Integra Gold Appoints George Salamis as VP Corporate Development,
Mobilizes Fifth Drill Rig
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 3, 2014) -
Integra Gold Corp. (TSX-VENTURE:ICG) ("Integra" or the "Company")
is pleased to announce it has appointed Mr. George Salamis, P.Geo,
as VP Corporate Development to assist the Company as it looks to
transition from exploration to development at its Lamaque Gold
Project in Val-d'Or, Québec.
Mr. Salamis is a geologist with over 25 years of international
experience in the mining industry in gold, base metals, coal and
uranium. He spent 12 years working with major mining companies,
specifically Placer Dome Inc. and Cameco Corporation, in various
exploration and corporate roles all over the world. Over the last
14 years, Mr. Salamis has been involved, either as a co-founder or
in an executive capacity, in five significant Merger and
Acquisition transactions valued at over $1 billion. Over the course
of his career, he has developed a network of international mining,
investment banking and institutional investment contacts and has
participated in capital raisings totaling over $850 million
(USD).
More specifically as it relates to Integra's focus on its gold
assets in Québec, Mr. Salamis was raised in Québec, is a graduate
of the Université de Montréal - École Polytechnique, and spent 6
years living in Val-d'Or, Québec where he worked for the Placer
Dome exploration department at the Sigma Gold Mine. The Sigma mine
produced over 4.5 million ounces and is located immediately north
and adjacent to the Lamaque Project.
"Having worked with our entire senior management team previously
in his career, and currently as a valued member of our Board of
Directors, Mr. Salamis is an ideal candidate for this role. With
his extensive knowledge of mining financial markets, ties to the
Quebec mining scene and considerable experience as a mine
development professional, Mr. Salamis is set to make a significant
contribution to the Integra executive team as the Company continues
to grow," noted company President and CEO Stephen de Jong.
Geotechnical Drilling
The Company also announces it has commenced a geotechnical drill
program at the Lamaque Project. The Company is fully committed to
an accelerated exploration and development schedule and will
continue to undertake initiatives that de-risk the project, much
like the recently announced drill hole cementation program.
Knowledge gained from geotechnical drilling will allow the
Company's engineers to begin planning the construction of ramps and
other infrastructure necessary for underground exploration that
could potentially commence as early as 2015.
A drill rig specializing in this type of drilling has been
mobilized to the site, bringing the total number of drills
operating at Lamaque to five. Of the four other drill rigs
operating on the Lamaque project, three are diamond drills rigs
conducting infill drilling and testing for extensions of
mineralization in and around the high-grade Triangle Zone. The
fourth drill rig is cementing historic drill holes on the property
in preparation for underground exploration.
Geotechnical drilling is essential for the safe and efficient
design, construction and use of underground access points. The
drilling aims to identify existing rock mass characteristics that
would help in designing underground access while identifying
potential hazards that could compromise the integrity of future
ramps and underground workings. Data from this program will be
analyzed by the Company's engineers as well as by Golder Associates
who are managing the program for Integra. The program will start on
the Triangle Zone before moving to the Parallel, No. 4 Plug and
Fortune zones.
"This program is yet another example of the Company's commitment
to advancing the Lamaque Gold Project rapidly towards production.
Our objective is to be Québec's next gold mine and in order to meet
that goal it is imperative that the Company initiates certain
de-risking initiatives, such as geotechnical drilling and drill
hole cementing, to ensure that the project is being advanced in a
safe and timely fashion," commented Integra President and CEO
Stephen de Jong.
The drilling is being carried out by Orbit Garant Drilling Inc.
from Val-d'Or (TSX:OGD) and is expected to take 2 months to
complete. Approximately 2,000 meters of drilling will take place in
this phase 1 geotechnical program on the Lamaque Project; it is
expected that additional phases of geotechnical drilling will be
required in the future.
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.
Qualified Persons
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.
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 fire assay method with atomic absorption
finish, 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 are used for the reported composite intervals.
ON BEHALF OF THE BOARD OF DIRECTORS
Stephen de Jong, CEO & President
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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.
Corporate Inquiries:Integra Gold Corp.Chris
Gordonchris@integragold.comwww.integragold.com
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