Integra Resources Corp. (TSXV: ITR ; NYSE American: ITRG) -
- Drill results from Sullivan Gulch
located at the DeLamar Deposit include:
- IDE-22-226
- 0.54 grams per tonne (“g/t”) gold (“Au”) and 66.42 g/t silver
(“Ag”) (1.40 g/t gold equivalent (“AuEq”)) over 12.19 meters
(“m”)
- Including 0.99 g/t Au and 293 g/t Ag (4.76 g/t AuEq) over 2.02
m
- IDE-22-227
- 6.76 g/t Au and 309.38 g/t Ag
(10.75 g/t AuEq) over 9.14 m
- Including 104.28 g/t Au and 4,818
g/t Ag (166.28 g/t AuEq) over 0.46 m
- Including 3.55 g/t Au and 143.55
g/t Ag (5.40 g/t AuEq) over 2.90 m
- 3.71 g/t Au and 22.73 g/t Ag (4.01
g/t AuEq) over 12.20 m
- Including 25.54 g/t Au and 88.04
g/t Ag (26.68 g/t AuEq) over 1.52 m
- 4.94 g/t Au and 269.19 g/t Ag (8.40
g/t AuEq) over 7.02 m
- Including 7.06 g/t Au and 384.86
g/t Ag (12.01 g/t AuEq) over 4.58 m
- Including 16.01 g/t Au and 779.00
g/t Ag (26.04 g/t AuEq) over 1.53 m
- These drill results were completed
as part of an exploration drill program designed to delineate and
expand the width of mineralized vein structures at Sullivan Gulch
along strike and at depth.
- The drill results reported today
occur 25 m to 110 m below the southern portion of the proposed
Sullivan Gulch Pre-feasibility Study (“PFS”) pit shell.
- An enhanced understanding of the
underlying vein system at Sullivan Gulch is being developed and
tested to compliment the already large, continuous mineralized zone
at Sullivan Gulch, most of which was excluded from the Company’s
PFS and has the potential to add significant gold-silver
mineralization to future studies.
- Drilling to date at Sullivan Gulch
has delineated a mineralized zone extending over a strike length of
1,000 m with a width of 200 m and a depth of 350 m. Only 550 m of
this strike length are included in the PFS pit shell.
- Induced Polarization (“IP”)
Geophysics indicates that the Sullivan Gulch zone could extend a
further 900 m south of the southern-most fence of drill holes.
- One drill rig is currently on site
completing a step-out drill hole at Sullivan Gulch.
- To view a video of President and
CEO George Salamis discussing the drill results, click on the
following
link: https://www.youtube.com/watch?v=67EUNpDCH9c
Integra Resources Corp. (“Integra” or
the “Company”) is pleased to announce drill results
from a new exploration drill program at the DeLamar Project
(“DeLamar” or the “Project”). The drill results announced today are
from Sullivan Gulch, a target east-southeast of the DeLamar
Deposit. Exploration drilling at Sullivan Gulch has been designed
to delineate and expand the width of mineralized vein structures at
Sullivan Gulch along strike and at depth. The intercepts released
today were rushed at the assay laboratory due to visible veining
and strong XRF (X-ray fluorescence) analysis completed onsite. The
remaining portions of these drill holes are at the assay laboratory
and are expected to be available soon.
“Sullivan Gulch continues to be an exciting
target for the Company, typically characterized by long widths of
well-distributed mineralization. The drill program underway at
Sullivan Gulch currently is designed to test the underlying
high-grade gold-silver vein system which has seen limited
exploration to date. The drill results announced today from the
Sullivan Gulch vein system are the highest-grade intercepts
reported to date by the Company at the DeLamar Deposit, suggesting
the potential for additional high-grade vein systems at Sullivan
Gulch. These drill results, which occur outside the PFS open pit,
could further compliment a large, continuous mineralized zone that
already extends 1,000 m in the northwest-southeast direction with
widths of 200 m and depths of 350 m,” noted George Salamis,
President and CEO of Integra Resources. “The potential inclusion of
additional gold-silver mineralized material from Sullivan Gulch,
subject to further optimization work, has the potential to increase
future production profiles and mine life at the Project. Today’s
high-grade drill results, along with drill results released in
2018, 2019, and 2021 from Sullivan Gulch, demonstrate the potential
for the underlying high-grade gold-silver vein system to compliment
the multiple, consistent runs of more than 100 m grading over 1 g/t
AuEq at Sullivan Gulch.”
