| | Published : January 28th, 2011 | Integra Gold Corp. 2011 Corporate Update |
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Integra Gold Corp. 2011 Corporate
Update
Integra Gold Corp. (TSX-V: ICG) (the
"Company") is pleased to provide this update of events that have
transpired since its last news release dated January 10, 2011.
President's Message
"I am pleased with the advancements made by Integra Gold Corp as it
continues to develop corporate plans relating to exploration, land acquisition,
financing and eventual development and production. Productive meetings took
place in China with Shandong Gold International Mining Company Ltd.
("SDGIM") and also in Canada during the two days of directors'
meetings held in Vancouver.
We are pleased to announce diamond drilling continues at Lamaque
on the Forestel Zone as comprehensive new drill
programs are being designed and implemented. It has been made exceedingly clear
to me that the investment community supports the new direction taken by
management. I trust that this update will provide shareholders a sense that
management is on the right track and working for them."
China Visit
The Company met with SDGIM management and directors in Jinan, China, from
January 13th to January 16th. The
talks were productive with a renewed commitment by SDGIM to develop Integra
Gold Corp as a flagship company for their investment purposes in Canada. SDGIM also confirmed their unequivocal support for management, the
board of directors and the Company's focus on accelerating exploration,
production, corporate development and expansion in Canada.
Focus for 2011
The directors have approved management's 2011 exploration plan prepared by Geologica Groupe-Conseil 's
geological team which includes an extensive drill program with distinct
timelines for geological analysis. The scheduling of this program will ensure
drilling is done efficiently and located in areas where best results can be
achieved. The upcoming 43-101 report will include drilling recommendations
designed to enhance existing resources. The
Company has the financial capacity and ability to immediately increase the
drill program significantly in 2011 and beyond as it receives recommendations
from the geological team.
Management is moving forward with an exploration program designed to bring the Lamaque property to a pre-feasibility stage as quickly as
possible. The possibility of focusing part of management's human resources
solely to pre-feasibility and an equal component to focus on continued
exploration and corporate development is being considered. Planning is underway
to facilitate a drill plan that may be more than double what has been approved.
Director's Meeting
A director's meeting took place in Vancouver on
January 20 and 21st attended by all directors of the Company, including Mr. Yuhuan Ge who is also a director
of SDGIM. Many insights were gained from his expertise as mining engineer along
with fellow director from Val d'Or, Mr. Robert Bryce, also a mining engineer.
The geological profile of the Lamaque project was
reviewed in detail along with the 2011 drill program put forward by Geologica Groupe-Conseil Inc. The
diamond drill exploration program for 2011 was approved with the proviso that a
greatly enhanced program be initiated if recommended by the 43-101 report,
which is expected to be released in March.
Resignation from the Board
On January 21, 2011, the Board of Directors accepted
Mr. Richard W. Hughes resignation from the board and thanked him for his many
years of service. Mr. Hughes wishes the board well in their endeavours
and is encouraged by the new direction and focus taken by the Company.
As released earlier, management has severed its management contract with the
Hastings Management Corp., and is no longer associated with the Hughes
Exploration Group. Management's sole focus will continue to be advancing
Integra Gold and creating value for the shareholder.
New Board Appointment
By unanimous endorsement, the board appointed Mr. Stephen de Jong, as a director of the Company. Mr. de Jong is the President and CEO of Rogue Resources Inc.
(TSXV: RRS), a Canadian junior exploration company focused on mineral
exploration primarily in the Timmins camp of Ontario. Stephen has been actively
involved in many aspects of negotiations with SD Gold during the past 12 months
as Integra continues to explore all opportunities to advance the Lamaque project towards production. Stephen's financial and
business acumen accompanied by his experience with international companies is
proving to be a considerable asset to the Company.
Report on Drilling
The Forestel Zone assays are still being received and
are in the process of being compiled. They will be released along with the
Sigma and Sixteen zones results very shortly. The Parallel Zone is still
awaiting assay results on four holes which will be reported on separately.
