Integra Gold Intersects 91.03 g/t Gold Over 1.0 Meter, 73.75 g/t Gold Over 1.0 Meter and 29.69 g/t Gold Over 3.0 Meters at Parallel Zone
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 19, 2014) - Integra Gold Corp. (TSX VENTURE:ICG) -
Press Release Highlights:
- Results indicate good continuity of gold mineralized high-grade zones
- High-grade mineralization encountered throughout Parallel Zone deposit
- All results today from drilling done above 300 m vertical depth
- Other significant intersections include:
- PV-13-22 with 23.94 g/t Au over 1.00 m
- PV-13-22 with 15.16 g/t Au over 4.00 m
- PV-13-22 with 16.98 g/t Au over 2.00 m
- PV-13-25 with 23.79 g/t Au over 3.00 m
- PV-13-26 with 19.72 g/t Au over 1.00 m
- PV-13-33 with 14.93 g/t Au over 1.00 m
Integra Gold Corp. (TSX VENTURE:ICG) ("Integra" or the "Company") is pleased to announce final results from its 2013 fall/winter Parallel Zone definition drill program at the Lamaque Gold Project located in Val-d'Or, Québec. The Company completed 12,589 m in 40 drill holes on the Parallel Zone, one of its highest grade zones located in the northern part of the Lamaque Project. Results announced today are from the final 20 holes of this program. The Company currently has three drill rigs operating at the Triangle Zone with a total of 7,050 m in 18 holes completed since January 4, 2014. No assay results are available to date.
"Preliminary interpretation of these results has confirmed the continuity of high-grade mineralization between existing drill holes. More importantly, these results continue to prove our geological model performs well in predicting the location of mineralized structures within the Parallel Zone. As this model is used for both resource estimation and mine planning, it will greatly influence our plans in the future. With all results from Parallel drilling now received, we will proceed with a resource estimate update which will be released later this year," commented Company President and CEO, Stephen de Jong. "The results announced today, along with the results disclosed earlier this month, will not be incorporated into our upcoming preliminary economic assessment ("PEA"), but will be included in future economic evaluations and resource estimations."
Drill result highlights include:
| Drill Hole Number | From (m) | To (m) | Interval (m)* | Gold Assay (g/t)** |
| PV-13-21 | 219.00 | 222.00 | 3.00 | 29.69 |
| PV-13-22 | 151.00 224.00 231.00 | 152.00 228.00 233.00 | 1.00 4.00 2.00 | 23.94 15.16 16.98 |
| PV-13-25 | 125.00 188.00 | 128.00 189.00 | 3.00 1.00 | 23.79 10.36 |
| PV-13-26 | 133.00 159.00 182.00 | 134.00 160.00 183.00 | 1.00 1.00 1.00 | 19.72 73.75 12.46 |
| PV-13-27 | 72.00 | 74.00 | 2.00 | 10.63 |
| PV-13-28 | 83.00 | 84.00 | 1.00 | 91.03 |
| PV-13-29 | 62.00 143.00 171.00 183.00 | 64.00 149.00 174.00 185.00 | 2.00 6.00 3.00 2.00 | 8.29 4.37 7.05 7.00 |
| PV-13-30 | 154.00 | 157.00 | 3.00 | 8.16 |
| PV-13-33 | 39.00 | 40.00 | 1.00 | 14.93 |
| PV-13-35 | 157.00 | 159.00 | 2.00 | 7.84 |
| PV-13-39 | 245.00 | 247.00 | 2.00 | 8.48 |
| * Down-hole thickness, true width varies depending on drill hole dip, most holes are set to intersect vein structures perpendicularly |
| ** 1.00 g/t Au cutoff - individual assay values uncut - no minimum thickness |
To view a complete table of composited assays for the results announced today (holes PV-13-21 to PV-13-39) please click on the following link:
http://www.integragold.com/i/pdf/2013-Composites-Table-for-Parallel-Zone_v2.pdf
To view a table of composited assays from the first 20 holes completed at the Parallel Zone, which were disclosed in a Company press release on February 11, 2014, please click on the following link:
http://www.integragold.com/i/pdf/2013-Parallel-Drill-Hole-Composites_v2.pdf
Parallel Definition Drilling Program
Drilling at the Parallel Zone focused on reducing the drill spacing to 25-35 m centers for the upper portion of the deposit, above the 300 m vertical threshold. Drill holes had previously been spaced approximately 50 to 75 m apart.
The objective of this program was to transfer inferred resources into the indicated category and to confirm mineralization continuity between existing drill holes. Preliminary indications are that mineralization is continuous between existing drill holes as well as between a number of the high-grade intercepts reported today. The majority of holes disclosed today intersected mineralization where the Company's geological model predicted it should occur, providing further confidence in the model as the Company moves forward. The most significant and high-grade intervals continue to come from Zone 6 which appears to be the most consistent and predictable structure at the Parallel Zone.
2014 Lamaque Drill Program
Planned drilling for 2014 at the Lamaque project has been set at a minimum of 40,000 m. This includes the current 20,000 m definition program at the Triangle Zone, definition drilling at the Fortune Zone, and exploration drilling at Plug No. 5 and Mine No. 3 targets. The Plug No. 5 and Mine No. 3 targets are not currently included in the Lamaque Project's total resource as the Company intends to conduct resource estimation on these targets in the latter part of 2014.
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 divided into three main clusters of mineralization, the North, South and West Cluster. The North Cluster consists of the Parallel, Fortune, No. 5 Plug, and No. 3 Mine Zones and is located approximately 1 km northwest from the South Cluster, which includes the No. 4 Plug, Triangle and Triangle South Zones. The Sixteen Zone and No. 6 Vein form the West Cluster.
Qualified Person
The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, Eng. and Senior Vice-President of the company, and Francois Chabot, Eng. and Operations and Engineering Manager of the Company, both Qualified Person ("QP") as defined by National Instrument 43-101, and Alain-Jean Beauregard, P.Geo., and Daniel Gaudreault, Eng., Geo. of Géologica Inc., both independent QP as defined by 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 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 disclosures in this release constitute 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.
