VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 10/17/11 — INTEGRA GOLD CORP. (TSX VENTURE: ICG) (The „Company“) is pleased to announce that it has commenced the second drilling phase of the Parallel Zoneon the Lamaque Gold Project located in Val d-Or, Quebec.Thirty-one (31) holes are planned for this exploration segment and are designated as follows:
The 31 additional holes being drilled on the Parallel Zone will allow for a higher level of confidence and possible expansion of the existing resources and category. This drill program is also designed to verify the possibility of open pit mining and the prospect of access to other zones on the Gold Project.
On January 13, 2011, the Company reported that significant gold mineralization was intersected on the Parallel Vein. These intersections included, 54.31 g/T gold over 6.00 m; 16.63 g/T gold over 5.00 m; 14.99 g/T gold over 8.50 m representing a portion of the significant intersections reported.
„Part of Integra-s approach to exploration is to advance gold zones demonstrating the best chance for open pit mining and which can be put into production within the shortest period of time. I am enthused by the prospect of the Parallel Zone being defined as having open pit potential through this drill program. A large volume, low-grade resource allowing for the extraction of more gold ounces at a lower cost,has the potential to add value for the shareholder,“ states, John de Jong, CEO and President.
PARALLEL ZONE
The Company-s most recent NI 43-101 Mineral Resource Estimate released in June, 2011 reported the following results on the Parallel Zone.
The following calculation parameters based on an underground mining profile were used:
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 are intruded by younger dioritic sills and dykes.
To view a map highlighting the Parallel Zone please click on the following link:
Company and Gold Project Location
Integra-s Lamaque Gold Project in located in the Val d-Or gold camp in the Province of Quebec, Canada rated one of the best mining jurisdictions in the world. Infrastructure, human resources and mining expertise is readily accessible.
The Company-s shares are tightly held by several major 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 2,114,742 metric tons, average grade 5.67 g/t gold for 385,656 ounces Troy gold inferred and 659,959 metric tons, average grade 4.80 g/t for 101, 794 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 is the Main Plug which produced the majority of its 4.7 million ounces of gold for the historic Lamaque Mine. The producing Agnico-Eagle Goldex Mine located approximate 5 kilometers west reports reserves of 3.5 million gold ounces, and directly west of Goldex is the producing Osisko Mine reporting reserves of over 10 million ounces of gold.
The Lamaque Property is located about 550 km northwest of Montreal, 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 who has reviewed the technical content of this release.
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This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. 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 any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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.
Contacts: Integra Gold Corp. Ariel Cobangbang Corporate Inquiries 604-629-0891 604-229-1055 (FAX)
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