VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2012) - Integra Gold Corp. (TSX VENTURE:ICG) -
- OTHER SIGNIFICANT RESULTS INCLUDE:
- 17.18 GRAMS/TONNE ("G/T") GOLD OVER 2 METERS ("M")
- 13.04 G/T GOLD OVER 2 M
- 18.25 G/T GOLD OVER 1 M
- VEIN NO. 6 REMAINS OPEN LATERALLY AND AT DEPTH
Integra Gold Corp. (the "Company") is pleased to report final assay results from drilling earlier this year at the Vein No. 6 zone on its 100% owned Lamaque Project in Val d'Or, Quebec. The Vein No. 6 target area is located approximately 600 m west of the historic Lamaque Mine Main Plug, which produced over 3.6 million ounces of gold and was part of the Sigma/Lamaque complex which in total produced over 9 million ounces.
As part of its 30,000 m 2012 drill program, a total of 3,980 m in 12 holes were completed on this target in the spring. The main objective of the program was to follow-up, laterally and at depth, on intercepts reported in 2011 which included 8.32 g/t Au over 2 m and 5.51 g/t Au over 5 m.
Assays announced today are from drilling done earlier this year and are not part of the nearly completed 20,000 m portion of the 2012 drill program on the Company's highest priority target, the No. 4 Plug. Further results from ongoing drilling at the No. 4 Plug are anticipated in the near future as 18 holes, or approximately 18,000 m, have now been completed. Recent disclosed highlights from drilling at the No. 4 Plug include 945 g/t gold over 1 m and 111 g/t gold over 6 m (refer to press release dated July 19, 2012).
"These results from drilling at the No. 6 Vein give further credibility to the exploration potential at Lamaque. These are exceptional gold intersections, near surface, and within 600 meters of one of Quebec's most successful gold mines," commented Company President and CEO, Stephen de Jong. "The No. 6 Vein will not be a part of our upcoming resource and current drilling will continue to focus on zones that have sufficient work done to conduct a resource estimate although having secondary targets of this quality speaks to the long term potential at Lamaque. With the recent close of our oversubscribed financing the Company is in a position to execute on its objectives and continue to deliver results."
Highlights of mineralized intercepts include:
|* All uncut values - Composites with individual assay values cut to 68.6 g/t Au (2 oz./t Au) are presented in the detailed table (see link below)
To view the complete table of drill results, including disclosed 2011 results, please click on the following link:
To view a map highlighting results for the Vein No. 6 2012 drilling program please click on the following link:
The Vein No. 6 has an estimated east-west strike length of 250 m, extending to a vertical depth of up to 350 m. Gold mineralization is contained in two predominant vein types: veins interpreted to be tension veins dip at about 50° while steeper dipping veins at 75° are interpreted to be hosted in sub-vertical shears. The sometime stacked veins are hosted by a series of massive andesite/dacite and crystal/lapilli tuffs with several feldspar porphyry dykes, a geological setting similar to some of the gold bearing zones known to exist at the close-by Sigma Mine. True thicknesses of individual veins usually vary from 0.1 to 1.5 m. Veins are primarily composed of quartz-carbonate with lesser amounts of tourmaline and chlorite. Pyrite is the predominant sulphide but it is rarely present in quantities greater than 5%.
"Assuming a minimum mining width of 2 m, the vein system was estimated to contain an historical inferred resource of 117,000 tons grading 0.20 oz. Au/t (Blecha, June 3, 1986), the 2011 and 2012 drill program confirmed the presence of continuous mineralization at Vein No. 6 while new drill data have extended the zone laterally and at depth," stated Hervé Thiboutot, Vice President Exploration of the Company.
The historic estimate was completed prior to NI 43-101 and CIM Mineral Resources and Reserve Guidelines and therefore cannot be fully relied upon, the Company is planning to update the resource estimate at Vein No. 6 in 2013.
PROJECT AND COMPANY PROFILE
Integra's Lamaque Gold Project is located in the Val d'Or gold camp in the Province of Québec, Canada, about 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 accessible.
The project shares its northeastern border with the Sigma Mine which has produced 4.7 million ounces of gold to date, with 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, and directly west of Goldex is the producing Osisko Mine reporting reserves of 10.71 million oz. of gold.
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. The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, P.Eng. Vice-President of the company and 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.
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, including statements regarding the use of the proceeds from the private placement, 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.