Integra Reports Final Oxide Drill Results and Key Observations from Stockpile Drill Program at Delamar
1050 – 400 Burrard Street
Vancouver, British Columbia, Canada
V6C 3A6
Email: [email protected]
FOR IMMEDIATE RELEASE TSXV: ITR; NYSE American: ITRG
August 24, 2023 www.integraresources.com
INTEGRA REPORTS FINAL OXIDE DRILL RESULTS AND KEY OBSERVATIONS FROM STOCKPILE DRILL
PROGRAM AT DELAMAR
Vancouver, British Columbia – Integra Resources Corp. (“Integra” or the “Company”) (TSXV: ITR; NYSE
American: ITRG) is pleased to announce the remaining drill results from the stockpile drill program at the
DeLamar Project (“DeLamar” or the “Project”) located in southwestern Idaho. The stockpile drill program
was completed in Q2 2023 and totaled 12,588 meters (“m”) in 321 drill holes. This news release includes
results from the remaining 145 drill holes representing 4,244 m.
The stockpile drill program at DeLamar was designed to test a large portion of the estimated 60 million
tonnes (“Mt”) of gold and silver mineralized material that was stockpiled and/or used as backfill at the
Project by previous operators. The Company believes that oxide -and-mixed gold and silver mineralized
material from the stockpiles and backfill at DeLamar has the potential to increase the heap leach mine life
of the Project in future phases and further bolster the robu st economics presented in the 2022 Pre -
feasibility Study (“PFS”).
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 expects to submit the
Mine Plan of Operations (“MPO”) at DeLamar to the United States Bureau of Land Management. The MPO
is the first significant step in the National Environmental Policy Act permitting process as it represents the
proposed action for the Project.
Latest Drilling Highlights:
• The latest drilling highlights from DeLamar (North DeLamar, Stockpile 1) include:
o NDM-23-133: 0.23 grams per tonne (“g/t”) go ld (“Au”) and 20.17 g/t silver (“Ag”) (0. 49 g/t
gold equivalent (“AuEq”)) over 103.63 m
o NDM-23-127: 0.29 g/t Au and 24.54 g/t Ag (0.61 g/t AuEq) over 30.48 m
o NDM-23-131: 0.24 g/t Au and 17.08 g/t Ag (0.46 g/t AuEq) over 97.54 m
o WD1-23-324: 0.23 g/t Au and 21.23 g/t Ag (0.50 g/t AuEq) over 27.43 m
• The latest drilling highlights from Florida Mountain (Jacobs Gulch) include:
o JG-23-024: 0.33 g/t Au and 10.22 g/t Ag (0.46 g/t AuEq) over 21.34 m
o JG-23-138: 0.32 g/t Au and 7.38 g/t Ag (0.41 g/t AuEq) over 41.15 m
o JG-23-181: 0.34 g/t Au and 11.15 g/t Ag (0.49 g/t AuEq) over 19.81 m
Drill Program Highlights:
The stockpile and backfill program tested 4 targets at DeLamar and 2 targets at Florida Mountain,
representing approximately 49 Mt and 11 Mt of mineralized material respectively. At DeLamar, the targets
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included the North DeLamar and Sommercamp Backfill as well as Stockpiles 1 and 2. At Florida Mountain,
the targets included the Jacobs Gulch Stockpile and Tip Top Backfill. Highlight intercepts from each target
of the drill program released since December 2022 include:
DeLamar
• North DeLamar Backfill: NDM-22-039: 0.27 g/t Au and 24.60 g/t Ag (0.59 g/t AuEq) over 111.25 m
• Stockpile 1 & 2: WD1-23-168: 0.65 g/t Au and 20.91 g/t Ag (0.92 g/t AuEq) over 39.62 m , including
12.51 g/t Au and 31.04 g/t Ag (12.91 g/t AuEq) over 1.52 m
• Sommercamp Backfill: SC-23-063: 0.50 g/t Au and 18.35 g/t Ag (0.74 g/t AuEq) over 38.10 m
Florida Mountain
• Jacobs Gulch Stockpile: JG-23-109: 0.62 g/t Au and 9.54 g/t Ag (0.74 g/t AuEq) over 76.20 m, including
7.30 g/t Au and 9.13 g/t Ag (7.42 g/t AuEq) over 1.53 m
• Tip Top Backfill: TT-23-012: 0.40 g/t Au and 12.26 g/t Ag (0.56 g/t AuEq) over 57.91 m, including 6.92
g/t Au and 64.24 g/t Ag (7.75 g/t AuEq) over 1.53 m
Integra’s President, CEO & Director, Jason Kosec commented: “The overall results from the stockpile drill
program have confirmed the Company’s initial belief that the gold and silver mineralized ma terial
stockpiled or used as backfill by previous operators has the potential to significantly increase the mine life
of the heap leach operation in future phases. The drill program has demonstrated the strong grade
continuity and gold and silver mineraliz ation present within this previously mined material. Located at
surface, and in some cases on top of the in-situ gold and silver resources, the mineralized stockpiles and
backfill have the potential to be mined at a reduced cost in future economic studies as the material was
processed by previous operators and is adjacent to proposed infrastructure. An updated mineral resource
estimate on the stockpiles and backfill is expected to demonstrate the potential for this material to bolster
the robust production profile and economics outlined in the PFS.”
