Press Release Highlights:
- Drilling continues to intersect mineralization beyond the footprint of the DeLamar Deposit to the southeast (“SE”) of previously reported results, almost no drilling has taken place beyond the drill intercepts announced today highlighting the continued potential for resource expansion
- Significant drill results from the Sullivan Gulch Zone within the DeLamar Deposit include two holes spaced 150 metres (“m”) apart, grading 2.16 g/t gold equivalent (“AuEq”) over 220.98 m (IDM-18-014), and 1.74 g/t AuEq over 198.12 m (IDM-18-011)
- The two drill holes are located 150 m from one another, are on section approximately 100 m from the most recently released holes (see news release dated May 10th, 2018) and both holes were terminated in mineralization
- Approximately 64% and 59% of the two drill intersections referenced above occurred outside of the existing inferred resource envelope boundary, clearly showing the potential for resource expansion
- Several select sections of this zone contain significant high-grade gold-silver intercepts, including: 4.14 g/t AuEq over 73.15 m, 8.95 g/t AuEq over 10.67 m , 7.49 g/t AuEq over 12.19 m, and 26.73 g/t AuEq over 1.52 m
- This area in SE Sullivan Gulch was never mined by previous operators
- Three drill rigs are currently active on the DeLamar Project, including one drill rig drilling the Florida Mountain Deposit, situated 8 km to the east of the DeLamar Deposit
VANCOUVER, British Columbia, June 25, 2018 (GLOBE NEWSWIRE) — Integra Resources Corp. (TSX-V:ITR) (OTCQX:IRRZF) (the “Company” or “Integra”) is pleased to announce initial assay results from a further 3 drill holes completed in its 2018 drill program on the DeLamar Gold and Silver Project (“DeLamar, or the “Project”), located in the historic Owyhee County mining district in south western Idaho, U.S.A. This second round of drill results released today continues to demonstrate continuity of mineralization within the DeLamar Deposit, with large zones of lower-grade gold-silver and selected higher-grade intercepts intersected. Today’s results are from 1,060 m of drilling of the roughly 20,000 m exploration program currently underway in 2018.
“We are very excited by the strong potential for resource expansion at DeLamar, as evidenced by today’s extensional drilling results. Our technical team is seeing excellent continuity on the southeastern extension of the DeLamar Deposit, in the Sullivan Gulch Zone. This was showcased today by both very large lower-grade gold-silver intercepts, and by selected higher-grade gold-silver intercepts over 10 m in width” stated George Salamis, President and CEO of Integra Resources. “This is the first systematic drilling ever undertaken in the Sullivan Gulch zone on the southeastern end of the DeLamar Deposit trend. The positive results highlighted in today’s news release, stepping out 100 m south east of the previous intercepts reported earlier last month, are hosted in an area where there has been very little past drilling and no past mining. Based on the findings of these last two sets of drill results, gold-silver mineralization at DeLamar appears to remain open in multiple directions.”
DeLamar Drill Results Summary
The following table highlights selected intercepts from this set of drill results. Individual composites are disclosed as uncapped.
Past drilling by Kinross was conducted to an average depth of 100 m in the Sullivan Gulch area of the Deposit, whereas current drilling is testing in excess of 250 m vertical with results thus far demonstrating excellent mineralization continuity.
|g/t Au||g/t Ag||g/t AuEq(2)||Interval
|Or combined as||198.12||271.27||2.34||152.74||4.14||73.15|
(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 85% conversion ratio)
(2) Gold equivalent = g Au/t + (g Ag/t ÷ 85)
To view a cross section of the DeLamar Deposit relevant to today’s results, please click on the following link:
To view a plan map of the current drill program, please click on the following link:
DeLamar Exploration Ongoing
Within the large lower-grade intercepts released today, the sections hosting more intense veining, brecciation and silica alteration result in higher-grade intervals, as shown in the table above (ie. 4.14 g/t AuEq over 73.15 m, 8.96 g/t AuEq over 10.67 m, and 7.49 g/t AuEq over 12.19 m). These drill results represent the thickest and, selectively, the highest-grade gold-silver intercepts drilled to date at DeLamar by Integra. Further drilling will be required to determine if the higher-grade sections reported today relate to past high-grade gold-silver mined underground in the 1880’s.
Today’s drill results include thick zones of gold-silver mineralization hosted in Miocene-age altered felsic volcanic units (porphyritc rhyolite and quartz latite). Sitting stratigraphically above these units, the upper banded rhyolite unit appears to have behaved as a “trap rock” barrier (aquitard) for mineralizing fluids circulating within the epithermal system at DeLamar.
The latest fence of holes (IDM-18-011, 012 and 014) on the southeast extension of the DeLamar trend (the Sullivan Gulch Zone) continue to highlight a zone of variably oxidized, intense gold-silver mineralization averaging 100-200 m thick and dipping steeply to the southwest. In this area of Sullivan Gulch, the zone remains entirely open to the southeast and in the down dip direction. As was the case with drill hole IDM-18-007 reported last month, two of the drill holes reported today were terminated in mineralized rock grading more than 1 g/t AuEq. The holes in question that terminated in +1 g/t AuEq material were both drilled using a reverse circulation (“RC”) drill rig and were unable to be drilled deeper beyond the bottom of economic mineralization, indicating that the mineralized zone could in fact be thicker than reported. As previously stated, the porphyritc rhyolite and upper quartz latite units appear to be the favored hosts to gold-silver mineralization.
Since the start of the 2018 campaign, the Company has drilled roughly 8,900 m in 33 drill holes, with assays pending from a further 21 drill holes beyond what was released today.
This year’s $10 million exploration program includes an estimated 20,000 m of RC and diamond drilling. The proposed drill meterage will be divided roughly equally between the DeLamar and Florida Mountain Deposits. As highlighted in the news release dated June 14, 2018, drilling has commenced at Florida Mountain, and will continue throughout the summer months into Q3 of this year.
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 rerun 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 over 100 g/t silver.
The scientific and technical information contained in this news release has been reviewed and approved by Gary Edmondo of Reno, Nevada, who serves as Integra’s Chief Geologist, and is a “qualified person” within the meaning of National Instrument 43- 101 – Standards of Disclosure for Mineral Projects.
About Integra Resources
Integra Resources Corp. is a development-stage company engaged in the acquisition, exploration and development of mineral properties in the Americas. The primary focus of the Company is the advancement of its DeLamar Project, consisting of the neighbouring DeLamar and Florida Mountain Gold and Silver Deposits in the heart of the historic Owyhee County mining district in south western Idaho. The first exploration program in over 25 years is currently underway on the DeLamar Project with more than 20,000 metres planned for 2018. The management team comprises the former executive team from Integra Gold Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
President, CEO, and Director
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 discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to 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; the length of the current market cycle and requirements for an issuer to survive in the current market cycle; future growth potential of Integra; and future development plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of Integra at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Integra to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: 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 formations 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 as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Integra assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.