VANCOUVER, BC--(Marketwired - May 05, 2017) -
Press Release Highlights:
- Triangle Deposit ("Triangle") at 3.0 g/t gold ("Au") cut-off base case: indicated resources increased 100% from 737,590 Au ounces to 1,473,530 Au ounces grading 7.32 g/t Au and inferred resources decreased 1% from 1,004,170 Au ounces to 991,800 Au ounces at an average grade of 5.67 g/t Au.
- Approximately 30,450 meters ("m") of new drilling has been completed at Triangle since the resource estimate cut-off date.
- 7 drill rigs currently in operation at Lamaque, including five drill rigs at surface on Triangle, one drill rig underground on the Triangle Exploration Ramp and one drill at Lamaque Deep.
- 901 m of development on the main Triangle exploration ramp (1,534 m total when including secondary development) have been completed to date. The ramp has reached the edges of the bulk sample target at the C2 structure of Triangle.
Integra Gold Corp. (TSX VENTURE: ICG) (OTCQX: ICGQF) ("Integra" or the "Company") is pleased to announce that it has filed on SEDAR the independent NI 43-101 Technical Report (the "Report") including the updated Mineral Resource Estimate for the Lamaque Gold Project ("Lamaque") located in Val-d'Or, Québec, as described in the Company's news release dated March 22, 2017. It is important to note that only the resource estimate for Triangle was updated in the Report. The effective dates for all other deposits on Lamaque can be found in the Report or in the news release dated November 16, 2016.
The Report is available on SEDAR under the Company's profile and on the Company's website at:
http://www.integragold.com/site/assets/files/2305/43-101_spring_2017_update_lamaque.pdf
Triangle Resource: Substantial Growth through Infill Drilling
The Report filed today incorporates 117,734 m of new drilling completed on Triangle in late 2015 and 2016, of which approximately 75% can be considered infill drilling. The Report shows a substantial conversion of inferred resources into indicated ounces, including a 100% increase in indicated resources at a 3 g/t Au cut-off. In addition, average grade of the indicated ounces also increased 4% at a 3 g/t Au cut-off, suggesting that continued close spaced infill drilling could have a positive impact on the average grade at Triangle.
The conversion of resources from the inferred category to the indicated category has had a minimal impact on total inferred resources at Triangle using a 3 g/t Au cut-off. This marginal decrease in inferred resources demonstrates the Company's ability to successfully replace ounces converted to the indicated category with new inferred ounces at Triangle. The growth in both categories is also a testament to the Company's multi-year, aggressive drill programs at Lamaque.
The following tables have been prepared to show the variance in tonnage, grade and ounces since the last resource estimate was completed at Triangle as well as the total resource at Lamaque.
Table 1. Triangle Deposit Only March 2017 Resource Estimate Compared to November 2016 Resource Estimate (3 g/t Au cut-off base case and 5 g/t Au cut-off sensitivity analysis)
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Triangle Deposit
Cut-off Grade Resource Date Indicated
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Grade Ounces
Tonnes (g/t Au) (Au)
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3.0 g/t Au March 2017 6,262,000 7.32 1,473,530
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November 2016 3,273,000 7.01 737,590
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+2,989,00
Variance 0 +0.31 +735,940
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+91% +4% +100%
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5.0 g/t Au March 2017 4,004,700 9.24 1,189,550
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November 2016 2,014,600 8.96 580,150
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+1,990,10
Variance 0 +0.28 +609,400
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+99% +3% +105%
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Cut-off Grade Inferred
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Grade Ounces
Tonnes (g/t Au) (Au)
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3.0 g/t Au 5,441,000 5.67 991,800
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4,500,400 6.94 1,004,170
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+940,600 -1.27 -12,370
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+21% -18% -1%
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5.0 g/t Au 2,501,100 7.85 631,200
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2,668,700 9.03 744,880
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-167,600 -1.18 -113,680
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-6% -13% -15%
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Table 2.
March 2017 Lamaque Property Global Resource Estimate (Base Case: 3 g/t Au
Cut-Off)
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Deposit Indicated Inferred
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Grade Ounces Grade Ounces
Tonnes (g/t Au) (Au) Tonnes (g/t Au) (Au)
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Triangle (1) 6,262,000 7.32 1,473,530 5,441,000 5.67 991,800
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No. 4 Plug (2) 505,448 6.67 108,443 915,903 6.84 201,464
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Parallel (3) 761,100 7.48 182,920 382,100 5.72 70,290
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No. 6 Vein (4) 462,800 5.60 83,450 362,000 6.40 74,240
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Fortune (5) 330,200 5.10 53,660 28,100 4.60 4,160
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Sixteen (6) 91,700 5.20 15,440 1,800 4.20 250
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Total 8,413,248 7.09 1,917,443 7,130,903 5.86 1,342,204
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Table 3.
