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Integra Intersects High Grade Gold-Silver at Florida Mountain, Continues Exploration Success at Lucky Days, Adds Two Additional Drill Rigs

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  • Florida Mountain drill highlights released today include:
    • Drill hole FME-21-106
      • 12.90 grams per tonne gold and 1,675.00 g/t silver (34.46 g/t gold equivalent) over 1.52 meters
      • 15.17 g/t Au and 250.00 g/t Ag (18.39 g/t AuEq) over 0.92 m
    • Drill hole FME-21-107
      • 16.86 g/t Au and 2472.00 g/t Ag (48.67 g/t AuEq) over 1.25 m
    • Drill hole FME-21-104
      • 0.49 g/t Au and 125.72 g/t Ag (2.10 g/t AuEq) over 16.92 m
  • Drill highlights from the Lucky Days Target include:
    • Drill hole LDE-21-002
      • 0.50 g/t Au and 41.15 g/t Ag (1.03 g/t AuEq) over 25.15 m, including 2.13 g/t Au and 213.28 g/t Ag (4.87 g/t AuEq) over 2.13 m
    • This drill hole, located on the southern end of a 1 kilometer long zone of anomalous soil and rock-chip geochemistry associated with old workings, suggests the potential for a large bulk-tonnage target at Lucky Days, alongside the newly discovered bulk-tonnage gold-silver target at Georgianna located 2 km to the west
  • Two additional drill rigs are being added to the DeLamar Project, for a total of 4 drill rigs, to increase follow-up drilling on recent success at Florida Mountain and BlackSheep, expanding the effort to test for gold-silver mineralization expansion in multiple areas.
  • The NI 43-101 Resource Estimate Update is currently expected in late Q2 2021, on track with guidance.
  • The Pre-feasibility Study is scheduled for completion in Q4 2021. Extensive metallurgical testwork is underway on the oxide and transitional material at Florida Mountain as well as grind optimization and flotation testwork on the unoxidized composites.
  • A video summary of today’s news release is available by clicking the following link:

 

 

Integra Resources Corp. (TSX-V:ITR) (NYSE American: ITRG) is pleased to announce multiple gold-silver drill results from the DeLamar Project, situated in southwestern Idaho. The drill holes announced today at Florida Mountain continue to demonstrate high-grade gold-silver mineralization continuity, in some cases 300 m outside of the resource model. In addition, the Company is pleased to announce a large, low-grade gold-silver intercept from the recently discovered Lucky Days Target situated in the BlackSheep District. The BlackSheep District, acquired in 2019, is a 30 square kilometer land package located immediately north-northwest of the DeLamar Deposit. As a result of recent exploration success in these two areas, the Company will add two additional drill rigs to the 2021 exploration program, which will bring the total drill count at the Project to four drill rigs by the end of April.

 

“In light of both continued success at Florida Mountain and the new gold-silver discoveries at BlackSheep, the Company has decided to accelerate exploration efforts by increasing the number of drill rigs on the project from two-to-four,” noted George Salamis, Integra Resources’ President and CEO. “At Florida Mountain it is becoming clear that a more meaningful drill program is warranted to advance the exploration of high-grade gold-silver potential below the existing low-grade pit-constrained resource. At BlackSheep, both the recent discovery of gold-silver mineralization at the Georgianna and Lucky Days Targets along with the sheer size of the untested, several-square-kilometer geophysical and soil geochemical anomalies present, indicate the necessity for additional drill rigs to accelerate further testing of the area. Drill success at multiple targets on the DeLamar Project over the past three years supports the Company’s view that current exploration is merely beginning to scratch the surface of upside potential, beyond the existing gold-silver resource already identified at the DeLamar and Florida Mountain Deposits. The vast potential for expansion at DeLamar in multiple areas and targets strongly merits an increase in drill rigs on the Project and a larger exploration program.”

