Integra Resources Intercepts 1080.90 g/t Ag and 0.28 g/t Au (13.00 G/t AuEq) Over 4.57 m in High-grade Discovery at the Delamar Project
TSX VENTURE: ITR
Press Release Highlights:
- Drilling has confirmed a shallow high-grade discovery at the Henrietta Target, located 500 meters (“m”) west of the DeLamar Deposit
- Highlights include: IDM18_066: 3.33 grams per tonne (“g/t”) gold equivalent (“AuEq”) over 30.48 meters, incl 13.00 g/t AuEq over 4.57 m
- Henrietta is the first discovery made validating the theories of recent on-site studies by world-renowned low-sulfidation epithermal geology experts Dr. Richard Sillitoe and Dr. Jeffrey Hedenquist
- Assays are pending for drill hole IDM18_067 and additional drill holes are planned to the north for early 2019
VANCOUVER, British Columbia, Oct. 10, 2018 (GLOBE NEWSWIRE) -- Integra Resources Corp. (TSXV:ITR ; OTCQX:IRRZF) (the “Company” or “Integra”) is pleased to announce the discovery of a wide and shallow high-grade silver and gold zone at its 100% owned DeLamar Project, situated in southwestern Idaho. The high-grade drill result from the Henrietta Target (“the Target” or “Henrietta”) is situated 500 m west of the current DeLamar inferred resource boundary with mineralization starting within 100 m of surface. Henrietta experienced limited underground hand-dug mining in the 1880’s. The initial drill hole IDM18_066 intersected a new zone of mineralization at approximately 75 m depth and was abandoned at a depth of 123 m after it pierced a hand-dug stope and could not continue. Further drilling is planned on extension from this high-grade intercept. Subsequent drill holes recently conducted at Henrietta have encountered numerous intersections of dense quartz veining and related alteration for which assays are pending.
George Salamis, President and CEO of Integra Resources, commented, “This new high-grade discovery at Henrietta can be linked to a greatly enhanced understanding of geological controls for the large DeLamar Project low-sulfidation epithermal system that has historically produced over 1. 6 M ozs of gold and over 100 million ounces of silver. This discovery is situated adjacent to the existing resource in a new area and further supports our thesis that modern exploration techniques and an entirely new understanding of geological controls can add significant value in a historically producing gold-silver district such as DeLamar.” Mr. Salamis added, “This discovery continues to support our view that persistent blue-sky exploration outside of the existing gold-silver inferred resource will ultimately grow the resource base at DeLamar. The area to the east and west of this new discovery at Henrietta is completely open for expansion. We are very excited by these results and look forward to further assays from Henrietta. This type of discovery is part of what makes the DeLamar Project so attractive on a district scale, especially as our understanding of the geological controls continues to grow. Both Sullivan Gulch and now Henrietta have the potential to expand the resource base at DeLamar outside of the known resource envelope. As we continue to step out beyond the untested or poorly tested boundaries of the DeLamar Project, we have strong confidence that Integra will continue to discover more gold-silver mineralization of significance.”
The Henrietta Target is host to a number of shallow, hand-dug shafts dating back to the late 1800’s. Integra’s latest interpretation of the Target, with the consultation of world-renowned epithermal deposit specialists Dr. Jeff Hedenquist and Dr. Richard Sillitoe, shows that the area surrounding Henrietta to the west of the DeLamar Deposit hosts numerous outcrops and geological features that are of particular interest and relevance to gold-silver mineralization in low sulphidation epithermal deposits. Geological surface mapping has been interpreted to indicate a preservation of the paleosurface relative to the timing and emplacement of epithermal mineralization in the district, and highlights strong exploration potential 100 m to 150 m beneath the currently mapped surface in this area. These first intercepts from the Henrietta Target were drilled in two shallow Reverse Circulation (“RC”) drill holes, both intersecting intense veining hosted by porphyritic rhyolite, which is the dominant gold-silver host rock throughout the DeLamar district. One additional drill hole (365 m) has been drilled in the Henrietta Target with results expected in the coming months.
DeLamar Drill Results Summary
The following table highlights the initial drill holes from the Henrietta Target.
|g/t Au||g/t Ag||g/t AuEq(2)|
|(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 85% conversion ratio)|
|(2) Gold equivalent = g Au/t + (g Ag/t ÷ 85)|
DeLamar Exploration Ongoing
Currently, the Company has one RC drill rig in operation in the Sullivan Gulch area and will soon be moving into the adjacent Sullivan Knob IP and surface geochemical anomaly area.
Since the start of the 2018 Exploration Campaign, the Company has drilled roughly 20,094 m in 64 drill holes.
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.
The scientific and technical information contained in this news release has been reviewed and approved by E. Max Baker PhD. (FAusIMM), Integra’s Vice President Exploration, of Reno, Nevada, and is a "qualified person"(“QP”) as defined in 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 it’s 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.