Integra Gold Intersects 5.2 g/t Gold Over 13 Meters at Triangle Zone, Lamaque Gold Project
VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 4, 2013) -
Press Release Highlights:
Other significant intersections from the 2013 drilling at Triangle include:
TM-13-03 with 14.17 grams/tonne ("g/t") gold ("Au") over 2 meters ("m")
TM-13-08 with 12.20 g/t Au over 4 m
Gold mineralization identified in all 2013 drill holes
Mineralization remains open up and down dip from disclosed intercepts
2013 Triangle Zone drill program expanded from 4,500 m to 7,000 m
Integra Gold Corp. (TSX VENTURE:ICG) ("Integra" or the "Company") is pleased to announce the first assay results from its 2013 drill program on the Triangle Zone at its Lamaque Gold Project located in Val d'Or, QuƩbec. Highlights from results announce today include one of the widest mineralized zones ever intersected at the Triangle Zone, with 5.2 g/t Au over 13 m.
The Company has now completed 6,200 m in 14 holes of its recently expanded 7,000 m drill program. Results from the first eight drill holes were announced today with assays pending on the remaining six. Two of the last six holes tested the depth potential of the Triangle Zone and have intersected quartz veining at vertical depth greater than 500 m. This is especially significant as the Triangle Zone portion of the upcoming Lamaque Project resource update (expected Q2 2013) is limited to resources occurring between surface and 350 meters vertical. The results from the ongoing drilling program will be included in a subsequent resource update.
Existing NI 43-101 resources (press release Nov 16, 2011) for the Triangle Zone delineated with 8,500 m of drilling are:
Tonnes | Grade | Ounces | Category |
220,788 | 18.73 | 132,987 | Inferred |
140,840 | 13.51 | 61,168 | Indicated |
Approximately 10,000 m of drilling has been completed at the Triangle Zone since the completion of the above resource estimate. The Triangle Zone is an advanced exploration zone within the Company's primary target area, the South Cluster (see map link below).
Link to map: http://www.integragold.com/i/maps/Zone_map_Apr_3_2013.pdf
"The results announced today demonstrate that gold mineralization at the Triangle Zone extends both up and down dip from the recently interpreted, mineralized zones thereby increasing the resource potential for this target. The newly developed geological model continues to be validated with drilling, allowing us to predict the zone extensions with a higher degree of confidence," commented Company President and CEO, Stephen de Jong. "We are optimistic that Triangle's remaining 2013 drill holes will further enhance the potential of this zone."
Drill highlights at Triangle include:
Drill Hole | From | To | Interval | Gold |
TM-13-01 | 332.00 | 336.00 | 4.00 | 5.77 |
TM-13-02 | 58.00 | 71.00 | 13.00 | 5.15 |
TM-13-03 | 57.00 | 59.00 | 2.00 | 14.17 |
TM-13-06 | 232.00 | 233.00 | 1.00 | 7.08 |
TM-13-07 | 24.00 | 25.00 | 1.00 | 8.98 |
TM-13-08 | 244.00 | 248.00 | 4.00 | 12.20 |
* 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 links:
Link to table: http://www.brmstatpack.com/lt/1005/1321/triangle-2013-drill-hole-results
Triangle Zone 2013 Drill Program
Drilling at the Triangle Zone is focused on extending gold mineralized zones defined in the recently updated geological model being utilized to update the resource estimate. It should be noted that the 2013 Triangle drill assays will not be included in the resource estimate planned for release in Q2 of this year.
Drill holes were set to intersect the projection of the interpreted zones, either up or down dip, between 25 and 50 m from the limit of the model. To date, all holes have intersected the extension of the zones within a few metres of their projections, demonstrating the continuity and predictability of mineralization.
Previously, the deepest drill hole completed at the Triangle Zone tested mineralization to a vertical depth of 350 m. A number of drill holes in the 2013 program will test the potential for additional sub-parallel zones at vertical depth of up to 650 m. Of note, at the adjacent Plug No. 4, gold mineralization has been identified within the intrusive units to depth of more than 1,000 m.
Drilling at the Triangle has identified gold bearing zones consisting of a set of 5 sub-parallel vein arrays, spaced every 50 m, that extend laterally in an east-west direction for up to 350 m, dip to the south at 45 degrees, and extend for up to 200 m along dip while remaining open up and down dip. The gold bearing quartz-tourmaline-pyrite veins within the vein arrays vary in thickness from a few centimeters to a few meters while usually appearing in clusters within the mineralized zones. The host rock at Triangle is generally a fine to medium grain intrusive diorite with occasional occurrences within competent pyroclastics volcanic units.
2013 Lamaque Drill Program
A minimum program of 17,000 m is planned for the Lamaque Gold Project in 2013. Once the 7,000 m extension drill program at Triangle has been completed Integra will initiate a similar 5,000 m campaign at Plug No. 4. This program will attempt to validate the newly developed geological model as well as test for extensions to known gold mineralization. Following these two drill programs an additional 5,000 m of drilling will take place on the Plug No. 5 exploration target. Assay results on all three drill programs will be disclosed as they become available.
Other Ongoing Studies
Integra is also pleased to announce that as part of its focus on rapidly advancing and potentially developing Lamaque, it has initiated a socio-economic study on the project. AMEC was selected for this study thereby ensuring efficiency and consistency with the recently announced baseline and gap analysis studies. The Company also expects to complete a Preliminary Economic Assessment ("PEA") on the project in 2013 following the release of the updated resource estimation planned for disclosure in Q2, 2013.
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 QuƩbec, Canada, approximately 550 km northwest of MontrƩal. The Lamaque Project's primary target, the South Cluster, is 4 km from the City of Val d'Or. QuƩbec 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 69,681 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.
Qualified Person
The Lamaque exploration project is under the direct supervision of HervƩ 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 GƩologica 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.
