Integra Resources Corp. (“Integra” or the
“Company”) (TSX-V:ITR ; NYSE American:
ITRG) is pleased to report a series of high-grade
gold-silver drill results from the 2020 drill program at War Eagle
Mountain, situated on the DeLamar Project in southwest Idaho.
“The drill results announced today once again
demonstrate the occurrence of high-grade gold and silver at War
Eagle, highlighting the potential for high-grade resource expansion
on the DeLamar Project. These drill results further confirm the
presence of a high-grade, steeply dipping mineralized structure in
the location of the 2019 drill program. Multiple intersects of
high-grade gold and silver were encountered in follow-up drilling
and suggest the potential for high-grade gold-silver continuity in
the north-northwest striking structure,” noted President and CEO
George Salamis. “In addition to follow-up drilling in the location
of the 2019 drill program, the Company also discovered a high-grade
mineralized zone 400 m to the north of the 2019 drill holes. This
second parallel structure has a strike extent of over 500 m and is
largely untested. Our exploration team will look to incorporate the
data from this exciting 2020 drill program at War Eagle as we
further model the high-grade structures and plan an Induced
Polarization study and drill testing for 2021 to further identify
the target zones at War Eagle.”
To view a video summary of today’s news release,
please click on the following link:
https://youtu.be/hKb6HELt3z0
War Eagle Drill Highlights:
The following table highlights selected
intercepts from the War Eagle Mountain 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-20-009 |
103.33 |
104.39 |
1.07 |
3.51 |
12.00 |
3.66 |
IWE-20-009 |
156.36 |
157.89 |
1.52 |
4.09 |
15.80 |
4.29 |
IWE-20-009Incl: |
167.03167.03 |
177.70168.55 |
10.671.52 |
1.012.99 |
7.4228.43 |
1.103.36 |
IWE-20-012 |
103.02 |
104.24 |
1.22 |
1.14 |
2.89 |
1.18 |
IWE-20-012 |
298.70 |
300.23 |
1.52 |
1.10 |
0.50 |
1.11 |
IWE-20-013Incl: |
212.75221.44 |
221.89221.89 |
9.140.46 |
0.984.87 |
7.3013.67 |
1.085.05 |
IWE-20-013 |
236.98 |
238.51 |
1.52 |
1.46 |
0.31 |
1.46 |
IWE-20-013 |
241.71 |
243.23 |
1.52 |
1.48 |
0.60 |
1.49 |
IWE-20-014Incl:Incl: |
133.50135.03138.14 |
141.12138.14139.90 |
7.623.111.77 |
24.202.9598.01 |
655.0614.462782.13 |
32.633.13133.82 |
IWE-20-014 |
174.65 |
177.70 |
3.05 |
2.14 |
3.61 |
2.18 |
IWE-20-014 |
308.76 |
310.29 |
1.52 |
3.18 |
0.51 |
3.19 |
IWE-20-015 |
157.89 |
159.41 |
1.52 |
8.46 |
7.24 |
8.56 |
IWE-20-016 |
121.01 |
121.62 |
0.61 |
4.53 |
9.63 |
4.65 |
IWE-20-016Incl: |
182.27209.70 |
212.90211.23 |
30.631.52 |
1.198.46 |
11.659.11 |
1.348.57 |
IWE-20-017 |
209.70 |
211.23 |
1.52 |
21.85 |
76.39 |
22.84 |
(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
uncapped2019 Drill Highlights:
The following table highlights selected
intercepts from previously announced War Eagle Mountain drill
holes. (See news release dated December 10, 2019)
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; 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 plan view of the 2020 drill campaign, please
click on the following link:
https://www.integraresources.com/site/assets/files/2572/war_eagle_plan_map_2020_vfinal.pdf
To view cross sections of the War Eagle Target,
please click on the following links:
https://www.integraresources.com/site/assets/files/2572/cross_section_a-a_-_war_eagle_vfinal.pdf
https://www.integraresources.com/site/assets/files/2572/cross_section_b-b_-_war_eagle_vfinal.pdf
War Eagle Mountain
Drilling at War Eagle has identified two
parallel mineralized structures approximately 150 m apart with
strike lengths of over 500 m. These principal structures host
high-grade gold and silver mineralization associated with
quartz-pyrite veinlets within rhyolite breccias and brecciated
volcano-sediments. The mineralization identified to date within the
volcanics is considered to be within the diffuse cap which sits
above the modelled high-grade veins within the underlying granite.
