Drilling at\u00a0Integra Resources\u2019\u00a0Florida Mountain deposit, within the DeLamar project in Idaho, has intersected higher-grade gold and silver mineralization, within and outside of the existing resource boundaries.<\/p>\n
The company has released the first four holes from a 7,000-metre drill campaign. Highlights include 114.9 metres of 1.27 g\/t gold equivalent starting at surface (0.59 g\/t gold and 52.68 g\/t silver), 117 metres of 2.3 g\/t gold equivalent from 4.3 metres (1.99 g\/t gold and 24.17 g\/t silver) as well as 113.7 metres of 1.85 g\/t gold equivalent starting at 4.9 metres (1.63 g\/t gold and 17.13 g\/t silver).<\/p>\n
\u201cWe are excited to report that the exploration team has successfully intersected high-grade gold and silver in each of the first four drill holes completed at Florida Mountain,\u201d George Salamis, the company\u2019s president and CEO, said in a release. <\/p>\n Drilling at Florida Mountain over the coming weeks will target depth extensions of the known mineralized shoots<\/p>\n<\/blockquote>\n<\/figure>\n \u201cSeveral of the high-grade intercepts were obtained beneath the current NI 43-101 resource model, and while today\u2019s results highlight only the first four drill holes in the exploration program at Florida Mountain, they further underscore the potential for high grade gold-silver resources to exist outside of the resource, that could potentially be modeled as high-grade mill feed in future economic studies.\u201d<\/p>\n A\u00a0September 2019 preliminary economic assessment (PEA) for DeLamar outlined a 27,000 t\/d heap leach operation with a 2,000 t\/d mill for the unoxidized Florida Mountain material, producing an average of 124,000 oz. of gold-equivalent a year over a 10-year mine life at all-in sustaining costs of $619 per oz.\u00a0According to Integra, the most recent exploration results suggest a higher potential mill feed grade than the 1 g\/t gold-equivalent suggested in the early-stage study.<\/p>\n Drilling at Florida Mountain over the coming weeks will target depth extensions of the known mineralized shoots. Two rigs are currently working on this deposit with a third drill expected to target the high-grade War Eagle target by early August.<\/p>\n Integra\u2019s DeLamar project features total measured and indicated resources of 172.4 million tonnes grading 0.7 g\/t gold-equivalent for a total of 3.9 million gold-equivalent ounces; additional inferred include 28.3 million tonnes at 0.55 g\/t gold-equivalent, totalling 500,000 oz. These are derived using cut-off grades between 0.2 g\/t and 0.3 g\/t gold-equivalent. Current resources are contained within the DeLamar and Florida Mountain deposits.<\/p>\n DeLamar is 160 km from Boise and includes the historic DeLamar mine, which produced 1.6 million oz. of gold and 100 million oz. of silver.<\/p>\n Midday Wednesday, Integra\u2019s stock was up 4% on the TSXV. The company has a C$262 million market capitalization.<\/p>\n\n