Press Release Highlights:
- Triangle deposit footprint continues to expand with step out drilling extending "C" structures both laterally and at depth
- The Company's working capital is $33 million, 8 drill rigs currently active on the Lamaque Gold Project
- Assays pending from an additional 21,500 metres ("m") of diamond drilling
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF), ("Integra" or the "Company") is pleased to announce the third round of assay results from its fall 2015/winter 2016 drill program on the Triangle deposit ("Triangle") on the Lamaque South Gold Project ("Lamaque") located in Val-d'Or, Québec.
"The bulk of the Triangle mineralization is hosted within a series of sub-parallel, steeply-dipping, stacked 'C' structures which demonstrate a high degree of periodicity and continuity. We are encouraged by the discovery of additional C type structures below the known limits of the Triangle deposit and are awaiting results from a number of deeper holes which were designed to test the extent of gold mineralization between 1,000 m and 1,500 m vertical depth," commented Company President and CEO, Stephen de Jong.
Triangle Gold Deposit Drill Results
Drilling conducted since September 2015 at Triangle focused on widely spaced step-out and extensional drilling of the C4/C5/C6 structures and on infill drilling within selected areas of the C1 and C2 structures. Characteristic geological host units and alteration assemblages associated with gold bearing veins present within the structures were observed in most drill holes, similar to those reported in previous news releases. The Company's geological model continues to demonstrate the predictive nature of these high grade gold bearing vein structures.
Results from step-out drilling conducted on the recently identified C6 mineralized structure at Triangle (approximately 100 m structurally below the C5 structure) extend the known limits of that structure up to 100 m further west of previous intercepts on C6, at a vertical depth of 750 m. This new uncut intercept in TM-15-066 assayed 80.32 grams per tonne gold ("g/t Au") over 5.5 m (including 437.06 g/t Au over 1.0 m; average 7.1 g/t Au over 5.5 m when high grade values are capped at 34.3 g/t Au), the reported thickness is a down hole width measurement.
In addition, significant high grade gold mineralization was reported in infill drilling on the C1 and C2 structures at relatively shallow depths (above 350 m vertical) extending and/or confirming the continuity of these zones along strike. Uncut intercepts include 77.83 g/t Au over 3.1 m in hole TM-15-074 in the C1 structure (including 118.24 g/t Au over 2.0 m; average 22.79 g/t Au when capped at 34.3 g/t); 18.00 g/t Au over 6.5 m in hole TM-15-075 (average 11.41 g/t Au over 6.5 m when capped at 34.3 g/t Au) and 9.69 g/t Au over 3.0 m in TM-15-078 in the C2 structure. All reported thicknesses are measurement of downhole widths.
The table below highlights selected results from the expansion drilling conducted on the C4, C5 and C6 structures and of infill drilling of the C1 and C2 structures.
|Drill Hole Number||From (m)||To (m)||Interval (m)(2)||Gold Assay (g/t)(3)||Interpreted Zone|
- Results from significant intervals are pending for those holes: for TM-15-050 results are pending from multiple intervals representing 985 m of core; for TM-15-074 results are pending from 813 to 1653 m down hole representing 840 m of core; for TM-15-078 results are pending from 47 to 336 m down hole representing 289 m of core.
- Down-hole thickness; true width varies depending on drill hole dip; most 2015-2016 drill holes were aimed at intersecting the vein structures close to perpendicular therefore true width are close to down hole width (approximately 85% conversion ratio).
- 1.00 g/t Au cut-off; individual assay values uncut (follow link to full assay table for interval with individual values capped at 34.3 g/t Au); no minimum thickness considered.
Click on the following link to view a complete table of available composited results for the fall 2015 and winter 2016 drilling at Triangle:
Click on the following link to view longitudinal sections of the main structures:
Potential for "C" Structures to Intersect the Adjacent No. 4 Plug Deposit: Interpretation Underway, 11,000 m of No. 4 Plug Drilling Completed and Assays Pending
Click on the following link to view a schematic composite section that presents the potential relationship of mineralization between the Triangle deposit and the No. 4 Plug deposit ("No. 4 Plug").
