Integra Resources Corp. (“Integra” or the “Company”)
(TSX-V:ITR; NYSE
American: ITRG)
is pleased to announce further exploration results from the 2020
Florida Mountain exploration program at the DeLamar Project,
situated in Owyhee County in southwest Idaho. The drill and
geophysics results outlined today continue to underscore the strong
exploration potential that exists in near-deposit targets at
Florida Mountain.
“With three exploration drill rigs in operation
at the DeLamar Project, today’s drill results continue to
demonstrate the potential for a significant high-grade resource at
Florida Mountain,” commented George Salamis, President and CEO of
Integra Resources. “In addition to today’s strong drill results,
the first IP geophysics campaign at Florida Mountain has identified
a large chargeability anomaly immediately west of the current NI
43-101 resource that coincides strongly with soil geochemistry. In
addition to the aggressive 16,000 m exploration drill campaign
underway, this year’s extensive IP geophysics work is progressing
rapidly. The results to date have continued to correlate strongly
with known mineralization, while simultaneously identifying new
areas that are yet to be drill tested.”
Florida Mountain
Drill Results
The following table highlights selected
intercepts from the Florida Mountain drill holes announced
today:
Drill Hole Number |
From (m) |
To(m) |
Interval(m)
(1) |
g/t
Au(2) |
g/t
Ag(2) |
g/t
AuEq(3) |
FME-20-079 |
51.82 |
99.67 |
47.85 |
0.40 |
7.68 |
0.50 |
FME-20-080 |
209.09 |
241.10 |
32.00 |
0.51 |
27.27 |
0.86 |
FME-20-080Incl: |
304.80305.71 |
306.48306.48 |
1.680.76 |
11.7525.29 |
1,951.883,841.14 |
36.8774.73 |
FME-20-80 |
321.87 |
324.31 |
2.44 |
0.01 |
354.47 |
4.57 |
FME-20-081 |
244.30 |
244.91 |
0.61 |
11.07 |
1,480.13 |
30.12 |
FME-20-083 |
101.50 |
151.79 |
50.29 |
0.44 |
8.04 |
0.54 |
FME-20-084Incl:Incl:Incl:Incl
STOPE(4):
Incl:Incl: |
1.981.9816.6724.6934.1441.7686.87 |
89.468.2319.2027.7439.5043.1388.09 |
87.486.252.533.055.361.371.22 |
1.518.915.640.900.007.5710.80 |
102.12607.55245.38607.500.00652.545.85 |
2.8216.738.798.720.0015.9610.87 |
(1) |
Downhole thickness; true width varies depending on drill hole dip;
most drill holes are aimed at intersecting the vein structures
close to perpendicular therefore true widths are close to downhole
widths (approximately 70% conversion ratio) |
(2) |
Intervals reported are uncapped |
(3) |
Gold equivalent = g Au/t + (g Ag/t ÷ 77.70) |
(4) |
For the interval that was previously mined/stoped and was therefore
unrecoverable and unverifiable, a grade of 0 g/t Au was inserted
for compositing. |
To view a plan map showing the drill hole
locations of today’s results at Florida Mountain, please click the
following link:
https://www.integraresources.com/site/assets/files/2572/plan_view_-_updated.pdf
The intercepts reported today consist of
mineralization with wide-spread low-grade gold-silver values,
crosscut and underlain by narrower high-grade, steeply dipping
low-sulphidation quartz-adularia veins. Widespread intercepts from
shallow oxide and transitional resource definition drilling
conducted by Integra over the previous two years has confirmed
potentially mineable widths and grades for these high-grade
structures.
Integra’s exploration team has modeled 7
high-grade vein structures that appear similar in size and
orientation to the historically productive high-grade Trade Dollar
– Black Jack vein system. Most historic underground production
stemmed from the Trade Dollar – Black Jack vein, while the
remaining 6 veins saw limited production up until mining operations
ceased with the start of World War 1. Geometrically, the veins
occur in the form of plunging shoots over an altitude difference of
approximately 300 m below the apex of Florida Mountain. Strike
lengths of the individual shoots tend to be 100 m to 200 m long and
with widths of between 1 m and 8 m.
