Integra Resources Corp. (“Integra” or the “Company”)
(TSX-V:ITR; OTCQX:IRRZF) is pleased to report a series of
high grade gold-silver drill results from the 2019 Fall drill
programs at Florida Mountain and War Eagle Mountain, situated on
the DeLamar Project in southwest Idaho.
“The results announced today further underscore
the potential for high grades of gold and silver to occur in the
low sulphidation epithermal systems at the DeLamar Project,” stated
George Salamis, Integra’s President and CEO. “The Company has
completed seven drill holes at War Eagle covering a strike length
of 300 meters. High gold and silver grades were encountered in two
of the first three holes from War Eagle, with four drill holes
still pending from the campaign. At Florida Mountain, high gold and
silver grades were encountered in low grade zones that were drilled
for metallurgical sampling purposes. In some of these zones, high
grades had not previously been modeled, supporting the exploration
thesis that additional high-grade zones are prevalent and
undiscovered at Florida Mountain. Results from these two areas,
separated by over 4.75 km, highlight the high-grade nature of these
deposits and further corroborate the narrative of a high-grade
mining history in the DeLamar and Silver City districts, where
grades of these sorts were commonly mined underground in the late
1800’s and early 1990’s.” Mr. Salamis added, “The exploration
program at Florida Mountain in 2020 will focus in part on the
connection between the shallow high-grade zones encountered this
year in near surface drill holes and the high-grade veins that were
mined historically below Florida Mountain. As highlighted in the
Company’s Preliminary Economic Assessment, the potential for future
high-grade mineralization to augment low-grade mill feed in future
milling scenarios could significantly enhance production profiles
and future economics at the Project and remains entirely relevant
at this point. Further testing of these and other high-grade zones
is planned for 2020.”
War Eagle High Grade
Drilling at War Eagle commenced in October of
this year, with seven drill holes completed over a strike length of
300 m, for a total of 2,230 m completed to date. High-grade gold
and silver mineralization is hosted in quartz-pyrite cemented
rhyolite breccias and brecciated volcano-sediments. All holes
drilled this year at War Eagle intersected these mineralised
breccias to varying degrees.
The following table highlights selected
intercepts from the War Eagle drill holes announced today:
Drill Hole Number |
From (m) |
To (m) |
Interval (m) (1) |
g/t Au(3) |
g/t Ag(3) |
g/t AuEq(2) |
IWE-19-01Incl:Incl: |
116.74116.74147.83 |
150.88121.01150.88 |
34.144.273.05 |
10.8873.629.93 |
115.31817.2648.34 |
12.3784.1410.55 |
IWE-19-01 |
315.16 |
317.30 |
2.13 |
6.03 |
269.33 |
9.50 |
IWE-19-02Incl: |
172.82194.16 |
196.14195.38 |
23.321.22 |
1.408.32 |
51.42713.73 |
2.0617.51 |
IWE-19-02 |
87.48 |
88.70 |
1.22 |
2.32 |
0.83 |
2.33 |
(1) Downhole thickness; not yet able to estimate
true width as drill hole data for only 3 drill holes has been
received to date (2) Gold equivalent = g Au/t + (g Ag/t
÷ 77.70) (3) Intervals reported are uncapped
To view a cross section of War Eagle, please
click the following link:
https://www.integraresources.com/site/assets/files/2572/war_cross_section_dec_2019.pdf
To view a plan view of the War Eagle area,
please click the following link:
https://www.integraresources.com/site/assets/files/2572/w_eagle_dec_2019_collars_-_map.pdf
The War Eagle district has a long and
illustrious history of high-grade underground mining, dating back
to the late 1800’s. Based upon records from the 1800’s, gold and
silver mineralized material from War Eagle was recovered in far
greater amounts from far less material mined, resulting in a
significantly higher unit value per ton than any other mining
operation in the district. Integra’s high-grade intercepts reported
today support the relevance of the high-grade history at War
Eagle.
Results are pending from four additional drill
holes completed at War Eagle. Given the high grades results
reported today, Integra plans on completing additional exploration
work at War Eagle in the Spring of 2020. A soil sampling program
completed in early November delineated a large north-south trending
200 m x 1000 m soil arsenic (“As”) and gold anomaly several hundred
meters east of the structures drilled in 2019. An induced
polarization (“IP”) survey is also planned for late Q2 2020 to help
define drill targets in this large As-Au anomaly prior to
recommencing drilling.