Key Observations and Next Steps:
• The stockpile/backfill mineralized material, a portion of which was included as a pre-stripping cost in
the PFS, has the potential , subject to future studies, to significantly enhance the economics of the
overall Project.
o The Jacobs Gulch Stockpile (~9 Mt) is located at Florida Mountain and contains slightly higher-
grade mineralized material than other stockpiles and backfill. Subject to ongoing engineering,
this stockpile could be placed on the heap leach pad in early years of processing before the
current location becomes a development rock storage facility (“DRSF”). This stockpile may be
included in the MPO submittal.
o The North DeLamar Backfill (~16 Mt) contains the most mineralized material on a tonnage
basis and has the potential to contribute the greatest number of ounces of gold and silver in
the upcoming mineral resource estimate. A portion of this mineralized material was included
as a pre-stripping cost in the PFS and will be included in the MPO submittal.
o The Tip Top Backfill (~2 M t), located at Florida Mountain, is located on top of the in-situ
resource. Subject to ongoing engineering studies, this backfill material may be included in the
MPO submittal.
o Sommercamp Backfill (~5 Mt) is located at DeLamar and a portion of this mineralized material
was included as a pre-stripping cost in the PFS mine plan. In future mine plans, this material
has the potential to be mined at a lower cost since a portion of it was moved as waste in the
PFS. A portion of this backfill will be included in the MPO submittal.
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o Stockpiles 1 (~16 Mt) and 2 (~12 Mt) are located at DeLamar. These stockpiles are not situated
on top of in-situ resource which allows flexibility of processing in future mine plans.
• In general, the stockpile/backfill material drilled is consistent in both grade and mineralized width,
demonstrating impressive continuity. Access to mineralized material in the stockpiles and backfill are
expected to provide additional flexibility to load the heap leach pad during any potential operational
or weather related events once in operation.
• Metallurgical testwork on the mineralized material is underway with cyanide shakes complete and
bottle roll tests from all areas underway. Preliminary bottle roll testing from the DeLamar stockpiles
and backfill is encouraging. At least one column leach test from each of the six areas are planned to
begin before the end of the year.
• The mineralized stockpiles and backfill that were not included as part of pre-stripping costs in the PFS
is expected to have lower overall mining costs in future economic studies since the material is located
at surface and was previously mined, eliminating or limiting additional blasting costs.
• An updated mineral resource estimate is expected this quarter which should demonstrate strong
resource growth at the Project from the stockpiles and backfill, further growing the industry leading
resource endowment in the Great Basin controlled by Integra.
• The Company plans to begin an updated economic study for DeLamar next yea r, which will include
mineralized material from the stockpiles and backfill, highlighting the potential for this material to
increase the heap leach mine life and overall gold and silver production in future phases.
• The Company is currently focused on engineering and supporting modeling efforts for the submittal
of the MPO in Q4 2023. The primary focus has been on finalizing engineering and sequencing of both
the DeLamar and Florida Mountain open pits, DRSF locations, hydrogeologic modeling for wall rock
and water geochemistry with a concentration on post closure reclamation and site wide water balance
activities. These engineering and modeling efforts combined with the completed baseline studies will
be the foundation for the development of the Draft Environmental Impact Statement.
Follow the link below to view a table of selected intercepts from the DeLamar backfill and stockpile drill
program:
https://integraresources.com/site/assets/files/2572/2023-august-final_drill_tables.pdf
Follow the link below to view a cross section of the North DeLamar Backfill:
https://integraresources.com/site/assets/files/2572/ndm_section_aug23.pdf
Follow the link below to view a cross section of the Sommercamp Backfill:
https://integraresources.com/site/assets/files/2572/sommerc_bf_aug23.pdf
Follow the link below to view cross sections of Stockpile 1 and 2:
https://integraresources.com/site/assets/files/2572/sp1_stockpile_aug23.pdf
https://integraresources.com/site/assets/files/2572/sp2_stockpile_aug23.pdf
Follow the link below to view a cross section of the Jacobs Gulch Stockpile:
https://integraresources.com/site/assets/files/2572/jg_stockpile_aug23.pdf
Follow the link below to view a cross section of the Tip Top Backfill:
https://integraresources.com/site/assets/files/2572/tt_bf_aug23.pdf
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Follow the link below to view drill collar location maps for the DeLamar stockpile/backfill drill program:
https://integraresources.com/site/assets/files/2572/dc_location_dm_2023-08sm.pdf
Follow the link below t o view drill collar location map s for the Florida Mountain stockpile/backfill drill
program:
https://integraresources.com/site/assets/files/2572/dc_fm_2023-08sm.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.
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 sample quality and integrity thro ughout 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.sedarplus.ca
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:
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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
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 co nstitutes 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; estimates 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 regulatory 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 identif ied by the use of words such as “may”, “will”, “could”,
“would”, “anticipate”, “believe”, “expect”, “intend”, “potential”, “estimate”, “budget”, “scheduled”,
“plans”, “planned”, “forecasts”, “goals” and similar expressions. Forward -looking statements are b ased
on a number of factors and assumptions made by management and considered reasonable at the time
such information is provided. Assumptions and factors include: the Company’s ability to complete its
planned exploration programs; the absence of adverse c onditions 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 involve known and unknown risks and uncertainties, which may cause
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actual performance and financial results in future p eriods to differ materially from any projections of
future performance or result expressed or implied by such forward‐looking statements. These 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 exploration and development
work and management’s ability to anticipate and manage the foregoing factors and risks. Al though 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 forward‐looking statements will prove to be accurate, as actual results
and future events could differ materially from t hose 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 assisting 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 t he reader is cautioned not to place undue
reliance on forward‐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 res earch, analyst reports, surveys, continuous disclosure filings 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 ce rtainty 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 accuracy 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.
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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.