Drilling on the Triangle Zone will commence shortly and will be announced via a
subsequent news release.
Assay Lab Results
Assays are being received weekly from the assay lab in Val d'Or and a second
assay lab in Vancouver recently commissioned to process Company core samples.
As reported earlier, core from historic drilling has been re-logged and assayed
at the same time as conducting an 8000 meter diamond drill program begun in
early November, which has been extended into January. The assay back log has
abated with turnaround times expected to be two to three weeks by middle to
late February.
Relocation of Offices
The Company has moved to:
#202 200 Granville Square,
Vancouver, BC, V6C 1S4
Telephone: 604-629-0891
Fax: 604-229-1055
Email: jdejong@integragold.com
Incentive Option Update
The Company also announces the incentive option price announced on January 24,
2011, has been corrected and is now set above the price of closing on the date
of issue therefore will be eighty five cents ($0.85) with no discount.
NI 43-101 Report Update
Management is pleased to report that Geologica Groupe-Conseil Inc., is compiling
data for the NI 43-101 report expected by early March 2011. This report will
encompass all of the work completed since 2004, including new zones, provide a
new resource estimate, and make recommendations relating to future exploration,
pre-feasibility and pre-production.
PDAC/Cambridge House
The Company wishes to thank all of its investors and interested persons who
took time to meet Company management and directors at the recent Vancouver
Investment Conference. There was considerable interest shown in the Lamaque project as well as a number of enquiries and
requests received from significant Canadian and international financial and
resource institutions.
The Company will be featured at the PDAC conference in Toronto at the Geologica Groupe-Conseil Inc.,
booth where geological information will be available and investors can meet
with management, geologists and directors directly.
Website
The Company's new website can now be found at www.integragold.com. Upgrading the site and information
is ongoing with a completion target date set for mid-February.
Lamaque Gold Project
The Lamaque property is in the Val d'Or Gold Camp
immediately adjacent to both the Sigma and Lamaque
mines, which together have produced approximately 9 million ounces of gold. The
current inferred gold resource at Lamaque property is
375,375 gold ounces (1,238,308 tonne at 9.43 g/t
gold) according to Watts, Griffis and McOuat 43-101 report. (Sedar
October 20, 2004). The current gold mineralized vein-system, indicated through
drilling, is speared over an area that is 4,000m in strike length, 2900m wide
and open at depth.
CONTACT INFORMATION
Corporate Inquiries:
John de Jong
(604) 629-0891
info@kalahari-resources.com
Or visit the company website: www.kalahari-resources.com
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VanEck Vectors Global Alternative Energy ETF
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EXPLORATION STAGE |
CODE : ICG.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Integra Gold is a gold exploration company based in Canada. Integra Gold holds various exploration projects in Canada. Its main exploration properties are CHAPLEAU, WAWA, CLAW LAKE, AIRPORT, BLACK LAKE and LAMARQUE PROJECT in Canada. Integra Gold is listed in Canada. Its market capitalisation is 40.3 millions as of today (US$ 31.8 millions, € 27.6 millions). Its stock quote reached its highest recent level on March 13, 1998 at 9.50, and its lowest recent point on November 28, 2008 at 0.10. Integra Gold has 47 442 200 shares outstanding. |
Financings of VanEck Vectors Global Alternative Energy ETF |
Nominations of VanEck Vectors Global Alternative Energy ETF |
Project news of VanEck Vectors Global Alternative Energy ETF |
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2/20/2013 | Performs Metallurgical Testing at Lamaque Gold Project, Val ... |
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5/13/2011 | Provides Corporate Update |
4/26/2011 | Intersects 36.55 g/t Gold Over 4.5 Meters at the Triangle Zo... |
4/5/2011 | Intersects 14.7 g/t Gold Over 3.5 Meters at the No. 5 Plug o... |
2/17/2011 | Commences 20,000 Meter Drill Program at Lamaque |
1/28/2011 | Integra Gold Corp. 2011 Corporate Update |
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