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Integra Resources announced the commencement of the 2019 exploration program at its DeLamar gold-silver project.
Integra Resources Corp. (TSXV:ITR, OTCQX:IRRZF) announced the commencement of the 2019 exploration program at its DeLamar gold-silver project, situated in Owyhee County, in southwestern Idaho.
Highlights are as follows:
2018 Recap: 23,400 meters (m) of drilling conducted, resulting in significant low-grade and highgrade gold-silver discoveries at Sullivan Gulch, Henrietta and Florida Mountain
o All discoveries situated adjacent to existing resource boundaries and are wide-open for further expansion
• 2019 DeLamar Exploration and economic study program:
o Two-pronged approach aimed to further de-risk the project while concurrently enhancing value on the exploration front
o 20,000+ m of drilling planned for 2019, in addition to resource estimate updates, metallurgical assessments, geotechnical studies and other advanced studies that will lead to the completion of a preliminary economic assessment (PEA) study in H2 2019
• 2019 PEA designed to study the economics of open-pit mining and milling, in parallel with heap leaching on certain sections of the DeLamar and Florida Mountain deposits
• Integra appoints Timothy D. Arnold as vice-president of project development to manage the advancement of project studies
• One drill rig currently active on site, with a second rill rig to be added in February
George Salamis, president and CEO, commented:
Given the team’s exploration success in 2018, our plan for 2019 involves a two-pronged strategy designed to accomplish two primary objectives: to conduct more drilling in proximity to discoveries made in 2018, and to complete a resource estimate, metallurgical and other advanced studies leading to a PEA study in H2. The PEA will provide direction for future mine development options and permitting initiatives on the already sizeable gold-silver resource endowment at DeLamar.
Employing our enhanced understanding from our first year of drilling at DeLamar, the first objective will be to continue drilling on extension from areas where phenomenal widths of gold-silver mineralization, in some cases with high-grades, were encountered in 2018. Areas such as Sullivan Gulch, Henrietta and Florida mountain will be hit hard with more drilling during the winter, spring and summer field seasons. In addition to in-fill and step-out drilling on known zones, our geologists have highlighted multiple new high-priority targets in under-explored greenfield areas that merit early stage exploration and reconnaissance drilling.
The second objective, and in Integra management’s view equally as value enhancing for our shareholders, is to complete a revised resource estimate, a comprehensive metallurgical study and ultimately a PEA study that will underscore the economics of potential mine permitting and development scenarios, focused on future open-pit mining, milling and heap-leaching at the project.
In summary, our objectives for 2019 are clear: we expect to emerge at the end of the year with further resource upgrades, more discoveries enhancing the up-side potential of the project, and with a PEA that will serve to further de-risk the project and point the company in the direction of future mine development. 2019 is set to be a very exciting year for the company and its shareholders.
Click here to read the full Integra Resources Corp. (TSXV:ITR, OTCQX:IRRZF) press release.