Integra Announces Additional Oxide Drill Results from Stockpile Drill Program at Delamar, Including 0.74 G/T AuEq over 53 M and 0.53 G/T AuEq over 120
1050 – 400 Burrard Street
Vancouver, British Columbia, Canada
V6C 3A6
Email: [email protected]
FOR IMMEDIATE RELEASE TSXV: ITR; NYSE American: ITRG
July 26, 2023 www.integraresources.com
INTEGRA ANNOUNCES ADDITIONAL OXIDE DRILL RESULTS FROM STOCKPILE DRILL PROGRAM AT
DELAMAR, INCLUDING 0.74 g/t AuEq over 53 M AND 0.53 g/t AuEq OVER 120 M
Vancouver, British Columbia – Integra Resources Corp. (“Integra” or the “Company”) (TSXV: ITR; NYSE
American: ITRG) is pleased to announce drill results from 21 additional drill holes , representing 1,180
meters (“m”), from the stockpile drill program at the DeLamar Project (“DeLamar” or the “Project”)
located in southwestern Idaho.
The stockpile drill program at DeLamar was designed to test a large portion of the estimated 60 million
tonnes (“Mt”) of mineralized material that was stockpiled and/or used as backfill at the Project . The
Company believes that additional oxide-and-mixed material from the stockpiles and backfill at DeLamar
has the potential to significantly increase the heap leach mine life of the Project in future phases and
further bolster the robust economics presented in the Company’s 2022 Pre-feasibility Study (“PFS”).
Drilling Highlights
• The latest drilling highlights from DeLamar (North DeLamar, Stockpile 1 and 2) include:
o NDM-23-046: 0.29 grams per tonne (“g/t”) gold (“Au”) and 18.72 g/t silver (“Ag”) (0. 53 g/t
gold equivalent (“AuEq”)) over 120.40 m
o NDM-23-018: 0.22 g/t Au and 17.46 g/t Ag (0.45 g/t AuEq) over 74.68 m
o NDM-22-164: 0.24 g/t Au and 18.86 g/t Ag (0.48 g/t AuEq) over 47.24 m
o NDM-23-022: 0.26 g/t Au and 14.20 g/t Ag (0.44 g/t AuEq) over 73.15 m
• The latest drilling highlights from Florida Mountain (Jacobs Gulch) include:
o JG-23-080: 0.60 g/t Au and 10.50 g/t Ag (0.74 g/t AuEq) over 53.34 m, including 8.91 g/t Au
and 6.55 g/t Ag (9.00 g/t AuEq) over 1.53 m
o JG-23-040: 0.32 g/t Au and 10.33 g/t Ag (0.46 g/t AuEq) over 32.00 m
o JG-23-146: 0.36 g/t Au and 6.76 g/t Ag (0.45 g/t AuEq) over 33.53 m
• The drill results announced today continue to demonstrate excellent gold equivalent grade and drill
intercept widths with strong continuity throughout the stockpile and backfill mineralized material.
• The Company has released 176 drill holes of the 321 drill holes completed during the 12,588 m
stockpile drill program which was completed in April 2023.
• Integra intends to release an updated mineral resource estimate for DeLamar in Q3 2023 which will
include the stockpile and backfill mineralized material. In Q4 2023, the Company plans on submitting
the Mine Plan of Operations at DeLamar , which represents a major de-risking milestone for the
Project.
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Integra’s President, CEO & Director, Jason Kosec commented: “The drill results announced today further
increase the Company’s confidence that the stockpile and backfill material has the potential to
significantly increase the heap leach mine life of the project in future phases. For the remainder of 2023,
the team remains focused on delivering two more significant milestones at DeLamar including the
updated mineral resource estimate in Q3 and the submission of the Mine Plan of Operations in Q4.”
Detailed Drill Results
The following table highlights selected intercepts from the DeLamar backfill and stockpile drill program
announced today1,2,3,4:
Drill Hole From
(m)
To
(m)
Interval
(m) g/t Au g/t Ag g/t AuEq AuCN
Recovery (%)
NDM-23-023 0.00 82.30 82.30 0.19 15.79 0.39 80.70
NDM-22-164 0.00 47.24 47.24 0.24 18.86 0.48 67.11
NDM-23-014 0.00 50.29 50.29 0.18 19.91 0.44 81.34
NDM-23-018 0.00 74.68 74.68 0.22 17.46 0.45 68.10
NDM-23-019 0.00 62.48 62.48 0.22 16.01 0.43 68.73
NDM-23-022 0.00 73.15 73.15 0.26 14.20 0.44 65.70
NDM-23-046 0.00 120.40 120.40 0.29 18.72 0.53 72.07
NDM-23-052 0.00 65.53 65.53 0.23 11.50 0.38 79.88
NDM-23-201 1.52 57.91 56.39 0.27 14.03 0.45 79.34
WD1-22-204 1.52 51.82 50.30 0.20 15.84 0.40 84.49
WD1-23-080 0.00 50.29 50.29 0.13 12.36 0.29 67.30
WD1-23-181 0.00 62.48 62.48 0.13 9.21 0.25 77.41
WD1-23-272 1.52 54.86 53.34 0.15 8.01 0.26 75.27
WD2-22-202 1.52 45.72 44.20 0.14 10.39 0.27 81.29
WD2-23-070 0.00 28.96 28.96 0.08 19.82 0.34 69.85
including 25.91 27.43 1.52 0.35 304.00 4.27 62.15
WD2-23-124 1.52 41.15 39.63 0.14 13.46 0.31 85.44
(1) Downhole thickness is true thickness.
