Loading, Please Wait...
VANCOUVER, BC --(Marketwired - January 13, 2016) -
Press Release Highlights:
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF) ("Integra" or the "Company") is pleased to announce the first round of results from its fall 2015 / winter 2016 drill program on the Triangle deposit ("Triangle") on the Lamaque South Gold Project ("Lamaque") located in Val-d'Or, Québec.
"Results from the ongoing exploration program at Triangle continue to show substantial resource growth potential with the majority of assays reported today coming from holes drilled outside of the current resource envelope. The bulk of Triangle is largely shown to be hosted within a series of sub-parallel and stacked C structures, C1 to C6, displaying a certain degree of periodicity. We can confirm today that we have intersected yet another significant C-type structure hosting high gold grades, below a depth of 1,000 m vertical. In our view, this further enhances the notion that drilling has yet to identify the lateral and depth limits of the primary C-type structures which make up the bulk of the gold ounces in the Triangle deposit," commented Company President and CEO, Stephen de Jong. "The discovery of new C-type structures in the first hole designed to test below the lower resource boundary is especially encouraging and we look forward to building on this discovery with additional drilling in the months to come."
A total of 91,859 m in 206 holes was completed at Lamaque South in 2015, of which 59,753 m were conducted at Triangle. The drill program was re-initiated on January 4, 2016 with 7 drill rigs currently in operation. The Company expects to drill approximately 90,000 m to 100,000 m in 2016 with the majority of drilling aimed at defining and expanding Triangle.
The results announced today are from 23 drill holes, including 5 abandoned holes and 5 wedges, for a total of 13,150 m. As of January 4, 2016, results are still pending from an additional 27 holes representing 19,000 m. Results from ongoing infill and extensional drilling at Triangle will be disclosed during the winter as they become available.
To view a location map of infrastructure and known gold deposits at Lamaque South please click on the following link:
Triangle Gold Deposit Drill Results
Drilling conducted during the 2015 fall campaign at Triangle focused on widely spaced step-out and extensional drilling of the C4 structure and on infill drilling within selected areas of the C1 and C2 structures. Sheared host rock sequences and alteration assemblages associated with gold bearing veins were observed in most holes where the C structures have been interpreted, hosting high and low grade gold mineralization, and corresponding to extensions of these structures. The Company's geological model as well as results highlighted in this release, continue to demonstrate the predictive nature of this deposit, further highlighting the potential for additional gold bearing horizons to exist at depth and on-extension.
The table below highlights selected results from the extensional drilling conducted on the C4 structure (identified as C4 in the right most column) and of infill drilling of the C1 and C2 structures. Intersections marked with CX-XX (i.e. "C1-60") are from shallow dipping structures present between C structures and intersections marked with a C? are C-type gold bearing structures that require additional interpretation within the context of the existing geological model. These zones will be modelled as part of the next resource estimate planned for later this year.
|Drill Hole #||
Assay (g/t) **
|*Down hole thickness; true width varies depending on drill hole dip; most 2015 drill holes were aimed at intersecting the vein structures close to perpendicular; therefore true width are close to down hole width (approximately 75% to 85% ratio)|
|**1.00 g/t Au cut-off; individual assay values uncut (follow link to full assay table for interval with individual cut values at 34.3 g/t Au); no minimum thickness considered|
Click on the following link to view a complete table of available composited results for the fall 2015 drilling at Triangle:
Click on the following link to view an updated longitudinal section of the C4 structure:
Discovery of New C-Type Structures at Depth
Assay results from the first deep drill hole at Triangle are highly encouraging, as they demonstrate the potential for further deep gold discoveries. Deep drilling has confirmed both the presence of gold and the continuity of the mineralized system to a vertical depth of over 1,400 m.
During the 2015 fall campaign, one drill hole, TM-15-038, collared in the center of the deposit (on section 296375 m East) and south of the Triangle intrusive, was extended to a down hole depth of 2,016 m (approximately 1,700 m vertical). At its final depth, the drill hole had deviated, as expected, and traversed the Triangle intrusive host rock, terminating 300 m east of its starting collar. The objective of this drill hole was to test the potential for gold mineralization in the footwall and within the intrusive host rock to a depth of 1,800 m vertical. Mineralization at the adjacent Sigma Mine extended to 1,800 m and beyond.
This deep drill hole intersected multiple horizons of horizontal to steeply dipping quartz-tourmaline-pyrite veining, the typical host for gold mineralization at Triangle, with local C type shear zones identified to down hole depths of up to 1,695 m (approximately 1,425m vertical). Below down hole depths of 1,100 m, and within the intrusive host, horizontal flat lying quartz veining appears to dominate resembling the gold-bearing mineralization assemblages at the adjacent No. 4 Plug deposit.
Multiple anomalous gold mineralized intervals were encountered (23 in total), with reported grades varying from of 1.04 g/t to 15.58 g/t Au. Down hole thicknesses varied from 0.5 to 5.8 m throughout the deeper part of the hole below a down hole depth of 1,100 m (i.e. structurally below the interpreted C6 structure -- see link to complete assay table for details). These intercepts clearly demonstrate the potential for further gold bearing horizons to occur at considerable vertical depths, outside of the existing resource boundaries. The new gold bearing intervals reported show geological characteristics typical of the steeply dipping C type structures and are presented in the table below.
|C Type Mineralized Structures in Hole TM-15-038|
One additional drill hole, TM-15-074 located 100 m to the west of hole TM-15-038, is currently being extended to a similar depth to test the potential for lateral extensions of the newly identified C-type gold bearing structures.
