Integra Resources (TSXV: ITR; NYSE-AM: ITRG) has released assay results for five holes drilled as part of this year’s exploration program at the Florida Mountain deposit within the DeLamar project in southwest Idaho, with several long mineralized intercepts. The latest results “continue to underscore the potential that exists in near-deposit targets at Florida Mountain,” the company said in a statement.
The drill highlights included 88 metres of 1.51 grams gold per tonne and 102.12 grams silver per tonne (2.82 grams gold-equivalent per tonne) from a depth of 2 metres; 32 metres of 0.51 gram gold and 27.27 grams silver (0.86 gram gold-equivalent) from 209 metres; and 50 metres of 0.44 gram gold and 8.04 grams silver (0.54 gram gold-equivalent) from 102 metres.
Higher-grade intercepts also included 2 metres of 11.75 grams gold and 1,951.88 grams (36.87 grams gold-equivalent) from 305 metres; and 1 metre of 11.07 grams gold and 1,480.13 grams silver (30.12 grams gold-equivalent).
The five drill holes include results from both within and below the resource boundaries.
The company’s exploration team has recently modelled seven past-producing high-grade vein structures, which are plunging shoots that extend over 300 vertical metres below the top of Florida Mountain. These structures are approximately 100 metres to 200 metres long and 1 metre to 8 metres wide.
This updated model provided the data that helped design the latest drill program. The 88-metre intercept hit several of the high-grade shoots within a target area modelled as the northern extension of one of the veins.
“Today’s drill results continue to demonstrate the potential for a significant high-grade resource at Florida Mountain,” George Salamis, Integra’s president and chief executive, said in a release. Salamis added that the company has also defined a 1,200-metre geophysical anomaly, in an area known as Rich Gulch, to the west of the Florida Mountain resource, as part of an induced polarization geophysics program.
Integra is also completing metallurgical drilling to determine the optimal processing pathways for the DeLamar and Florida Mountain deposits. The company plans to advance these to the prefeasibility level next year.
Two drills are working at Florida Mountain, with a third rig active at the War Mountain target.
A September 2019 preliminary economic assessment (PEA) for DeLamar outlines a 27,000-tonne-per-day heap leach operation with a 2,000-tonne-per-day mill for the unoxidized Florida Mountain material, producing an average of 124,000 oz. gold-equivalent per year over a 10-year mine life at all-in sustaining costs of US$619 per ounce.
Integra’s DeLamar features total measured and indicated resources of 172.4 million tonnes grading 0.7 gram gold-equivalent for a total of 3.9 million gold-equivalent ounces. Additional inferred include 28.3 million tonnes at 0.55 gram gold-equivalent, totalling 500,000 ounces. Current resources are contained within the DeLamar and Florida Mountain deposits.
The project is 160 km from Boise and includes the historic DeLamar mine, which produced 1.6 million oz. gold and 100 million oz. silver.