Press release from Marketwire
Integra Gold Intersects 26.7 g/t Gold over 2.5 meters, 18.4 g/t Gold over 3.0 meters, and 7.36 g/t Gold over 10.0 meters at No. 4 Plug
Wednesday, May 16, 2012
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2012) - INTEGRA GOLD CORP. (TSX VENTURE:ICG) -
- ASSAYS REPORTED FROM FIRST 3 HOLES OF 8 COMPLETED TO DATE
- NUMEROUS GOLD BEARING INTERCEPTS REPORTED IN HOLES P4-12-02B AND P4-12-05
- OTHER SIGNIFICANT INTERSECTS INCLUDE 25 GRAMS/TONNE ("g/t") GOLD ("Au") OVER 1 METER ("m"), 13.49 G/T AU OVER 3 M and 11.5 G/T AU OVER 2 M
- 50% OF NO. 4 PLUG 2012 DRILL PROGRAM (16 PROPOSED HOLES IN TOTAL) COMPLETED
Integra Gold Corp. (the "Company") is pleased to announce that it has intersected numerous gold bearing zones in holes P4-12-02B and P4-12-05 as part of its Lamaque Property's No. 4 Plug definition drill program. The Company has now completed over 7,640 meters of drilling in 8 holes representing 50% of its 2012 planned drill program on the No. 4 Plug. The objectives of this high priority program are to confirm high grade intercepts reported in historic holes and expand the known mineralization both laterally and at depth.
Highlights of the intercepts reported from holes P4-12-02B and P4-12-05 include:
|Drill Hole||From||To||Interval||Grams/tonne gold|
To view complete drill tables please click on the following link: http://www.brmstatpack.com/lt/1005/1249/no.-4-plug-2012-drill-hole-results
Click on the following link to view a map of the Lamaque geological gold zones: http://www.brmstatpack.com/lt/1005/1247/lamaque-project-gold-zones
To view a map highlighting the # 4 Plug please click on the following link: http://www.brmstatpack.com/lt/1005/1250/no.-4-plug-insert-map
"The No. 4 Plug contains 46% of the Lamaque Gold Project's global resources, making it a high priority target for the Company in 2012. The zone remain open in all directions, including at depth, while its proximity to the high grade Triangle Zone makes the area one of the most significant gold bearing zone clusters on the project," comments Company President and CEO, John de Jong. "Drilling results continue to exceed our expectations and we are encouraged by the potential this brings to the entire gold project."
The No. 4 Plug resource calculation by Teck and audited by WGM and Geologica in 2004 (see NI43-101 Technical Report filed on SEDAR on June 23, 2011), was completed using a historic gold price which was much lower than current prices, with a relatively high cut-off grade set at 6.14 g/t Au. New drill data to be gathered in 2012 will be incorporated into the geological database and model to permit a resource estimate update of this zone. The updated resource estimate will reflect present-day market gold prices and associated significantly lower cut-off grades.
The specific objectives for the first two reported holes were to validate intercepts in holes T-89-02 and T-88-02, respectively, and assess continuity of gold mineralization laterally and at depth. The new holes ended up testing mineralization up to 25 m from their historic counterparts, achieving both objectives, with results still pending for parts of the two holes. All 2012 holes drilled to date on the No. 4 Plug have intersected quartz-tourmaline-sulfide veins directly associated to gold mineralization and hosted within the diorite plug; visible gold is reported in some of the veins.
To view the No. 4 Plug Historic Drill Hole Results, please click on the following link: http://www.brmstatpack.com/lt/1005/1252/no.-4-plug-historic-drill-results
Three drill rigs, two of which are on No. 4 Plug, continue to work towards achieving the Lamaque property 2012 objectives of increasing the gold resource and improving resource categories on seven of the thirteen gold zones known to exist on the property.
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 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 evaluate and enhance gold bearing zones demonstrating the potential to increase the resource from the reported inferred and indicated gold resource of 2,335,530 metric tonnes averaging 6.91 g/t Au for 518,643 ounces ("oz.") Au and 800,799 metric tonnes averaging 6.33 g/t Au for 162,962 oz. Au respectively.
The project shares its northeastern border with the producing 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
John de Jong, CEO & President
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Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release may 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
John de Jong Integra Gold Corp. CEO 604.629.0891 firstname.lastname@example.org
Ariel Cobangbang Integra Gold Corp. Investor Relations 604.629.0891 604.229.1055 (FAX) email@example.com www.integragold.com
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