This recently improved model of high-grade veins
at Florida Mountain provided much of the fundamental data that
helped design the drill program currently underway. In today’s
results, drill hole FME-20-084 intercepted several of the
high-grade plunging shoots in a target area where Integra
geologists have modelled the northern extension of the Trade Dollar
– Black Jack vein. Deep intersects on drill hole FME-20-80 have
intercepted the extension of the Alpine Vein, one of the six veins
west of the Trade Dollar – Black Jack vein. Since 2018, Integra has
drilled 13 drill holes at Florida Mountain that have intersected
the targeted high-grade shoots. Of these 13 drill holes, 8 drill
holes intersected sufficiently encouraging widths and grades to
warrant further exploration for potentially underground mineable
mineralization at Florida Mountain. To date, only a small
percentage of these prospective vein structures have been drill
tested.
Induced Polarization Geophysics
Results
The Company recently completed the first 4 lines
of a 12-line IP geophysics program over Florida Mountain. IP has
proven to be a very effective tool for target generation in the
DeLamar District because of the association of disseminated sulfide
alteration with gold and silver mineralization. The IP data
released today delineates an anomaly 1,200 m in length to the west
of the NI 43-101 Resource Estimate at Florida Mountain in an area
known as Rich Gulch. This anomaly coincides with an arsenic (“As”)
and Au soil geochemistry anomaly. Historic drilling within the
delineated zone of high-chargeability reported the following select
intercepts:
Drill Hole Number* |
From (m) |
To (m) |
Interval (m) |
g/t Au |
SRDH6 |
0.0 |
53.34 |
53.34 |
11.13 |
F0500 |
74.68 |
123.44 |
48.76 |
0.94 |
F0482 |
1.52 |
35.05 |
33.53 |
0.79 |
*The historic drill data reported in this
release was developed by previous operators of the Florida Mountain
Project prior to the introduction of NI43-101. Historic drill
intersections are reported as drilled thicknesses. True widths of
the mineralized intervals are estimated to be less than 75% of the
reported widths. The historic drill data was sourced from
Kinross/Nerco DeLamar Mine exploration and production data and
reports. Integra Resources is providing this historic data for
informational purposes only, and gives no assurance as to its
reliability or relevance. Integra Resources has not completed any
quality assurance program or applied quality control measures to
the historic data. Accordingly, the historic data should not be
relied upon.
To view a south looking cross section displaying
chargeability in context of soil surface sampling data at Florida
Mountain, please click the following link:
https://www.integraresources.com/site/assets/files/2572/ip_chargeability_diagram_-_rich_gulch.pdf
Metallurgical Testwork
Drill Highlights
The following table highlights notable
intercepts from the 2020 Metallurgical testwork drill holes
announced today:
Drill Hole Number |
Location |
From (m) |
To(m) |
Interval(m)
(1) |
g/t
Au(2) |
g/t
Ag(2) |
g/t
AuEq(3) |
IDM-20-165 |
South Wahl |
8.23 |
10.52 |
2.29 |
17.45 |
56.22 |
18.18 |
IDM-20-172 |
Milestone |
49.53 |
142.34 |
92.81 |
0.30 |
61.30 |
1.09 |
(1) |
Downhole thickness; true width varies depending on drill hole dip;
most drill holes are aimed at intersecting the vein structures
close to perpendicular therefore true widths are close to downhole
widths (approximately 70% conversion ratio) |
(2) |
Intervals reported are uncapped |
(3) |
Gold equivalent = g Au/t + (g Ag/t ÷ 77.70) |
The 2020 metallurgical drill program has been
designed to characterize recovery variability within the oxide and
transitional mineralization at the DeLamar Project. The program
seeks to further optimize processing options at DeLamar and Florida
Mountain, and advance the Company’s metallurgical knowledge as
Integra moves toward a pre-feasibility level on both Deposits in
2021.
Notable drill results from the program to date,
in addition to the expected runs of mineralization in line with the
current NI 43-101 resource, are provided in the table above. These
results underscore the potential for high grade in historic
structures that have not been the target of much modern exploration
drilling, as well as the strong potential to increase the current
resource as Integra aims to push all current drill holes beyond and
below its boundary.
Next Phases of the 2020 Exploration
Drill Program
At present, two exploration drill rigs continue
to target high-grade vein structures on Florida Mountain, while a
third exploration drill rig is on War Eagle Mountain where it has
recently moved to test the soil geochemical anomaly identified in
2019. Florida Mountain drilling continues to test the
“proof-of-concept” for high-grade underground veins. A second phase
of drilling at Florida Mountain will shift the focus to drill
testing the north and south extensions to the near-surface oxide
and transitional mineralization. Results to date of the
Project-wide 2020 exploration drill program have been released for
3,050 m of the proposed 16,000 m program.
