Integra Announces Drill Results from Delamar Project: 108.8 M Grading 0.79 G/T GOLD Equivalent at Florida Mountain and 48.8 M Grading 0.73 G/T GOLD Equivalent at Blacksheep
1050 – 400 Burrard Street
Vancouver, British Columbia, Canada
V6C 3A6
Email: [email protected]
FOR IMMEDIATE RELEASE TSXV: ITR; NYSE American: ITRG
October 20, 2022 www.integraresources.com
INTEGRA ANNOUNCES DRILL RESULTS FROM DELAMAR PROJECT: 108.8 M GRADING 0.79 g/t GOLD
EQUIVALENT AT FLORIDA MOUNTAIN AND 48.8 M GRADING 0.73 g/t GOLD EQUIVALENT AT
BLACKSHEEP
• Drill results from Florida Mountain include:
o FME-21-138 - 0.59 grams per tonne (“g/t”) gold (“Au”) and 15.01 g/t silver (“Ag”) (0.79 g/t
gold equivalent (“AuEq”)) over 108.81 meters (“m”)
▪ Including 3.16 g/t Au and 131.00 g/t Ag (4.85 g/t AuEq) over 1.52 m
o FME-21-141 - 0.50 g/t Au and 41.50 g/t Ag (1.03 g/t AuEq) over 73.15 m
▪ Including 6.42 g/t Au and 745.00 g/t Ag (16.01 g/t AuEq) over 1.53 m
▪ Including 2.04 g/t Au and 539.00 g/t Ag (8.98 g/t AuEq) over 1.52 m
o FME-21-152 - 0.50 g/t Au and 31.63 g/t Ag (0.91 g/t AuEq) over 43.89 m
• Approximately the first 100 m of the Florida Mountain deposit host oxide and transitional gold-silver
mineralization that could be amenable to heap leaching . The drill results announced today continue
to demonstrate the strong continuity and grade of the oxide and transitional material destined for the
heap leach pad as demonstrated in the Company’s 2022 Pre-feasibility Study (“PFS”).
• Drill results from BlackSheep include:
o IGE-21-004 - 0.52 g/t Au and 110.58 g/t Ag (1.94 g/t AuEq) over 6.86 m
o LDE-21-005 - 0.59 g/t Au and 11.23 g/t Ag (0.73 g/t AuEq) over 48.77 m
▪ Including 8.62 g/t Au and 17.57 g/t Ag (8.85 g/t AuEq) over 1.52 m
• The BlackSheep target is a highly pr ospective, 25 square kilometer greenfield exploration target
northwest of the DeLamar Deposit. Integra has done very limited exploration drilling in BlackSheep to
date; however, the initial drill results suggest that BlackSheep could contain multiple oxide and
transitional gold-silver targets that could further complement DeLamar.
• Generally, the first 40 m of material at BlackSheep is oxide and transitional and could be amenable
heap leaching, subject to further metallurgical testwork . The Company also completed an extensive
surface mapping and sampling program at BlackSheep, surface assay samples include:
o Lucky Days – 2.76 g/t Au and 586.00 g/t Ag (10.30 g/t AuEq)
o Georgianna – 13.33 g/t Au and 109.57 g/t Ag (14.74 g/t AuEq)
o Twin Peaks – 6.12 g/t Au and 330.00 g/t Ag (10.37 g/t AuEq)
• With the exception of a portion of drill hole FME -21-138, none o f the results released today were
included in the recent 2022 Resource Estimate, further demonstrating upside potential for future gold
and silver resource expansion at DeLamar.
• The Company is currently drilling the low -grade, gold -silver stockpiles at DeLamar left behind by
previous operators.
Vancouver, British Columbia – Integra Resources Corp. (“Integra” or the “Company”) (TSX-V: ITR; NYSE
American: ITRG ) is pleased to announce drill results from the DeLamar Project (“DeLamar” or the
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“Project”) located in southwestern Idaho. The drill results announced today further demonstrate the
resource upside potential of the project in multiple areas, including the highly prospective BlackSheep
target located on trend northwest of the DeLamar Deposit.
“Over the past 4 years of exploration work and economic studies, which include a Preliminary Economic
Assessment and Pre -feasibility Study, one item has continued to demonstrate strong relevance at
DeLamar, the vast, untapped and untested gold-silver upside potential of the Project. Multiple targets for
resource expansion are located in proximity to and outside of the known gold-silver deposits at DeLamar
and Florida Mountain, ” states George Salamis, President and CEO . “In 4 short years, the Company has
established a large gold -silver resource on the Project, as shown in the Company’s Pre -feasibility Study,
while defining multiple targets on the Project with significant exploration potential. On average, the
Company has discovered ounces on the Project at a cost of approximately US$10 per ounce.”
