Integra Resources SEDAR Files NI 43-101 Technical Report for the Maiden Florida Mountain Gold-Silver Inferred Resource Estimate
TSX VENTURE: ITR
VANCOUVER, British Columbia , March 26, 2018 (GLOBE NEWSWIRE) -- Integra Resources Corp. (TSXV:ITR) (OTCQB:IRRZF) (the “Company” or “Integra”) has filed on SEDAR the Independent National Instrument 43-101 technical report for the Florida Mountain Gold-Silver Deposit resource estimate located in southwest Idaho, as described in the company’s news release dated February 8th, 2018. The report was posted as an update to the DeLamar Project NI 43-101 published in 2017 and is available on SEDAR and the Company’s website. The resource estimations for Florida Mountain and DeLamar were completed by Mine Development Associates (“MDA”) of Reno, Nevada.
Press Release Highlights:
- Florida Mountain Deposit inferred mineral resource at 0.3 grams per tonne (“g/t”) gold equivalent (“AuEq”) cut-off: 36,605,000 tonnes grading 0.57 g/t gold (“Au”) and 14.12 g/t silver (“Ag”), for a total of 675,000 ozs of Au and 16.6 million (“M”) ozs Ag, or 871,000 oz AuEq at a grade of 0.74 g/t AuEq
- Integra’s DeLamar Project inferred mineral resource estimate now 3.54 M AuEq oz at a grade of 0.71 g/t AuEq using a 0.3 g/t AuEq cut-off
- The inferred resource estimate at DeLamar is delineated solely from shallow drill-holes with an average depth of 130m
- Integra has drilled 1400 meters (“m”) in 4 drill holes to date of the 6,000m Phase 1 drill program at DeLamar, designed to upgrade the existing low-grade resource, provide material for metallurgical test-work and explore for high-grade mineralization at depth.
Florida Mountain Inferred Resource – substantial ounces with high-grade exploration targets
The NI 43-101 technical report filed today incorporates approximately 133,000 m of historic drilling in 1,075 drill holes. This historic drilling was carried out from the 1970s to 1990s by previous operators of the site, including NERCO and Kinross Gold. The average depth of drill holes used to compile the Florida Mountain resource estimate is 130m; however, limited historic drilling below 130m vertical has intersected significant gold and silver intercepts, demonstrating the need for additional exploration at depth and along strike.
Table 1. Highlighted Drill Intercepts Below Current Mining Surface at the Florida Mountain Deposit
|Hole||From (m)||To (m)||Thickness (m)||g/t Au||g/t Ag|
*Drill intercept lengths only are reported in the tabulations; it is estimated that true widths will be less than 75% of the reported widths
Florida Mountain has a rich mining history that began in the late nineteenth century. During this period, the late 1800s to early 1900s, mining was conducted underground, predominantly on the Trade Dollar-Black Jack vein system. Historical records available from this period indicate that these veins were mined over a strike length of 1,800 m and vertical extents up to 450 m. Similar vein systems are located west of the Trade Dollar-Black Jack veins. These systems, the Ontario, Arcuate, Tip Top and Stone Cabin vein structures, were not mined historically and represent high-quality targets for high-grade mineralization.
Since the start of the 2018 campaign, the Company has drilled 1,400m in 4 drill holes. This drilling is part of an initial 6,000m drill program at the DeLamar deposit that will test both the low-grade inferred resource at DeLamar and the high-grade vein system historically intercepted by NERCO/Kinross. Initial drill results from this program are expected in the coming weeks.
Drilling will commence on the Florida Mountain deposit in summer 2018, with initial drilling to be focused on the depth extensions of veins that were mined at surface by Kinross in the 1990s.
The scientific and technical information contained in this news release has been reviewed and approved by Gary Edmondo of Reno, Nevada, who serves as Integra’s Chief Geologist, and is a "qualified person" within the meaning of 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 its 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
President, CEO, and Director
Company website: www.integraresources.com
Office phone: 1 (604) 416-0576
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 discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) 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 estimation of mineral resources; magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; future operations; future exploration prospects; the completion and timing of mineral resource estimates; the length of the current market cycle and requirements for an issuer to survive in the current market cycle; future growth potential of Integra; and future development plans.
These forward-looking statements are based on reasonable assumptions and estimates of management of Integra at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Integra to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: 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 certain 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; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations 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 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 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 as anticipated, estimated or intended.
Readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, Integra assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.