INTEGRA INITIATES 10,000 METER DRILL PROGRAM AT FLORIDA CANYON, FOCUSED ON NEAR MINE OXIDE GOLD RESOURCE GROWTH OPPORTUNITIES
Integra Resources (ITRG) has initiated a 10,000-meter drill program at its Florida Canyon Mine in Nevada, marking the first phase of a multi-year growth strategy. The program, budgeted at US$1.5 million, focuses on three key areas: near-surface oxide potential from historical dump material (~2,000m), expanding in-situ resources between existing mine open pits (~5,000m), and testing lateral extensions and in-pit infill drilling (~3,000m).
Florida Canyon has historically produced 2.7 million ounces of gold from over 200 million tonnes of ore since 1986. Current proven and probable reserves stand at 70.4 Mt at 0.35 g/t gold for 785,000 ounces. The drilling program aims to support a mineral resource and reserve update and a revised life-of-mine plan in early 2026, with initial results expected in summer 2025.
Integra Resources (ITRG) ha avviato un programma di perforazione di 10.000 metri presso la sua miniera Florida Canyon in Nevada, segnando la prima fase di una strategia di crescita pluriennale. Il programma, con un budget di 1,5 milioni di dollari USA, si concentra su tre aree chiave: il potenziale ossidato vicino alla superficie derivante da materiale di scarto storico (~2.000 m), l'espansione delle risorse in situ tra le attuali cave della miniera (~5.000 m) e la verifica delle estensioni laterali e dei fori di riempimento all'interno delle cave (~3.000 m).
Florida Canyon ha storicamente prodotto 2,7 milioni di once d'oro da oltre 200 milioni di tonnellate di minerale dal 1986. Le riserve attuali dimostrate e probabili ammontano a 70,4 Mt a 0,35 g/t di oro per un totale di 785.000 once. Il programma di perforazione mira a supportare un aggiornamento delle risorse minerarie e delle riserve, oltre a un piano di vita della miniera rivisto previsto per l'inizio del 2026, con i primi risultati attesi per l'estate 2025.
Integra Resources (ITRG) ha iniciado un programa de perforación de 10,000 metros en su mina Florida Canyon en Nevada, marcando la primera fase de una estrategia de crecimiento a varios años. El programa, con un presupuesto de 1.5 millones de dólares estadounidenses, se enfoca en tres áreas clave: el potencial de óxidos cerca de la superficie a partir de material histórico de desecho (~2,000 m), la expansión de los recursos in situ entre las actuales minas a cielo abierto (~5,000 m) y la prueba de extensiones laterales y perforaciones de relleno dentro de las minas (~3,000 m).
Florida Canyon ha producido históricamente 2.7 millones de onzas de oro a partir de más de 200 millones de toneladas de mineral desde 1986. Las reservas probadas y probables actuales son de 70.4 Mt a 0.35 g/t de oro para un total de 785,000 onzas. El programa de perforación busca apoyar una actualización de los recursos minerales y reservas, así como un plan revisado de vida útil de la mina a principios de 2026, con resultados iniciales esperados para el verano de 2025.
Integra Resources(ITRG)는 네바다 플로리다 캐년 광산에서 10,000미터 시추 프로그램을 시작했으며, 이는 다년간 성장 전략의 첫 단계입니다. 총 예산 150만 달러인 이 프로그램은 세 가지 주요 영역에 집중합니다: 역사적 폐기물에서의 근표층 산화물 잠재력(~2,000m), 기존 광산 노천 갱도 사이의 현장 자원 확장(~5,000m), 그리고 측면 확장 및 갱도 내 보충 시추 시험(~3,000m)입니다.
플로리다 캐년은 1986년 이후 2.7백만 온스의 금을 2억 톤 이상의 광석에서 생산해왔습니다. 현재 입증 및 추정 매장량은 7,040만 톤, 금 함량 0.35 g/t로 785,000 온스에 달합니다. 이번 시추 프로그램은 2026년 초 광물 자원 및 매장량 업데이트와 수정된 광산 수명 계획을 지원하는 것을 목표로 하며, 초기 결과는 2025년 여름에 발표될 예정입니다.
