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 robust 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
Latest Drilling Highlights:
- The latest drilling highlights from DeLamar (North DeLamar, Stockpile 1) include:
- NDM-23-133: 0.23 grams per tonne (“g/t”) gold (“Au”) and 20.17 g/t silver (“Ag”) (0.49 g/t gold equivalent (“AuEq”)) over 103.63 m
- NDM-23-127: 0.29 g/t Au and 24.54 g/t Ag (0.61 g/t AuEq) over 30.48 m
- NDM-23-131: 0.24 g/t Au and 17.08 g/t Ag (0.46 g/t AuEq) over 97.54 m
- WD1-23-324: 0.23 g/t Au and 21.23 g/t Ag (0.50 g/t AuEq) over 27.43 m
- NDM-23-133: 0.23 grams per tonne (“g/t”) gold (“Au”) and 20.17 g/t silver (“Ag”) (0.49 g/t gold equivalent (“AuEq”)) over 103.63 m
- The latest drilling highlights from
Florida Mountain (Jacobs Gulch) include:- JG-23-024: 0.33 g/t Au and 10.22 g/t Ag (0.46 g/t AuEq) over 21.34 m
- JG-23-138: 0.32 g/t Au and 7.38 g/t Ag (0.41 g/t AuEq) over 41.15 m
- 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
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
- 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,
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.
- 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. - 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.
- The Tip Top Backfill (~2 Mt), 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. - 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.
- 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.
- The Jacobs Gulch Stockpile (~9 Mt) is located at
- 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 year, 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
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 to view drill collar location maps for the
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
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 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 (
DeLamar Project Overview
The past producing
About
Integra is one of the largest precious metals exploration and development companies in the
ON BEHALF OF THE BOARD OF DIRECTORS
President, CEO and Director
CONTACT INFORMATION
Corporate Inquiries: ir@integraresources.com
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
Forward-looking statements are often identified 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 based 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 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 Company’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 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. 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. 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
There can be no assurance that forward‐looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company 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 the 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 research, 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 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 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
Neither the
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