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or Name
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CA



Integra Gold Corp
Symbol ICG
Shares Issued 439,943,002
Close 2016-06-07 C$ 0.65
Market Cap C$ 285,962,951
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Integra drills 5.9 m of 21.63 g/t Au at Lamaque South

2016-06-08 06:58 ET - News Release

Mr. Stephen de Jong reports

INTEGRA GOLD INTERSECTS 33.55 G/T GOLD (UNCUT) OVER 3.2 M IN C4 STRUCTURE STEP-OUT HOLE AND 21.63 G/T GOLD (UNCUT) OVER 5.9 M WITHIN C2 STRUCTURE AS DRILLING FURTHER CONFIRMS BOTH CONTINUITY AND GROWTH POTENTIAL AT TRIANGLE DEPOSIT

Integra Gold Corp. has released additional assay results from its fall 2015/winter 2016 drill program on the Triangle deposit situated on the Lamaque South gold project in Val d'Or, Que. In addition to an extensive surface drill program, the company is in the final stages of preparing for its first-ever underground exploration program at Triangle with the initial blasting scheduled to commence later this month.

Press release highlights:

  • Results received from the C4 structure continue to support internal continuity and lateral expansion potential;
  • Continuity and resource growth potential highlighted by continuing drilling, both infill and step-out drilling, of the near-surface C1 and C2 structures;
  • A new subparallel and high-angle C-type structure (C7), 150 metres structurally below C6, confirms potential for significant depth extensions at the Triangle gold deposit;
  • Results announced today are from 4,400 metres of recent drilling; assays are currently pending from an additional 73,140 m (179 drill holes) of diamond drilling at Triangle, the No. 4 plug and other key exploration targets;
  • Four drill rigs are currently active on the Lamaque gold project;
  • 101,900 m drilled at Triangle since previous resource estimate database cut-off (July 30, 2015);
  • Company on track and fully financed to commence underground exploration in June.

"Today's results continue to show both strong mineralization continuity and exciting resource growth potential within the C-type structures at the Triangle deposit. Step-out hole TM-15-018 announced today in addition to the other recent drill results have opened up the western portion of the C4 structure. The C4 structure already accounts for approximately 40 per cent of the Triangle deposit's resource," commented company president and chief executive officer Stephen de Jong. "In addition to this we are continuing to see both the C1 and C2 structures grow which is encouraging as they will make up the first phase of any contemplated mining scenario at Triangle."

To view a cross-section of the Triangle deposit please visit the company's website.

C4 drilling continues to expand mineralization

Results disclosed today include intercepts within C4, the largest, high-angle structure at Triangle, which continue to demonstrate the potential for growth with an interval grading 33.55 grams per tonne gold over 3.2 m (15.91 g/t Au when capped at 34.3 g/t Au, downhole width) on the western edge of that structure at a depth of 605 m vertical.

Additional results are pending from a minimum of six drill holes testing the western extension of that structure, 100 to 150 m west from previous drilling. Visual observations of those holes indicate that the structure is still open to the west with varying amounts of mineralization.

Continuity and resource growth potential for the C1 and C2 structures

The C1 and C2 structures host the majority of the gold mineralization for the upper portion of Triangle. Today's results are significant as high-grade gold mineralization continues to be identified at relatively shallow depths (above 475 m vertical). These results both confirm the continuity of these upper zones as well as show the potential for near-surface lateral resource expansion along strike.

Intercepts disclosed today include the following significant results in both the C1 and C2 structures (downhole widths, intercepts uncapped -- refer to the table for capped results).

In the C1 structure:

  • 10.43 g/t Au over three m in hole TM-16-126B;
  • 8.86 g/t Au over 2.5 m in hole TM-16-126BM02.

In C2 structure:

  • 7.25 g/t Au over 7.5 m in hole TM-16-126BM02;
  • 21.63 g/t Au over 5.9 m in hole TM-16-146M03.

Significant results are also reported in shallower-dipping C-Flat structures between the high-angle C2 and C3 structures:

  • C2-70 -- 17.67 g/t Au over 2.1 m in hole TM-16-086;
  • C2-80 -- 17.29 g/t Au over three m in hole TM-16-126BM02.

Results from numerous intercepts in the C1 and C2 structures are still pending.

Additional C structure (C7) identified at depth

Continuing interpretation of drilling completed since August, 2015, has confirmed the presence of an additional subparallel, high-angle C-type shear structure located 150 m structurally below the C6 zone. The C7 structure remains open in all directions and presently extends from a depth of 975 m to 1,150 m vertical. Results from additional holes drilled below 1,150 m vertical are pending.

Results from this new zone include:

  • 8.14 g/t gold over 4.2 m (TM-15-038, previously reported);
  • 6.11 g/t gold over 2.4 m (TM-16-146M03, reported in table).

Visit the company's website to view the C7 long section.