Following drilling at Florida Mountain and War
Eagle, drill rigs will then move to the Blacksheep Area and the
Deadwood Ridge Area that lie northwest of the DeLamar Deposit,
where approximately 3,000 m of exploration drilling is planned to
test several significant soil geochemical and IP anomalies. A
recent rock chip sampling program was completed over the
outcropping vein zone at Georgianna in the southern half of Black
Sheep. In addition, a zone approximately 300 m x 100 m of intense
stockwork vein mineralization was delineated at the Lucky Days
target also in Blacksheep.
Below is a table highlighting selective rock
chip samples from these programs:
Sample |
Prospect |
Type |
AuEq |
Au Final (ppm) |
Ag Final (ppm) |
102512 |
Lucky Day |
Rock Chip |
3.724 |
0.291 |
266.77 |
102513 |
Lucky Day |
Rock Chip |
2.264 |
0.184 |
161.63 |
102527 |
Lucky Day |
Rock Chip |
4.339 |
0.857 |
270.55 |
102543 |
Lucky Day |
Subcrop |
1.429 |
0.327 |
85.63 |
102300 |
Argentum |
Float |
1.339 |
0.145 |
92.78 |
483428 |
Georgianna |
Rock Chip |
1.687 |
0.125 |
121.40 |
483464 |
Georgianna |
Rock Chip |
1.848 |
0.146 |
132.27 |
101353 |
Georgianna |
Float |
14.738 |
13.328 |
109.57 |
101440 |
Georgianna |
Outcrop |
2.457 |
1.120 |
103.90 |
101609 |
Lucky Day |
Float |
1.541 |
0.027 |
117.67 |
To view a map of Blacksheep, click here:
https://vrify.com/explore/decks/9550
Sampling and QA/QC
Procedure
Thorough QA/QC protocols are followed on the
Project, including insertion of duplicate, blank and standard
samples in the assay stream for all drill holes. The samples are
submitted directly to American Assay Labs in Reno, Nevada for
preparation and analysis. Analysis of gold is performed using fire
assay method with atomic absorption (AA) finish on a 1 assay ton
aliquot. Gold results over 5 g/t are re-run using a
gravimetric finish. Silver analysis is performed using ICP for
results up to 100 g/t on a 5 acid digestion, with a fire
assay, gravimetric finish for results over 100 g/t silver.
Qualified Person
The scientific and technical information
contained in this news release has been reviewed and approved by E.
Max Baker PhD. (FAusIMM), Integra’s Vice President Exploration, of
Reno, Nevada, and is a “Qualified Person” (“QP”) as defined in
National Instrument 43- 101 – Standards of Disclosure for Mineral
Projects.
About Integra Resources
Integra is a development-stage mining company
focused on the exploration and de-risking of the past producing
DeLamar Gold-Silver Project in Idaho, USA. Integra is led by the
management team from Integra Gold Corp. which successfully grew,
developed and sold the Lamaque Project, in Quebec, for C$600 M in
2017. Since acquiring the DeLamar Project, which includes the
adjacent DeLamar and Florida Mountain gold and silver Deposits, in
late 2017, the Company has demonstrated significant resource growth
and conversion while providing a robust economic study in its
maiden Preliminary Economic Assessment. The Company is currently
focused on resource growth through brownfield and greenfield
exploration and the start of pre-feasibility level studies designed
to advance the DeLamar Project towards a potential construction
decision. For additional information, please reference the
“Technical Report and Preliminary Economic Assessment for the
DeLamar and Florida Mountain Gold – Silver Project, Owyhee County,
Idaho, USA (October 22, 2019).”
ON BEHALF OF THE BOARD OF
DIRECTORSGeorge SalamisPresident, CEO and Director
CONTACT INFORMATIONCorporate Inquiries:
ir@integraresources.comCompany website:
www.integraresources.comOffice phone: 1 (604) 416-0576
Forward looking and other cautionary
statements
This news release contains “forward-looking
information” and “forward-looking statements” (collectively,
“forward-looking statements”) within the meaning of the applicable
Canadian securities legislation. All statements, other than
statements of historical fact, are forward-looking statements and
are based on expectations, estimates and projections as at the date
of this news release. Any statement that involves discussion with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions, future events or performance (often, but
not always using phrases such as “plans”, “expects”, “is expected”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”,
“anticipates”, or “believes” or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results “may”, “could”, “would”, “might” or
“will” be taken, occur or be achieved) are not statements of
historical fact and may be forward-looking statements. . In this
news release, forward-looking statements relate, among other
things, to: statements about the estimation of mineral resources;
magnitude or quality of mineral deposits; anticipated advancement
of mineral properties or programs; future operations; future
exploration prospects; the completion and timing of mineral
resource estimates and PEA; future growth potential of Integra; and
future development plans.
