#United States #Nevada #Integra Resources #Florida Canyon #gold exploration

Integra Resources Initiates Extensive Gold Drill Program at Florida Canyon

In a significant step toward enhancing its gold mining operations, Integra Resources Corp. has officially commenced a 10,000-meter drill program at the Florida Canyon Mine, located in the mining-friendly state of Nevada. This initiative represents part of a comprehensive growth strategy aiming to boost the company’s mineral reserves and resources, thereby extending the mine’s life and increasing its overall value.

Key Objectives and Structure of the Drill Program

Set to take place throughout 2025, this drill program marks the first phase of a multi-year strategy designed to optimize operational efficiencies and expand mining capabilities. Integra plans to focus on near-mine targets identified throughout the Florida Canyon area that exhibit promising indicators of oxide mineralization. This critical endeavor aims to explore three primary areas:

1. Near-Surface Oxide Potential: Approximately 2,000 meters of drilling will be dedicated to historical dump material identified as containing gold mineralization. This area potentially represents a low-cost opportunity to increase resources without extensive mining expenses.
2. In-Situ Resource Expansion: Comprising about 5,000 meters, this part of the drilling aims to target gaps between existing open pits, exploring unexplored saddle and ridge zones known to contain oxide gold.
3. Testing Lateral Extensions and In-Pit Infill: Three thousand meters will engage in drilling planned lateral extensions of current pits and completing infill options in regions designated for further pit pushbacks. This effort seeks to optimize the classification of resources and streamline the mining process.

Drilling is anticipated to be completed by the third quarter of 2025, with the subsequent results expected to be disclosed during the summer months.

Historical Context and Future Outlook

Since its opening in 1986, Florida Canyon has yielded approximately 2.7 million ounces of gold from more than 200 million tons of ore. As of the end of 2024, the site has proven reserves of 70.4 million tons at a grade of 0.35 grams per ton, translating to around 785,000 ounces of gold. Given the recent rise in gold prices, Integra has recognized additional opportunities for resource growth that were historically considered economically unfeasible.

Integra is keenly aware of the ongoing market dynamics and the potential for resource expansion that its operations at Florida Canyon present. By revamping its strategies in tandem with current gold market conditions, the company aims to reinforce its production scale, extend operational lifespan, and ultimately deliver increased value to shareholders.

Insights from Leadership

George Salamis, President and CEO of Integra, expressed optimism regarding the new drill program, highlighting how it aligns with the company's vision for maximizing its assets' profitability. Salamis noted, "This drilling initiative is pivotal for unlocking further value at Florida Canyon. With significant potential to optimize operations and extend the mine's resources, we're focused on substantial and sustainable growth strategies that will benefit our shareholders and stakeholders alike."

The upcoming phase of drilling offers a dual advantage: it not only targets immediate resource expansion but also sets the groundwork for future exploratory endeavors within Florida Canyon’s extensive land package.

Conclusion

As Integra Resources embarks on this ambitious drilling campaign at Florida Canyon, industry observers and investors alike will be keenly watching for progress. The successful implementation of this program could establish a new benchmark for mineral resource expansion in gold mining operations in Nevada. With strategic foresight and determined execution, Integra aims to secure its position as a leader in the precious metals sector while remaining committed to sustainable mining practices and community engagement.

This development is emblematic of Integra's strategic direction, highlighting its commitment to operational excellence and maximization of high-value assets in one of the most prolific gold-producing regions in the United States.