(2) Intervals reported are uncapped.
(3) AuEq = g/t Au + (g/t Ag ÷ 77.70). Rounding may cause minor discrepancies in the AuEq column.
(4) Au recovery based on cyanide shakes (“AuCN”) run on all intervals with Au assay values >0.1 g/t.
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The following table highlights selected intercepts from the Florida Mountain backfill and stockpile drill
program announced today1,2,3:
Drill Hole From
(m)
To
(m)
Interval
(m) g/t Au g/t Ag g/t AuEq
JG-23-040 0.00 32.00 32.00 0.32 10.33 0.46
JG-23-049 0.00 36.58 36.58 0.30 9.10 0.42
JG-23-080 0.00 53.34 53.34 0.60 10.50 0.74
including 9.14 10.67 1.53 8.91 6.55 9.00
JG-23-083 0.00 45.72 45.72 0.19 12.18 0.35
JG-23-146 0.00 33.53 33.53 0.36 6.76 0.45
(1) Downhole thickness is true thickness.
(2) Intervals reported are uncapped.
(3) AuEq = g/t Au + (g/t Ag ÷ 77.70). Rounding may cause minor discrepancies in the AuEq column.
Follow the link below to view a cross section of the Jacobs Gulch stockpile:
https://integraresources.com/site/assets/files/2572/jg_cross_section_july_2023_vf.pdf
The Jacobs Gulch stockpile cross section illustrates strong grade continuity and consistent grades above
the heap leach cut -off grade, demonstrating the potential for this material to increase the heap leach
mine life in future phases. The Jacobs Gulch stockpile is estimated to contain approximately 8.9 Mt of the
approximate 60 Mt of mineralized material that was stockpiled and/or used as backfill by previous
operators. Drill spacing is completed at 60 m with some areas drilled at 30 m spacing to further confirm
continuity. The stockpile drilling, along with additional drilling that occurred after the last mineral resource
estimate cut-off date, will be included in an updated mineral resource estimate at the Project in Q3 2023.
Follow the links below to view a drill collar location map for the DeLamar stockpile/backfill drill program:
https://integraresources.com/site/assets/files/2572/dc_location_bf_nr_ndm_2023-07_sm.pdf
https://integraresources.com/site/assets/files/2572/dc_location_bf_sp_1-2_2023-07_sm.pdf
Follow the link below t o view a drill collar location map for the Florida Mountain stockpile/backfill drill
program:
https://integraresources.com/site/assets/files/2572/dc_map_bf_fm_-_2023-07_sm.pdf
Cyanide shake analysis is not performed on Florida Mountain samples as g old occurrences in Florida
Mountain material can often be coarse in nature, making comparisons between cyanide shake analyses
and fire assays unreliable. Once pulverized, as per any cyanide shake procedure, all Florida Mountain
material show high recoveries by cyanidation, rendering cyanide shake analysis unreliable for
differentiating between ores that can be heap leached and those requiring grinding to achieve high
recoveries.
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 analys is. Analysis of gold is performed using fire assay
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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.
Execution of Drill Program – Methodology
The stockpile drill program was executed at 60 m collar spacings with select 30 m infill test holes to further
verify grade variability in future resource estimation and to provide additional metallurgical samples. All
drilling was vertical through the entirety of the stockpiles and backfill material. The drilling was conducted
by a combination of Sonic and traditional reverse circulation (“RC”) with casing advance drilling methods.
Both these drilling methods maintain high samp le quality and integrity throughout the drilling process.
Additionally, the two drilling methods provided a basis for continuity comparison. Sampling was
conducted at 1.5 m intervals for the whole of the drilling program with all samples sent to a third -party
lab for analysis. The Sonic Drilling provided material suitable for ongoing comprehensive metallurgical test
work.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved
by Raphael Dutaut, Ph.D (P.Geo), Integra’s Vice President, Exploration and Tim Arnold (PE, SME), Integra’s
Chief Operating Officer. Both individuals are “Qualified Persons” (“QP”) as defined in National Instrument
43- 101 – Standards of Disclosure for Mineral Projects.
DeLamar Project Overview
The past producing DeLamar Project, which includes the adjacent DeLamar and Florida Mountain gold and
silver deposits, is located in Owyhee County in southwest Idaho. Since acquiring the Project in 2017, the
Company has demonstrated significant resource growth and conversion while providing robust economic
studies in its maiden Preliminary Economic Assessment and PFS. 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.
