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Integra Resources Announces High-Grade Gold and Silver Discoveries in the BlackSheep District, Including 351.0 g/t Ag and 1.48 g/t Au (5.99 g/t AuEq) over 3.05 m and 0.44 g/t Au and 77.60 g/t Ag (1.43 g/t AuEq) over 78.94 m


Integra Resources An

iCrowdNewswire   Feb 19, 2021  6:11 AM ET

Integra Resources Corp. is pleased to announce multiple gold-silver discoveries at the DeLamar Project, situated in southwestern Idaho. These discoveries have been made in the BlackSheep District, a 30 square kilometer land package acquired by Integra in 2019, and located immediately north-northwest of the DeLamar Deposit.

“We are very pleased to announce multiple new gold-silver discoveries in the BlackSheep District. BlackSheep is a recently acquired 30 square kilometer land package that extends on a district-scale trend of mineralization to the north-northwest of the DeLamar Deposit. Numerous shallow historic workings are indicative of the gold-silver potential of the area; however, only very limited modern exploration has taken place. Today’s results strongly highlight the exciting potential for a new zone of gold-silver mineralization at the DeLamar Project, and this potential cannot be understated,” noted George Salamis, Integra Resources’ President and CEO. “The BlackSheep District is host to large surface soil geochemical and geophysical anomalies that have similar signatures to the DeLamar and Florida Mountain Deposits, including the same host lithologies and structural characteristics. Encountering both narrow high-grade gold-silver intercepts and large low-grade gold-silver intercepts in the first 4 drill holes of the exploration campaign suggests the presence of several large, prospective mineralized systems within the District. In all 4 drill holes, the Company intersected intense sulphide mineralization and significant veining, brecciation and alteration, as evidenced by the drill core photos included in this news release. The grades and widths reported in today’s results are particularly exciting as they show gold and silver grades that are substantially above the cut-off grades used in the 2019 resource estimate at the Project. More drilling is planned at multiple targets within the BlackSheep District aimed at further discovery and definition of the extent of gold-silver mineralization.”

Results for Georgianna and Lucky Days Targets within the BlackSheep District

The following table highlights selected intercepts from the Georgianna and Lucky Days drill results announced today:

Drill Hole Number Target From (m) To
(m)
Interval
(m) (1)
g/t Au(3) g/t Ag(3) g/t AuEq(2)
IGE-20-001 Georgianna 14.33 24.08 9.75 0.36 45.79 0.95
IGE-20-001 Georgianna 43.13 49.99 6.86 0.35 15.28 0.55
IGE-20-001 Georgianna 68.28 90.83 22.55 0.31 10.73 0.45
IGE-20-002

Incl:

Georgianna 12.80

14.33

23.47

17.38

10.67

3.05

0.66

1.48

117.25

351.00

2.17

5.99

IGE-20-002

Incl:

Georgianna 45.57

64.62

87.33

85.96

41.76

21.34

0.30

0.38

10.87

17.96

0.44

0.61

LDE-21-001 Lucky Days 39.93 42.06 2.13 0.47 29.37 0.85
LDE-21-001 Lucky Days 318.33 319.73 1.40 1.65 227.00 4.57

(1)   Downhole thickness: true width varies depending on drill hole dip; drill holes are designed to intersect the interpreted mineralized zone at a relatively steep angle therefore true widths are close to downhole widths (approximately 60 to 70% conversion ratio)
(2)   Gold equivalent = g Au/t + (g Ag/t ÷ 77.70)
(3)   Intervals reported are uncapped

Results for the Milestone Deposit within the BlackSheep District

The following table highlights selected intercepts from the Milestone drill results announced today:

Drill Hole Number From (m) To
(m)
Interval
(m) (1)
g/t Au(3) g/t Ag(3) g/t AuEq(2)
IMS-20-015

Incl:

Incl:

Incl:

Incl:

Incl:

24.08

40.39

58.98

66.45

82.91

89.15

103.02

41.91

60.66

67.97

84.74

91.74

78.94

1.52

1.68

1.52

1.83

2.59

0.44

0.38

0.28

0.39

1.12

3.11

77.60

488.00

290.82

288.00

176.00

172.00

1.43

6.66

4.02

4.10

3.39

5.32

(4)   Downhole thickness: true width varies depending on drill hole dip; drill holes are designed to intersect the interpreted mineralized zone at a relatively steep angle therefore true widths are close to downhole widths (approximately 60 to 70% conversion ratio)
(5)   Gold equivalent = g Au/t + (g Ag/t ÷ 77.70)
(6)   Intervals reported are uncapped

BlackSheep: Geology, Structure and History

The BlackSheep District is cut by the large, north-northwest trending Milestone Fault. The Milestone Fault is host to a series of deep-seated mineralized structures that has been mapped northwesterly from the DeLamar Deposit, through the Milestone Deposit and BlackSheep gold-silver occurrences further north. Geological evidence suggests that this structural zone controlled the formation of a volcanic graben, with normal faulting, that extends to the west of the fault. As the basin formed, it filled with permissive deposit host rocks, mainly rhyolites, latites, and volcanic sediments. The Milestone Fault localized the flow of metal- rich hot spring waters, which altered and leached the host rock, and deposited metals in these areas.

