TSXV: ITR; NYSE American: ITRG
www.integraresources.com
VANCOUVER, BC, Feb. 15,
2024 /CNW/ - Integra Resources Corp. ("Integra" or
the "Company") (TSXV: ITR) (NYSE American: ITRG) is pleased to
announce the second set of drill results from the 4,597 meter ("m")
2023 highwall geotechnical and metallurgical drill program at the
DeLamar Project ("DeLamar" or the "Project") located in
southwestern Idaho. The results
announced today include 20 drill holes representing 2,290 m from the highwall geotechnical and
metallurgical drill program which was completed in November 2023.
The core samples from the drill program will be used for
comprehensive mineralogical analysis, Crusher Work Index ("CWI")
testing and additional heap leach recovery analysis, including
bottle roll, permeability and column leach testwork. The
metallurgical drill results from the program will be used to
develop an advanced geo-metallurgical model that will support
future economic studies at the Project. Geotechnical drilling was
also completed in the proposed open pits at the Project to further
bolster the 3D geotechnical model and to provide additional data
for the Draft Mine Plan of Operations ("MPO"), which was submitted
to the U.S. Bureau of Land Management ("BLM") in December 2023.
Drilling
Highlights:
- The latest drilling highlights from the Florida Mountain
Deposit include:
- DH-FLM-23-MET02: 1.42 g/t grams per tonne ("g/t") gold
("Au") and 3.36 g/t silver ("Ag") (1.46 g/t gold equivalent
("AuEq")) over 134.11 m, including
103.57 g/t Au and 30.55 g/t Ag (103.96 g/t AuEq) over 1.52 m
- Excluding the high-grade intercept, the residual grade of
DH-FLM-23-MET02 is 0.25 g/t Au and 3.05 g/t Ag (0.29 g/t AuEq)
over 132.59 m, which is above the
cut-off grade of 0.17 g/t AuEq1
- DM-FLM-23-MET09: 0.30 g/t Au and 17.03 g/t Ag (0.52 g/t
AuEq) over 139.90 m, including 1.49
g/t Au and 437.00 g/t Ag (7.11 g/t AuEq) over 1.53 m
- Excluding the high-grade intercept, the residual grade of
DH-FLM-23-MET09 is 0.29 g/t Au and 12.39 g/t Ag (0.45 g/t
AuEq) over 138.37 m, which is above
the cut-off grade of 0.17 g/t AuEq1
- DH-FLM-23-MET12: 0.35 g/t Au and 2.22 g/t Ag (0.38 g/t
AuEq) over 80.47 m
- DH-FLM-23-MET15: 0.28 g/t Au and 3.58 g/t Ag (0.32 g/t
AuEq) over 189.89 m
- The latest drilling highlights from the DeLamar Deposit
include:
- DH-DLM-23-MET23: 0.27 g/t Au and 7.12 g/t Ag (0.36 g/t
AuEq) over 84.89 m
- DH-DLM-23-MET24: 0.74 g/t Au and 115.94 g/t Ag (2.24 g/t
AuEq) over 49.99 m, including 1.47
g/t Au and 263.48 g/t Ag (4.87 g/t AuEq) over 15.24 m
- Excluding the high-grade intercept, the residual grade of
DH-DLM-23-MET24 is 0.42 g/t Au and 51.23 g/t Ag (1.08 g/t
AuEq) over 34.75 m, which is above
the cut-off grade of 0.17 g/t AuEq1
- DH-DLM-23-MET33: 0.27 g/t Au and 24.90 g/t Ag (0.59 g/t
AuEq) over 52.73 m
- DH-DLM-23-MET38: 0.45 g/t Au and 14.33 g/t Ag (0.64 g/t
AuEq) over 74.98 m
(1)
|
Cut-off grade described
in NI 43-101 technical report titled: "Technical Report and
Preliminary Feasibility Study for the DeLamar and Florida Mountain
Gold-Silver project, Owyhee County, Idaho, USA", dated October 31,
2023 with an effective date of August 25, 2023, available under
Integra's SEDAR+ profile at www.sedarplus.ca
|
Integra's President, CEO & Director, Jason Kosec commented: "The drill results
announced today further demonstrate the size, grade, and continuity
of the mineral resource at DeLamar. Although the drill program was
primarily designed to collect material for heap leach metallurgical
testwork and geotechnical studies, we continue to intercept
significant mineralized widths at excellent grades throughout the
Project, exemplifying the robust nature of DeLamar. The results
from this drill program will be used to complete a Feasibility
Study at DeLamar in the future and to support on-going permitting
work at the Project, following the submission of the MPO to the BLM
in December 2023."
