INTEGRA GOLD CORP. (TSX-V: ICG) (The Company) is pleased to announce that it has completed the thirty one (31) hole second phase Parallel Zone drill program announced on October 17, 2011, on the Lamaque Gold Project located in Val d'Or, Quebec. This phase complements previous drilling with results reported January 13, 2011, and where significant gold mineralization was intersected on the Parallel Vein.
Highlights of assay results received to date include:
PV-11-06: 44.50 g/t gold over 1 meter ; PV-11-13: 32.90 g/t gold over 1 meter; PV-11-13: 26.89 g/t gold over 2 meters (including 50.60 g/t gold over 1 meter); PV-11-19: 29.52 g/t gold over 3 meters (including 82.3 g/t over 1 meter); PV-11-22: 29.94 g/t gold over 3 meters (including 88.5 g/t over 1 meter); PV-11-24: 19.2 g/t gold over 10 meters
Previously announced highlights from first phase drilling include:
54.31 g/t gold over 6 meters (News Release January 13, 2011); 16.63 g/t gold over 5 meters (News Release January 13, 2011); 14.99 g/t gold over 8.5 meters (News Release January 13, 2011)
Recent and ongoing exploration on the Lamaque property continues to produce results beyond our expectations. The ten meter intersection of 19.2 grams per tonne gold represents one of the highest values in grade and length ever intersected by the Company, comments Company President, John de Jong. In addition to these results, two holes intersected values in excess of 80 grams per tonne over one meter, one at 44 meters on hole #19 and at 505 meters on hole #22. We look forward to receiving the assays of the remaining holes and adding those results to an updated resource estimate for this zone.
To view a map highlighting the Parallel Zone please click on the following link: http://www.brmstatpack.com/lt/1005/1225/parallel-zone-map-insert
Click here for interview with John de Jong, CEO & President: http://www.brmstatpack.com/lt/1005/1228/johns-interview-with-al-ogrady-on-latest-parallel-zone-results
Significant intersections encountered on the Parallel Vein system include the following:
To view complete drill results including descriptions please click on the following link: http://www.brmstatpack.com/lt/1005/1226/2011-significant-values-for-the-parallel-zone
The Company's most recent NI 43-101 Mineral Resource Estimate released in June, 2011 reported the following results.
Tonnes Grade Ounces (troy) Category 659,959 4.80 g/t Au 101,794 Indicated 211,484 1.72 g/t Au 11,681 Inferred
The Parallel Zone consists of several sub-vertical and sub-parallel en echelon pinch and swell veins and sub-horizontal vein clusters which are hosted within a narrow tabular shear Zone that cross-cuts all the lithological units. The main host rock units consist of volcano sedimentary rock units intermediate to mafic composition which is intruded by younger dioritic sills and dykes.
The significant zones of gold mineralization known on the Property comprise various simple vein structures, vein complexes and stockwork zones within E-W and subvertical shearing zones and fractures.
The majority of mineralization is hosted within fine to medium grained diorite with generally 1 to 3% of disseminated pyrite, locally up to 7% and some zones are within intermediate to mafic volcanics with 1 to 3 % of disseminated pyrite.
Best mineralized zones show free visible gold (e.g. DDH PV-11-22 and the PV-11-24) with a good percentage of sulphide (5 to 20% disseminated pyrite and 2 to 8% chalcopyrite) that are associated to quartz-carbonate-tourmaline-chlorite veins and veinlets with 5 to 20% of pyrite and 2 to 8% of chalcopyrite. All mineralized zones intercept several quartz-carbonate-chlorite veins and veinlets of centimetric to metric widths (2, 34, 44, 66, 97, 158, 200 to 300 cm).
Company and Gold Project Location
Integra's Lamaque Gold Project is located in the Val-d'Or gold camp in the Province of Quebec, Canada, which 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 advance gold zones demonstrating potential for open pit mining and where gold resources can be added quickly to the reported gold resource of 2,335,530 metric tons, average grade 6.91 g/t gold for 518,643 ounces Troy gold inferred and 800,799 metric tons, average grade 6.33 g/t for 162,962 ounces Troy gold indicated.
The gold project shares its northeastern border with the producing Sigma Mine which has produced 4.7 million ounces of gold to date and has 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 (mine closed recently due to engineering difficulties), and directly west of Goldex is the producing Osisko Mine reporting reserves of 10.71 million ounces of gold.
The Lamaque Property is located about 550 km northwest of Montréal, Quebec. The property consists of four (4) contiguous mining concessions and twenty (20) mining claims for a total of 1,459 hectares, owned 100% by Integra.
QUALITY ASSURANCE - QUALITY CONTROL
Thorough quality assurance and quality control program (QA/QC) protocol was utilized on the project including duplicate, blank and standard samples for all the holes. The core samples were respectively submitted directly to ALS Laboratory Group and Bourlamaque Labs in Val-d'Or for preparation and analysis. Analysis was conducted on 1 assay ton samples. Analysis of gold was by fire assay, with a gravimetric finish on samples exceeding 5 g/t gold. The gravimetric assay results were used for the reported composite intervals. The Lamaque project exploration is under the direct supervision of Alain Beauregard, P.Geol. of Geologica Inc. , an independent qualified person as designated by National Instrument 43-101, and Daniel Gaudreault, ing. Geol., an independent qualified person as designated by National Instrument 43-101, who has reviewed the technical content of this release.
ON BEHALF OF THE BOARD OF DIRECTORS
John de Jong CEO & President
Corporate Inquiries: John de Jong CEO firstname.lastname@example.org or Ariel Cobangbang email@example.com Phone: 604.629.0891 Or visit the company website: www.integragold.com
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This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the U.S. Securities Act) or the securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or the benefit of, any person in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release, 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.