Integra Announces 11,000 M Drill Program ON 60 Million Tonnes of Low-Grade GOLD- Silver Mineralized Stockpiles from Previous Operators, Potential to Increase MINE Life and Expand Production
1050 – 400 Burrard Street
Vancouver, British Columbia, Canada
V6C 3A6
Email: [email protected]
FOR IMMEDIATE RELEASE TSXV: ITR; NYSE American: ITRG
September 12, 2022 www.integraresources.com
INTEGRA ANNOUNCES 11,000 M DRILL PROGRAM ON 60 MILLION TONNES OF LOW-GRADE GOLD-
SILVER MINERALIZED STOCKPILES FROM PREVIOUS OPERATORS, POTENTIAL TO INCREASE MINE LIFE
AND EXPAND PRODUCTION
• Integra’s exploration team has identified approximately 60 million tonnes (“Mt”) of low-grade
gold-silver mineralized material that was stockpiled and /or used as backfill by previous mine
operators at DeLamar from the 1970s to the late 1990s.
• Based on historic mining, milling and drill data, Integra is confident that the bulk of this material
is oxidized or partially oxidized and that the grade of most of this material should be sufficient to
warrant processing as part of the heap leach operation.
• Previous operators at the DeLamar Project processed material thro ugh a mill with an average
grade of 1.2 g/t gold (“Au”) and 75 g/t silver (“Ag”) (2.2 g/t gold equivalent (“AuEq)), with an
estimated average mill cut-off grade of 0.80 g/t AuEq to 0.90 g/t AuEq.
• In the DeLamar Pre -feasibility Study (“PFS”) , t he average grade of the heap leach gold-silver
material was 0.61 g/t AuEq, using a cut-off of 0.2 g/t AuEq, suggesting a significant amount of the
60 Mt of stockpiled material could be amenable to heap leaching with an average grade range of
0.3 to 0.6 g/t AuEq.
• Core and reverse circulation (“RC”) drilling through the stockpile and back fill material by Integra
and previous mine operators, while not being as reliable as the planned dual rotary and sonic drill
program about to commence, does add strong support to the assumption that this material is
likely to be of sufficient grade to include in the heap leach operation:
o IDM-22-206: 0.28 g/t Au and 50.98 g/t Ag (0.93 g/t AuEq over 102.41 meters (“m”)
▪ Including 0.10 g/t Au and 833.0 g/t Ag (10.82 g/t AuEq) over 2.90 m
o IDM-22-211: 0.42 g/t Au and 82.20 g/t Ag (1.48 g/t AuEq) over 59.74 m
o IDM-18-042C: 0.49 g/t Au and 17.74 g/t Ag (0.72 g/t AuEq) over 34.14 m
▪ Including 3.62 g/t Au and 66.90 g/t Ag (4.48 g/t AuEq) over 2.13 m
• Integra will commence a 11,000 m drill program on these at surface, low -grade stockpiles at
DeLamar and Florida Mountain in mid -to-late-September. T he stockpiles average 36 m in
thickness with a maximum thickness of 126 m. Drill holes will be drilled through the entirety of
the stockpiles.
• Integra aims to complete drilling, sampling, and metallurgical testing on this stockpiled material,
aiming at a resource estimate update and incorporation of this material into a Mine Plan of
Operations (“MPO”) plan in 2023.
Vancouver, British Columbia – Integra Resources Corp. (“Integra” or the “Company”) (TSX-V: ITR; NYSE
American: ITRG) is pleased to announce the commencement of drilling on an estimated 60 Mt of low-
grade, stockpiled gold-silver mineralized material at the DeL amar and Florida Mountain deposits. This
material was stockpiled at surface by previous operators and has the potenti al, pending further drilling,
to significantly increase the heap leach mine life and production rates at the Project. This drill program is
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designed to estimate grade and grade variability within the stockpiles as wel l as to obtain material for
metallurgical testwork to further understand the potential inclusion of this material in future mine plans
and heap leach processing . The total drill program will include 11,000 m of shallow, dual rotary reverse
circulation drilling and sonic drilling.
“We are excited to commence drilling on the stockpiled material at De Lamar and Florida Mountain as it
has the potential to significantly increase the mine life and economics of the proposed future heap leach
project at De Lamar. If even a portion of this material meets expectations in regards to grade and
recoverability, it has the potential to meaningfully enhanc e the project. Our studies indicate that a
substantial amount of material stockpiled and/or used as backfill, estimated to be as much as 60 Mt,
resides in a potential grade range of 0.3 g/t to 0.6 g/t AuEq and could provide a large source of low-cost,
low-strip Oxide and Mixed material that could be included in future he ap leach mine plans. Based on
historic mining records from the 1970s to 1990s, the Company expects the gold-silver grades in these
stockpiles to be well above the heap leach cut-off grade used in the 2022 PFS, ” stated George Salamis,
President and CEO of Integra Resources. “The Company has initiated a fully-financed, 11,000 m dual rotary
RC and sonic drill program designed to test these stockpiles with fences of shallow drill holes. The drilling
is expected to take approximately 3 months and will be conducted in various locations where 60 Mt of
stockpiled and backfilled materia l is l ocated. The opportunity here is very clear: In the PFS, the cost of
moving much of these stockpiles to access mineralized material below was included in the pre-stripping
costs. As such, subject to success in terms of grade definition and potential Oxide and Mixed recoverability
in these stockpiles, the Company plans to turn this material from a cost into a significant benefit to the
Project through increased life of mine and value accretion.”
