FLORIDA CANYON FEASIBILITY STUDY DELIVERS SUBSTANTIAL INCREASE IN MINERAL RESERVE, GOLD PRODUCTION OVER AN 8-YEAR MINE LIFE AND US$0.8 BILLION IN AFTER-TAX FREE CASH FLOW; PROVIDES OPERATIONAL UPDATE
Original announcement by tmx on
- Company
- Integra Resources Corp.
- Ticker
- ITR
- Exchange
- TSX
- Region
- Nevada
- Primary commodity
- Gold
- Secondary commodities
- Silver
- Document categories
- Resource update, Metallurgy
- Extracted
- 2026-09-14 06:34:25 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Integra Resources announced results from an updated Feasibility Study for its Florida Canyon Mine in Nevada, reporting a 74% increase in Proven and Probable gold Mineral Reserves to 1.19 Moz. The study extends the mine life to 8 years with active mining through 2033 and projects over $0.8 billion in after-tax free cash flow. Annual gold production is expected to average 82 Koz, marking a 17% increase from previous estimates.
Reasoning: The Feasibility Study significantly enhances the Florida Canyon Mine's profile with a 74% increase in Proven and Probable gold reserves, an extended mine life, and increased annual gold production, leading to robust project economics and substantial cash flow generation.
Positive factors
- Substantial increase in Proven and Probable Mineral Reserves
- Extended mine life to 8 years
- Increased annual gold production by 17%
- Robust project economics with $0.8B after-tax free cash flow
- QP/CP sign-off for resource and reserve estimates
- NI 43-101 compliant study
- Cut-off grades disclosed for resource and reserve
- Contained metal growth of 506 Koz Au in P&P reserves
Negative factors
- Significant portion of total resource remains in Inferred category
- LOM average gold recovery for heap leach is moderate-to-weak (56.7%)
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 9
Classification and evidence
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: The Feasibility Study reports 118,471 kt at 0.31 g/t Au for 1,191 koz in the Probable category.
Evidence · table
“118,471”
Context: Probable Tonnes (kt)
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The Proven and Probable Mineral Reserve increased by 74% from 685 Koz Au to 1.19 Moz Au.
Evidence · text
“74% increase in Proven and Probable Mineral Reserves”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: Proven and Probable contained gold increased by 506 Koz Au from the previous estimate.
Evidence · text
“a 506 Koz Au increase in P&P”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Ms. Terre Lane, MMSA QP, and Mr. Antoine Teixeira de Carvalho, P.Geo., are named as Qualified Persons for the estimates.
Evidence · text
“Ms. Terre Lane, MMSA QP, a Global Resource Engineering, Ltd. employee.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: Cut-off grades for both resources (0.13-0.14 g/t oxide, 0.46 g/t sulphide) and reserves (0.14-0.15 g/t) are stated.
Evidence · text
“Mineral resources are reported at a cut-off grade ranging from 0.13 g/t to 0.14 g/t for oxides and is 0.46 g/t for sulfides.”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The Technical Report and estimates are prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Evidence · text
“prepare the Technical Report in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The total Inferred gold resource across Florida Canyon and Standard Mine is 165,879 kt at 0.65 g/t for 3,446 koz.
Evidence · table
“165,879”
Context: Inferred Tonnes (kt)
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document presents an updated Mineral Resource Estimate and Mineral Reserve Estimate as part of a Feasibility Study.
Evidence · text
“updated Technical Report Feasibility Study”
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: The resource and reserve estimates are part of a Feasibility Study.
Evidence · text
“Feasibility Study”
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: The LOM average gold recovery of 56.7% for the heap leach route is at the lower end of the moderate band (55%) and close to the weak band (45%) for heap leach gold.
Evidence · table
“56.7 %”
Context: LOM Average Gold Recovery (%)
Heap Leach Routeneutral
Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
Why it applies: The processing method described is conventional open-pit mining and heap-leach processing.
Evidence · text
“conventional open-pit mining and heap-leach processing methods”
Multi-Domain Testedpositive
Variability across ore domains (oxide, transition, fresh) has been addressed.
Why it applies: 3 distinct composites were tested
Extracted facts
Stored fact records: 9. Some facts used in scoring do not have a stored record.
Resource Estimates (6)
indicatedFlorida Canyon Mine · goldTonnes: 171842000Grade: 0.31Grade Unit: g/tContained Metal: 1706Contained Unit: kozView all detailsHide details
Identity
- Project
- Florida Canyon Mine
- Commodity
- gold
- Ticker
- ITR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-05-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Terre Lane, Antoine Teixeira de Carvalho
- Resource group id
- resource:24bfeb39d6a8fe5aacec
- Deposit or zone
- Florida Canyon Mine
- Material type
- oxide
Resource Data
- Category
- indicated
- Tonnes
- 171842000
- Grade
- 0.31
- Grade Unit
- g/t
- Contained Metal
- 1706
- Contained Unit
- koz
- Cutoff Grade
- 0.13
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2026-05-31
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-25T00:00:00.000Z
Reasoning: This indicated oxide resource contributes significantly to the overall project scale and confidence, forming a key part of the updated Feasibility Study.