Florida Mountain High-Grade
The following table highlights selected
intercepts from the Florida Mountain metallurgical testwork drill
holes released today:
Drill Hole Number |
From (m) |
To (m) |
Interval (m) (1) |
g/t Au(3) |
g/t Ag(3) |
g/t AuEq(2) |
IFM-19-050Incl:Incl: |
8.0816.4623.17 |
53.8618.5924.84 |
45.782.131.68 |
1.6919.586.82 |
26.4668.1810.15 |
2.0320.466.95 |
IFM-19-054 |
55.47111.86 |
58.52113.39 |
3.051.52 |
3.069.70 |
253.6812.85 |
6.329.87 |
IFM-19-057 |
5.188.239.45 |
6.719.4510.97 |
1.521.221.52 |
9.3112.875.17 |
3.4017.914.72 |
9.3513.105.23 |
IFM-19-058 |
206.35 |
207.87 |
1.52 |
18.50 |
850.70 |
29.45 |
IFM-19-062Incl: |
0.000.00 |
37.954.88 |
37.954.88 |
2.127.68 |
181.96623.86 |
4.4715.71 |
IFM-19-064Incl:Incl: |
23.4755.4767.36 |
69.8059.8969.80 |
45.423.511.52 |
1.750.465.70 |
114.17508.98621.89 |
3.227.0113.70 |
(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 80% conversion ratio)
(2) Gold equivalent = g Au/t + (g Ag/t ÷ 77.70)
(3) Intervals reported are uncapped
To view a plan view of the Florida Mountain
area, please click the following link:
https://www.integraresources.com/site/assets/files/2572/florida_collars_dec_2019_-_map.pdf
Integra embarked upon a shallow (less than 200m
vertical) metallurgical drill program at Florida Mountain, that
commenced in August of this year. The program was designed to
collect low-grade oxide and transitional sample material for
pre-feasibility level metallurgical test-work purposes, with the
results feeding into future studies. The high-grade intercepts
reported today with 1.5m to 5m wide intervals are from the upper
levels of the Trade Dollar, Alpine and Tip Top veins. Historic
records from the underground mining era clearly demonstrate that
these veins were most productive in the underlying granite
transitioning upwards into broad stockwork zones in the overlying
rhyolite flows. Within the granite, individual stopes typically had
down dip extents of several hundred meters over strike-lengths of
100 to 200 m, with a reported cut-off grades of +15 g/t Au and some
stopes reportedly averaging in excess of 60 g/t Au. The Trade
Dollar vein, which was the most extensively mined structure, had an
overall strike length in excess of 2,000 m, while the strike
extents of the Alpine and Tip Top vein systems are not yet
defined.
The high-grade intercepts encountered as part of
this metallurgical sampling program are considered to be very
encouraging as they demonstrate that the Tip Top and Alpine veins,
like the Trade Dollar vein, represent high-grade vein targets.
These targets, particularly in the underlying granite, remain
largely untested by drilling. The intercepts reported today,
together with an analysis of blast-hole data from the 1990’s
open-pit operation, are being used to target the locations of
potentially high-grade mineralized shoots in the underlying
granite. Testing these deeper targets is planned to be a
significant part of the 2020 exploration program at Florida
Mountain.
High Grade Gold-Silver Thesis to
Potentially Augment Future Milling Scenario Highlighted in the
PEA
As highlighted in the recent PEA, future
processing of gold and silver mineralization at DeLamar
contemplates milling of Florida Mountain unoxidized mineralization
through a 2,000 tonne per day mill scenario. The feed grade for
this mineralization was estimated to be approximately 1 g/t AuEq
and was to be concentrated through flotation before regrinding and
leaching.
Given the recent discovery of high grades at
both War Eagle and Florida Mountain and the prospects for
increasing the resource on the multiple trends that extend past the
margins, subject to future studies and drill results, it is
possible that the contemplated 1 g/t AuEq unoxidized feed grade
could be augmented by material of a much higher grade. Future
drilling and studies will be designed to explore this option.
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 Resources 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 Resources 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
DIRECTORS
George Salamis
President, CEO and Director
Forward looking and other cautionary
statements
This news release contains “forward-looking
information” which may include, but is not limited to, statements
with respect to the activities, events or developments that the
Company expects or anticipates will or may occur in the future.
Forward-looking information in this news release includes
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results, performance or achievements of the Company to be
materially different from any future results, performance or
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the speculative nature of the Company’s business, the Company’s
formative stage of development and the Company’s financial
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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
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