Integra Resources Corp. (“Integra” or the “Company”)
(TSX-V: ITR; NYSE American: ITRG) is pleased to announce
drill results from an ongoing metallurgical 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. Metallurgical drilling at Sullivan Gulch has
been designed to further optimize and potentially include
additional mineralized material from Sullivan Gulch in future
studies.
“Sullivan Gulch continues to be an exciting
target for the Company, typically characterized by long widths of
well-distributed mineralization. While a portion of mineralized
material from Sullivan Gulch will be included in the upcoming
Pre-feasibility Study, this drill program was designed to further
understand the metallurgy at Sullivan Gulch and demonstrate the
potential to add additional mineralized material from Sullivan
Gulch to future studies on the DeLamar Project,” stated George
Salamis, Integra’s President and CEO. “Sullivan Gulch remains open
at depth and along strike to the south. The potential inclusion of
additional mineralized material from Sullivan Gulch, subject to
further optimization work, has the potential to increase future
production profiles and mine life. Today’s drill results, along
with drill results released in 2018 and 2019 from Sullivan Gulch,
continue to showcase consistent runs of more than 100 m grading
over 1 g/t AuEq.”
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 |
IDM-21-200 |
171.30 |
197.05 |
25.75 |
0.13 |
86.72 |
1.25 |
including |
172.82 |
174.65 |
1.83 |
0.17 |
755.00 |
9.89 |
including |
195.68 |
197.05 |
1.37 |
0.22 |
231.00 |
3.20 |
IDM-21-200 |
246.89 |
251.92 |
5.03 |
0.12 |
116.89 |
1.62 |
IDM-21-201 |
170.38 |
330.71 |
160.33 |
0.66 |
65.92 |
1.51 |
including |
197.82 |
199.34 |
1.52 |
1.32 |
286.00 |
5.00 |
including |
220.68 |
223.72 |
3.04 |
2.20 |
217.00 |
4.99 |
including |
278.13 |
280.11 |
1.98 |
0.55 |
342.00 |
4.95 |
including |
318.21 |
319.74 |
1.53 |
5.11 |
63.25 |
5.92 |
IDM-21-202 |
103.02 |
227.08 |
124.06 |
0.55 |
34.51 |
1.00 |
including |
146.30 |
147.83 |
1.53 |
1.59 |
466.00 |
7.59 |
including |
224.03 |
225.55 |
1.52 |
0.29 |
444.00 |
6.01 |
IDM-21-203 |
0.00 |
5.19 |
5.19 |
12.04 |
63.02 |
12.85 |
IDM-21-203 |
208.79 |
324.31 |
115.52 |
0.66 |
65.51 |
1.50 |
including |
213.36 |
214.88 |
1.52 |
0.27 |
606.00 |
8.07 |
including |
233.17 |
234.70 |
1.53 |
1.74 |
606.00 |
9.54 |
including |
247.50 |
252.07 |
4.57 |
4.55 |
339.87 |
8.93 |
including |
272.80 |
274.32 |
1.52 |
6.65 |
11.38 |
6.80 |
|
(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 uncapped |
To view a cross section of Sullivan Gulch, click
on the link
below: https://www.integraresources.com/site/assets/files/2572/sg_xn_investor_vfinal.pdf
To view a drill plan map of Sullivan Gulch,
click on the link
below:https://www.integraresources.com/site/assets/files/2572/drill_collar_location_-_dm_-_full_extent_vfinal.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. Induced polarization (“IP”) indicates the potential for
mineralization to extend a further 900 m to the south.
Current Drill Status
The Company currently has 2 drill rigs in
operation at the DeLamar Project. One drill rig continues to test
the high-grade vein system below Florida Mountain. The second drill
rig is located at War Eagle Mountain, drilling into the basement
granite for the first time.
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,
and Timothy D. Arnold (PE, SME), Integra’s Chief Operating Officer,
both of Reno, Nevada. Each is 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 delivery of a Pre-feasibility Study in Q4 2021.
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
CONTACT INFORMATION Corporate Inquiries: ir@integraresources.com
Company 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 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.
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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