These forward-looking statements, and any
assumptions upon which they are based, are made in good faith and
reflect our current judgment regarding the direction of our
business. Management believes that these assumptions are
reasonable. Forward-looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information. Such factors include, among others: risks related to
the speculative nature of the Company’s business; the Company’s
formative stage of development; the Company’s financial position;
possible variations in mineralization, grade or recovery rates;
actual results of current exploration activities; actual results of
reclamation activities; conclusions of future economic evaluations;
business integration risks; fluctuations in general macroeconomic
conditions; fluctuations in securities markets; fluctuations in
spot and forward prices of gold, silver, base metals or certain
other commodities; fluctuations in currency markets (such as the
Canadian dollar to United States dollar exchange rate); change in
national and local government, legislation, taxation, controls
regulations and political or economic developments; risks and
hazards associated with the business of mineral exploration,
development and mining (including environmental hazards, industrial
accidents, unusual or unexpected formation pressures, cave-ins and
flooding); inability to obtain adequate insurance to cover risks
and hazards; the presence of laws and regulations that may impose
restrictions on mining; employee relations; relationships with and
claims by local communities and indigenous populations;
availability of increasing costs associated with mining inputs and
labour; the speculative nature of mineral exploration and
development (including the risks of obtaining necessary licenses,
permits and approvals from government authorities); and title to
properties. Although the forward-looking statements contained in
this news release are based upon what management of Integra
believes, or believed at the time, to be reasonable assumptions,
Integra cannot assure its shareholders that actual results will be
consistent with such forward-looking statements, as there may be
other factors that cause results not to be anticipated, estimated
or intended.
Forward-looking statements contained herein are
made as of the date of this news release and the Company disclaims
any obligation to update any forward-looking statements, whether as
a result of new information, future events or results, except as
may be required by applicable securities laws. There can be no
assurance that forward-looking information 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
information.
Cautionary Note to U.S. Investors
Concerning Estimates of Measured, Indicated and Inferred
Resources
The terms “mineral resource”, “measured mineral
resource”, “indicated mineral resource”, “inferred mineral
resource” used herein are Canadian mining terms used in accordance
with National Instrument 43-101 - Standards of Disclosure for
Mineral Projects ("NI 43-101") under the guidelines set out in the
Canadian Institute of Mining and Metallurgy and Petroleum (the
“CIM”) Standards on Mineral Resources and Mineral Reserves, adopted
by the CIM Council, as may be amended from time to time (the “CIM
Definition Standards”). Inferred mineral resources' have a great
amount of uncertainty as to their existence, and as to their
economic and legal feasibility. It cannot be assumed that all or
any part of an inferred mineral resource will ever be upgraded to a
higher category. These definitions differ from the definitions in
the United States Securities and Exchange Commission (the "SEC")
Industry Guide 7 ("Industry Guide 7"). United
States investors are cautioned not to assume that all or any
part of measured or indicated mineral resources will ever be
converted into mineral reserves. United States investors are
also cautioned not to assume that all or any part of an inferred
mineral resource exists, or is
economically or legally mineable.
Under Industry Guide 7, a mineral reserve is
defined as a part of a mineral deposit which could be economically
and legally extracted or produced at the time the mineral reserve
determination is made. While the terms “mineral resource”,
“measured mineral resource”, “indicated mineral resource”, and
“inferred mineral resource” are recognized and required by Canadian
regulations, they are not defined terms under Industry Guide 7 and
historically they have not been permitted to be used in reports and
registration statements filed with the SEC. As such, information
contained herein concerning descriptions of mineralization and
resources under Canadian standards may not be comparable to similar
information made public under Industry Guide 7 by U.S. companies in
SEC filings.
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 release.
Integra Resources (AMEX:ITRG)
Historical Stock Chart
From Aug 2024 to Sep 2024
Integra Resources (AMEX:ITRG)
Historical Stock Chart
From Sep 2023 to Sep 2024