The Proof of Concept: Evidence of Grade in Stockpiles and Backfill:
The Company has drilled through backfill and low -grade stockpiles on a number of occasions through
normal course drilling on the Project since 2018. This drilling, in addition to historic drilling from previous
operators, provides a strong case to substantiate the potential mineralization in these stockpiles and
backfill.
Below are select drill highlights that encountered Oxide and Mixed mineralization in stockpiles and/or
backfill:
Integra Resources Drill Results1,2,3
Drill Hole From
(m)
To
(m)
Interval
(m) g/t Au g/t Ag g/t AuEq Location
FME-20-086 10.67 47.40 36.73 0.37 16.47 0.58 Florida Mtn
IFM-18-003 0.00 57.30 57.30 0.35 9.89 0.48 Florida Mtn
IDM-22-206 0.00 102.41 102.41 0.28 50.98 0.93 DeLamar
including 35.51 38.41 2.90 0.10 833.00 10.82 DeLamar
IDM-18-026 1.52 128.02 126.50 0.22 20.16 0.48 DeLamar
IDM-18-022 0.00 35.05 35.05 0.36 12.67 0.52 DeLamar
IDM-18-042C 0.00 34.14 34.14 0.49 17.74 0.72 DeLamar
Including 18.90 21.03 2.13 3.62 66.90 4.48 DeLamar
IDM-22-211 0.00 59.74 59.74 0.42 82.20 1.48 DeLamar
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Historic Drill Results22,4,5
R251 0.00 15.24 15.24 0.78 20.50 1.05 DeLamar
F0935 10.67 44.20 33.53 0.50 16.63 0.71 Florida Mtn
SP45 0.00 33.53 33.53 0.40 28.62 0.77 Stockpile 1
Including 24.38 27.43 3.05 1.03 82.05 2.09 Stockpile 1
SP55 0.00 21.34 21.34 0.43 45.06 1.01 Stockpile 1
SP48 0.00 30.48 30.48 0.29 15.05 0.48 Stockpile 1
(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
(4) Historical drill results from previous operators that are provided for context.
(5) Historical drill holes are true thickness
Execution of Drill Program: Methodology and Timeline
The stockpile drilling program will be executed at 60 m collar spacing with select 30 m infill test holes. All
drilling will be vertical through the entirety of the stockpiles. This drilling will be co nducted by a
combination of dual rotary RC and sonic drilling methods. Both these drilling methods will serve to
maintain high sample quality through the drilling process. Additionally, the two sampling methods will
provide a basis for comparison for continuity. Sampling will be conducted at 1.5 m intervals for the whole
of the drilling with all samples sent to a third -party lab for analysis. These drilling methods provide the
opportunity for various metallurgical tests, as well. Bottle rolls will be collec ted on crushed material and
column testing is planned for select material obtained with the sonic drill. Once begun the drilling will take
approximately three months to complete at 60 m spacings.
To view the stockpiles and backfill at DeLamar, click on the following link:
https://integraresources.com/site/assets/files/2572/lg_stockpiles_del_sm.pdf
To view the stockpiles and backfill at Florida Mountain, click on the following link:
https://integraresources.com/site/assets/files/2572/lg_stockpiles_fm_sm.pdf
Description of the PFS Mine Plan and Heap Leach Focus
The Company’s 2022 PFS study demonstrated a robust, economic project with significant optionality and
upside potential. T he Company has commenced permitting and plans to commence development and
operation of the project with a low -cost, high-margin 35,000 tonne per day (“mtpd”) heap leach facility.
The simple, low-cost, low-risk strategy to focus on the financial engine of the project, the heap leach, does
not negate the strong optionality of the project in multiple areas. Based on internal models generated by
the Company, adding Oxide and Mixed material to the heap leach significantly increases the mine life and
is very accretive to the Project’s value, at a very low-cost.
Advancing the DeLamar gold-silver project towards permitting and development of the heap leach stage
as a stand -alone mining operation, is a far lower cost, lower risk option for the Company and its
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shareholders, creating strong economic returns and rapid payback. In these inflationary times, with
increased scrutiny on permitting of all resource projects, this is the optimal strategy for the Company and
its shareholders, as it vastly reduces execution risk. Adding stockpiled and backfill material residing at
surface, with little or no stripping required, subject to successful delineation and inclusion in future mine
plans, has phenomenal value-add potential at a very low-cost.
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 al l 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 of Post Falls, Idaho, 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 Comp any has demonstrated significant resource growth and
conversion while providing robust economic stud ies in its maiden preliminary economic assessment and
now pre-feasibility study. An independent technical report for the PFS on 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.sedar.com and on the Company’s website at www.integraresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
George Salamis
President, CEO and Director
CONTACT INFORMATION
Corporate Inquiries: [email protected]
Company website: www.integraresources.com
Office phone: 1 (604) 416-0576
Forward looking and other cautionary statements
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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”, “e stimates”, “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 achie ved) 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 ce rtain 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; risk s 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 c over
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 cont ained 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.
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Cautionary Note for U.S. Investors Concerning Mineral Resources and Reserves
National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("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 press
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 Exc hange 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.