Positive factors
- Large indicated oxide resource
- Part of an updated Feasibility Study
Evidence · table
“171,842”
Context: Indicated Tonnes (kt)
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredFlorida Canyon Mine · goldTonnes: 53312000Grade: 0.25Grade Unit: g/tContained Metal: 433Contained Unit: kozView all detailsHide details
Identity
- Project
- Florida Canyon Mine
- Commodity
- gold
- Ticker
- ITR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-05-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Terre Lane, Antoine Teixeira de Carvalho
- Resource group id
- resource:7268534feb7a5a76234e
- Deposit or zone
- Florida Canyon Mine
- Material type
- oxide
Resource Data
- Category
- inferred
- Tonnes
- 53312000
- Grade
- 0.25
- Grade Unit
- g/t
- Contained Metal
- 433
- Contained Unit
- koz
- Cutoff Grade
- 0.13
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2026-05-31
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-25T00:00:00.000Z
Reasoning: This inferred oxide resource provides future potential but requires further drilling to upgrade confidence for economic studies.
Positive factors
- Adds to overall resource base
Negative factors
- Inferred category has lower confidence
Evidence · table
“53,312”
Context: Inferred Tonnes (kt)
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredFlorida Canyon Mine · goldTonnes: 104004000Grade: 0.86Grade Unit: g/tContained Metal: 2876Contained Unit: kozView all detailsHide details
Identity
- Project
- Florida Canyon Mine
- Commodity
- gold
- Ticker
- ITR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-05-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Terre Lane, Antoine Teixeira de Carvalho
- Resource group id
- resource:fadc6cfaf60b3e124b22
- Deposit or zone
- Florida Canyon Mine
- Material type
- sulphide
Resource Data
- Category
- inferred
- Tonnes
- 104004000
- Grade
- 0.86
- Grade Unit
- g/t
- Contained Metal
- 2876
- Contained Unit
- koz
- Cutoff Grade
- 0.46
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2026-05-31
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-25T00:00:00.000Z
Reasoning: This large inferred sulphide resource represents significant future potential for the project, though its confidence level is lower than indicated resources.
Positive factors
- Large inferred sulphide resource with good grade
- Significant future potential
Negative factors
- Inferred category has lower confidence
Evidence · table
“104,004”
Context: Inferred Tonnes (kt)
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredStandard Mine · goldTonnes: 8532000Grade: 0.49Grade Unit: g/tContained Metal: 135Contained Unit: kozView all detailsHide details
Identity
- Project
- Standard Mine
- Commodity
- gold
- Ticker
- ITR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-05-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Terre Lane, Antoine Teixeira de Carvalho
- Resource group id
- resource:e1b397f55a9661c4350d
- Deposit or zone
- Standard Mine
- Material type
- oxide
Resource Data
- Category
- inferred
- Tonnes
- 8532000
- Grade
- 0.49
- Grade Unit
- g/t
- Contained Metal
- 135
- Contained Unit
- koz
- Cutoff Grade
- 0.118
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2026-05-31
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-25T00:00:00.000Z
Reasoning: This inferred oxide resource from the Standard Mine adds to the project's overall resource base, indicating potential for future growth.
Positive factors
- Adds to overall resource base from a new area
Negative factors
- Inferred category has lower confidence
Evidence · table
“8,532”
Context: Inferred Tonnes (kt)
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredStandard Mine · goldTonnes: 30000Grade: 1.47Grade Unit: g/tContained Metal: 1Contained Unit: kozView all detailsHide details
Identity
- Project
- Standard Mine
- Commodity
- gold
- Ticker
- ITR
Resource scope
- Estimate type
- resource
- Effective date
- 2026-05-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Terre Lane, Antoine Teixeira de Carvalho
- Resource group id
- resource:54ba5340b7228276dfa1
- Deposit or zone
- Standard Mine
- Material type
- sulphide
Resource Data
- Category
- inferred
- Tonnes
- 30000
- Grade
- 1.47
- Grade Unit
- g/t
- Contained Metal
- 1
- Contained Unit
- koz
- Cutoff Grade
- 0.414
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2026-05-31
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-25T00:00:00.000Z
Reasoning: This very small inferred sulphide resource at Standard Mine, while high-grade, has limited immediate impact due to its size and confidence level.