2016 Drilling Program
Given an abundance of positive results and further continuity highlighted in step out drilling at Triangle, the 2016 program at Lamaque will move ahead with 90,000 m to 100,000 m of diamond drilling planned for the year. The bulk of the drill program will be completed during the winter months. Seven drill rigs are currently active on the project with the potential to add three more rigs in the weeks to come if weather permits. Integra's planned 2016 drilling is one of the largest drill programs being conducted in the Canadian mining industry at this time.
The ongoing winter drill program includes exploration, extensional drilling, and definition drilling on numerous key targets such as Triangle and the No. 4 Plug deposit. The program will also include exploration drilling of promising new targets outlined in 2015 in geophysical surveys, geological mapping, surface sampling and reconnaissance drilling conducted in 2015; additional information on these new targets will be provided by the Company in follow-up news releases this year.
Geological Background for Triangle - Structural Setting
Gold mineralization at the Triangle Zone, highlighted by an abundance of quartz-tourmaline veins with minor amounts of pyrite, is interpreted to be predominantly hosted within a series of parallel, steeply-dipping shear structures identified as "C" zones. These high angle structures strike east-west and dip south at angles varying from 55 to 75 degrees. The associated "C Flat" structures, which dip from 20 to 45 degrees to the south with an east-southeast strike, are interpreted as second order structural splays developing from the more steeply dipping "C" structures. A third order of horizontal veining has also been identified and likely developing from the C structures; although distribution of this type of veining is not well defined in part due to drill spacing. All structures are gold mineralized although the "C" zones are generally thicker, steeper dipping and more continuous. The Company's predictive model as it relates to the "C", "C Flat" structures, and horizontal veining will continue to evolve as more drill data becomes available.
The Company's geologists have now identified and modelled six "C" structures, C1 to C6, while recent and ongoing drilling indicates that additional gold bearing, steeply dipping shear structures are present at depth structurally below C6.
Styles of gold mineralization encountered at Triangle bear striking similarities to those hosting gold mineralization at the adjacent, historic Lamaque and Sigma Gold Mines. The Lamaque and Sigma Mines jointly produced over 9.0 M ounces of gold and are located less than 2.5 kilometres ("km") from the Triangle Deposit in the same geological and structural domain as Triangle. At the Lamaque Mine, 80% of the gold production came from mineralization hosted within the intrusive host rock, while mineralization at the adjacent Sigma Mine is split almost 50/50 between the intrusive phases and the volcanic country rocks often derived from sub-vertical shear zones similar to the "C" type structures of Triangle. At the Sigma Mine some of these shear zones have been identified to have a strike length of greater than 1 km, similar to strike lengths being tested at Triangle in the current program.
The Company is currently conducting a review of its No. 4 Plug Deposit drill data, which is located some 400 m north of the Triangle deposit, to determine the potential for the "C" structures interpreted at Triangle to carry through to the No. 4 Plug Deposit. C-like structures have now been identified in drill core at No. 4 Plug, as well as in between the two deposits in a select number of wide spaced drill holes. Along with the re-interpretation of available data, the Company is completing approximately 10,000 m of drilling at No. 4 Plug to test the new hypothesis and refine the current geological model. The spatial and structural relationship between the No. 4 Plug and Triangle deposits is not dissimilar from what is seen between the Sigma and Lamaque Mines, where the Sigma shears which hosted the bulk of the gold mineralization at the Sigma Mine dip to the south and carry across to the Lamaque Mine itself. This hypothesis is also a key element in the Company's belief in the potential of its Lamaque Deep target (see News Release dated September 16, 2015). In September 2015, the Company announced a $1,000,000 crowd sourcing challenge where it is asking the public to help make its next big discovery. The result of this challenge will be presented during a special PDAC event to be held in March 2016. For more information on Integra's Gold Rush Challenge go to www.integragold.com/goldrush.
Project and Company Profile
Integra's Lamaque South Gold Project and Sigma-Lamaque Mill and Mine Complex are located directly east of the city of Val-d'Or along the prolific Abitibi Greenstone belt in the Province of Québec, Canada. Québec is rated one of the best mining jurisdictions in the world. Given the location of the project, near the city of Val-d'Or, infrastructure, human resources and mining expertise are readily available.
The Company's primary focus is its high-grade Lamaque South project. The Lamaque South property is divided into three clusters, the North, South and West clusters. The primary targets are the high-grade Triangle and No. 4 Plug deposits in the South Cluster and the Parallel Deposit in the North Cluster.
The Sigma Mill, a fully permitted 2,200 ton per day mill and tailings facility which was acquired by Integra in 2014, is located one km from the Parallel deposit and 3 km from the Triangle Deposit. The Sigma-Lamaque Mill and Mine Complex include the historic Sigma and Lamaque Mines which operated for 75 and 52 years respectively and produced more than 9 M ounces of gold in total.
The Lamaque South exploration project and Sigma-Lamaque Mill and Mine Complex, jointly known as the Lamaque project, are under the direct supervision of Hervé Thiboutot, Eng., Senior Vice-President of the Company, and Jacques Simoneau, P.Geo., Exploration Manager of the Company. Mr. Thiboutot and Mr. Simoneau are Qualified Persons ("QPs") as defined by the National Instrument 43-101. The Company's QPs have 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 the Bourlamaque Laboratory 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 atomic absorption (AA) finish, and a gravimetric finish is completed for samples exceeding 5 g/t Au. Metallic sieve assay is conducted, additional to the regular fire assay, for all samples containing visible gold. Results published are from the metallic sieve assay results is available, if not they are from the gravimetric finish if above 5 g/t and from the AA finish if lower than 5 g/t.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong
CEO & President
Follow Integra Gold On:
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.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosures in this release constitute forward-looking statements, including timing of completion of an updated resource estimate, timing of completion of an updated PEA and completion of the Sigma-Lamaque transaction. 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, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results 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, those matters identified in its continuous disclosure filings, including its most recently filed MD&A. 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.