 

To view a video summary of today’s news release, please click the following link:

 

https://www.youtube.com/watch?v=dZpTLDmKcc0

 

Florida Mountain Drill Results

 

The following table highlights select intercepts from the Florida Mountain drill holes announced today.

 

 

Drill Hole From (m) To (m) Interval (m) (1) g/t Au(3) g/t Ag(3) g/t AuEq(2)
FME-20-097
including
138.53
139.36
140.51
139.60
1.98
0.24
2.76
18.76
474.82
3543.00
8.87
64.35
FME-20-099 142.34 143.87 1.53 2.09 3.87 2.14
FME-20-099 265.79 267.31 1.52 2.50 11.65 2.65
FME-20-099
including
306.93
306.93
311.20
308.46
4.27
1.53
0.43
0.98
133.87
294.00
2.16
4.76
FME-20-100
including
170.69
170.69
179.22
172.21
8.53
1.52
1.80
4.97
12.51
10.69
1.96
5.11
FME-20-101 159.41 160.93 1.52 4.53 1.16 4.54
FME-20-102
including
including
157.89
157.89
168.55
170.08
159.41
170.08
12.19
1.52
1.53
0.39
0.72
1.78
24.85
110.00
39.12
0.71
2.14
2.28
FME-21-103 211.23 212.75 1.52 5.13 48.85 5.75
FME-21-103 272.40 273.71 1.31 2.43 240.00 5.52
FME-21-104
including
38.71
40.23
55.63
44.81
16.92
4.58
0.49
1.21
125.72
332.67
2.10
5.49
FME-21-105
including
43.28
44.81
51.82
46.03
8.54
1.22
0.51
2.79
83.75
97.36
1.58
4.04
FME-21-105 192.63 194.77 2.14 1.94 890.12 13.40
FME-21-105 216.71 217.32 0.61 1.89 723.00 11.20
FME-21-106 108.81 109.73 0.92 15.17 250.00 18.39
FME-21-106 221.59 223.11 1.52 12.90 1675.00 34.46
FME-21-107 122.83 124.08 1.25 16.86 2472.00 48.67

 

  (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 plan map of the drill results announced today, click on the link below:

 

https://www.integraresources.com/site/assets/files/2572/florida_mountain_plan_april.pdf

 

To view a cross section of a selection of the drill results announced today, click on the link below:

 

https://www.integraresources.com/site/assets/files/2572/fm_xn_april.pdf

 

The intercepts reported today consist of mineralization with wide-spread low-grade gold-silver values, crosscut and underlain by narrower high-grade, steeply dipping low-sulphidation quartz-adularia veins. Widespread intercepts from both historic shallow oxide and transitional resource definition drilling and recent deeper drilling to vertical depths up to 400 m below surface (and 250 m below the base of the current resource) conducted by Integra over the previous two years has confirmed potentially mineable widths and grades for these high-grade structures.

 

Integra’s exploration team has modeled 7 high-grade vein structures that appear similar in size and orientation to the historically productive high-grade Trade Dollar – Black Jack vein system. Most historic underground production reportedly stemmed from the Trade Dollar – Black Jack vein, while the remaining 6 veins saw limited production up until mining operations ceased with the start of World War I. Geometrically, the veins occur in the form of plunging shoots over an altitude difference of approximately 300 m below the apex of Florida Mountain. Strike lengths of the individual shoots tend to be 100 m to 200 m long and with widths of between 1 m and 8 m.

 

Integra refined its understanding of the controls on high-grade vein mineralization at Florida Mountain in early 2020 and has been using this model to specifically target the higher-grade “shoots” within the several vein systems identified to date. These higher-grade shoots are interpreted as being localized at the intersections of the four principal North-Northwest vein structures with a series of north-east trending splays. The Florida Mountain plan views linked below show the interpreted distribution of the principal veins and splays and the development of high-grade shoots (shown in thicker red) localized at the intersections with splays and at the sites of dilatational jogs. The level depicted, which is relatively shallow and will fall within the planned open pit, was chosen because of the abundant historic drill data available to demonstrate continuity of grade over lengths of up to 200 m. Historic records indicate that the grade within these structures will be more coherent at greater depths within the granite. The deep intercepts on both the Stone Cabin / Tip Top and Alpine vein systems announced today are situated within some of these structurally controlled high-grade shoots.