About Integra Resources
Integra is one of the largest precious metals exploration and development companies in the Great Basin
of the Western USA. Integra is currently focused on advancing its three flagship oxide heap leach projects:
the past producing DeLamar Project located in southwestern Idaho and the Wildcat and Mountain View
Projects located in western Nevada. The Company also holds a portfolio of highly prospective early-stage
exploration projects in Idaho, Nevada, and Arizona. Integra’s long-term vision is to become a leading USA
focused mid-tier gold and silver producer.
ON BEHALF OF THE BOARD OF DIRECTORS
Jason Kosec
President, CEO and Director
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CONTACT INFORMATION
Corporate Inquiries: [email protected]
Company website: www.integraresources.com
Office phone: 1 (604) 416-0576
Forward Looking and Other Cautionary Statements
Certain information set forth in this news release contains “forward‐looking statements” and “forward‐
looking information” within the meaning of applicable Canadian securities legislation and applicable
United States securities laws (referred to herein as forward‐looking statements). Except for statements of
historical fact, certain information contained herein constitutes forward‐looking statements which
includes, but is not limited to, statements with respect to: the future financial or operating performance
of the Compan y and the Compan y’s mineral properties and project portfolio; the results from work
performed to date; the estimation of mineral resources and reserves; the realization of mineral resource
and reserve estimates; the development, operational and economic results of technical reports on mineral
properties referenced herein; magnitude or quality of mineral deposits; the anticipated advancement of
the Company’ mineral properties and project portfolios; exploration expenditures, costs and timing of the
development of new deposits; underground exploration potential; costs and timing of future exploration;
the completion and timing of future development studies; estimat es of metallurgical recovery rates;
exploration prospects of mineral properties; requirements for additional capital; the future price of
metals; government regulation of mining operations; environmental risks; the timing and possible
outcome of pending re gulatory matters; the development, operational and economic results of the
Preliminary Economic Assessment for the Wildcat & Mountain View Projects and the PFS for the DeLamar
Project; the realization of the expected economics of mineral properties; future growth potential of
mineral properties; and future development plans.
Forward-looking statements are often identified by the use of words such as “may”, “will”, “could”,
“would”, “anticipate”, “believe”, “expect”, “intend”, “potential”, “estimate”, “budg et”, “scheduled”,
“plans”, “planned”, “forecasts”, “goals” and similar expressions. Forward -looking statements are based
on a number of factors and assumptions made by management and considered reasonable at the time
such information is provided. Assumptio ns and factors include: the Company’s ability to complete its
planned exploration programs; the absence of adverse conditions at mineral properties; no unforeseen
operational delays; no material delays in obtaining necessary permits; the price of gold remaining at levels
that render mineral properties economic; the Compan y’s ability to continue raising necessary capital to
finance operations; and the ability to realize on the mineral resource and reserve estimates. Forward‐
looking statements necessarily inv olve known and unknown risks and uncertainties, which may cause
actual performance and financial results in future periods to differ materially from any projections of
future performance or result expressed or implied by such forward‐looking statements. Th ese risks and
uncertainties include, but are not limited to: integration risks; general business, economic and competitive
uncertainties; the actual results of current and future exploration activities; conclusions of economic
evaluations; meeting various expected cost estimates; benefits of certain technology usage; changes in
project parameters and/or economic assessments as plans continue to be refined; future prices of metals;
possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated
costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to
operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing; the speculative nature of mineral exploration and
development (including the risks of obtaining necessary licenses, permits and approvals from government
authorities); title to properties; the impact of COVID -19 on the timing of ex ploration and development
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work and management’s ability to anticipate and manage the foregoing factors and risks. Although the
Company has attempted to identify important factors that could cause actual actions, events or results to
differ materially from those described in the forward-looking statements, there may be other factors that
cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to
study and consider risk factors disclosed in Integra’s annual report on Form 20-F dated March 17, 2023
for the fiscal year ended December 31, 2022, and Millennial Precious Metals Corp ’s management’s
discussion and analysis dated April 28, 2023 for the fiscal year ended December 31, 2022.
There can be no assurance that forw ard‐looking statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in such statements. The Compan y
undertakes no obligation to update forward‐looking statements if circumstances or management’s
estimates or opinions should change except as required by applicable securities laws. The forward-looking
statements contained herein are presented for the purposes of ass isting investors in understanding the
Company’s plans, objectives and goals, and may not be appropriate for other purposes. Forward-looking
statements are not guarantees of future performance and the reader is cautioned not to place undue
reliance on forwa rd‐looking statements. This news release also contains or references certain market,
industry and peer group data, which is based upon information from independent industry publications,
market research, analyst reports, surveys, continuous disclosure fili ngs and other publicly available
sources. Although the Company believes these sources to be generally reliable, such information is subject
to interpretation and cannot be verified with complete certainty due to limits on the availability and
reliability of raw data, the voluntary nature of the data gathering process and other inherent limitations
and uncertainties. The Company has not independently verified any of the data from third party sources
referred to in this news release and accordingly, the accur acy and completeness of such data is not
guaranteed.
Cautionary Note for U.S. Investors Concerning Mineral Resources and Reserves
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 news 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 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.