Detailed Drill Results
The following table highlights selected intercepts from the 2023
Florida Mountain Deposit drill program announced
today1,2,3,4:
Drill
Hole
|
From
(m)
|
To
(m)
|
Interval
(m)
|
g/t
Au
|
g/t
Ag
|
g/t
AuEq
|
DH-FLM-23-MET02
|
14.33
|
148.44
|
134.11
|
1.42
|
3.36
|
1.46
|
including
|
102.72
|
104.24
|
1.52
|
103.57
|
30.55
|
103.96
|
DH-FLM-23-MET05
|
0.00
|
111.25
|
111.25
|
0.13
|
18.36
|
0.36
|
DH-FLM-23-MET07
|
52.12
|
144.93
|
92.81
|
0.21
|
4.92
|
0.27
|
DH-FLM-23-MET09
|
0.00
|
139.90
|
139.90
|
0.30
|
17.03
|
0.52
|
including
|
47.24
|
48.77
|
1.53
|
1.49
|
437.00
|
7.11
|
DH-FLM-23-MET11
|
0.00
|
130.15
|
130.15
|
0.22
|
7.17
|
0.31
|
DH-FLM-23-MET12
|
5.79
|
86.26
|
80.47
|
0.35
|
2.22
|
0.38
|
DH-FLM-23-MET14
|
63.40
|
120.09
|
56.69
|
0.34
|
7.21
|
0.43
|
DH-FLM-23-MET15
|
0.00
|
189.89
|
189.89
|
0.28
|
3.58
|
0.32
|
(1)
|
Downhole thickness is
true thickness.
|
(2)
|
Intervals reported are
uncapped.
|
(3)
|
AuEq = g/t Au + (g/t Ag
÷ 77.70). Rounding may cause minor discrepancies in the AuEq
column.
|
(4)
|
Certain intervals were
not sampled because they were utilized for alternative purposes
requiring intact core (i.e. - geotechnical analysis, additional
metallurgical tests). These unsampled intervals (~1% of the total
program footage) have been replaced by 'zero grade' for the
purposes of this news release.
|
The following table highlights selected intercepts from the 2023
DeLamar Deposit drill program announced
today1,2,3,4:
Drill
Hole
|
From
(m)
|
To
(m)
|
Interval
(m)
|
g/t
Au
|
g/t
Ag
|
g/t
AuEq
|
DH-DLM-23-MET23
|
0.00
|
84.89
|
84.89
|
0.27
|
7.12
|
0.36
|
DH-DLM-23-MET23
|
116.43
|
145.09
|
28.66
|
0.39
|
5.77
|
0.47
|
DH-DLM-23-MET24
|
0.00
|
49.99
|
49.99
|
0.74
|
115.94
|
2.24
|
including
|
17.37
|
32.61
|
15.24
|
1.47
|
263.48
|
4.87
|
DH-DLM-23-MET29
|
20.73
|
39.81
|
19.08
|
0.13
|
13.52
|
0.30
|
DH-DLM-23-MET29
|
57.30
|
160.02
|
102.72
|
0.12
|
18.31
|
0.35
|
DH-DLM-23-MET31
|
67.67
|
112.47
|
44.80
|
0.33
|
21.83
|
0.61
|
DH-DLM-23-MET33
|
0.00
|
52.73
|
52.73
|
0.27
|
24.90
|
0.59
|
DH-DLM-23-MET34
|
2.44
|
58.83
|
56.39
|
0.14
|
16.87
|
0.36
|
DH-DLM-23-MET35
|
16.15
|
80.16
|
64.01
|
0.21
|
9.51
|
0.33
|
DH-DLM-23-MET36
|
0.00
|
110.64
|
110.64
|
0.20
|
11.41
|
0.34
|
DH-DLM-23-MET37
|
0.00
|
74.98
|
74.98
|
0.16
|
15.57
|
0.36
|
DH-DLM-23-MET38
|
0.00
|
74.98
|
74.98
|
0.45
|
14.33
|
0.64
|
DH-DLM-23-MET41
|
0.00
|
45.72
|
45.72
|
0.20
|
3.74
|
0.25
|
DM23-MET-P8
|
0.00
|
47.24
|
47.24
|
0.36
|
17.76
|
0.59
|
(1)
|
Downhole thickness is
true thickness.
|
(2)
|
Intervals reported are
uncapped.
|
(3)
|
AuEq = g/t Au + (g/t Ag
÷ 77.70). Rounding may cause minor discrepancies in the AuEq
column.
|
(4)
|
Certain intervals were
not sampled because they were utilized for alternative purposes
requiring intact core (i.e. - geotechnical analysis, additional
metallurgical tests). These unsampled intervals (~1% of the total
program footage) have been replaced by 'zero grade' for the
purposes of this news release.
|
Follow the link below to view drill collar location maps for the
Florida Mountain Deposit drill program:
https://integraresources.com/site/assets/files/2572/dc_feb_location_-_fm_nr_-_full_extent_vf.pdf
Follow the link below to view drill collar location maps for the
DeLamar Deposit drill program:
https://integraresources.com/site/assets/files/2572/dc_feb_location_-_dm_nr_-_full_extent_vf.pdf
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 Raphael Dutaut, Ph.D
(P.Geo), Integra's Vice President, Exploration. Mr. Dutaut is a
"Qualified Person" ("QP") as defined in National Instrument 43- 101
– Standards of Disclosure for Mineral Projects ("NI 43-101").
