VANCOUVER, British Columbia, Sept. 24, 2018 (GLOBE
NEWSWIRE) --
Press Release Highlights:
- Initial drill results from Florida Mountain indicative
of the high-grade nature of the gold (“Au”)-silver (“Ag”) deposit
with intercepts of:
- IFM18_012, 13.94 grams per tonne (“g/t”) gold
equivalent (“AuEq”) over 3.05 meters (“m”) encountered in the
Alpine Vein
- IFM18_026A, 10.57 g/t AuEq over 2.74 m
- Wider, lower grade disseminated gold-silver
mineralization also encountered in drilling, supporting the current
inferred resource:
- IFM18_001, 1.16 g/t AuEq over 19.96
m
- IFM18_001A, 1.45 g/t AuEq over 17.38
m
- IFM18_002, 0.66 g/t AuEq over 24.98 m
- IFM18_010, 0.86 g/t AuEq over 51.81 m and 0.56 g/t AuEq
over 61.27 m
- IFM18_012, 3.20 g/t AuEq over 19.51 m
- IFM18_025, 1.44 g/t AuEq over 32.00 m
- IFM18_026A, 4.17 g/t AuEq over 11.43 m, and 0.79 g/t
AuEq over 22.86 m
- Further exploration work for the remainder of the year
to include metallurgical sampling and detailed compilation work of
historic underground data in preparation for the 2019 drill
campaign
Integra Resources Corp. (TSXV:ITR ;
OTCQX:IRRZF) (the “Company” or “Integra”) is pleased to
announce the initial results from Integra’s 100% owned Florida
Mountain Gold-Silver Deposit (“Florida Mountain”), located 5
kilometers (“km”) east of Integra’s DeLamar Deposit in southwestern
Idaho. A total of 2,400 meters (“m”) has been completed in 9 holes
at Florida Mountain, designed to test both the low-grade
disseminated mineralization and select high-grade veins on the
Deposit.
George Salamis, President and CEO of Integra
Resources, stated, “Florida Mountain has a proud history of
high-grade mining, historically averaging 30 g/t AuEq during the
late 1800s and earlv 1900s, and a more recent history of low-grade,
open pit mining from the 1970s to the 1990s. At the outset of the
Florida Mountain acquisition earlier this year, Integra recognized
the potential for growing both the high-grade and low-grade
resource at the deposit. Drill hole and exploration data that
accompanied the transaction was used by MDA of Reno, Nevada, to
compile a maiden inferred resource totalling 675,000 ozs of Au and
16.6 M ozs Ag, or 871,000 oz AuEq at a grade of 0.74 g/t AuEq using
a 0.3 g/t AuEq cut-off. This inferred resource estimate provides a
great base to further explore and grow a resource that has always
worked in tandem with DeLamar.
Mr. Salamis continued, “What attracted us to the
Deposit was the narrow-vein high-grade gold-silver potential of the
Deposit, in addition to the wide, lower-grade gold-silver potential
hosted in the same rock types as encountered at DeLamar, situated
to the west. Given the high-grade nature of gold-silver underground
mining conducted in the late 1880’s and the low-grade, open pit
mining conducted by Kinross in the 1990’s, our mission was to
attempt to intercept both styles of mineralization in this first
limited drill campaign. The results released today have succeeded
in confirming the presence of both high-grade and low-grade
mineralization at Florida Mountain. All of the high
grade-intercepts reported today reside within 30 m of surface.
Though this summer’s drilling encountered technical issues after
intersecting several underground stopes dating back to the 1880’s,
we are highly encouraged by the high grades and wider lower-grade
intervals reported today. Given that past drilling conducted
on the project by previous operators rarely exceeded 130 m vertical
depth, we look forward to further demonstrating mineralization
continuity and expansion potential in upcoming drill programs as we
continue to explore beyond the margins of the historic Florida
Mountain open pit.”
Forida Mountain - Drill Results
Summary
The following table highlights selected
intercepts from this set of Florida Mountain drill results.
