Integra Gold Intersects 37.7 g/t Gold over 4 meters, Adds Third Drill Rig to Lamaque Gold Project
02.03.2012 | Marketwire
- TRIANGLE ZONE DRILLING INCREASED TO 6,500 METERS- 2012 PROGRAM INCREASED TO 30,000 METERS
- DRILLHOLE TM-12-06 ALSO INTERSECTED 4.7 G/T OVER 10 METERS ABOVE THE HIGH GRADE ZONE
VANCOUVER, March 2, 2012 - Integra Gold Corp. (TSX VENTURE:ICG) (The "Company") is pleased to announce preliminary assays from the Triangle Zone's current drill program. Initial high-grade results indicate the potential for additional resources at this zone. Given the high grade of existing resources on the Triangle, 18.73 g/t inferred and 13.51 g/t indicated, this zone continues to be a top priority.
Eleven of eighteen scheduled holes have been drilled with the completion of this phase of the program planned for mid-April. A total of 3140 meters have been drilled to depths of up to 530 meters as part of the response to the recommendations made in the Estimate of Resources and Modeling of the Triangle Sector report published November 16, 2011. Drilling up to an additional 3400 meters in all directions has been proposed, of note; east towards the Donald property with some holes to test an intrusive in an area north of the zone in line with the #4 Plug and also to determine whether the Triangle Zone extends to the #4 Plug.
"Continuing to drill the Triangle Zone remains a high priority for the Company. This high grade gold zone has been validated and made compliant over the past 3 years and published its first resource in November, 2011. The replication, although preliminary, of high grade intersects in this current drill session adds to the Company's incentive to explore the extents of this zone in all directions," comments Company President and CEO, John de Jong. "The Triangle Zone's proximity to the #4 Plug and what lies between these two zones is something that the Company also intends to explore further."
Significant Drill Highlights:
Hole # From (m) To (m) Length (m) Au g/Mt
TM 12 - 06 184.00 194.00 10 4.71 g/T Au
And 196.00 200.00 4 37.70 g/T Au
To view a map highlighting the Triangle Zone, please click on the following link:
http://www.integragold.com/i/pdf/Zone-Locations.pdf
Resource Estimate for Triangle Zone
Gold Deposit
Name Metric Tonnes Grade (Grams per
Tonne - uncut) Ounces
Triangle Zone*** 140,840 13.51 g/t 61,168 indicated
Triangle Zone*** 220,788 18.73 g/t 132,987 inferred
*** For the Triangle Zone, an Ordinary Kriging (OK) estimator was utilized
OTHER UPDATES:
Sixteen Zone
The data is being compiled by Christian d'Amours of GeoPointcom in Val d'Or, Quebec and results are expected to be released shortly. Dependent on recommendations from GeoPointcom, additional drilling may take place on this zone in 2012.
PDAC
Please be sure to drop in at Booth #3147 on Sunday and Monday and at the Core Shack (Booth #5026) on Tuesday and Wednesday.
Company and Gold Project Location
Integra's Lamaque Gold Project is located in the Val-d'Or gold camp in the Province of Quebec, Canada, which is rated one of the best mining jurisdictions in the world. Infrastructure, human resources and mining expertise are readily accessible.
The Company's shares are tightly held by a number of private investors, institutions and a major gold producer, Shandong Gold International Mining Ltd. The Company's focus is to advance gold zones demonstrating potential for open pit mining and where gold resources can be added quickly to the reported gold resource of 800,799 metric tons, average grade 6.33 g/t for 162,962 ounces Troy gold indicated and 2,335,530 metric tons, average grade 6.91 g/t gold for 518,643 ounces Troy gold inferred.
The gold project shares its northeastern border with the producing Sigma Mine which has produced 4.7 million ounces of gold to date and has reported significant gold resources and reserves. On its northwest border the Main Plug produced the majority of its 4.7 million ounces of gold for the historic Lamaque Mine. The Agnico-Eagle Goldex Mine, located approximately 6 kilometers west, reported reserves of 3.4 million gold ounces (mine closed recently due to engineering difficulties), and directly west of Goldex is the producing Osisko Mine reporting reserves of 10.71 million ounces of gold.
The Lamaque Property is located about 550 km northwest of Montréal, Quebec. The property consists of four (4) contiguous mining concessions and twenty (20) mining claims for a total of 1,459 hectares, owned 100% by Integra.
QUALITY ASSURANCE - QUALITY CONTROL
Thorough quality assurance and quality control program (QA/QC) protocol was utilized on the project including duplicate, blank and standard samples for all the holes. The core samples were respectively submitted directly to ALS Laboratory Group and Bourlamaque Labs in Val-d'Or for preparation and analysis. Analysis was conducted on 1 assay ton samples. Analysis of gold was by fire assay, with a gravimetric finish on samples exceeding 5 g/t gold. The gravimetric assay results were used for the reported composite intervals. The Lamaque project exploration is under the direct supervision of Alain Beauregard, P.Geol., of Geologica Inc., an independent qualified person as designated by National Instrument 43-101, and Daniel Gaudreault, ing., Geol., an independent qualified person as designated by National Instrument 43-101, who has reviewed the technical content of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
John de Jong
CEO & President
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This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, any person in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
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 the Company's planned exploration activities, 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 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.
Contact
Integra Gold Corp.
John de Jong, CEO
604.629.0891
john.dejong@integragold.com
Integra Gold Corp.
Ariel Cobangbang
604.629.0891
604.229.1055 (FAX)
ariel.c@integragold.com
www.integragold.com