Positive factors
- High grade for a small inferred resource
Negative factors
- Very small tonnage
- Inferred category has lower confidence
Evidence · table
“30”
Context: Inferred Tonnes (kt)
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
probableFlorida Canyon Mine · goldTonnes: 118471000Grade: 0.31Grade Unit: g/tContained Metal: 1191Contained Unit: kozView all detailsHide details
Identity
- Project
- Florida Canyon Mine
- Commodity
- gold
- Ticker
- ITR
Resource scope
- Estimate type
- reserve
- Effective date
- 2026-05-31T00:00:00.000Z
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Terre Lane
- Resource group id
- resource:65b411e76239f5ed9028
- Deposit or zone
- Florida Canyon Mine
- Material type
- oxide
Resource Data
- Category
- probable
- Tonnes
- 118471000
- Grade
- 0.31
- Grade Unit
- g/t
- Contained Metal
- 1191
- Contained Unit
- koz
- Cutoff Grade
- 0.14
- Cutoff Unit
- g/t
Prior Estimate
- Resource Date
- 2026-05-31
- Prior Contained Metal
- 685
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-25T00:00:00.000Z
Reasoning: This large Probable Reserve represents a significant increase in confidence and scale for the project, underpinning the positive economics of the Feasibility Study.
Positive factors
- Substantial increase in Probable Reserves
- Forms the basis of the Feasibility Study
- Significant contained gold
Evidence · table
“118,471”
Context: Probable Tonnes (kt)
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 1191 against 685 previously
Metallurgical Results (3)
operational dataFlorida Canyon Mine · goldRecovery: 56.7 %Head Grade: 0.31Head Grade Unit: g/tView all detailsHide details
Identity
- Project
- Florida Canyon Mine
- Commodity
- gold
- Ticker
- ITR
Test Work
- Program Status
- detailed
- Test Type
- operational data
- Processing Route
- heap leach
- Sample
- LOM average
Recovery
- Recovery
- 56.7 %
- Recovery Basis
- actual_test
- Head Grade
- 0.31
- Head Grade Unit
- g/t
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-25T00:00:00.000Z
Reasoning: The LOM average gold recovery of 56.7% for the heap leach operation is a key economic driver, though it falls into the moderate-to-weak range for this processing method.
Positive factors
- Represents LOM average operational recovery
Negative factors
- Recovery is moderate-to-weak for heap leach gold
Evidence · table
“56.7 %”
Context: LOM Average Gold Recovery (%)
Tags used in scoring
Heap Leach Routeneutral
Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
Why it applies: processing_route matches the heap_leach signal
operational dataFlorida Canyon Mine · goldRecovery: 44.8 %Head Grade: 0.21Head Grade Unit: g/tView all detailsHide details
Identity
- Project
- Florida Canyon Mine
- Commodity
- gold
- Ticker
- ITR
Test Work
- Program Status
- detailed
- Test Type
- operational data
- Processing Route
- heap leach
- Sample
- ROM material
Recovery
- Recovery
- 44.8 %
- Recovery Basis
- actual_test
- Head Grade
- 0.21
- Head Grade Unit
- g/t
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-25T00:00:00.000Z
Reasoning: The 44.8% recovery for ROM material is at the lower end of expectations for heap leach gold, indicating potential for optimization or lower efficiency for this ore type.
Negative factors
- Recovery is weak for heap leach gold
Evidence · table
“44.8 %”
Context: LOM Average Gold Recovery (%)
Tags used in scoring
Heap Leach Routeneutral
Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
Why it applies: processing_route matches the heap_leach signal
Low Recoverynegative
Recovery below the weak band for the commodity and processing route.
Why it applies: 44.8% is below the weak band (45%)
operational dataFlorida Canyon Mine · goldRecovery: 63.3 %Head Grade: 0.42Head Grade Unit: g/tView all detailsHide details
Identity
- Project
- Florida Canyon Mine
- Commodity
- gold
- Ticker
- ITR
Test Work
- Program Status
- detailed
- Test Type
- operational data
- Processing Route
- heap leach
- Sample
- Crushed material
Recovery
- Recovery
- 63.3 %
- Recovery Basis
- actual_test
- Head Grade
- 0.42
- Head Grade Unit
- g/t
Location
- Loc. Confidence
- medium
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-25T00:00:00.000Z
Reasoning: The 63.3% recovery for crushed material is a strong result for heap leach gold, demonstrating the benefit of crushing for improved gold extraction.
Positive factors
- Recovery is strong for crushed heap leach material
Evidence · table
“63.3 %”
Context: LOM Average Gold Recovery (%)
Tags used in scoring
Heap Leach Routeneutral
Processing via heap leach — lower CAPEX and OPEX, lower recovery expected.
Why it applies: processing_route matches the heap_leach signal
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.