Integra Resources (ITRG) a lancé un programme de forage de 10 000 mètres à sa mine Florida Canyon dans le Nevada, marquant la première phase d'une stratégie de croissance pluriannuelle. Ce programme, doté d'un budget de 1,5 million de dollars US, se concentre sur trois zones clés : le potentiel d'oxydes près de la surface provenant de matériaux historiques (~2 000 m), l'expansion des ressources in situ entre les fosses minières existantes (~5 000 m), et le test des extensions latérales ainsi que des forages de comblement dans les fosses (~3 000 m).
Florida Canyon a historiquement produit 2,7 millions d'onces d'or à partir de plus de 200 millions de tonnes de minerai depuis 1986. Les réserves prouvées et probables actuelles s'élèvent à 70,4 Mt à 0,35 g/t d'or pour un total de 785 000 onces. Le programme de forage vise à soutenir une mise à jour des ressources minérales et des réserves ainsi qu'un plan de vie de mine révisé début 2026, avec des premiers résultats attendus pour l'été 2025.
Integra Resources (ITRG) hat ein 10.000-Meter-Bohrprogramm in seiner Florida Canyon Mine in Nevada gestartet, was die erste Phase einer mehrjährigen Wachstumsstrategie markiert. Das Programm mit einem Budget von 1,5 Millionen US-Dollar konzentriert sich auf drei Hauptbereiche: das Potenzial von oberflächennahen Oxidmaterialien aus historischem Abraum (~2.000 m), die Erweiterung der in-situ-Ressourcen zwischen den bestehenden Tagebauen (~5.000 m) sowie die Erprobung lateraler Erweiterungen und Auffüllbohrungen innerhalb der Tagebaue (~3.000 m).
Florida Canyon hat seit 1986 historisch 2,7 Millionen Unzen Gold aus über 200 Millionen Tonnen Erz produziert. Die aktuellen nachgewiesenen und wahrscheinlichen Reserven belaufen sich auf 70,4 Mio. Tonnen mit 0,35 g/t Gold für 785.000 Unzen. Das Bohrprogramm zielt darauf ab, ein Update der mineralischen Ressourcen und Reserven sowie einen überarbeiteten Lebenszyklusplan der Mine Anfang 2026 zu unterstützen, wobei erste Ergebnisse für den Sommer 2025 erwartet werden.
- Program aims to expand mineral reserves/resources and extend mine life with minimal capital investment
- Strong operational start in 2025 with solid gold production and demonstrated cash flow generation
- Historical dump material offers immediate opportunity for low-strip, near-surface oxide gold targets
- Drilling program leverages existing infrastructure, minimizing capital requirements
- Current proven and probable reserves are relatively low-grade at 0.35 g/t gold
- Some target areas are sparsely drilled with limited historical data
- Upper portions of planned pit pushbacks are currently classified as inferred resources
Insights
Integra's strategic 10,000m drill program targets low-risk oxide gold opportunities at Nevada mine; sensible growth approach in favorable gold price environment.
Integra's announced 10,000-meter drill program at Florida Canyon represents a methodical, low-risk approach to resource expansion that's well-timed to capitalize on the current gold price environment. The company has intelligently structured this
The most compelling element is their strategy to re-evaluate historical waste dumps. With gold prices substantially higher today than during previous mining operations, material previously categorized as sub-economic now represents potentially viable ore. This approach has already proven successful at their DeLamar Project, suggesting this is a repeatable strategy across their portfolio. These dump areas offer a low-strip ratio opportunity that could impact near-term production with minimal capital investment.
Their second target focusing on "saddle" and "ridge" zones between existing pits demonstrates classic brownfield exploration logic. Historical operations frequently left these connecting zones under-explored, especially during lower gold price periods. Successfully connecting existing pits could optimize overall strip ratios and enhance operational efficiency.
The third opportunity targeting lateral extensions and infill drilling aims to de-risk areas already in the mine plan. This could improve resource classification and provide greater operational flexibility in the near term.
