Welcome!

News Feed Item

Integra Gold Receives $441,284 From Quebec Resource Tax Rebate, Provides Lamaque Project Update

VANCOUVER, BC--(Marketwired - April 16, 2014) -

  • Project permitting now underway
  • Assay results pending for 46 of 58 holes from 2014 Triangle Zone drilling
  • Receipt of tax rebate brings cash balance to $4,500,000

Integra Gold Corp (TSX VENTURE: ICG) ("Integra" or the "Company") is pleased to announce it has received a cash payment of $441,284 from the offices of Revenu Québec. This payment represents the Québec mineral exploration tax credit relating to the Company's 2013 exploration expenditures on its Lamaque Gold Project in Val-d'Or, Québec.

"The tax rebate provided by the Québec provincial government exemplifies the Province's commitment to resource development and validates why Québec is consistently rated a top jurisdiction for exploration and mining. Integra looks forward to working closely with the provincial government as it continues to advance the Lamaque Project towards production," commented Integra Gold President and CEO Stephen de Jong. "The Company is well capitalized with approximately $4.5 million in working capital and no debt allowing us to continue executing our 2014 corporate objectives. We look forward to an eventful year as one of the most active exploration companies on the TSX Venture Exchange."

Permitting Update
In March the Company announced the results from its Preliminary Economic Study ("PEA") outlining a pre-tax IRR of 51% and a pre-tax NPV (5% Discount) of CAD$146.0 million (see Company Press Release March 11, 2014). The PEA, to be filed on SEDAR in the coming weeks, will be used along with the Company's Environmental Baseline Study (completed by AMEC in November 2013) to prepare an application to be submitted in May 2014 for an initial Certificate of Authorization ("CA"). CA(s) are required in the Province of Québec and provide the Company with the authorization to conduct underground exploration. It is the Company's goal to commence this underground program in early 2015.

The Company is concurrently preparing a project description to be submitted to the Canadian Environmental Assessment Agency ("CEAA") which will provide direction on whether or not a federal impact study is required. The Company has been proactive and worked diligently in the past 12 months to engage various community groups, environmental organizations, and First Nations to ensure all stakeholders are aware of the Company's plans and intentions as the project is advanced towards production. As part of the proposed project development will take place on areas previously impacted by the operations of two adjacent major past-producing gold mines, the Sigma and Lamaque Mines, permitting may be expedited.

The Company will provide updates on permitting activities as information becomes available.

Drilling Update
In the past two weeks the Company has reduced the number of operating drill rigs from eight to five as the 24,000 meter program at the Triangle Zone nears completion. Beginning in May, the Company anticipates using two rigs at the Fortune Zone, one rig at the Parallel Zone and one rig cementing historic drill holes.

The Company recently announced assay results from the first 12 holes completed on the high grade Triangle Zone with drill highlights including (Company press release dated March 25, 2014):

                                                                            
-- TM-14-03A      23.02 g/t Au over 5.0 m                                   
                  76.06 g/t Au over 1.0 m                                   
                  29.55 g/t Au over 3.0 m                                   
                                                                            
-- TM-14-09       31.24 g/t Au over 3.0 m                                   
                  76.06 g/t Au over 1.0 m                                   
                  29.55 g/t Au over 3.0 m                                   
                  75.18 g/t Au over 1.0 m                                   
                                                                            
-- TM-14-20       20.34 g/t Au over 3.0 m                                   
                  36.52 g/t Au over 1.0 m                                   
                                                                            
-- TM-14-26       8.06 g/t Au over 10.1 m                                   
                                                                            

The following link direct to the complete drill results table from the March 25, 2014 press release:

http://www.integragold.com/i/pdf/2014_Composites_Compilation_Triangle_March.pdf

A total of 58 drill holes have now been completed at the Triangle Zone with assay results pending on 46 holes.

The Company is planning for an additional 21,000 meters of drilling at the Lamaque Project for the remainder of the year on the Parallel, Fortune, No. 3 Mine and No. 5 Plug deposits. 

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 northwest from the South Cluster, which includes the No. 4 Plug and Triangle Zone. The Sixteen Zone and No. 6 Vein form the West Cluster. 

Qualified Person
The Lamaque exploration project is under the direct supervision of Hervé Thiboutot, Eng. and Senior Vice-President of the company, and Francois Chabot, Eng., Operations and Engineering Manager of the Company, both Qualified Person ("QP") as defined by National Instrument 43-101, and Alain-Jean Beauregard, P.Geo., and 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 Bourlamaque Lab 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.

Further information about the Preliminary Economic Assessment cited in this news release can be found in the news release dated March 11, 2014 titled, "Integra Gold Announces PEA Results: Pre-Tax IRR of 51%, NPV (5%) of CAD$146.0 M (After-Tax CAD$88.5 M) and Peak Annual Production of 143,300." This news release is available on the Company's website and under the Company's SEDAR profile at www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Stephen de Jong, CEO & President

Follow Integra Gold On:

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 the proposed mining scenario for the Lamaque Project, including information with respect to the expected economic results of the Lamaque Project (including rates of return, payback period and the NPV of the Lamaque Project), estimated capital expenditures and other costs to develop the site, the expected values of gold for the life of the project, rates of development and production, potential mineralization and mineral resources, information with respect to 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 a 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 the PEA will prove to be materially accurate, that its current development and other objectives can be achieved, that its development, 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 development and exploration 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 development 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Qosmos has announced new milestones in the detection of encrypted traffic and in protocol signature coverage. Qosmos latest software can accurately classify traffic encrypted with SSL/TLS (e.g., Google, Facebook, WhatsApp), P2P traffic (e.g., BitTorrent, MuTorrent, Vuze), and Skype, while preserving the privacy of communication content. These new classification techniques mean that traffic optimization, policy enforcement, and user experience are largely unaffected by encryption. In respect wit...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...