High-grade mineralization identified between C-type structures

In addition to the mineralization identified in the primary C and C-Flat structures, high-grade gold-bearing intercepts continue to be identified between the well-defined C structures, demonstrating the possibility for additional mineralized structures to occur. These new mineralized zones represent additional resource upside which will be fully evaluated once underground access is completed.

Uncapped results include the following (all downhole widths, refer to assay table for capped results):

  • 37.96 g/t Au over 0.5 m in hole TM-16-086;
  • 66.95 g/t Au over 0.6 m in hole TM-16-146M03;
  • 57.94 g/t Au over 0.5 m in hole TM-16-146M03;
  • 31.47 g/t Au over 1.5 m in hole TM-16-146M03.

Visit the company's website to view an idealized cross-section of the Triangle zone and No. 4 plug.

Triangle drill results summary

The table highlights selected results from this tranche of drill results.

               TRIANGLE DRILL RESULTS SUMMARY

Drill hole         From         To   Interval    Gold assay
                     (m)        (m)        (m)(1)      (g/t)(2)

TM-15-018        679.50     682.70       3.20         33.55
Cap                                                   15.91
TM-16-086        111.40     114.90       3.50          6.22
                 332.00     334.10       2.10         17.67
Cap                                                   10.39
                 408.00     408.50       0.50         37.96
Cap                                                   34.30
TM-16-126B       131.50     134.50       3.00         10.43
Cap                                                    9.28
TM-16-126BM02    133.50     136.00       2.50          8.86
                 291.50     299.00       7.50          7.25
                 349.50     352.50       3.00         17.29
Cap                                                   16.75
TM-16-146M03     350.80     356.70       5.90         21.63
Cap                                                   10.31
                 932.70     933.30       0.60         66.95
Cap                                                   34.30
               1,038.40   1,039.80       1.40         19.75
               1,049.80   1,052.50       2.70         12.67
               1,054.10   1,054.60       0.50         57.94
Cap                                                   34.30
               1,077.60   1,079.10       1.50         31.47
Cap                                                   18.82
               1,145.90   1,148.30       2.40          6.11
               1,275.10   1,275.80       0.70         19.65
    
(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 
widths are close to downhole widths (approximate 
85-per-cent conversion ratio).
(2) For known mineralized zones, intervals are based on 
geological observation, that is on the amount of quartz 
veining using a minimum two m true thickness. For other 
intersections, a one g/t gold cut-off is used for 
compositing; individual composites are presented uncapped 
and capped (when applicable), with individual values 
capped at 34.3 g/t Au; no minimum thickness was considered.                                          
  

Visit the company's website to view a complete table of available composited results for the fall 2015 and winter 2016 drilling at Triangle.

Triangle deposit summary

Triangle is made up of a series of high-grade, parallel, steeply to moderately dipping mineralized C structures structurally spaced at 100 to 150 m, which host the majority of the Triangle deposit's gold resources. The C1 and C2 structures occur from surface to 300 m and 475 m vertical, respectively. The C4, C5, C6 structures occur between 320 m and 875 m vertically, and the newly discovered C7 structure is presently known to extend from at least 975 m to 1,150 m vertically. The lateral and downdip limits of mineralization for almost all of the Triangle C structures have yet to be identified.

Drilling conducted since August, 2015, at Triangle has focused on infill and step-out/extensional drilling within selected areas of the C1, C2, C4, C5 and C6 structures, and on deep testing of the Triangle deposit below 1,000 m vertically. Characteristic geological host units and alteration assemblages associated with gold-bearing veins present within the structures were observed in most drill holes to date. Continuing results continue to demonstrate the validity of the predictive nature of the geological model and associated high-grade gold-bearing vein structures.

Lamaque project exploration program summary

A total of 93,592 m in 203 holes were completed at Lamaque in 2015 of which 59,753 m in 104 holes were conducted at Triangle. In 2016, a total of 75,900 m in 197 drill holes have thus far been completed at Lamaque South. Drilling is continuing with four drill rigs currently in operation. The results announced today are from nine drill holes representing 4,400 m. As of June 1, 2016, drill results are still pending from an additional 179 drill holes at Lamaque representing 73,140 m; for the Triangle deposit alone there are pending results for 150 drill holes representing 57,220 m. Results will continue to be disclosed regularly as they become available.

Qualified person

The Lamaque project is under the direct supervision of Herve Thiboutot, Eng, senior vice-president of the company, and Jacques Simoneau, PGeo, exploration manager of the company. Mr. Thiboutot and Mr. Simoneau are qualified persons as defined by the National Instrument 43-101. The company's QPs have reviewed the technical content of this release.

Quality assurance/quality control

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 one-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 five g/t Au. Metallic sieve assay is conducted, in addition to the regular fire assay methods, for all samples containing visible gold. Results published are from the metallic sieve assay results, if available, if not they are from the gravimetric finish if above five g/t and from the AA finish if lower than five g/t.

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