Florida Canyon's historical production of 2.7 million ounces provides strong geological validation for additional resource potential. The current reserves of 785,000 ounces at 0.35 g/t gold demonstrate that even modest grades are economically viable in this heap leach operation.
By focusing on near-mine opportunities leveraging existing infrastructure before pursuing broader exploration, Integra is maximizing capital efficiency and shortening the timeline to potential production impact. With results expected through summer 2025 and a resource update planned for early 2026, this program creates a clear catalyst timeline for potential value creation.
TSXV: ITR; NYSE American: ITRG
Highlights:
- The 2025 drill program will consist of ~10,000 meters ("m") of reverse circulation ("RC") drilling focused on near-mine targets identified at Florida Canyon, designed to support oxide mineral reserve and resource growth and mine life extension.
- Drilling commenced in early May and is expected to conclude in the third quarter of 2025, with initial results expected to be released during the summer months of 2025.
- The program is focused on testing near-mine targets at Florida Canyon in three key areas:
- Opportunity 1: Near-surface oxide potential from historical dump material (~2,000m): Drilling will target large volumes of historical gold-mineralized backfill and low-grade waste material previously estimated to be below the mining cut-off grade in a significantly lower gold price environment. These areas demonstrate the greatest near-term opportunity to increase mineral resources and potentially extend mine life.
- Opportunity 2: Expand in-situ resources between existing mine open pits (~5,000m): Drilling will target "saddle" and "ridge" areas located between active and historical pits. Many of these areas have been sparsely drilled historically and offer meaningful oxide growth potential directly adjacent to current and future mining phases.
- Opportunity 3: Test lateral extensions and in-pit infill drilling (~3,000m): Drilling will target lateral extensions of existing pits as well as infill drilling within areas planned for further pit pushbacks. Potential has been identified to improve resource classification, optimize mine planning, and potentially increase short-term ore feed.
- The 2025 drill program at Florida Canyon is expected to support a mineral resource and reserve update and a revised life-of-mine plan in early 2026.
George Salamis, President, CEO and Director of Integra commented: "Following a strong start to 2025 with solid operational results from Florida Canyon gold production and a demonstrated ability to generate cash flow, we are pleased to launch a growth-focused drill program. We see this program as a critical step in unlocking the next phase of value at Florida Canyon. We have identified significant potential to not only optimize the mining operation, but also to increase the production scale and mine life of the asset, leading to material value creation for Integra's shareholders. We look forward to sharing our progress over the coming months."
Florida Canyon: Long Operating History with Significant Growth Potential
Figure 1 – Florida Canyon Mine Property:
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Since the start of operations in 1986 through to the end of 2024, Florida Canyon has produced approximately 2.7 million ounces of gold from over 200 million tonnes ("Mt") of ore mined. As of December 31, 2024, proven and probable mineral reserves at Florida Canyon total 70.4 Mt at a grade of 0.35 grams per tonne ("g/t") gold for a total of 785,000 ounces of gold (refer to Integra's latest Mineral Reserves and Resources statement effective December 31, 2024 available on the Company's website at www.integraresources.com). Building on this long operating history, Integra believes there remains significant near-mine resource growth potential within the current permitted mine plan. With the recent increase in spot gold prices, areas historically considered uneconomic now present a compelling opportunity for re-evaluation.
Integra has identified multiple opportunities with the potential to increase the mine's production scale, extend mine life, and enhance future operational flexibility. Numerous mining optimization initiatives are being evaluated and are expected to positively impact current operations. Near-term growth opportunities require targeted exploration drilling and mine optimization work, while longer-term initiatives will focus on broader greenfield exploration across the extensive Florida Canyon land package.
This news release outlines the near-term, brownfield exploration activities that form the basis of the 2025 growth-focused drilling program at Florida Canyon. The program is expected to support a mineral resource and reserve update and a revised life-of-mine plan in early 2026.
2025 Florida Canyon Drill Program Overview
Figure 2 – Florida Canyon Mine 2025 Drilling Collar Locations:
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Integra's 2025 drill program at Florida Canyon represents the first phase of a focused, multi-year strategy designed to increase mine life and mineral resources and reserves, both within and outside the permitted pit limits. The program is also focused on improving operational flexibility and enhancing overall asset value. Importantly, these initiatives will leverage Florida Canyon's existing infrastructure and operational footprint, minimizing capital requirements while maximizing potential for a positive impact to future economics.
