|By Marketwired .||
|February 5, 2014 09:00 AM EST|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/05/14 -- Integra Gold Corp. (TSX VENTURE: ICG) ("Integra" or the "Company") is pleased to announce it has commenced a drill hole cementing program at the Lamaque Gold Project in Val-d'Or, Quebec. The Company remains committed to its accelerated development schedule and will continue to de-risk the project by way of various value-adding initiatives. With the potential for underground exploration commencing as early as 2015, it is imperative that certain steps including the cementing and sealing of recent and historic drill holes be completed in a timely fashion. As certain areas of the project are best accessed during the winter months, the Company has elected to initiate this program now to ensure there are no delays in the future. The other three operating diamond drill rigs on the Lamaque Project are conducting infill drilling and testing for extensions of mineralization in and around the Triangle Zone.
"Our exceptional access to infrastructure in conjunction with the many advantages of having a near surface, high-grade resource allows us to set ambitious timelines for the development of the Lamaque Project. The cementing program announced today, much like the productive community information meeting attended by 300 persons last week in Val-d'Or, are evidence of our commitment to making the Lamaque Project Quebec's next gold mine," commented Company President and CEO, Stephen de Jong.
The program will be carried out by Orbit Garant Drilling Inc. (TSX: OGD) and is expected to take six months to complete. Approximately 218 drill holes totaling 85,300 meters on the Lamaque Project have been identified for cementation in 2014.
Cementing the drill holes on the Lamaque Project is being initiated in preparation for potential underground exploration and development. The cementation of drill holes is necessary to prevent water from draining into underground structures, threatening ground stability and personnel safety. A fourth drill rig, specializing in the cementation process, has been mobilized to the property for this program. Cementing will start on the Triangle Zone, move to the Parallel Zone and will conclude at the No. 4 Plug and Fortune Zones.
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 Quebec, Canada, approximately 550 km northwest of Montreal. Quebec 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 divided into three main clusters of mineralization: the North, South and West Clusters. The North Cluster consists of the Parallel, Fortune, No. 5 Plug, and No. 3 Mine zones and is located approximately one km from the South Cluster, which includes the No. 4 Plug, Triangle and Triangle South zones. The Sixteen Zone and No. 6 Vein form the West Cluster.
The Lamaque exploration project is under the direct supervision of Herve Thiboutot, P.Eng. and Senior 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 Geologica Inc., both independent QPs 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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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 disclosure in this release constitutes 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 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 meow 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.