“As outlined in the Pre -feasibility Study, DeLamar has the potential to produce a significant amount of
gold and silver with high-margins and low up-front capital. This profitable project will l ikely be further
enhanced in the future through the exploration and drilling of multiple targets around DeLamar, as shown
with these drill results. Even as the Company progresses the project into permitting and mine
development, exploration and resource expansion will continue to be a key focus of the Company.”
The following table highlights selected intercepts from Florida Mountain drill results announced today:
Drill Hole From
(m) To (m) Interval
(m) g/t Au g/t Ag g/t AuEq
FME-21-138 0.00 108.81 108.81 0.59 15.01 0.79
including 26.52 28.04 1.52 3.16 131.00 4.85
FME-21-138 151.18 152.55 1.37 0.87 342.00 5.27
FME-21-140 0.00 14.94 14.94 0.20 6.48 0.28
FME-21-140 31.70 64.31 32.61 0.24 6.81 0.32
FME-21-140 84.28 153.01 68.73 0.31 10.00 0.44
including 119.48 121.01 1.53 3.78 92.40 4.97
FME-21-140 169.47 187.91 18.44 0.44 11.61 0.58
FME-21-141 0.00 69.19 69.19 0.29 10.47 0.42
including 12.04 13.56 1.52 1.46 198.00 4.01
FME-21-141 112.78 185.93 73.15 0.50 41.50 1.03
including 115.82 117.35 1.53 6.42 745.00 16.01
including 157.58 159.11 1.53 1.30 147.00 3.20
including 166.73 168.25 1.52 2.04 539.00 8.98
FME-21-142 0.00 68.89 68.89 0.21 7.60 0.30
FME-21-142 103.94 105.46 1.52 2.22 2.89 2.26
FME-21-142 138.07 178.31 40.24 0.65 8.53 0.76
including 177.09 178.31 1.22 11.61 32.92 12.04
FME-21-143 32.92 69.49 36.57 0.28 20.11 0.53
including 32.92 34.44 1.52 4.92 30.01 5.30
FME-21-143 147.98 151.18 3.20 7.53 22.99 7.83
including 147.98 148.74 0.76 29.53 92.75 30.73
FME-21-145 134.11 135.64 1.53 4.95 5.82 5.02
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FME-21-151 93.88 128.93 35.05 0.41 4.56 0.47
FME-21-152 43.28 87.17 43.89 0.50 31.63 0.91
including 58.83 61.87 3.04 5.46 278.50 9.04
FME-21-152 101.04 102.57 1.53 0.01 145.00 1.88
FME-21-152 124.05 181.97 57.92 0.14 8.75 0.25
FME-21-153 52.73 126.34 73.61 0.14 16.15 0.34
FME-21-153 140.67 142.19 1.52 2.55 3.76 2.60
FME-21-153 187.91 208.18 20.27 0.43 17.16 0.65
including 187.91 189.59 1.68 0.87 98.13 2.13
FME-21-153 226.47 235.61 9.14 0.45 1.76 0.47
FME-21-153 374.14 375.97 1.83 0.61 136.67 2.36
including 374.14 374.90 0.76 1.29 235.00 4.31
FME-21-153 399.50 404.17 4.67 2.07 259.52 5.41
including 399.50 399.90 0.40 11.24 1148.00 26.01
including 402.64 404.17 1.53 3.24 464.00 9.21
FME-21-154 53.80 56.85 3.05 1.12 40.89 1.65
(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). Rounding may cause minor discrepancies in the AuEq
column.
(3) Intervals reported are uncapped
The intercepts reported today from Florida Mountain consist of mineralization with wide -spread low -
grade gold-silver values, at times crosscut and underlain by narrower high -grade, steeply dipping low -
sulphidation quartz-adularia veins. It is pertinent to note that with the exception of a portion of drill hole
FME-21-138, none of the intercepts reported above were included in the 2022 DeLamar Resource
Estimate completed alongside the PFS. It is also important to note that a large measure of some of the
thicker intervals of mineralization reported today contain oxide and transitional gold-silver mineralization
which, given their location, could be amenable to heap leaching.