The first phase of the program is budgeted at approximately
Opportunity 1: Near-Surface Oxide Potential from Historical Dump Material (RC drilling: ~2,000m)
Figure 3 – Historical North Mine Dump Material Conceptual Section:
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Within the permitted Florida Canyon mine boundary there exists several large volumes of historically mined low-grade gold-mineralized dump material, averaging below the historical mine cut-off grades. This material is a product of decades of past mining and has been identified as a high-potential, low-strip, near-surface oxide gold target for growth. Potential has been demonstrated by the historical in-pit mine dumps (historical backfill material), which are already being partially utilized by current operations and offer an immediate opportunity to expand reserves with minimal mining cost. Objectives for drilling:
- Confirm gold grade continuity and distribution within the historical North Dumps;
- Provide material for metallurgical testing, including bottle rolls, column tests, and permeability assessments;
- Support potential conversion of this material into mineral reserves through inclusion in the updated resource and reserve block model and mine plan; and
- Increase operational flexibility by providing readily available, gold-mineralized material suitable for heap leaching, that will not require blasting.
This strategy directly supports Integra's objective of improving near to medium term ore feed without significant capital investment, while also reducing reliance on higher-strip in-situ fresh rock material.
A similar strategy was utilized at the Company's DeLamar Project ("DeLamar" or the "Project") located in
Opportunity 2: Expand In-Situ Resources Between Existing Mine Open Pits (RC drilling: ~5,000m)
Figure 4 – Conceptual Section of Central/Radio Tower Saddle Drilling Section:
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Integra will target in-situ gold resource expansion opportunities within "saddle" and "ridge" zones located between existing open pits. Several of these areas remain sparsely drilled and offer significant upside gold potential, with historical drilling demonstrating encouraging intercepts of oxide mineralization at or near surface. Objectives for drilling include:
- Testing the Central/Radio Tower Pit Saddle: material directly connecting two large areas of known gold mineralization;
- Testing Florida Canyon Saddle: area requires an improved structural geologic understanding and offers potential to host additional oxide mineralized gold material; and
- Testing North Pit Saddle: location of a potential satellite pit adjacent to an existing pit; drilling is required to follow up on a high-grade gold vein system that was historically underexplored.
Success within these identified zones has the potential to meaningfully increase mineral resources and reserves by extending existing pit limits within the current Florida Canyon Mine Plan of Operations.
Opportunity 3: Testing Lateral Extensions and In-Pit Infill (RC drilling: ~3,000m)
Additional drilling is planned to test lateral extensions of existing pits and to complete infill drilling within current areas planned for pit pushbacks. These areas offer potential to improve resource classification, optimize mine planning, and potentially increase short-term gold ore feed to the heap leach pads. Objectives for drilling include:
- Testing the North and Central Pit areas: the upper portions of the planned pit pushbacks are currently classified as inferred. Although this material is generally low-grade, infill drilling has potential to improve classification, enhance short-term mine planning, and increase oxide gold heap leach pad feed.
- Testing Jasperoid Hill Pit area: most of the near-surface oxide mineralization has been mined or is expected to be largely depleted within the next few years. However, at current gold prices, opportunities exist to potentially define additional near-surface gold mineralization.
Limited infill drilling has been historically completed within these areas and the 2025 drilling program aims to de-risk future production and unlock potential for readily accessible gold oxide material in a historically productive zone. By reducing geological risk and increasing oxide gold mineral inventory in accessible mineralized zones at Florida Canyon, the 2025 drilling program is expected to enhance both short-term operational flexibility and long-term mine planning.
Drill Program Timing
The 2025 growth-focused exploration drilling program at Florida Canyon is expected to be completed in the third quarter of 2025. Results from the drill program will support an updated mineral resource and reserve estimate and life-of-mine plan targeting early 2026. The drill program forms an important part of Integra's broader strategy of maximizing value from its portfolio of high-quality assets through disciplined capital allocation, operational excellence, and targeted near mine and regional exploration.
