Integra Gold Intersects 173.4 g/t Gold Over 3 meters at No. 5 Plug, Lamaque Gold Project26 Feb 2013, Categories: Metals & Mining, MiningSearch, TSX-V
Press Release Highlights:
— Other significant intersections from drilling at No. 5 Plug include:
— Drill Hole P5-12-10: 17.15 grams/tonne (“g/t”) gold (“Au”) over 1 meters (“m”)
— Drill Hole P5-12-11: 10.29 g/t Au over 1 m
— Gold mineralization identified from surface to a vertical depth of approximately 900 meters
— Mineralization and intrusive host rock remain open at depth
— Additional assays pending from drilling at Triangle Zone
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 26, 2013) – Integra Gold Corp. (TSX VENTURE:ICG) (“Integra” or the “Company”) is pleased to announce the remaining assay results from its 2012 drill program on the No. 5 Plug at its Lamaque Gold Project located in Val d’Or, Quebec. The No. 5 Plug is an exploration target within the North Cluster, 1,000 meters north of the Company’s primary zones, the Triangle Zone and No. 4 Plug that together form the South Cluster (see map link below).
No. 5 Plug Drilling Program
Drilling at No. 5 Plug is presently focused on defining gold mineralization on 50 to 100 m centers primarily on the upper portion of the intrusive plug, above the 600 m level, although significant gold mineralization has been discovered below this level. Results announced today are from the remainder of the 11 hole, 5,000 meter, program completed in December 2012. Drilling of the remaining 5,000 m of the initial 10,000 m program planned for the No. 5 Plug will begin once infill programs at both the Triangle Zone (4,500 m) and No. 4 Plug (4,000 m) have been completed.
The No. 5 Plug will not be included in the Company’s upcoming resource estimate, which is expected to be completed in Q2, 2013. The resource potential for this this target will be reviewed once the remaining 5,000 meters of drilling has been completed.
“The results announced today demonstrate that mineralization occurs throughout the intrusive plug while remaining open at depth. We are encouraged with the grade and frequency of veins being intersected at the No. 5 Plug and look forward to completing a further 5,000 meters of drilling at this target in the months to come,” commented Company President and CEO, Stephen de Jong. “Drilling will continue during the year on targets such as the No. 5 Plug, making for a steady news flow to accompany other major catalysts. The Company is well financed, actively drilling, and nearing completion of a resource estimate which will include over 35,000 meters of new drilling.”
Drill highlights at No. 5 Plug include:
|Drill Hole||From (m)||To (m)||Interval
|* Down-hole thickness, true width varies depending on drill hole dip|
|** 1.00 g/t Au cutoff – individual assay values cut to 68.6 g/t Au – no minimum thickness|
To view a complete table of composited assay results of recent drilling please click on the following link:
PDAC Investor Exchange 2013 – Booth #3147
The Company will be exhibiting at the 2013 Prospectors & Developers Association of Canada (PDAC) International Trade Show & Investor’s Exchange – the World’s largest convention for mineral exploration. Close to 27,000 attendees from over 120 countries are expected to visit this convention of over 1,000 exhibitors.
The Company wishes to invite all current and interested investors to visit Booth 3147 to discuss first-hand with management the latest exploration results and future plans for its Lamaque Gold Project.
The PDAC is being held at the Metro Toronto Convention Centre, South Building, and runs from Sunday, March 3 to Wednesday, March 6. Time and details can be found at www.pdac.ca.
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. The Lamaque Project’s primary target, the South Cluster, is 4 km from the City of Val d’Or. 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 split into two clusters, the North Cluster and the South Cluster, located approximate 1 km from each other.
South Cluster – No. 4 Plug and Triangle Zone
The South Cluster is the Company’s top priority, and currently has a high grade gold resource of 444,962 inferred ounces grading 11.06 g/t Au in 1,263,046 tonnes, and 61,168 indicated ounces grading 13.51 g/t Au in 140,840 tonnes. Over 27,000 meters of drilling has been completed on the South Cluster since the last resource estimate. An updated resource estimate is expected to be completed in Q2, 2013.
North Cluster – Parallel Zone, Forestel Zone and No. 5 Plug
The North Cluster hosts an NI 43-101 resource estimate of 69,981 inferred ounces grading 2.03 g/t Au in 1,072,484 tonnes, and 101,794 indicated ounces grading 4.8 g/t Au in 659,959 tonnes. An additional 8,000 meters of drilling has been completed on the North Cluster since the last resource which will also be included into the Q2, 2013 updated resource estimate.
The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, P.Eng. and 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 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 were 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 disclosure 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.
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.