The following table highlights selected
intercepts from the Sullivan Gulch drill results announced
today:
Drill Hole |
From (m) |
To (m) |
Interval (m) |
g/t Au |
g/t Ag |
g/t AuEq |
IDE-22-226 |
218.85 |
231.04 |
12.19 |
0.54 |
66.42 |
1.40 |
including |
223.11 |
225.13 |
2.02 |
0.99 |
293 |
4.76 |
IDE-22-227 |
205.13 |
214.27 |
9.14 |
6.76 |
309.38 |
10.75 |
including |
207.14 |
207.60 |
0.46 |
104.28 |
4,818 |
166.28 |
including |
208.33 |
211.23 |
2.90 |
3.55 |
143.55 |
5.40 |
IDE-22-227 |
244.75 |
256.95 |
12.20 |
3.71 |
22.73 |
4.01 |
including |
253.90 |
255.42 |
1.52 |
25.54 |
88.04 |
26.68 |
IDE-22-227 |
313.33 |
320.35 |
7.02 |
4.94 |
269.19 |
8.40 |
including |
313.33 |
317.91 |
4.58 |
7.06 |
384.86 |
12.01 |
including |
313.33 |
314.86 |
1.53 |
16.01 |
779 |
26.04 |
(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) Gold equivalent = g Au/t + (g Ag/t ÷ 77.70)(3)
Intervals reported are uncappedTo view a cross section of Sullivan
Gulch, click on the link below:
https://integraresources.com/site/assets/files/2572/sg_cross_section_updated_vuse.pdf
To view a photo of drill core from this News
Release, click on the link below:
https://integraresources.com/site/assets/files/2572/sg_drill_core_photo_vuse.pdf
To view a drill plan map of Sullivan Gulch,
click on the link below:
https://integraresources.com/site/assets/files/2572/drill_collar_march2022-_dm_vuse.pdf
The mineralization at Sullivan Gulch is largely
hosted by porphyritic rhyolite and latite units, capped by a banded
rhyolite formation, all of which are of mid-Miocene age. The
gold-silver mineralization itself consists of a zone of moderately
intense low-sulphidation epithermal veining, clay alteration and
related disseminated sulphides (mostly pyrite). Drilling to date at
Sullivan Gulch has delineated mineralization extending over a
strike length of 1,000 m with a width of 200 m and a depth of 350
m. IP indicates the potential for mineralization to extend a
further 900 m to the south of the southern-most drilled section of
Sullivan Gulch. Current drilling underway is designed to expand the
width, depth, and length along strike of the known vein zone and to
explore further for additional, untested veins.
Current Drill Status
The Company currently has 1 drill rig in
operation at the DeLamar Project. This drill rig is testing
Sullivan Gulch to enhance the geological understanding and to
better define high grade vein zones.
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 Ph.D. (F.AusIMM), Integra’s Vice President Exploration of
Reno, Nevada, 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 completion of an independent technical report
for the PFS on the DeLamar Project announced on February 9, 2022.
The independent technical report prepared in accordance with the
requirements of NI 43-101 will be available under the Company’s
SEDAR profile within 45 days of the PFS news.
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 scope, timing and completion of the
Pre-feasibility study; estimates of metallurgical recovery rates
and the contribution of silver production to mining operations;
anticipated advancement of DeLamar and future exploration
prospects.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 for U.S. Investors
Concerning Mineral Resources and Reserves
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101") is a rule of the Canadian
Securities Administrators which establishes standards for all
public disclosure an issuer makes of scientific and technical
information concerning mineral projects. Technical disclosure
contained in this news release has been prepared in accordance with
NI 43-101 and the Canadian Institute of Mining, Metallurgy and
Petroleum Classification System. These standards differ from
the requirements of the U.S. Securities and Exchange Commission
(“SEC”) and resource information contained in this
press release may not be comparable to similar information
disclosed by domestic United States companies subject to the SEC's
reporting and disclosure requirements.
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.
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