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Integra Resources Corp

Company Data | Introduction | Projects in Hand | Management
News Update
| Chinese

Address :  400 Burrard Street, Suite 1050
Vancouver, BC
Canada V6C 3A6
Tel No.: 604-416-0576
Web Site: www.integraresources.com
E-mail: ir@integraresources.com
Contact Person: Chris Gordon
Position: Director, Corporate Development


Company Data

Traded Market: TSX-V | NYSE
Traded Symbol: ITR | ITRG
Outstanding Shares: 54.8 million
52 Week High: $ 5.90
52 Week Low: $ 3.20
Present Price: Click Here


Introduction

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Integra is a development-stage mining company focused on the exploration and de-risking of the past-producing DeLamar gold-silver project in Idaho, U.S. Integra is led by the management team from Integra Gold Corp., which successfully grew, developed and sold the Lamaque project, in Quebec, for $600-million 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.


FLAGSHIP PROJECT

DeLamar Gold-Silver Project, Owyhee County, Idaho, U.S.

The Delamar Project key highlights include:

  • Established production history: Over 100 years of prior open pit and underground mining operations, with total historic production of 1.6 million ounces of gold and 100 million ounces of silver.
  • “Under the radar” opportunity with multiple untested targets: The mine has remained relatively unknown since it was put on care and maintenance in 1998 following low metal prices, and no exploration work has taken place on multiple high conviction targets in over two decades.
  • Robust resource potential: As a result of limited exploration work during DeLamar’s operating mine life and no exploration post closure, the potential to expand existing mineralization and outline further near-surface bulk tonnage resources is high, as well as the opportunity to employ modern techniques to explore high grade underground targets.
  • Excellent infrastructure and existing on-site facilities: All-season road access, grid power, a lined water treatment pond, workshop, and an office building.

DeLamar has what it takes to be a mine. The Preliminary Economic Assessment (PEA) has demonstrated an economically robust, low cost operation. A land package that has quadrupled in size with multiple targets identified through IP, geochemistry, historical data compilation and mapping.

DeLamar and Florida Mountain Deposits Silver and Gold Resource Estimate:

Classification

Tonnes

g/t Au

oz Au

g/t Ag

oz Ag

g/t AuEq

oz AuEq

Measured

16,078,000

0.52

270,000

34.3

17,726,000

0.96

498,000

Indicated

156,287,000

0.42

2,106,000

19.7

98,788,000

0.67

3,377,000

Measured + Indicated

172,365,000

0.43

2,376,000

21.0

116,514,000

0.70

3,875,000

Inferred

28,266,000

0.38

343,000

13.5

12,240,000

0.55

500,000

Production Profile

124 Koz AuEq per year for 10 years /

Yr 2 to Yr 6 annual average of 148 Koz AuEq

Processing – Heap Leach

  • Throughput: 27,000 tpd
  • Average Au Recovery: 83%
  • Average Ag Recovery: 34%

Processing – Mill

  • Throughput: 2,000 tpd
  • Average Au Recovery: 90%
  • Average Ag Recovery: 80%

Production Profile:

  • Total: 196.2 Mt
  • Strip Ratio: 1.09
  • Mine Life: 10 years

(Please refer to the “Technical Report and Preliminary Economic Assessment for the DeLamar and Florida Mountain Gold-Silver Project, Owyhee County, Idaho, USA” dated October 22, 2019 for additional information about the Preliminary Economic Assessment.)

Current drill status and future exploration drilling

The drill results announced on April 8, 2021 provide a significant basis for expanding the current exploration drill program from two drill rigs to four drill rigs. Currently the Company has one drill rig positioned at Florida Mountain and one drill rig positioned at Henrietta Ridge. The additional drill rigs will be positioned at Florida Mountain and in the BlackSheep district.

Pre-feasibility study (PFS) and resource estimate update

The updated DeLamar deposit and Florida Mountain deposit National Instrument 43-101 resource estimate is expected to be delivered in late Q2 2021. The PFS is on track for completion and delivery in Q4 2021. Extensive metallurgical testwork is underway on the oxide and transitional material at Florida Mountain as well as grind optimization and flotation testwork on the unoxidized composites.

"In light of both continued success at Florida Mountain and the new gold-silver discoveries at BlackSheep, the company has decided to accelerate exploration efforts by increasing the number of drill rigs on the project from two to four," noted George Salamis, Integra Resources' president and chief executive officer. "At Florida Mountain it is becoming clear that a more meaningful drill program is warranted to advance the exploration of high-grade gold-silver potential below the existing low-grade pit-constrained resource. At BlackSheep, both the recent discovery of gold-silver mineralization at the Georgianna and Lucky Days targets along with the sheer size of the untested, several-square-kilometre geophysical and soil geochemical anomalies present, indicate the necessity for additional drill rigs to accelerate further testing of the area. Drill success at multiple targets on the DeLamar project over the past three years supports the company's view that current exploration is merely beginning to scratch the surface of upside potential, beyond the existing gold-silver resource already identified at the DeLamar and Florida Mountain deposits. The vast potential for expansion at DeLamar in multiple areas and targets strongly merits an increase in drill rigs on the project and a larger exploration program." (Please see news release dated April 8, 2021)


Management

Management and Directors

Stephen de Jong, Chairman

Mr. de Jong has 10 years of experience in the mining industry and was most recently the President and CEO of Integra Gold.

George Salamis, President and CEO, Director

Mr. Salamis has over 30 years of experience in the mining and resource exploration industry. He has been involved in over $2 billion of M&A transactions. Mr. Salamis was most recently Executive Chairman of Integra Gold Corp.

Andrée St-Germain, CFO and Corporate Secretary

Ms. St-Germain is an experienced mining finance executive with an extensive background in banking, mining finance and financial management.

Max Baker, Ph.D (Geo.), AusIMM, VP Exploration

Mr. Baker has over 40 years of exploration experience. He has been involved in the exploration and discovery of several significant deposits globally and has previously acted as Chief Geologist for Rennison Goldfields, Inc., Newcrest Mining Limited and Mount Isa Mines, as well as VP Exploration for several junior mining companies over the years.

Tim Arnold, Chief Operating Officer

Mr. Arnold has over 35 years of experience in hard rock mining; open pit and underground, engineering and production, consulting and operations. Mr. Arnold was the VP of Operations for Pershing Gold Corporation.

Josh Serfass, EVP, Corporate Development and IR

Randall Oliphant, FCPA, FCA, Strategic Advisor

Mark Stockton, VP Corporate Affairs and Sustainability

David Awram, Director

Timo Jauristo, Director

Anna Ladd-Kruger, Director

C.L. "Butch" Otter, Director

Carolyn Clark Loder, Director


News Update

On April 8, 2021, Integra Resources Corp. has released multiple gold-silver drill results from the DeLamar project in southwestern Idaho.

On February 18, 2021, Integra Resources Corp. announced 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 77.60 g/t Ag and 0.44 g/t Au (1.43 g/t AuEq) over 78.94 m.


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