Integra Resources Corp. [ITR-TSXV; ITRG-NYSE American] reported drill results from the 100%-owned DeLamar project in southwestern Idaho. Results are from the Sullivan Gulch exploration program that was intended to further define a high-grade gold-silver feeder system in conjunction with the Sullivan Gulch bulk tonnage resource. Sullivan Gulch, in addition to targets at DeLamar such as War Eagle, Florida Mountain and BlackSheep, show the future potential at DeLamar for both resource expansion and mining scenarios.
Drill results from Sullivan Gulch (located on the eastern portion of the DeLamar Deposit) include drill hole IDE-22-228 that returned 4.10 g/t gold and 446.92 g/t silver (9.85 g/t gold equivalent (AuEq)) over 26.97 metres, including 13.47 g/t gold and 1,909.45 g/t silver (38.05 g/t AuEq) over 5.63 metres, including 80.40 g/t gold and 14,054.00 g/t silver (261.28 g/t AuEq) over 0.40 metres, including 40.74 g/t gold and 2,839.00 g/t silver (77.28 g/t AuEq) over 0.76 metres.
IDE-22-226 returned 1.09 g/t gold and 70.17 g/t silver (2.00 g/t AuEq) over 97.54 metres, including 6.57 g/t gold and 1,406.00 g/t silver (24.67 g/t AuEq) over 1.52 metres, including 7.62 g/t gold and 263.00 g/t silver (11.00 g/t AuEq) over 1.52 metres, including 7.32 g/t gold and 368.00 g/t silver (12.06 g/t AuEq) over 1.52 metres.
IDE-22-226 returned 0.57 g/t gold and 47.79 g/t silver (1.18 g/t AuEq) over 50.60 metres, including 1.02 g/t gold and 234.00 g/t silver (4.03 g/t AuEq) over 1.52 metres, including 0.99 g/t gold and 293.00 g/t silver (4.76 g/t AuEq) over 2.02 metres.
The results from drill hole IDE-22-228 confirm for the first time the presence of a new, northwest-trending structural zone hosting high-grade gold-silver dipping to the Northeast. All previous drilling at Sullivan Gulch targeted a north-northwest structure dipping to the Southwest, suggesting these new intercepts may represent a new, high-grade feeder system that has not been previously encountered.
This discovery demonstrates the future resource upside potential at the project, including the highest-grade silver intersect to date in drill hole IDM-22-228.
The drill results reported today further validate the geological interpretation that a high-grade feeder vein system exists in conjunction with and amongst the low-grade, disseminated, bulk-tonnage resource at Sullivan Gulch.
President and CEO, George Salamis, noted: â€œThe grades announced today are clearly spectacular and represent some of the highest-grade gold and silver intercepts ever encountered on the project. The immense value of the DeLamar project was recently highlighted in the February 2022 PFS Resource Estimate which included a large gold and silver resource. This resource base tied into a robust mine plan that demonstrated low-cost gold-silver production and a mining scenario that we believe can be permitted in a simple and straight-forward manner. As a potential new high-grade discovery, these results announced today further underscore that resource upside is not at all capped, but in fact further enhanced by results such as these shown today, as a large measure of today’s intercepts reside outside of current resource limits and mine plans. The growth opportunities and project optionality remain omnipresent at DeLamar.
â€œThis has always been a key hallmark of the project and Integra has been adding ounces to DeLamar at a discovery cost of approximately $10/oz AuEq. Furthermore, the Company has increased the total resource on the project by approximately 76%, from no declared resources in 2017 to those presented in the February 2022 PFS.” Mr. Salamis further adds, “Drilling to date at Sullivan Gulch has delineated a mineralized zone over a strike length of 1,000 m with a width of 200 m and a depth extent of up to 350 metres. The mineralized area at Sullivan Gulch correlates with a strong Induced Polarization chargeability footprint. This IP chargeability extends 900 m to the south beyond any existing drilling completed by the company, suggesting the mineralization at Sullivan Gulch continues on strike.â€