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Integra Gold Corp
Symbol ICG
Shares Issued 447,406,002
Close 2016-09-19 C$ 0.77
Market Cap C$ 344,502,622
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Integra Gold drills 12.7 m of 70.59 g/t Au at Lamaque

2016-09-19 10:45 ET - News Release

Mr. Stephen de Jong reports

INTEGRA GOLD INTERSECTS 70.59 G/T GOLD OVER 12.7 M (INCLUDES 269.71 G/T OVER 1 M, 197.66 G/T OVER 1 M AND 227.83 G/T OVER 1 M) IN SHALLOW C2 STRUCTURE INFILL HOLE (ALL RESULTS UNCAPPED)

Integra Gold Corp. has released additional assay results from its 2016 drill program on the Triangle deposit situated on the Lamaque South gold project in Val d'Or, Que. 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 in this press release are from 16,950 metres of drilling conducted in 2016, and assays are currently pending from an additional 40,400 metres (133 drill holes) of diamond drilling at Triangle.

Press release highlights:

  • Other results include 54.43 grams per tonne gold over 3.6 metres in C5 step-out drill hole and 68.97 grams per tonne gold over 2.2 metres in C4 structure infill drill hole (all results uncapped);
  • Highest gold intercepts ever reported in C2 structure;
  • 12.7-metre (8.8-metre estimated true thickness) intersection in drill hole TM-16-152 occurs 150 metres below surface and is in close proximity to the planned route of the exploration decline now under way;
  • 246 metres of development completed in exploration decline as of Sept. 16, 2016;
  • Five drill rigs are currently active on the Lamaque gold project.

"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 Integra's president and chief executive officer, 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 attached table highlights selected intercepts from this tranche of drill results. Detailed results are presented on the company's website. Individual composites are disclosed as both uncapped and capped (when applicable) with individual values capped at 34.3 grams per tonne gold.

Drill hole No.               From           To     Interval   Gold assay
                               (m)          (m)       (m)(1)     (g/t)(2)

TM-16-117A                 530.00       531.30         1.30        22.81
                           403.50       404.00         0.50        35.01
                           Capped                                  34.30
                           610.00       614.50         3.60        54.43
TM-16-118                  Capped                                  11.05
                         Includes                      0.60       294.54
                           631.50       632.00         0.50        24.67
                           284.00       288.40         4.40        10.10
                           499.50       501.00         1.50         7.04
TM-16-119M01               568.00       572.00         4.00        22.40
                           Capped                                  16.59
                           742.00       746.00         4.00         8.42
                           488.10       490.30         2.20        68.97
TM-16-122                  Capped                                  25.87
TM-16-125BM01              280.80       284.10         3.30         9.18
TM-16-129                  199.00       201.50         2.50         7.00
                           205.40       208.60         3.20        10.96
TM-16-132                  238.00       238.50         0.50        52.89
                           Capped                                  34.30
TM-16-133A                 326.00       332.00         6.00         6.44
TM-16-133AW01              143.70       147.00         3.30        10.24
TM-16-133AW01M01           143.90       148.50         4.60         7.31
TM-16-135                  111.00       117.00         6.00         9.38
                           114.50       121.00         6.50         7.41
TM-16-135M01               155.00       157.00         2.00         6.89
                           289.00       293.00         4.00         8.72
TM-16-136                  203.20       204.60         1.40        12.38
TM-16-144M02               178.50       179.50         1.00        23.18
                            48.50        51.50         3.00        12.01
TM-16-145                  Capped                                   9.61
                           117.40       121.50         4.10         9.84
                           126.50       128.80         2.30        35.31
TM-16-151                  Capped                                  27.55
                           185.80       186.80         1.00        13.06
                           163.30       176.00        12.70        70.59
                           Capped                                  19.36
TM-16-152                Includes                      1.00       269.71
                              and                      1.00       197.66
                              and                      1.00       227.83

(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 (approximately 85-per-cent conversion ratio).
(2) For known mineralized zones, intervals are based on geological 
    observation (that is, on the amount of quartz veining) and a 
    one-gram-per-tonne-gold cut-off for compositing in intervals 
    outside mineralized zones; individual composites are presented 
    uncapped and capped (when applicable), with individual values 
    capped at 34.3 grams per tonne gold; no minimum thickness is 
    considered.

The attached table provides individual sample results for the high-grade intersection in drill hole TM-16-152.

