Integra's Florida Canyon Drilling Program Highlights Growth Potential
Integra Resources Provides Updates on Florida Canyon's Drilling Program
TSXV: ITR; NYSE American: ITRG
Integra Resources Corp. (TSXV: ITR; NYSE American: ITRG) announced promising results from its recent drilling program at the Florida Canyon Mine. This operation, located in Nevada, is central to Integra's ambitious plan to enhance its mineral resources and reserves. The drilling program is part of a long-term strategy intending to bolster the mine's life and increase its overall value.
The active 2025 drilling initiative encompasses 16,000 meters of reverse circulation and sonic drilling. The team is prioritizing three primary areas for investigation:
1. Exploring Near-Surface Oxide Potential
The focus on near-surface oxide potential stems from historical low-grade gold-mineralized waste that was previously deemed uneconomic due to lower gold prices. The initial drill results have revealed substantial near-surface intervals of oxide gold mineralization. Notably, the South Mine Dump showed consistent gold grades across various drill holes, with highlights such as:
- FCM25-0646: 0.21 grams per tonne (g/t) oxide gold (Au) over 73.2 meters
- FCM25-0652: 0.20 g/t oxide Au over 68.6 meters
- FCM25-0647: 0.20 g/t oxide Au over 53.3 meters
Approximately 70% of those drill intercepts surpassed the mine's current cut-off grade of 0.11 g/t Au, pointing to considerable potential in both the North and South Dumps.
Initial volume estimates for these dumps range significantly: the North Dump could hold between 19 to 32 million tonnes, while the South Dump might contain between 15 to 24 million tonnes, both exhibiting similar grade ranges of approximately 0.11 to 0.25 g/t oxide Au.
2. Expanding Existing Resources Between Pits
Another vibrant avenue of the 2025 drilling program is focused on assessing resources located between existing open pits. These 'saddle' and 'ridge' areas have been underexplored and demonstrate promising potential. Results from these locations, often leading to broader intervals of gold mineralization, have also been promising. Some highlighted drill intercepts include:
- FCM25-0592: 0.48 g/t Au over 76.2 meters
- FCM25-0625: 0.81 g/t Au over 76.2 meters
- FCM25-0609: 0.28 g/t Au over 100.6 meters
Drilling in these Inter-Pit zones continues to point towards encouraging gold grade continuity and heap leach potential, which is vital for the project's financial viability and overall growth.
3. Ongoing Metallurgical Testing
The team has begun metallurgical bottle roll leach tests on the drill material to evaluate potential gold recoveries and other aspects. Early indications suggest the possibility of favorable heap leaching characteristics, indicative of a productive gold mining process.
As the drilling program progresses, an updated mineral resource and reserve estimate is anticipated in 2026. This will align with the revised life-of-mine plan, showcasing the company's dedication to continuous improvement within its operations.
Leadership Insights
George Salamis, the President and CEO of Integra, expressed his enthusiasm regarding the results from the Florida Canyon's 2025 near-mine drilling initiative. He notes, “We are excited to see our 2025 program yielding successful results and remain focused on demonstrating our growth potential to our shareholders.” Salamis highlighted the significance of the initial estimates from the dumps, emphasizing the project’s potential for substantial returns.
Corporate Developments
The company has also seen changes within its leadership, with Eric Tremblay resigning from Integra's Board of Directors. The team acknowledges his contributions and wishes him the best in future endeavors.
Frequently Asked Questions
What results have been observed from Integra's drilling program?
Integra's drilling program has demonstrated potential gold mineralization at various depths, with significant intercepts observed.
What are the grade estimates for the North and South Dumps?
The estimated grades for both dumps hover between 0.11 and 0.25 g/t oxide Au.
When can new resource estimates be expected?
An updated resource estimate is expected in 2026, aligned with the revised life-of-mine plan.
What metallurgical testing is currently being conducted?
Metallurgical bottle roll leach tests are underway to assess the gold recovery potential from the drill samples.
What is Integra's operational focus?
Integra is focused on enhancing profitability and operational excellence at its Florida Canyon Mine while progressing development-stage projects.
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