 

Since 2018, Integra has drilled 35 drill holes at Florida Mountain that have specifically targeted high-grade shoots, in which 60 intervals with grades over 4.7 g/t AuEq and widths greater than 1.5 m have been encountered. The success of current high-grade drill targeting at Florida Mountain lends increased confidence to the exploration model and is a positive step towards the stated goal of defining a high-grade underground resource at Florida Mountain.

 

To view the interpreted vein structures at Florida Mountain at the 2,025 m level, click on the links below:

 

https://www.integraresources.com/site/assets/files/2572/fm_2025_m_level_dh_1-34.pdf

https://www.integraresources.com/site/assets/files/2572/fm_2025_m_level_dh_36-73.pdf

 

 

Drill Results for the Lucky Days Target within the BlackSheep District:

 

The following table highlights selected intercepts from the Lucky Days drill results announced today:

 

Drill Hole From (m) To (m) Interval (m) (1) g/t Au(3) g/t Ag(3) g/t AuEq(2)
LDE-21-002
including
11.58
26.82
36.73
28.95
25.15
2.13
0.50
2.13
41.15
213.28
1.03
4.87
LDE-21-002 63.40 64.92 1.52 0.20 68.73 1.08
LDE-21-002 135.03 142.65 7.62 0.61 36.21 1.07

 

  (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 60-70% conversion ratio)
  (2)   Gold equivalent = g Au/t + (g Ag/t ÷ 77.70)
  (3)   Intervals reported are uncapped

 

To view a plan map of the Lucky Days drill results announced today alongside IP chargeability, click on the link below:

 

https://www.integraresources.com/site/assets/files/2572/lucky_days_diagram.pdf

 

Drill hole LDE-21-002, released today, was designed to intercept a vein structure at a shallow depth (25-30 m), and the high silver intersected at this interval along with the shallow-level vein textures indicate the potential for high-grade mineralization at depth. In addition, this drill hole clipped the southern end of an extensive zone of lower grade stockwork vein mineralization delineated by soil and rock-chip geochemistry and IP geochemistry. The 25.15 m intercept averaging 1.03g/t AuEq at the southern end of this 250 m x 100 m stockwork zone is a very encouraging indication of low-grade open pit potential. A 2,500 m Reverse Circulation (“RC”) drill program is planned for early summer to further test the potential of this southern zone of stockwork vein mineralization at Lucky Days. A similar sized zone of stockwork vein mineralization is located approximately 1 km to the north at the northern extent of Lucky Days, and the area in-between these two areas corresponds with a high-chargeability zone associated with soil arsenic (“As”) and Au anomalies. Additional surface work is planned to delineate future drill targets in this central portion of Lucky Days.

 

BlackSheep: Geology, Structure and History

 

The BlackSheep District is cut by the large, north-northwest trending Milestone Fault. The Milestone Fault is host to a series of deep-seated mineralized controlling structures that have been mapped northwesterly from the DeLamar Deposit, through the Milestone Deposit and BlackSheep gold-silver occurrences. Geological evidence suggests that this structural zone controlled the formation of a volcanic graben, with normal faulting, that extends to the west of the fault. As the basin formed, it filled with permissive deposit host rocks, mainly rhyolites, latites, and volcanic sediments. The Milestone Fault localized the flow of metal-rich hot spring waters, which altered and leached the host rock, and deposited metals in these areas.