From          To       Downhole        Gold
(m)           (m)      interval       assay 
                             (m)       (g/t)

163.30      163.90         0.60        0.63
163.90      164.50         0.60       20.78
164.50      165.50         1.00      269.71
165.50      166.50         1.00       74.65
166.50      167.00         0.50       24.56
167.00      168.00         1.00      197.66
168.00      169.00         1.00      227.83
169.00      170.00         1.00        0.49
170.00      171.00         1.00        0.06
171.00      172.00         1.00        6.79
172.00      173.00         1.00       39.19
173.00      174.00         1.00        0.69
174.00      174.70         0.70        0.29
174.70      175.50         0.80       32.56
175.50      176.00         0.50       56.12

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-metre centres 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, 2016. The results in this press release 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 grams per tonne gold over 12.7 metres (19.36 grams per tonne gold when capped at 34.3 grams per tonne gold, downhole width, 8.8 metres in true thickness, 150 metres from surface). Of particular note is that numerous, at times consecutive, one-metre intervals grading above 34.3 grams per tonne gold 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 grams per tonne gold over 4.4 metres;
  • 9.19 grams per tonne gold over 3.3 metres;
  • 10.96 grams per tonne gold over 3.2 metres;
  • 8.72 grams per tonne gold over four metres;
  • 9.84 grams per tonne gold over 4.1 metres.

All of the above results contribute to demonstrating the lateral continuity of gold mineralization in the C2 structure.

Results from numerous intercepts in the C2 structure are still pending.

Infill drilling at C4 showing mineralization continuity

Infill drilling at the C4 structure also continues to successfully demonstrate mineralization continuity. The results disclosed in this press release 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 450 metres vertical). To date, C4 is the largest and most continuous of the high-angle C-type structures at Triangle.

Results from this zone reported on Sept. 19, 2016, include: 22.40 grams per tonne gold over four metres (TM-16-119M01, 16.59 grams per tonne gold when capped at 34.3 grams per tonne gold, downhole width) and 68.97 grams per tonne gold over 2.2 metres (TM-16-122, 25.87 grams per tonne gold when capped at 34.3 grams per tonne gold, downhole width), which are respectively located in the centre and on the eastern upper end of C4.

Additional results are pending from multiple infill and extensional drill holes at various depths ranging from 325 metres to 825 metres 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 metres vertical and extend to at least 800 metres vertical. The reported intercepts on Sept. 19, 2016, include 54.43 grams per tonne gold over 3.6 metres (TM-16-118, 11.05 grams per tonne gold when capped at 34.3 grams per tonne gold, downhole width) and 8.42 grams per tonne gold over four metres (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 (less than 10 per cent) of the resource at the Triangle deposit.

The C5 structure, which has had materially less drilling completed on it compared with 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.

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 grams per tonne gold over 1.3 metres (TM-16-117A);
  • 35.01 grams per tonne gold over 0.5 metre (TM-16-118);
  • 52.89 grams per tonne gold over 0.5 metre (TM-16-132);
  • 10.24 grams per tonne gold over 3.3 metres (TM-16-133AW01);
  • 23.18 grams per tonne gold over one metre (TM-16-144M02);
  • 35.31 grams per tonne gold over 2.3 metres and 13.06 grams per tonne gold over one metre (TM-16-151).

Lamaque project exploration program summary

In 2016, a total of 95,400 metres in 261 drill holes have thus far been completed at Lamaque South, of which 81,750 metres in 232 holes were completed on Triangle. Drilling is continuing with five drill rigs currently in operation. The results announced in this press release are from 42 drill holes (including 19 partial reports) representing 16,950 metres. As of Sept. 19, 2016, drill results are still pending from an additional 150 drill holes at Lamaque representing 45,975 metres. At Triangle alone, there are pending results for 133 drill holes representing 40,400 metres. 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-metre-to-150-metre 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 metres and 475 metres vertical, respectively; the C4, C5 and C6 structures occur between 320 metres and 875 metres vertical; and the recently identified C7 structure is presently known to extend from at least 975 metres to 1,150 metres vertical. The lateral and downdip 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, as well as on deep testing of Triangle below 1,000 metres 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. Continuing 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'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-tonne-per-day mill and tailings facility.

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 qualified persons have reviewed the technical content of this release.

Quality assurance/quality control

Thorough quality assurance/quality control 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 one-assay-ton aliquots. Analysis of gold is performed using fire assay method with atomic absorption (AA) finish, with a gravimetric finish completed for samples exceeding five grams per tonne gold. Results published are from the gravimetric finish if above five grams per tonne and from the AA finish if lower than five grams per tonne.

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