DeLamar Project Overview
The past producing DeLamar Project, which includes the adjacent
DeLamar and Florida Mountain gold
and silver deposits, is located in Owyhee
County in southwest Idaho.
Since acquiring the Project in 2017, the Company has demonstrated
significant resource growth and conversion while demonstrating
robust economic studies in its maiden Preliminary Economic
Assessment and Preliminary Feasibility Study. An independent
technical report for the DeLamar Project has been prepared in
accordance with the requirements of NI 43-101 and is available
under the Company's profile at www.sedarplus.ca
About Integra Resources
Integra is one of the largest precious metals exploration and
development companies in the Great Basin of the Western USA. Integra is currently focused on
advancing its two flagship oxide heap leach projects: the past
producing DeLamar Project located in southwestern Idaho and the Nevada North Project, comprised
of the Wildcat and Mountain View deposits, located in northwestern
Nevada. The Company also holds a
portfolio of highly prospective early-stage exploration projects in
Idaho, Nevada, and Arizona. Integra's long-term vision is to
become a leading USA focused
mid-tier gold and silver producer.
ON BEHALF OF THE BOARD OF DIRECTORS
Jason Kosec
President, CEO and Director
Forward Looking and Other
Cautionary Statements
Certain information set forth in this news release contains
"forward‐looking statements" and "forward‐looking information"
within the meaning of applicable Canadian securities legislation
and applicable United States
securities laws (referred to herein as forward‐looking statements).
Except for statements of historical fact, certain information
contained herein constitutes forward‐looking statements which
includes, but is not limited to, statements with respect to: the
future financial or operating performance of the Company and the
Company's mineral properties and project portfolio; the results
from work performed to date; the estimation of mineral resources
and reserves; the realization of mineral resource and reserve
estimates; the development, operational and economic results of
technical reports on mineral properties referenced herein;
magnitude or quality of mineral deposits; the anticipated
advancement of the Company' mineral properties and project
portfolios; exploration expenditures, costs and timing of the
development of new deposits; underground exploration potential;
costs and timing of future exploration; the completion and timing
of future development studies; estimates of metallurgical recovery
rates; exploration prospects of mineral properties; requirements
for additional capital; the future price of metals; government
regulation of mining operations; environmental risks; the timing
and possible outcome of pending regulatory matters; the realization
of the expected economics of mineral properties; future growth
potential of mineral properties; and future development plans.
Forward-looking statements are often identified by the use of
words such as "may", "will", "could", "would", "anticipate",
"believe", "expect", "intend", "potential", "estimate", "budget",
"scheduled", "plans", "planned", "forecasts", "goals" and similar
expressions. Forward-looking statements are based on a number of
factors and assumptions made by management and considered
reasonable at the time such information is provided. Assumptions
and factors include: the Company's ability to complete its planned
exploration programs; the absence of adverse conditions at mineral
properties; no unforeseen operational delays; no material delays in
obtaining necessary permits; the price of gold remaining at levels
that render mineral properties economic; the Company's ability to
continue raising necessary capital to finance operations; and the
ability to realize on the mineral resource and reserve estimates.
Forward‐looking statements necessarily involve known and unknown
risks and uncertainties, which may cause actual performance and
financial results in future periods to differ materially from any
projections of future performance or result expressed or implied by
such forward‐looking statements. These risks and uncertainties
include, but are not limited to: integration risks; general
business, economic and competitive uncertainties; the actual
results of current and future exploration activities; conclusions
of economic evaluations; meeting various expected cost estimates;
benefits of certain technology usage; changes in project parameters
and/or economic assessments as plans continue to be refined; future
prices of metals; possible variations of mineral grade or recovery
rates; the risk that actual costs may exceed estimated costs;
geological, mining and exploration technical problems; failure of
plant, equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing; the speculative
nature of mineral exploration and development (including the risks
of obtaining necessary licenses, permits and approvals from
government authorities); title to properties; and management's
ability to anticipate and manage the foregoing factors and risks.
Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in the forward-looking statements,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. Readers are
advised to study and consider risk factors disclosed in Integra's
annual report on Form 20-F dated March 17,
2023 for the fiscal year ended December 31, 2022, and Millennial Precious Metals
Corp's management's discussion and analysis dated April 28, 2023 for the fiscal year ended
December 31, 2022.
There can be no assurance that forward‐looking statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. The
Company undertakes no obligation to update forward‐looking
statements if circumstances or management's estimates or opinions
should change except as required by applicable securities laws. The
forward-looking statements contained herein are presented for the
purposes of assisting investors in understanding the Company's
plans, objectives and goals, and may not be appropriate for other
purposes. Forward-looking statements are not guarantees of future
performance and the reader is cautioned not to place undue reliance
on forward‐looking statements.
Cautionary Note for U.S. Investors
Concerning Mineral Resources and Reserves
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 news 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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SOURCE Integra Resources Corp.