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INTEGRA GOLD CORP. (TSX-V: ICG) (The "Company") is pleased to announce that it has begun its 2012 deep drilling program on the No. 4 Plug located on its Lamaque Gold Project in Val d'Or, Quebec. The No. 4 Plug is one of four priority targets in the 2012 drill program designed to increase gold ounces and resource category.
The No. 4 Plug (1,042,258 m tonnes average grade of 9.43 g/t gold for 315,975 gold ounces) contains 46% of the known gold resources on the Lamaque Gold Project with a cut-off grade of 6.14 g/t (Scammell, May 1989) set to reflect the much lower gold prices of that time. The 2012 drill program will include drilling previously un-tested areas at and below the 210 meter level to a depth of up to 1500 meters. The results will be incorporated into an update of the resource estimate once geological milestones designed to validate and enhance the 1998 resource estimate data used by Teck have been met, and will reflect present-day market gold prices and associated cut-off grades.
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"Drilling the No. 4 Plug fits into the Company's 2012 objective of focusing its exploration efforts on areas with proven high-grade resources and that demonstrate the most potential to expand. The No.4 Plug's gold high grades not only increase the overall value of the project, but also have the potential to positively influence the various production scenarios we are currently considering," comments Company President and CEO, John de Jong. "The No. 4 Plug and adjacent high grade gold Triangle Zone continues to be one of several 'sweet' spots in the entire Lamaque Gold Project."
The Company commissioned a drill rig from Orbit Garant, headquartered in Val d'Or, Quebec, that is capable of deep drilling and in November, 2011, built a year around road access to the No. 4 Plug. Drilling is planned to continue unabated during 2012 and possibly into 2013.
The No. 4 Plug is located in the mid-eastern portion of the Lamaque Gold Project approximately 400 meters north of the high-grade Triangle Zone that has an inferred resource of 220,788 metric tonnes grading 18.73 g/t for 132,987 ounces of gold and an indicated resource of 140,840 metric tonnes grading 13.51 g/t for 61,168 ounces of gold.
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To view a map highlighting the No. 4 Plug, please click on the following link:
http://www.brmstatpack.com/lt/1005/1235/2012-ddh-program-on-no.-4-plug-zone
No. 4 Plug -- The Geology
The # 4 Plug reports an inferred historic resource of 1,042,258 metric tonnes grading 9.43 g/t for 315,975 ounces of gold based on a cut-off grade of 6.14 g/t. The cut-off was based on a gold value of $400 to $500 per ounce whilst the current value used by the majority of mining companies for the purpose of resource estimate calculations is approximately $1,365 gold.
The No 4 Plug is a "pipe-like" intrusion and measures 106.68 to 121.92 meters in diameter and extends to a depth in excess of 914.4 meters. The No. 4 Plug was mined from July 1961 to 1967and yielded 145,136 metric tonnes grading 5.21 g Au/t from workings above the 213 meter level.
The No. 4 Plug is composed of an easterly portion of fine to medium grained diorite, 106.68 to 121.92 meters in diameter. It is enveloped on the west side by a granodioritic intrusion, which extends to the west for an additional 83.82 m. The two intrusive units have similar competency and therefore should be equally good hosts for gold-bearing quartz veins, however, the mining was restricted to the dioritic portion of the intrusive.
The intrusions are cut by a series of near vertical shears striking 070 to 090° and dipping 70° to 85° to the south. The best developed of these shears is the No. 6 fault / shear. It has a dextral displacement of approximately 61 meters and vertical displacement of 18 to 24 meters. The vertical shears have probably produced the brittle (Riedel) shears and tension fractures, which are believed to be the conduits along which the gold-bearing solutions migrated.
The quartz veins are hosted by three dominant structural features:
ductile "P" Shears;
brittle "Riedel" or "R" Shears; and Tension Veins.
