests similar gold vein distribution to that of the neighboring Lamaque Mine where 20% of the 4.5 million ounces of gold produced were hosted in the volcanics. The balance of production came from veins hosted within the intrusive units, much like those found at the Triangle Zone.
“This 20,000 meter drill program announcement kicks off a very busy and critical year for Integra Gold. With more than 40,000 m of drilling planned in the next 12 months, we are confident we will continue to see the Lamaque Project grow,” stated Stephen de Jong, President and CEO of Integra Gold.
The balance of the 40,000 m program to be completed in 2014 will take place in the Northern Cluster where 8,000 m of definition drilling is planned on the Fortune zone and exploration drill programs of 5,000 m and 6,000 m respectively for the No. 5 Plug and No. 3 Mine targets.
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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 on the project while advancing the existing resource towards development. The project is split into two main clusters, the North Cluster composed of the Parallel, Fortune, No. 3 Mine and No. 5 Plug, and the South Cluster, consisting of the Triangle, Triangle South and No. 4 Plug, located approximately 1 km from each other.
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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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 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.
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