The Company recently completed 11,000 meters of drilling (assays pending) in and around the No. 4 Plug and is conducting a technical review of data from the No. 4 Plug which is located 400 m north of Triangle. The purpose of the review is to determine the potential for the "C" structures interpreted at Triangle to carry through to the No. 4 Plug. Sub-vertical shear zones similar to the "C" Zones at Triangle have now been identified and interpreted in drill core on the No. 4 Plug and are believed to be the significant control of the gold mineralization at the No. 4 Plug.
The style of mineralization at the No. 4 Plug consists of sub-vertical shear hosted veins and associated arrays of flat-lying tension veins. In some areas the combination of sub-vertical shear hosted veins and associated array of flat-lying tension veins can generate significant gold results over wide areas. Drilling between the two deposits is currently on-going with the objective to correlate the Triangle structures with the structures present at the No. 4 Plug. However, it is still too early to equivocally ascertain the continuity or relationship of the structures between Triangle and No. 4 Plug.
Over 11,000 meters of drilling has been completed in and around the No. 4 Plug target with assays pending. Step out drilling outside the main intrusive at the No. 4 Plug had not been conducted prior to the recently completed drill program.
The spatial and structural relationship between the No. 4 Plug and Triangle deposits is not dissimilar from the relationship shown between the Sigma and Lamaque Mines, where the Sigma shears which hosted the bulk of the gold mineralization at the Sigma Mine, dip to the south and were carried across on to the Lamaque mine property. These same shears were identified throughout the Lamaque Mine at various levels, down to a depth of 1,100 m from surface at Lamaque, but to a depth of over 1,800 m at Sigma.
2015-2016 Drilling Summary
A total of 93,592 m in 203 drill holes was completed at Lamaque South in 2015 of which 59,753 m in 104 drill holes was conducted at Triangle. In 2016 a total of 13,394 m in 33 drill holes have so far been completed at Triangle. Drilling is on-going at Lamaque South with 8 drill rigs currently in operation. The results announced today are from an additional 15 drill holes, including 6 drill holes for which only partial results are available, representing 7,378 m. As of early February, drill results are still pending from an additional 49 drill holes representing 21,435 m of core from Triangle. Results from ongoing infill and extensional drilling at Triangle, and other targets, will be disclosed during the year as they become available.
2016 Drilling Program
The Company anticipates drilling approximately 90,000 m in 2016 with the majority of this drilling aimed at defining and expanding the gold resource at Triangle. The bulk of the drill program will be completed during the winter months, with eight drill rigs currently active on the project. Integra's planned 2016 drill campaign remains one of the largest drill programs underway in the Canadian mining industry at this time.
The ongoing winter drill program includes exploration, extensional, and definition drilling on numerous key targets such as Triangle and the No. 4 Plug gold deposits. The program will also include exploration drilling of promising new targets outlined by geophysical surveys, geological mapping, surface sampling and reconnaissance drilling conducted in 2015; additional information on these new targets will be provided by the Company in follow-up news releases this year.
Project and Company Profile
Integra's Lamaque South Gold Project and Sigma-Lamaque Mill and Mine Complex are located directly east of the city of Val-d'Or along the prolific Abitibi Greenstone belt in the Province of Québec, Canada. Québec is rated one of the best mining jurisdictions in the world. Given the location of the project, near the city of Val-d'Or, infrastructure, human resources and mining expertise are readily available.
The Company's primary focus is its high-grade Lamaque South project. The Lamaque South property is divided into three clusters, the North, South and West clusters. The primary targets are the high-grade Triangle and No. 4 Plug deposits in the South Cluster and the Parallel deposit in the North Cluster.
The Sigma Mill, a fully permitted 2,200 ton per day mill and tailings facility which was acquired by Integra in 2014, is located 1 kilometre from the Parallel deposit and 3 kilometres from the Triangle deposit. 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 M 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 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 Laboratory 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. Metallic sieve assay is conducted, additional to the regular fire assay methods, for all samples containing visible gold. Results published are from the metallic sieve assay results is available, if not they 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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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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