TSXV: ITR; NYSE American:
ITR
www.integraresources.com
VANCOUVER, BC, Jan. 24,
2024 /PRNewswire/ - Integra Resources Corp.
("Integra" or the "Company") (TSXV: ITR) (NYSE American: ITRG)
is pleased to announce the first 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 10 drill holes representing
1,376 m from the drill program.
The highwall geotechnical and metallurgical drill program was
completed in November 2023. The
material from this drill program will be used for comprehensive
analysis including mineralogical characterization and Crusher Work
Index ("CWI") testing, as well as bottle roll, permeability, and
column leach testwork to better understand characteristics for
future heap leach mining. In addition, geotechnical drilling was
completed in the proposed open pits at the Project to evaluate the
stability of high walls and to provide more information for the 3D
geotechnical model. The drill program was completed in support of
the Draft Mine Plan of Operations ("MPO") and to gather additional
data for a future Feasibility Study on the Project.
Drilling
Highlights:
- The latest drilling highlights from the DeLamar Deposit
include:
-
- DH-DLM-23-MET22: 0.76 grams per tonne ("g/t") gold ("Au") and
257.43 g/t silver ("Ag") (4.07 g/t gold equivalent ("AuEq")) over
41.45 m
- DM-23-MET-P11: 0.40 g/t Au and 21.58 g/t Ag (0.67 g/t AuEq)
over 54.86 m
- The latest drilling highlights from the Florida Mountain
Deposit include:
-
- DH-FLM-23-MET03: 0.74 g/t Au and 13.28 g/t Ag (0.91 g/t AuEq)
over 157.43 m
- DH-FLM-23-MET04: 0.91 g/t Au and 13.46 g/t Ag (1.09 g/t AuEq)
over 69.50 m
- DH-FLM-23-MET13: 0.54 g/t Au and 6.62 g/t Ag (0.63 g/t AuEq)
over 99.97 m
- The drill results announced today demonstrate the strong
continuity of mineralization at DeLamar, including multiple drill
holes with mineralization beginning at surface.
Integra's President, CEO & Director, Jason Kosec commented: "The drill results
announced today come from a program primarily designed to collect
additional gold-silver mineralized material for metallurgical and
geotechnical testing. Intersecting significant widths of
mineralization in metallurgical and geotechnical drilling
demonstrates the strong resource continuity at DeLamar.
Furthermore, mineralization beginning at surface in multiple drill
holes highlights the low-strip ratio at the Project with minimal
waste or overburden sitting above in-situ resource. With the MPO
submitted to the Bureau of Land Management in December 2023, DeLamar is one of the few precious
metal projects in the USA which is
entering the National Environmental Policy Act permitting phase and
actively being advanced towards a production decision."
Detailed Drill Results
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-MET21
|
2.13
|
78.03
|
75.90
|
0.39
|
6.98
|
0.48
|
DH-DLM-23-MET22
|
7.01
|
19.20
|
12.19
|
0.17
|
2.82
|
0.20
|
DH-DLM-23-MET22
|
48.77
|
90.22
|
41.45
|
0.76
|
257.43
|
4.07
|
including
|
63.09
|
69.19
|
6.10
|
1.92
|
1655.50
|
23.22
|
DH-DLM-23-MET30
|
0.00
|
66.45
|
66.45
|
0.20
|
35.62
|
0.66
|
DM23-MET-P11
|
0.00
|
54.86
|
54.86
|
0.40
|
21.58
|
0.67
|
(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
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-MET01
|
52.43
|
148.90
|
96.47
|
0.18
|
19.46
|
0.43
|
including
stope
|
107.59
|
112.47
|
4.88
|
0.00
|
0.00
|
0.00
|
DH-FLM-23-MET03
|
21.95
|
179.38
|
157.43
|
0.74
|
13.28
|
0.91
|
including
|
113.08
|
126.49
|
13.41
|
3.06
|
37.28
|
3.54
|
DH-FLM-23-MET04
|
110.64
|
180.14
|
69.50
|
0.91
|
13.46
|
1.09
|
including
|
138.68
|
140.21
|
1.53
|
27.53
|
8.69
|
27.65
|
DH-FLM-23-MET08
|
6.86
|
182.73
|
175.87
|
0.17
|
2.67
|
0.21
|
DH-FLM-23-MET10
|
0.00
|
130.15
|
130.15
|
0.19
|
23.35
|
0.49
|
DH-FLM-23-MET13
|
0.00
|
99.97
|
99.97
|
0.54
|
6.62
|
0.63
|
(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
DeLamar Deposit drill program:
https://integraresources.com/site/assets/files/2572/dc_del_nr_-_full_extent.pdf
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_flom_nr_-_full_extent.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.
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 Intergra Resources Corp.