To view a drill plan map of Florida Mountain, please click on the link below:
https://integraresources.com/site/assets/files/2572/drill_collar_location_-_fm_-_2022-10-20.pdf
To view cross sections of Florida Mountain, please click on the link below:
https://integraresources.com/site/assets/files/2572/fm_cross_sections_oct_2022_138-152.pdf
https://integraresources.com/site/assets/files/2572/fm_cross_sections_-_oct_140-142.pdf
The following table highlights selected intercepts from BlackSheep drill results announced today:
Drill Hole From
(m) To (m) Interval
(m) g/t Au g/t Ag g/t
AuEq
IGE-21-003 43.74 47.40 3.66 2.21 147.87 4.12
IGE-21-004 36.73 43.59 6.86 0.52 110.58 1.94
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IGE-21-004 109.12 130.45 21.33 0.15 5.62 0.22
LDE-21-004 182.88 210.31 27.43 0.15 12.91 0.32
including 208.79 210.31 1.52 1.26 4.72 1.32
LDE-21-004 246.89 289.56 42.67 0.18 3.22 0.22
including 246.89 248.41 1.52 1.08 4.42 1.14
LDE-21-005 70.10 91.44 21.34 0.17 24.61 0.49
including 85.34 86.87 1.53 0.33 161.00 2.40
LDE-21-005 141.73 190.50 48.77 0.59 11.23 0.73
including 143.26 144.78 1.52 8.62 17.57 8.85
(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)
(4) Gold equivalent = g Au/t + (g Ag/t ÷ 77.70). Rounding may cause minor discrepancies in the AuEq
column.
(2) Intervals reported are uncapped
To view a drill plan map of the BlackSheep, please click on the following link:
https://integraresources.com/site/assets/files/2572/drill_collar_location_-_bs_-_2022-10-20.pdf
The BlackSheep District, which includes the Lucky Days and Georgianna Targets, 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 that are adjacent to this area.
At the more deeply eroded DeLamar and Florida Mountain deposits, the high-grade vein mineralization
which was discovered and mined historically was partially in outcropping and surrounded by a halo of
low-grade stockwor k mineralization, which was subsequently mined by open pit. At the BlackSheep
District, which is less deeply eroded, only the upper part of the stockwork vein halo is exposed, and the
higher-grade veins are interpreted as being 100 m to 200 m below the current level of exposure. 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 geoch emical anomalies and mineralized surface showings within the BlackSheep District remain
untested, including Twin Peaks, Statue Hills/Spain, Argentum and other highly gold -silver anomalous
areas. This is a very large, 25 square kilometer area of untested potential.
In 2020 , the Company undertook a preliminary regional mapping program of the BlackSheep area.
Additional detailed mapping was then undertaken to characterize the mineralization at Lucky Days. In
2022, a further mapping program was undertaken by th e exploration team focusing on Twin Peaks and
Spain/Statue Hills to the North and an effort to map from Norther n Lucky Days to Twin Peaks. Though
complete assays of all samples have not been received, preliminary grab sample assays are encouraging,
including surface samples ranging from 1.06 g/t Au to 6.12 g/t Au.
The following table highlights selected surface samples from BlackSheep:
Area g/t Au g/t Ag g/t AuEq
Lucky Days 1.24 50.20 1.89
Lucky Days 2.56 125.00 4.17
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Lucky Days 2.49 79.80 3.52
Lucky Days 2.76 586.00 10.30
Lucky Days 1.31 2.35 1.34
Georgianna 13.33 109.57 14.74
Twin Peaks 2.55 66.00 3.40
Twin Peaks 6.12 330.00 10.37
Twin Peaks 1.16 23.80 1.47
Twin Peaks 2.15 80.30 3.18
Twin Peaks 1.92 22.20 2.21
Twin Peaks 1.61 10.20 1.74
Twin Peaks 1.06 30.50 1.45
(1) Gold equivalent = g Au/t + (g Ag/t ÷ 77.70)
To view a map of BlackSheep targets, please click on the link below:
https://integraresources.com/site/assets/files/2572/blacksheep_map_vuse.pdf
On-going Drill program:
The Company is currently engaged in a 11,000 m drill program designed to systematically test
approximately 60 million tonnes of previously mined but not processed, oxidized and transitional gold-
silver mineralisation that was stockpiled by previous mine op erators. One drill rig is currently active on
the project, with 9 drill holes completed in less than 2 weeks of drilling. It is expected that this drilling will
take 3 to 4 months, with preliminary results scheduled to start arriving in the next 4 to 6 weeks. If
successful, this program has the potential to add a vast amount of potentially heap leach gold -silver
mineralization to future mine plans at a very low-cost base.
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 submit ted 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 fini sh. 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
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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 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
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, a ssumptions,
future events or performance (often, but not always using phrases such as “plans”, “expects”, “is
expected”, “budget”, “scheduled”, “estimates”, “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 achieved) are not statements
of historical fact and may be forward -looking statements. In this news release, forwar d-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 advan cement 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 inf ormation 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
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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 gover nment, 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 formation 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 c ommunities 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 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 f orward-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.
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 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.