Drill Hole Number |
From (m) |
To
(m) |
Interval
(m) (1) |
g/t Au |
g/t Ag |
g/t AuEq(2) |
IFM18_001 |
0.00 |
19.96 |
19.96 |
0.86 |
25.31 |
1.16 |
IFM18_001A |
39.01 |
56.39 |
17.38 |
0.55 |
75.92 |
1.45 |
IFM18_001A |
75.59 |
87.48 |
11.89 |
0.84 |
2.91 |
0.88 |
IFM18_002 |
70.73 |
95.71 |
24.98 |
0.57 |
7.77 |
0.66 |
IFM18_003 |
43.59 |
71.17 |
27.58 |
0.64 |
15.62 |
0.82 |
IFM18_003 |
121.31 |
160.93 |
39.62 |
0.53 |
6.93 |
0.61 |
IFM18_010 |
17.68 |
69.49 |
51.81 |
0.68 |
15.80 |
0.86 |
IFM18_010 |
108.20 |
169.47 |
61.27 |
0.51 |
3.96 |
0.56 |
IFM18_010 |
182.42 |
185.01 |
2.59 |
4.84 |
46.89 |
5.39 |
IFM18_011 |
3.96 |
14.63 |
10.67 |
0.40 |
16.29 |
1.28 |
IFM18_011 |
54.25 |
72.54 |
18.29 |
0.52 |
18.67 |
0.74 |
IFM18_012 |
13.41 |
32.92 |
19.51 |
1.21 |
173.53 |
3.20 |
Incl |
23.77 |
26.82 |
3.05 |
4.3 |
819.19 |
13.94 |
IFM18_025 |
10.06 |
42.06 |
32.00 |
0.77 |
56.32 |
1.44 |
IFM18_026A |
14.48 |
25.91 |
11.43 |
2.64 |
130.01 |
4.17 |
Incl |
18.90 |
21.64 |
2.74 |
6.79 |
321.71 |
10.57 |
IFM18_026A |
89.00 |
111.86 |
22.86 |
0.35 |
37.68 |
0.79 |
- 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 80% conversion ratio)
- Gold equivalent = g Au/t + (g Ag/t ÷ 85)
To view a cross section of the Florida Mountain
deposit please click on the following link:
https://www.integraresources.com/site/assets/files/2572/florida_mountain_cross_section_-_vmax3use.pdf
To view a plan map of the current drill
program, please click on the following link:
https://www.integraresources.com/site/assets/files/2572/florida_mountain_plotter_vuse-1.pdf
Florida Mountain Deposit
Geology
As a well-known low-sulphidation gold-silver
epithermal system, the geology of the Florida Mountain Deposit is
generally similar to that of the DeLamar Deposit with the important
exception that the Late Cretaceous Idaho granite crops out on the
flanks of Florida Mountain, and was extensively entered by workings
of the historic underground mines. Discrete low-sulphidation
epithermal related fissure veins and more widely disseminated
mineralized zones are both present at Florida Mountain, and have
contributed to past gold and silver production. Florida Mountain
exhibits significant exploration upside, remaining open at depth
and on strike.
The high-grade mineralization reported in
today’s news release is hosted in a discrete vein zone,
historically named the Alpine Vein, measuring 2 m to 3m in true
thickness on average. The vein shows classic low-sulphidation
epithermal textures and related wall-rock alteration features.
In more recent history, the gold and silver
mineralized material from Florida Mountain was processed during the
1990’s at the neighboring DeLamar Mill, with material being
transported by truck along a haulage road that Integra currently
uses to access the project. Historical mill records show mill
recoveries of 95% gold and 75% or better silver, in addition to
column leach test studies demonstrating gold recoveries as
high as 85% and silver as high as 54%, are indicative of the
excellent metallurgical nature of the deposit The existing Florida
Mountain metallurgical data demonstrates the potential of both
conventional milling and heap leach options for any future
development, subject to further studies and assessment that are
currently underway.
In February 2018, the Company reported a maiden
Florida Mountain Deposit inferred mineral resource employing a 0.3
g/t AuEq cut-off, outlining 36,605,000 tonnes grading 0.57 g/t Au
and 14.12 g/t Ag, for a total of 675,000 ozs of Au and 16.6 M ozs
Ag, or 871,000 oz AuEq at a grade of 0.74 g/t AuEq.
To view a copy of the full NI43-101 Technical
Report outlining the current inferred resource estimate at the
DeLamar Project, please click the following link:
https://www.integraresources.com/site/assets/files/2403/ni43-101_delamar_floridamtn_2018.pdf
Florida Exploration Ongoing
Though the company has completed its budgeted
drilling for the year at Florida Mountain, further exploration work
is planned for the remainder of this year included metallurgical
testwork, detailed logging, and incorporation of the historic
underground data going back to the 1890’s into the geological
model.
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 PhD. (FAusIMM), Integra’s Vice President Exploration, of
Reno, Nevada, and is a “Qualified Person” (“QP”) as defined in
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 advancement of it’s 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
meters planned for 2018. The management team comprises the former
executive team from Integra Gold Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
George Salamis
President, CEO, and Director
CONTACT INFORMATION
Corporate Inquiries: Chris Gordon,
chris@integraresources.com
Company website: www.integraresources.com
Office phone: 1 (604) 416-0576
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