Intersections From Ten Additional Drill Holes At Florida Mountain
VANCOUVER - Integra Resources Corp. reported multiple high-grade gold-silver drill results from the Florida Mountain Deposit, located on the DeLamar Project in southwestern Idaho. The drill holes announced today continue to demonstrate high-grade gold-silver mineralization below the Florida Mountain Deposit. The drill results released today cover a strike length of 400 m in the north-south direction and further display the strong vein continuity present at Florida Mountain. The Company believes that further drilling at Florida Mountain has the potential to delineate a high-grade resource that could potentially compliment the economically robust bulk-tonnage operation.
George Salamis, President and CEO, said, “The high-grade gold-silver drill results are some of the thickest and best grades released to date by Integra. Consistent high-grade drill intercepts at Florida Mountain are showing strong continuity across multiple vein structures. Over the last three years we have intersected 92 high-grade gold-silver hits over 4.0 g/t AuEq covering strike lengths of 1,300 meters and depth extents of up to 400 m. The significance of this deeper drilling continues to demonstrate the resource expansion potential below Florida Mountain. Our targeted high-grade hit-rate in drilling is now 70% and is indicative of a thorough and increasing understanding of structural and geological controls of these veins and shoots.
It is evident that high-grade gold-silver resource potential occurs below the existing bulk tonnage, low grade, pit-constrained gold-silver resource that is currently the focus of a PFS expected in Q4 of this year. Integra will continue to pursue high-grade exploration from surface; however, if warranted and supported by additional internal studies and further drilling, the Company may seek to evaluate the possibility of transitioning to underground exploration at Florida Mountain if it appears strongly advantageous. The concept of potentially adding high-grade resources to a larger, bulk-tonnage mining scenario like the one presented in the PEA, could have the potential to further complement and possibly enhance the future economics and/or production profile of the Project.”
The intercepts consist of mineralization with wide-spread low-grade gold-silver values, crosscut and underlain by narrower high-grade, steeply dipping low-sulphidation quartz-adularia veins. Widespread intercepts from shallow oxide and transitional resource definition drilling conducted by Integra over the previous three years has confirmed potentially mineable widths and grades for these high-grade structures.
To further define the high-grade resource potential at Florida Mountain, the Company has chosen to initially focus on 3 of the 7 known high-grade vein structures. By focusing on these 3 structures, which include the Alpine Vein, Stone Cabin-Tip Top Vein and the remnant Trade Dollar – Black Jack vein, the Company can target drilling to better define each structure and begin modeling any resulting potential resource. The high-grade occurs in the form of steeply plunging shoots with down-dip extents of several hundred meters, primarily within the granite and is capped by lower-grade stockwork and disseminated mineralization (open-pittable) within the overlying volcanics. Strike lengths of the individual shoots tend to be 20 m to 200 m long and with widths of between 1 m and 8 m. Integra refined its understanding of the controls on high-grade vein mineralization at Florida Mountain in 2021 and has been using this model to specifically target the higher-grade “shoots” within the several vein systems identified to date. These higher-grade shoots are interpreted as being localized at the intersections of the principal North-Northwest vein structures with a series of north-east trending splays.