Overview

The DeLamar project is located in southwestern Idaho approximately 100 miles (160 km) from Boise. The project includes the historic Kinross’ DeLamar Mine that closed in 1998 due to low precious metal prices. The historic DeLamar Mine produced 1.6 million ounces of gold and 100 million ounces of silver1.

The DeLamar Project constitutes roughly 5,300 acres of patented and unpatented claims, and a further 4,100 acres of leased lands with approximately 1,575 historic drill holes and 145,940 meters of drilling outlined in historic databases. The DeLamar site includes all necessary infrastructure and existing on-site facilities, including all-season road access, grid power, a lined water treatment pond, workshop, and an office building.

In 2018, Integra drilled 23,400 m in 80 drill holes, identifying a new zone of mineralization not mined or fully explored by previous operators. This new zone, Sullivan Gulch, in addition to successful drilling below and around the existing resource, has proven the Company’s theory that the DeLamar Deposit has the potential for significant resource growth. Read a re-cap of 2018 here.

The Plan for 2019:

  • Drilling: 20,300 m
    • 10,000 m of drilling at Florida Mountain
    • 6,000 m of drilling at the DeLamar Deposit
    • 4,300 m of drilling on regional targets
  • Updated Resource Estimate - Complete
  • Maiden Preliminary Economic Assessment (H2 2019)
  • Advanced metallurgical testwork (Ongoing)

Read More

The 100% owned DeLamar Project was acquired from a wholly-owned subsidiary of Kinross Gold Corporation (“Kinross”) in November 2017. Kinross has retained ownership equal to ~7% of all of the issued and outstanding Integra shares.

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. Typical recoveries for dominantly oxidized ores processed through the DeLamar agitated leach mill between 1990 and 1998 ranged between 85% to 95% for gold and 70% to 80% for silver. Recoveries for mixed oxide ore typically ranged between 77% to 90% for gold and 65% to 75% for silver1.

  • “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.

The DeLamar project is subject to a retained variable net smelter return (“NSR”) royalty payable to Kinross.

  1. NI 43-101 Technical Report and Estimated Gold – Silver Resources, DeLamar Project, Integra Resources Corp. Effective Date October 1, 2017.

Summary of the DeLamar Deposit Mineral Resource Estimate

DeLamar Deposit Gold and Silver Resources

ClassificationTonnesg/t Auoz Aug/t Agoz Agg/t AuEqoz AuEq
Measured14,481,0000.51238,00036.416,942,0000.98456,000
Indicated105,140,0000.391,334,00023.479,241,0000.692,354,000
M&I119,621,0000.411,572,00025.196,183,0000.732,810,000
Inferred21,291,0000.39266,00015.210,418,0000.59401,000
  1. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
  2. Oxidized and Transitional Mineral Resources are reported at a 0.2 g AuEq/t cut-off in consideration of potential open-pit mining and heap-leach processing. Unoxidized Mineral Resources are reported at a 0.3 g AuEq/t cut-off in consideration of potential open pit mining a milling / agitated leaching or flotation processing. The Mineral Resources are constrained by pit optimizations.
  3. Gold equivalent grades were calculated using the metal prices and recoveries presented elsewhere in this press release.
  4. Rounding as required by reporting guidelines may result in apparent discrepancies between tonnes, grades, and contained metal content.
  5. The Effective Date of the Mineral Resources is May 1, 2019.
  6. The estimate of mineral resources may be materially affected by geology, environment, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues