VANCOUVER, March 2, 2017 /CNW/ - Intact Gold Corp.
(TSX-V: ITG) (FSE: 1A5) (the "Company" or "Intact Gold"),
announces the company has commenced drilling on the Belleterre
Project in western Quebec.
The planned 1000m winter drill program is designed to test
continuity and follow up on promising results from exploration
programs by previous operators. The first three holes target
previously untested northeast trending gold-in-soil anomalies
coincident with conductors and magnetic anomalies. The next four
holes are designed to test the extension of a gold-bearing
structure drilled in 2010-2011 by Exploration Aurtois. Two shafts
were sunk on this structure in the 1940's and the area remains open
along strike. The last two holes are designed to step out
1996 and 1999 drilling which intersected gold bearing quartz veins
along a northeast trending structure.
About the Belleterre Project
The Project comprises 42 claims previously referred to as the
Belletere Extrême-Est, Guillet, and Ortona blocks covering an area
of approximately 1,700 hectares. The Project covers part of a
greenstone belt measuring 50 kilometres by 10 kilometres and is
located fewer than two kilometres from the past producing
Belleterre Mine. Previous work on the Project dates back to 1934
and consists of 567 drill holes totalling 65,800m and a bulk sample
taken in 2005/2006 from the Lake Expanse gold zone which returned
11,539 tonnes of 3.28 grams per tonne gold (Thebérge 2014).
In 2007, an estimate of Mineral Resources was produced in the
same area of the bulk sample and results were as follows*:
- Measured: 19,487 tonnes of 2.16 g/t Au
- Indicated: 301,463 tonnes of 2.66 g/t Au
- Inferred: 76,570 tonnes of 2.31 g/t Au
* Details of the historic resource are summarized from:
Kelly, D., Gagnon, Y., May 25 2007.
Évaluation des Ressources Projet Lake Expanse Propriété
Guillet Canton Guillet prepared for
Vantex Resources Ltd.
The assumptions and parameters used to estimate the Mineral
Resources are described as follows:
- The database used was comprised of diamond drill holes and
channel samples.
- Interpretations of a low grade and high grade zone were
prepared on cross section and then transcribed to 5m spaced level
plans.
- Mineral resources were estimated using polygonal methods on 10
level plans for the upper 50m and on 6 NS sections below that.
- A cut-off of 1 g/t Au and a minimum true thickness of 2.5 m was
applied.
- Sample grade was capped at 1 oz/t.
- Grade was projected a maximum distance of 15 m from drill
intersections
- Tonnage and grades did not take into account external dilution,
except from stockpiled material which was added to the in situ
Mineral Resources.
- The Mineral Resources were classified as Measured, Indicated
and Inferred.
- Measured – from surface channel samples
- Indicated – from drill hole samples
- Inferred – not described
- Stockpiled material was classified as Measured
The reader is cautioned that a qualified person has not done
sufficient work to classify the historical estimate as current
resources and Intact Gold is not treating the historical estimate
as current mineral resources or mineral reserves.
References
Thebérge, D. (P. Geo.), 2014. NI 43-101 Technical Report
Pertaining to the Belleterre Properties Ortona, Guillet and
Belleterre Extrême-Est Belleterre prepared for Vantex Resources
Ltd.
Qualified Person
Terrence Coyle, P.Geo, a
qualified person as defined in NI 43-101, has reviewed and approved
the contents of this press release. The contained information
regarding the resource is historic in nature and has not been
confirmed.
ON BEHALF OF THE BOARD OF DIRECTORS OF INTACT GOLD
CORP.
Per: Anthony Jackson,
President and CEO
Disclaimer for Forward-Looking Information
Except for statements of historical fact, this news release
contains certain "forward-looking information" within the meaning
of applicable securities law. Forward-looking information is
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions
"may" occur. Forward-looking information in this press release
includes, but is not limited to, statements regarding expectations
of management regarding the acquisition of the Property. Although
the Company believes that the expectations reflected in the
forward-looking information are reasonable, there can be no
assurance that such expectations will prove to be correct. Such
forward-looking information is subject to risks and uncertainties
that may cause actual results, performance or developments to
differ materially from those contained in the statements including,
without limitation, the risks that the Company may not have the
funds necessary to make its payments pursuant to the Agreement,
that the TSX-V may not approve the transaction, and other factors
beyond the control of the Company. Except as required by law, the
Company expressly disclaims any obligation, and does not intend, to
update any forward-looking information in this news release.
The reader is cautioned that a qualified person has not done
sufficient work to classify the historical estimate as current
resources and Intact Gold is not treating the historical estimate
as current mineral resources.
Neither 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 release.
SOURCE Intact Gold Corp