 

To view the BlackSheep District and the Milestone structural corridor in relation to the DeLamar Deposit, click on the link below:

 

https://www.integraresources.com/site/assets/files/2572/bs_topo_map_vuse.pdf

 

Further underscoring the potential of the region, the BlackSheep District is host to extensive gold-silver-arsenic soil geochemical anomalies analogous to the size and scope of gold-silver-arsenic anomalies present at the multi-million ounce DeLamar and Florida Mountain Deposits. The drill results announced today targeted a very small fraction of these geochemically anomalous areas, with large tracts of land at both Georgianna and Lucky Days still to be drilled. In addition, multiple targets with large geochemical anomalies within BlackSheep remain untested, including Twin Peaks, Statute Hills/Spain, Argentum and other highly gold-silver anomalous areas that remain untested by the Company.

 

To view the geochemical anomalies and targets within the BlackSheep District, click on the link below:

 

https://www.integraresources.com/site/assets/files/2572/bs_au_geochem_map_vuse.pdf

 

The geochemical anomalies within the BlackSheep District also coincide strongly with geophysics, including strong Induced Polarization (“IP”) chargeability at both Georgianna and Lucky Days. The chargeability anomalies as shown in the diagram below, bare striking resemblance to the IP signature at the DeLamar Deposit, host to 2,810,000 ounces AuEq (1,572,000 oz Au and 96,183,000 oz Ag) (119,621,000 tonnes grading 0.41 g/t Au and 25.1 g/t Ag) in the Measured and Indicated (“M&I”) and 401,000 oz AuEq (266,000 oz Au and 10,418,000 oz Ag) (21,291,000 tonnes grading 0.39 g/t Au and 15.2 g/t Ag) in the Inferred category. As is the case with the soil geochemical anomalies, only a small fraction of the IP chargeability anomaly has been tested to date by the exploration team. Several square kilometers of this these IP chargeability anomalies remain to be tested in future exploration work.

 

To view the IP chargeability signature of the DeLamar Deposit in relation to the BlackSheep District’s IP chargeability anomaly, click on the link below:

 

https://www.integraresources.com/site/assets/files/2572/bs_ip_map_vuse.pdf

 

The BlackSheep District has been host to historic mining dating to the late 1800’s and early 1900’s; however, due to the lack of accentuated topography in this area, and the relatively shallow level of erosion as compared to DeLamar and Florida Mountain, it is interpreted that these shallow historic workings did not go deep enough to intersect the level likely to be productive for high-grade mineralization. The vast land area is approximately 30 square kilometers and has seen very limited modern exploration. Integra’s drill campaign in the BlackSheep District represents the first concerted exploration program in this highly prospective area.

 

Current Drill Status and Future Exploration Drilling

 

The drill results announced today provide a significant basis for expanding the current exploration drill program from two drill rigs to four drill rigs by the end of April. Currently the Company has one drill rig positioned at Florida Mountain and one drill rig positioned at Henrietta Ridge, an area located on the far western edge of the DeLamar Deposit resource. The additional drill rigs will be positioned at Florida Mountain and in the BlackSheep District.

 

Pre-feasibility Study and Resource Estimate Update

 

The updated DeLamar Deposit and Florida Mountain Deposit NI 43-101 Resource Estimate is expected to be delivered in late Q2 2021. All modelling is well advanced. The PFS is on track for completion and delivery in Q4 2021. As part of the PFS, the Company has undertaken an extensive metallurgical program to ensure consistent recoveries on the heap-leach pads and milling scenario. Planned Florida Mountain oxide and transitional metallurgical testwork is nearing completion with the 19th and final composite in column leach testing. This final test is a master composite of transitional material at 1/4” crush designed to test for size sensitivity analysis. Unoxidized material from the Florida Mountain Deposit is also being further analysed for grind optimization and flotation work. Additional PFS related work is underway for the Q4 2021 report. For further details related to the current PFS and optimization / trade-off studies currently underway, please refer to the January 21, 2021 press release linked below:

 

https://integraresources.com/site/assets/files/2834/2021-jan-21_delamar_silver_and_plans_for_2021_vfinal.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 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” 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 completion of a Pre-feasibility Study in Q4 2021 designed to advance the DeLamar Project towards permitting and 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).”

 

Posted April 8, 2021

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