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Exploration Drilling at Idaho Property Yields Positive Results

Streetwise Reports, Streetwise Reports
0 Comments| February 18, 2020

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The outcomes at Integra Resources' gold-silver project are detailed in an Echelon Wealth Partners report.

Click to enlarge

Ryan Walker, an analyst with Echelon Wealth Partners, reported in a Feb. 6 research note that recent drill results from Integra Resources Corp.'s (ITR:TSX.V; IRRZF:OTCQB) DeLamar project in Idaho expanded one zone and delineated a new anomaly. "We contend that the latest results tend to support the regional prospectivity of the land package assembled by Integra Resources," Walker commented.

The analyst reviewed the results.

Drilling, for one, extended the 1.2 kilometer (1.2 km)-long, gold-silver mineralized zone on the War Eagle property in the southeast corner of DeLamar another 300 meters (300m), Walker indicated. Mineralization in the War Eagle zone remains open.

Two, about 3 km to the west of War Eagle and due east of Florida Mountain, Integra outlined a "new, 1,400m by 600m, high-intensity, gold-silver-arsenic-molybdenum in-soil anomaly," relayed Walker. Because it shares roughly the same size and intensity as the resource envelope at Florida Mountain, the anomaly "represents potential to add shallow oxide and transitional mineralized material amenable to heap leaching," he commented.

Walker also provided the recent highlight assays from DeLamar, which were 5.4 grams per ton (5.4 g/t) gold and 45.85 g/t silver over 3.05m (from 227.99m downhole) in Hole IWE19-06. Hole IWE19-04 returned 2.98 g/t gold and 7.27 g/t silver over 3.05m (160.93m). Hole IWE19-05 showed 3.29 g/t gold and 155.57 g/t silver over 0.30m (319.13m).

Regarding the two primary findings at DeLamar, Walker wrote, Integra plans to drill another 5,000m in the War Eagle zone this year to define high-grade shoots there and to have an induced polarization survey over the anomaly carried out this summer.

Echelon increased its target price on Integra Resources to CA$2.25 per share from CA$1.50 because it moved to a valuation based on discounted cash flow. The target includes a 1.0x multiple representing a premium to peers, which is warranted because Integra's DeLamar project is of a strategic size, substantial exploration remains there and the project is in a geopolitically stable and mining friendly jurisdiction. In comparison, Integra, rated Speculative Buy, is trading now at around CA$1.24 per share.

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from Echelon Wealth Partners, Integra Resources Corp., February 6, 2020

Echelon Wealth Partners compensates its Research Analysts from a variety of sources. The Research Department is a cost centre and is funded by the business activities of Echelon Wealth Partners including, Institutional Equity Sales and Trading, Retail Sales and Corporate and Investment Banking.

I, Ryan Walker, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that I have not, am not, and will not receive, directly or indirectly, compensation in exchange for expressing the specific recommendations or views in this report.

Important Disclosures:
Is this an issuer related or industry related publication? Issuer.

Does the Analyst or any member of the Analyst’s household have a financial interest in the securities of the subject issuer? No

The name of any partner, director, officer, employee or agent of the Dealer Member who is an officer, director or employee of the issuer, or who serves in any advisory capacity to the issuer. No

Does Echelon Wealth Partners Inc. or the Analyst have any actual material conflicts of interest with the issuer? No

Does Echelon Wealth Partners Inc. and/or one or more entities affiliated with Echelon Wealth Partners Inc. beneficially own common shares (or any other class of common equity securities) of this issuer which constitutes more than 1% of the presently issued and outstanding shares of the issuer? No

During the last 12 months, has Echelon Wealth Partners Inc. provided financial advice to and/or, either on its own or as a syndicate member, participated in a public offering, or private placement of securities of this issuer? Yes

During the last 12 months, has Echelon Wealth Partners Inc. received compensation for having provided investment banking or related services to this Issuer? Yes

Has the Analyst had an onsite visit with the Issuer within the last 12 months? Yes. DeLamar mine site in Idaho, including mine office, core facility, truck shop, etc. (Feb. 11, 2019)

Has the Analyst or any Partner, Director or Officer been compensated for travel expenses incurred as a result of an onsite visit with the Issuer within the last 12 months? No

Has the Analyst received any compensation from the subject company in the past 12 months? No

Is Echelon Wealth Partners Inc. a market maker in the issuer’s securities at the date of this report? No

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