It took much longer than we expected, but Integra Resources (ITR.V) has now finally released the assay results for the very first nine holes that were completed on the DeLamar project. And Integra enjoyed a 100% success rate: all 9 holes intersected mineralization, and all intersected mineralization appears to be economic: the ‘worst’ intercepts probably were 16.8 meters at 1.92 g/t AuEq and 9.1 meters at 1.08 g/t AuEq. And truth be told, these aren’t bad at all.
But what will attract more attention are the exceptionally long mineralized sections where Integra is proving up the existence of a bulk tonnage target at a (much) higher average grade than the current resource estimate: encountering 140 meters at 1.19 g/t AuEq, 151 meters at 1.20 g/t AuEq and 91 meters at 1.05 g/t AuEq is nothing short of spectacular. On top of that, hole 7, drilled to a depth of 335 meters, actually ended in mineralization…
Even more impressive is the fact the three holes with the long intervals were all drilled in the Sullivan Gulch area, an unmined part of the deposit. Integra has already completed two additional holes at Sullivan Gulch (hole 11 and 12), and we are now anxiously awaiting the assay results of those two holes to figure out the total size of this mineralized envelope. A surface area of 300 meters by 300 meters and an average thickness of 125 meters and a density of 2.65 would need an average grade of just 1-1.10g/t AuEq to end up with 1 Million gold-equivalent ounces at the Sullivan Gulch part of the deposit. A part of this zone is already incorporated in the existing resource estimate, but as the assay results indicate a higher average grade compared to the inferred resource (0.7 g/t AuEq at DeLamar), we definitely see the potential to expand the current 2.7Moz AuEq resource estimate at DeLamar.
Confirming the mineralized zones are consistent is a very important part of proving up the value at DeLamar. Although these first few holes could be seen as a ‘warm up exercise’, Integra Resources is definitely off to a good start. A second drill rig has been deployed and a third rig will arrive on site in June, which will accelerate the drill pace.
Go to Integra’s website
The author has a long position in Integra Resources. Integra is a sponsor of the website. Please read the disclaimer
