|By Marketwired .||
|July 9, 2014 10:34 AM EDT||
VANCOUVER, BC--(Marketwired - July 09, 2014) - Integra Gold Corp. (TSX VENTURE: ICG) ("Integra" or the "Company") is pleased to announce its 2014 drill program has resumed after a seven week hiatus following the extensive 28,500 meter ("m") winter program drilled in the first four months of the year. Three diamond drill rigs are now on site at the Company's Lamaque Gold Project in Val-d'Or, Québec with approximately 20,000 additional meters of drilling to be completed this year.
One rig has commenced drilling at the Fortune Zone and will focus on completing the definition drill program initiated during the winter. Year to date, approximately 3,200 m in 14 holes have been completed at the Fortune Zone with assay results pending. An additional 3,000 m is planned for the Fortune Zone this summer.
The second diamond drill rig is conducting a condemnation program over the planned infrastructure sites (ramp, ore/waste stockpiles, offices, etc.) selected for the development of the Triangle Zone. The program will consist of 1,200 m in 10 holes with all drill holes located between 200 m and 800 m west of the Triangle Zone deposit. Once the condemnation drilling is completed the same rig will be used to test a number of high priority geophysical targets in proximity to the Triangle Zone and No. 4 Plug. Details for this program will be disclosed in the near future.
The third rig is being used to complete the cementing program that was initiated last winter. The cementation of drill holes is necessary to prevent water from draining into underground structures, threatening ground stability and personnel safety during underground operations.
Apart from the cementing rig which should complete its work by end of August, the Company anticipates having a minimum of two diamond drill rigs operating on the property for the balance of the year. The Company may increase the number of drills operating on the property to complete a drill program or accommodate additional drilling as dictated by exploration. An additional 15,000 meters of drilling is planned for the balance of the year on a number of significant, untested exploration targets. This drilling will commence once the above mentioned programs have been completed.
"These programs are yet another example of the Company's commitment to advancing the Lamaque Gold Project rapidly towards development. Our objective is to be Québec's next gold mine and to meet that goal it is imperative that the Company initiates certain de-risking initiatives, such as condemnation, definition drilling and cementing," commented Integra President and CEO Stephen de Jong. "Drill programs for the remainder of 2014 will both help advance the project and provide a strong news flow as we continue to test new targets along strike of existing deposits."
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 Québec, Canada, approximately 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 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 Cluster. The North Cluster consists of the Parallel, Fortune, No. 5 Plug, and No. 3 Mine zones and is located approximately 1 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 Hervé Thiboutot, Eng. and Senior Vice-President of the company, and Francois Chabot, Eng. and Operations and Engineering Manager of the Company, both Qualified Person ("QP") as defined by National Instrument 43-101, and Alain-Jean Beauregard, P.Geo., Daniel Gaudreault, Eng., Geo. of Géologica Inc., both independent QP as defined by National Instrument 43-101. The Company's QPs have reviewed the technical content of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong
CEO & President
Follow Integra Gold On:
- 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:
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained on this presentation. This presentation contains "forward-looking information" concerning Integra Gold Corp.'s ("Integra" or the "Company") future financial or operating performance and other statements that express management's expectations or estimates of future developments, circumstances or results. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "seeks," "believes," "anticipates," "plans," "continues," "budget," "scheduled," "estimates," "expects," "forecasts," "intends," "projects," "predicts," "proposes," "potential," "targets" and variations of such words and phrases, or by statements that certain actions, events or results "may," "will," "could," "would," "should" or "might" "be taken," "occur" or "be achieved." Forward-looking statements included in this presentation include statements regarding potential mineralization and mineral resources, the proposed mining scenario for the South Lamaque Gold Project, including information with respect to the supporting infrastructure, the potential life of mine, rates of employment and the effects of steps taken to mitigate local impacts and the expected completion dates of exploration and drilling, exploration results, estimated and future exploration and administration expenditures, the completion of scoping studies, preliminary economic assessment, pre-feasibility or feasibility studies, and future plans and objectives of Integra. While all forward-looking statements involve various risks and uncertainties, these statements are based on certain assumptions that management of Integra believes are reasonable, including that it will be able to obtain financing and on reasonable terms, that its current exploration and other objectives can be achieved, that its exploration and other activities will proceed as expected, that its community and environmental impact procedures will work as anticipated, that general business and economic conditions will not change in a material adverse manner, that Integra will not experience any material accident, labour dispute or failure or shortage of equipment, and that all necessary government approvals for its planned exploration and potential development activities will be obtained in a timely manner and on acceptable terms. There can be no assurance that the forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Integra's expectations include, among others, the actual results of current exploration activities being different than those anticipated by Integra, changes in project parameters as plans continue to be refined, changes in estimated mineral resources, future prices of metals, increased costs of labor, equipment or materials, availability of equipment, failure of equipment to operate as anticipated, accidents, effects of weather and other natural phenomena, risks related to community relations and activities of stakeholders, and delays in obtaining governmental approvals or financing. Although Integra has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Integra 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.