March 2017 Lamaque Property Global Resource Estimate (Sensitivity Analysis:
5 g/t Au Cut-Off)
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Deposit Indicated Inferred
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Grade Ounces Grade Ounces
Tonnes (g/t Au) (Au) Tonnes (g/t Au) (Au)
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Triangle (1) 4,004,700 9.24 1,189,550 2,501,100 7.85 631,200
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No. 4 Plug (2) 300,417 8.56 82,634 579,432 8.59 160,028
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Parallel (3) 426,800 10.29 141,210 184,100 7.70 45,560
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No. 6 Vein (4) 201,300 7.90 51,280 239,800 7.50 58,080
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Fortune (5) 155,000 6.30 31,620 9,400 6.60 1,990
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Sixteen (6) 41,800 6.90 9,250 400 6.40 90
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Total 5,130,017 9.13 1,505,544 3,514,232 7.94 896,948
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- Triangle: Effective date is March 17, 2017; specific gravity of 2.8 g/cm
3 ; geologically constrained model with hard boundary; capping of 20 g/t Au on composites when estimated cells are more than 15 m from drill hole otherwise uncapped; composited to full length for each zone intersection before geostatistical analysis; 2 m minimum true thickness, if required diluted with in situ grade when assay results are available otherwise diluted with "zero" grade; ordinary kriging; 3 g/t cut-off calculated for official resource numbers. - No. 4 Plug: Effective date is October 28, 2016; specific gravity of 2.80 g/cm3; geologically constrained model with hard boundary; capping of 20 g/t Au on composites when estimated cells are more than 15 m from drill hole otherwise uncapped; composites are 1 m in downhole length before geostatistical analysis; 2 m minimum true thickness, if required diluted with in situ grade when assay results are available otherwise diluted with "zero" grade; ordinary kriging; 3 g/t cut-off calculated for official resource numbers.
- Parallel: Effective date is February 05, 2016; specific gravity of 2.80 g/cm3; geologically constrained model with hard boundary; capping of individual gold values at 100 g/t Au then capping of 20 g/t Au on composites when estimated cells are more than 15 m from drill hole otherwise uncapped; composited to 1 m downhole length before geostatistical analysis; 2 m minimum true thickness, if required diluted with in situ grade when assay results are available otherwise diluted with "zero" grade; ordinary kriging; 3 g/t cut-off calculated for official resource numbers.
- No. 6 Vein: Effective date is June 17, 2016; specific gravity of 2.80 g/cm
3 ; geologically constrained model with hard boundary; capping of 20 g/t Au on composites when estimated cells are more than 15 m from drill hole otherwise uncapped; composited to 1 m downhole length before geostatistical analysis; 2 m minimum true thickness, if required diluted with in situ grade when assay results are available otherwise diluted with "zero" grade; ordinary kriging; 3 g/t cut-off calculated for official resource numbers. - Fortune: Effective date is April 06, 2015; specific gravity of 2.82 g/cm
3 ; geologically constrained model with hard boundary; individual gold values uncap; composited to 1 m downhole length before geostatistical analysis; 2 m minimum true thickness, if required diluted with in situ grade when assay results are available otherwise diluted with "zero" grade; ordinary kriging; 3 g/t cut-off calculated for official resource numbers. - Sixteen: Effective date is November 18, 2013; specific gravity of 2.80 g/cm
3 ; geologically constrained model with hard boundary; individual gold values capped at 35 g/t Au; composited to 0.7 m downhole length before geostatistical analysis; 2 m minimum true thickness, if required diluted with in situ grade when assay results are available otherwise diluted with "zero" grade; ordinary kriging; 3 g/t cut-off calculated for official resource numbers.
Next Steps
The Company currently has seven drill rigs operating at Lamaque. Five drill rigs are operating from surface at Triangle as part of an expanded 100,000 m drill program and one drill rig has begun a 10,000 m underground drill program from the 74 m level of the Triangle Exploration Ramp. The seventh drill rig is located at the Lamaque Deeps target. Drill results will continue to be released as they become available.
The Triangle Exploration Ramp has advanced 901 m on the main ramp with 1,534 m in total development. The ramp has now reached the outer edge of the bulk sample target in the C2 structure. The bulk sample is scheduled to begin following the completion of the 10,000 m underground drill program.
Project and Company Profile
Integra Gold is a junior gold exploration company advancing projects in Val-d'Or, Québec, one of the top mining jurisdictions in the world. The Company's primary focus is its high-grade Lamaque South project. In the fall of 2014, Integra completed the accretive acquisition of the Sigma Mill and Mine Complex, a fully permitted 2,200 tonnes per day mill and tailings facility. With major federal and provincial permits in place, existing infrastructure and significant exploration potential, this acquisition shortened timelines typically associated with mine development projects. Integra has raised over $125 million since 2013, at successively higher share prices, despite depressed gold prices.
Qualified Person
The Lamaque project is 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. Mr. Christian D'Amours, P. Geo., OGQ #226, from GeoPointCom, is responsible for the completion of the resource update at Triangle and others deposits at Lamaque and is an independent QP as defined by the National Instrument 43-101. The Company's QPs have reviewed and approved the scientific and technical disclosure in this news 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 and ALS Laboratories 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, with a gravimetric finish completed for samples exceeding 5 g/t Au. Results published are from the gravimetric finish if above 5 g/t Au and from the AA finish if lower than 5 g/t Au.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong
CEO & President
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- Twitter: http://twitter.com/integragoldcorp
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 and results of future development studies, of a resource estimate on other deposits and the Sigma zone, and the results of future exploration work. 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 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. 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.
Corporate Inquiries:
Chris Gordon:
chris@integragold.com
Or visit the company website: www.integragold.com