About Integra
Integra is a growing precious metals producer in the Great Basin of the
ON BEHALF OF THE BOARD OF DIRECTORS
George Salamis
President, CEO and Director
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by Raphael Dutaut (Ph.D., P.Geo, OGQ Membership 1301), Integra's Vice President, Geology and Mining. Mr. Dutaut is a "qualified person" as defined in National Instrument 43- 101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
Sampling and QA/QC Procedure
RC samples were collected at 5-foot intervals directly at the drill rig using pre-labeled bags. Diamond drill ("DDH") core samples were cut in half, sampled at 5-foot intervals, with one half sent for analysis and the other half retained for reference. Diamond drill holes were sampled on 5-foot intervals. Samples were submitted to American Assay Laboratories ("AAL") in
Gold analysis was performed on a 30-gram pulp using fire assay with ICP-AES finish. Samples returning >10 ppm Au were re-assayed using a gravimetric finish. Additionally, samples with Au >0.150 ppm underwent cyanide-soluble analysis and preg-robbing tests to assess metallurgical characteristics. Quality control protocols included the routine insertion of blank samples, certified reference materials (standards), and field and pulp duplicates. Blank material and standards were purchased from Moment Exploration Geochemistry. AAL also inserted internal control samples and duplicates within each batch.
Forward Looking Statements
Certain information set forth in this news release contains "forward‐looking statements" and "forward‐looking information" within the meaning of applicable Canadian securities legislation and in applicable
Forward-looking statements are based on a number of factors and assumptions made by management and considered reasonable at the time such statement was made. Assumptions and factors include: expected synergies from acquisition of Florida Canyon; the Company's ability to complete its planned exploration and development programs; the absence of adverse conditions at the Projects; satisfying ongoing covenants under the Company's loan facilities; no unforeseen operational delays; no material delays in obtaining necessary permits; results of independent engineer technical reviews; the possibility of cost overruns and unanticipated costs and expenses; the price of gold remaining at levels that continue to render the Projects economic, as applicable; the Company's ability to continue raising necessary capital to finance operations; and the ability to realize on the mineral resource and reserve estimates. Forward‐looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward‐looking statements. These risks and uncertainties include, but are not limited to: general business, economic and competitive uncertainties; the actual results of current and future exploration activities; conclusions of economic evaluations; meeting various expected cost estimates; benefits of certain technology usage; changes in project parameters and/or economic assessments as plans continue to be refined; future prices of metals; possible variations of mineral grade or recovery rates; the risk that actual costs may exceed estimated costs; geological, mining and exploration technical problems; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; risks related to local communities; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); title to properties; and other factors beyond the Company's control and as well as those factors included herein and elsewhere in the Company's public disclosure. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers are advised to study and consider risk factors disclosed in Integra's Annual Information Form dated March 26, 2025 for the fiscal year ended December 31, 2024, which is available on the SEDAR+ issuer profile for the Company at www.sedarplus.ca and available as Exhibit 99.1 to Integra's Form 40-F, which is available on the EDGAR profile for the Company at www.sec.gov.
Investors are cautioned not to put undue reliance on forward-looking statements. The forward-looking statements contained herein are made as of the date of this news release and, accordingly, are subject to change after such date. The Company disclaims any intent or obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of assumptions or factors, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. Investors are urged to read the Company's filings with Canadian securities regulatory agencies, which can be viewed online under the Company's profile on SEDAR+ at www.sedarplus.ca.
Cautionary Note for U.S. Investors Concerning Mineral Resources and Reserves
NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Technical disclosure contained in this news release has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. These standards differ from the requirements of the
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Integra Resources Corp.
FAQ
What is the size and budget of ITRG's 2025 Florida Canyon drill program?
What are the current mineral reserves at ITRG's Florida Canyon Mine?
How much gold has Florida Canyon Mine produced historically?
What are the three main target areas of ITRG's 2025 drill program?
When will ITRG release the results of the Florida Canyon drill program?