Further underscoring the potential of the region, the BlackSheep District 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. 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 lower-grade stockwork 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 geochemical anomalies within the BlackSheep District remain untested, including Twin Peaks, Statute Hills/Spain, Argentum and other highly gold-silver anomalous areas.

The geochemical anomalies within the BlackSheep District also coincide strongly with geophysics, including strong Induced Polarization (“IP”) chargeability at both Georgianna and Lucky Days. The chargeability anomalies as shown in the diagram below, bare striking resemblance to the IP signature at the DeLamar Deposit, host to 2,810,000 ounces of gold-equivalent (“AuEq”) (1,572,000 oz Au and 96,183,000 oz Ag) (119,621,000 tonnes grading 0.41 g/t Au and 25.1 g/t Ag) in the Measured and Indicated (“M&I”) and 401,000 oz AuEq (266,000 oz Au and 10,418,000 oz Ag) (21,291,000 tonnes grading 0.39 g/t Au and 15.2 g/t Ag) in the Inferred category. As is the case with the soil geochemical anomalies, only a small fraction of the IP chargeability anomaly has been tested to date by the exploration team. Several square kilometers of IP chargeability anomalies remain to be tested in future exploration work.

Core logging from the reported drill holes thus far in the Georgianna and Lucky Days confirms the presence of a 30 m to 60 m wide mineralized structure, delineated by surface mapping, soil geochemistry and IP. This mineralization within the structures at both Georgianna and Lucky Days consists of hydrothermal brecciation and stockwork veining as well as colloform banded quartz veins associated with illite-pyrite alteration. The core images included in today’s release show examples of the mineralization encountered.

The BlackSheep District has seen mining dating back to the late 1800’s and early 1900’s; however, due to the limited erosion in the area the depth potential has remained untested. The vast land area is approximately 30 square kilometers and has seen extremely limited modern exploration. Integra’s drill campaign in the BlackSheep District represents the first concerted exploration program in this highly prospective area.

The gold-silver grades intersected in the Milestone drill hole announced in today’s news release are significantly higher grades than previous Milestone drill intercepts and are interpreted to represent the upper portion of a high-grade ‘feeder zone’ within the broader and lower-grade hydrothermal breccia pipe comprising the bulk of the existing resource. Several deeper holes are planned to follow this ‘feeder zone’ down an additional 150 m to the root of the breccia pipe where it is anticipated it will transition into a high-grade vein system. This intercept is located in the deeper central portion of the existing resource, outside of the 2019 Preliminary Economic Assessment (“PEA”) pit-shell, demonstrating that the existing resource is open to depth.

Given the location of this single drill hole and the high-grade gold-silver intercept, within a larger zone of low-grade gold-silver and relative to the Milestone 2019 pit-shell, it is possible that the reported intercept sits on the recently interpreted Milestone Fault and could be the location of a high-grade feeder system to Milestone and other targets in the region.

Additional drilling at Milestone is expected with an emphasis on the potential feeder structure.

Current Drill Status and Future Drilling

The drill results announced today provide significant reason to support future exploration drill programs in the BlackSheep District, especially when taken in context of the significant soil geochemical and IP anomalies present. One diamond drill rig is currently in operation at BlackSheep and will continue to test targets outlined in the current exploration program.

The Company has a second drill rig in operation at Florida Mountain which is testing high-grade gold-silver veins outside of the Florida Mountain resource envelope. The Company has completed approximately 2,200 m of the 10,000 m fully financed exploration drill program for 2021. In addition to exploration drilling, the Company is scheduled to deliver an updated Resource Estimate in Q2 2021 and a Pre-feasibility Study in Q4 2021.

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.

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 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 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 a robust economic study in its maiden Preliminary Economic Assessment. The Company is currently focused on resource growth through brownfield and greenfield exploration and the start of pre-feasibility level studies designed to advance the DeLamar Project towards a potential construction decision. For additional information, please reference the “Technical Report and Preliminary Economic Assessment for the DeLamar and Florida Mountain Gold – Silver Project, Owyhee County, Idaho, USA (October 22, 2019).”

ON BEHALF OF THE BOARD OF DIRECTORS

George Salamis
President, CEO and Director

CONTACT INFORMATION

Corporate Inquiries: ir@integraresources.com
Company website: www.integraresources.com
Office phone: 1 (604) 416-0576



Contact Information:

George Salamis
President, CEO and Director








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