VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/20/13 -- Integra Gold Corp. (TSX VENTURE: ICG) ("Integra" or the "Company") is pleased to announce that it has entered into agreements with AMEC Environment & Infrastructure, a division of AMEC Americas Limited ("AMEC"), related to Gap Analysis and Environmental Baseline studies for its Lamaque Gold Project ("Lamaque") located in Val d'Or, Quebec. The studies are an essential step towards the full evaluation and potential development of its main gold bearing zones at Lamaque (see map link below).
Link to map: http://www.integragold.com/i/maps/Zone_map_Mar_19_2013.pdf
"AMEC is one of the world's leading engineering groups and has extensive experience in the region. The studies announced today are an integral part of the Company's bigger plan, to aggressively advance the Lamaque Gold Project towards development. We have made the decision to initiate these campaigns early on in the process as we are confident the pending resource estimate will warrant further advanced stage studies, beginning with a full Preliminary Economic Assessment (PEA)," commented Company President and CEO, Stephen de Jong. "Modelling of the primary gold bearing zones for the purpose of resource estimation continues and we remain on track to produce an updated estimate for the Lamaque Project in Q2, 2013. Once completed, the resource model will be combined with metallurgical and infrastructure studies to produce a PEA in late 2013. Further clarification on specific timing for the PEA will be provided as and when available."
The Gap Analysis will focus on identifying all potential applicable legal and permitting requirements, as well as linking those to required technical studies needing to be addressed in order that the project can advance smoothly and on schedule towards development. This study will aid in establishing a clear timeline and pathway towards underground exploration, development and production. It is expected that this study, which has direct links to the planned Preliminary Economic Assessment to be completed later on this year, will be completed within the next 2-3 months.
The Environmental Baseline study will describe and define the base reference for numerous environmental, hydrological, wildlife, and socio-economic issues. Results of the study are to be used to apply for, and ultimately obtain, permits and environmental authorizations to initiate underground exploration as the Company continues towards potential production.
More specifically, data collection and studies will include climate, air quality, and noise surveys; geological, hydrogeological and hydrologic project definition; wildlife, flora and archeological status and potential issues; and social economic evaluation in terms of land use, economic impact, employment, and relation with the diverse stakeholders. Specific data collection and studies to be performed are an essential step towards completing a full Environmental Impact Study if and when required. The initial phase of the environmental baseline study will be completed in late 2013.
Ongoing Technical Studies
The Company has also initiated or completed technical studies and evaluations that will form an integral part of the planned 2013 Preliminary Economic Assessment (PEA) for the project. These studies include:
-- an evaluation of available mills in the region in order to gather sufficient information for proper costing,-- structural evaluation of the main targets in the Southern Cluster (respectively the Triangle and Plug No. 4 targets) to improve the level of confidence in the mineral resource,-- metallurgical analysis that will provide key information on the potential gold recovery of known gold bearing zones,-- basic geotechnical studies in order to define global mining parameters regarding potential production.
Results of these studies will be released as they become available.
AMEC is a focused supplier of consultancy, engineering and project management services to its customers in the world's oil and gas, mining, clean energy, environment and infrastructure markets. With annual revenues of some GBP 4.2 billion, AMEC designs, delivers and maintains strategic and complex assets and employs over 29,000 people in around 40 countries worldwide.
Company Investor Relations Update
The Company is pleased to provide an update in respect of its corporate communications department. The Company has two individuals involved in corporate communications and investor relations, Mr. Chris Gordon and Mr. Ariel Cobangbang.
Mr. Chris Gordon has been providing investor relations and market guidance to junior mining companies for over 5 years through a variety of markets. Mr. Gordon's major focus was on developing relationships across Canada in the financial industry and increasing market awareness to the companies he has been associated with.
Mr. Ariel Cobangbang has more than 15 years of experience in marketing and corporate communications. His wealth of experience in this field has allowed him to consistently build and maintain the trust and confidence of the investment community. Mr. Cobangbang has a Diploma in Sales & Marketing Management through the SMEI/Sauder School of Business (University of British Columbia) and is currently working towards his Investor Relations certification through the Canadian Investor Relations Institute at the Ivey School of Business - University of Western Ontario.
The Company also announces it has granted 400,000 stock options to an officer of the Company. The options have an exercise price of $0.25 and vest as to 100,000 options every 6 months. The options expire on March 20, 2018.
Lamaque 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. The Lamaque Project's primary target, the South Cluster, is 4 km from the City of Val d'Or. 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 split into two clusters, the North Cluster and the South Cluster, located approximate 1 km from each other.
South Cluster - No. 4 Plug and Triangle Zone
The South Cluster is the Company's top priority, and currently has a high grade gold resource of 444,962 inferred ounces grading 11.06 g/t Au in 1,263,046 tonnes, and 61,168 indicated ounces grading 13.51 g/t Au in 140,840 tonnes. Over 27,000 meters of drilling has been completed on the South Cluster since the last resource estimate. An updated resource estimate is expected to be completed in Q2, 2013.
North Cluster - Parallel Zone, Forestel Zone and No. 5 Plug
The North Cluster hosts an NI 43-101 resource estimate of 69,981 inferred ounces grading 2.03 g/t Au in 1,072,484 tonnes, and 101,794 indicated ounces grading 4.8 g/t Au in 659,959 tonnes. An additional 8,000 meters of drilling has been completed on the North Cluster since the last resource, which will also be included into the Q2, 2013 updated resource estimate.
The Lamaque exploration project is under the direct supervision of Herve Thiboutot, P.Eng. and 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., both of Geologica Inc., are independent QP as defined by National Instrument 43-101. The Company's QP has reviewed the technical content of this release.
Quality Assurance - Quality Control ("QA/QC")
Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all drill holes. The core samples are submitted directly to ALS Laboratory Group and Bourlamaque Labs in Val-d'Or for preparation and analysis. Analysis is conducted on 1 assay-ton aliquots. Analysis of Au is performed using a fire assay method with a gravimetric finish completed for samples exceeding 5 g/t Au, or a metallic sieve assay for samples containing visible gold. When available, the gravimetric or metallic sieve assay results were used for the reported composite intervals.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong, CEO & President
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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 private placement and Company's planned exploration activities, that the Company is able to complete the private placement, 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 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.
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.
Integra Gold Corp.