# 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 Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/florida-canyon-feasibility-study-delivers-substantial-increase-in-mineral-reserv--a56c1d33-7467-4d01-b735-59bdeae15188 Original source: https://money.tmx.com/en/quote/ITR/news/6116012256544573/florida-canyon-feasibility-study-delivers-substantial-increase-in-mineral-reserv Publisher: tmx Original announcement: 2026-06-25T10:20:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - 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 Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas 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 factor: Substantial increase in Proven and Probable Mineral Reserves - Positive factor: Extended mine life to 8 years - Positive factor: Increased annual gold production by 17% - Positive factor: Robust project economics with $0.8B after-tax free cash flow - Positive factor: QP/CP sign-off for resource and reserve estimates - Positive factor: NI 43-101 compliant study - Positive factor: Cut-off grades disclosed for resource and reserve - Positive factor: Contained metal growth of 506 Koz Au in P&P reserves - Negative factor: Significant portion of total resource remains in Inferred category - Negative factor: 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 Reserve** Polarity: positive Definition: 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 Upgrade** Polarity: positive Definition: 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 Growth** Polarity: positive Definition: 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 Signed** Polarity: positive Definition: 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 Disclosed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: 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 Resource** Polarity: negative Definition: 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 Update** Polarity: neutral Definition: 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-Supporting** Polarity: neutral Definition: 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 Recovery** Polarity: negative Definition: 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 Route** Polarity: neutral Definition: 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 Tested** Polarity: positive Definition: 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) ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/florida-canyon-feasibility-study-delivers-substantial-increase-in-mineral-reserv--a56c1d33-7467-4d01-b735-59bdeae15188#fact-resource-facts-0) Florida Canyon Mine · gold #### 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 factor: Large indicated oxide resource - Positive factor: Part of an updated Feasibility Study Evidence · table > 171,842 Context: Indicated Tonnes \(kt\) #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/florida-canyon-feasibility-study-delivers-substantial-increase-in-mineral-reserv--a56c1d33-7467-4d01-b735-59bdeae15188#fact-resource-facts-1) Florida Canyon Mine · gold #### 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 factor: Adds to overall resource base - Negative factor: Inferred category has lower confidence Evidence · table > 53,312 Context: Inferred Tonnes \(kt\) #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/florida-canyon-feasibility-study-delivers-substantial-increase-in-mineral-reserv--a56c1d33-7467-4d01-b735-59bdeae15188#fact-resource-facts-2) Florida Canyon Mine · gold #### 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 factor: Large inferred sulphide resource with good grade - Positive factor: Significant future potential - Negative factor: Inferred category has lower confidence Evidence · table > 104,004 Context: Inferred Tonnes \(kt\) #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/florida-canyon-feasibility-study-delivers-substantial-increase-in-mineral-reserv--a56c1d33-7467-4d01-b735-59bdeae15188#fact-resource-facts-3) Standard Mine · gold #### 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 factor: Adds to overall resource base from a new area - Negative factor: Inferred category has lower confidence Evidence · table > 8,532 Context: Inferred Tonnes \(kt\) #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/florida-canyon-feasibility-study-delivers-substantial-increase-in-mineral-reserv--a56c1d33-7467-4d01-b735-59bdeae15188#fact-resource-facts-4) Standard Mine · gold #### 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 factor: High grade for a small inferred resource - Negative factor: Very small tonnage - Negative factor: Inferred category has lower confidence Evidence · table > 30 Context: Inferred Tonnes \(kt\) #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/florida-canyon-feasibility-study-delivers-substantial-increase-in-mineral-reserv--a56c1d33-7467-4d01-b735-59bdeae15188#fact-resource-facts-5) Florida Canyon Mine · gold #### 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 factor: Substantial increase in Probable Reserves - Positive factor: Forms the basis of the Feasibility Study - Positive factor: Significant contained gold Evidence · table > 118,471 Context: Probable Tonnes \(kt\) #### Tags used in scoring **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **Contained Metal Growth** Polarity: positive Definition: 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 data [Link to this fact](https://atlas-extractions.minestarters.com/news/florida-canyon-feasibility-study-delivers-substantial-increase-in-mineral-reserv--a56c1d33-7467-4d01-b735-59bdeae15188#fact-metallurgical-facts-6) Florida Canyon Mine · gold #### 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 factor: Represents LOM average operational recovery - Negative factor: Recovery is moderate-to-weak for heap leach gold Evidence · table > 56.7 % Context: LOM Average Gold Recovery \(%\) #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal ### operational data [Link to this fact](https://atlas-extractions.minestarters.com/news/florida-canyon-feasibility-study-delivers-substantial-increase-in-mineral-reserv--a56c1d33-7467-4d01-b735-59bdeae15188#fact-metallurgical-facts-7) Florida Canyon Mine · gold #### 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 factor: Recovery is weak for heap leach gold Evidence · table > 44.8 % Context: LOM Average Gold Recovery \(%\) #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: Processing via heap leach — lower CAPEX and OPEX, lower recovery expected. Why it applies: processing\_route matches the heap\_leach signal **Low Recovery** Polarity: negative Definition: Recovery below the weak band for the commodity and processing route. Why it applies: 44.8% is below the weak band \(45%\) ### operational data [Link to this fact](https://atlas-extractions.minestarters.com/news/florida-canyon-feasibility-study-delivers-substantial-increase-in-mineral-reserv--a56c1d33-7467-4d01-b735-59bdeae15188#fact-metallurgical-facts-8) Florida Canyon Mine · gold #### 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 factor: Recovery is strong for crushed heap leach material Evidence · table > 63.3 % Context: LOM Average Gold Recovery \(%\) #### Tags used in scoring **Heap Leach Route** Polarity: neutral Definition: 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.