The broad distribution of mineralization delineated by the soil
geochemical anomalies indicates considerable lateral dispersion of
mineralization within the permeable volcanic cap, possibly from a
structure several hundred meters east of the known mineralized
structures. All holes drilled this year at War Eagle intersected
these mineralized zones to varying degrees, highlighting the
presence of high-grade gold silver concentrations in the form of
100 m to 200 m strike lengths in steeply plunging shoots. In total,
the Company drilled 3,675 m in 10 drill holes at War Eagle in the
2020 campaign.
In 2019, Integra discovered a large geochemical
anomaly 300 m east of the 2019 drill campaign. In 2020, the Company
drilled 5 drill holes into this anomaly, discovering the second,
parallel mineralized structure at War Eagle. This second structure
was drilled 400 m to the north of the 2019 drill holes and returned
the highest-grade gold and silver assays of the 2020 campaign. This
structure is currently modeled to have a strike length of
approximately 550 m south-southeast and is largely untested. The
geochemical soil anomaly that led the Company to this new structure
is interpreted as being lateral leakage outward along the base of
the latite flow, presumably emanating from the eastern most
structure identified in this year’s drill program.
War Eagle: Next Steps
In 2021, the Company plans to complete an
induced polarization (“IP”) survey at War Eagle, as well as further
drill testing adjacent to some of the areas where high-grade was
intersected in the 2019 and 2020 drill programs. IP has proven to
be a valuable targeting tool at Florida Mountain, DeLamar and
Blacksheep as it detects disseminated sulphide mineralization in
the underlying rock that is in many cases gold and silver bearing.
The IP program at War Eagle will follow-up on the geochemical
survey completed in 2019 and the two drill programs to date. The
majority of drilling thus far has identified mineralization within
the capping volcanics. Intersecting high-grade mineralization
within the volcanics is encouraging; however, most of the
historical mining in the district took place in the underlying
granite. The 2021 exploration drill program at War Eagle will focus
on better defining the controlling structures in the underlying
granite and defining the expected high-grade shoots which are
anticipated to underly the diffuse cloud of mineralization present
within the overlying volcanics.
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 Laboratories 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.
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).”
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.
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.
ON BEHALF OF THE BOARD OF DIRECTORSGeorge
SalamisPresident, CEO and Director
CONTACT INFORMATIONCorporate Inquiries:
ir@integraresources.comCompany website: www.integraresources.com
Office 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 impact of COVID-19 on the
timing of exploration and development work; 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 US INVESTORS WITH
RESPECT TO MINERAL RESOURCES
The SEC has adopted amendments to its disclosure
rules to modernize the mineral property disclosure requirements for
issuers whose securities are registered with the SEC. These
amendments became effective February 25, 2019 (the “SEC
Modernization Rules”) and, following a two-year transition period,
the SEC Modernization Rules will replace the historical property
disclosure requirements for mining registrants that are included in
Industry Guide 7. Following the transition period, as a foreign
private issuer that files its annual report on Form 40-F with the
SEC pursuant to the multi-jurisdictional disclosure system, the
Company is not required to provide disclosure on its mineral
properties under the SEC Modernization Rules and will continue to
provide disclosure under NI 43-101 and the CIM Definition
Standards. If the Company ceases to be a foreign private issuer or
loses its eligibility to file its annual report on Form 40-F
pursuant to the multi-jurisdictional disclosure system, then the
Company will be subject to the SEC Modernization Rules which differ
from the requirements of NI 43-101 and the CIM Definition
Standards.
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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