Integra Announces Simplified Strategy - 2022 Strategy: Advance permitting and development of the simple, low-cost heap leach stage as a stand-alone mine project capable of producing an average of 136,000 ozs per year of gold equivalent (“AuEq”) based on figures from the Company’s recently announced Pre-feasibility Study (“PFS”)
- Exploration Program Targeting Heap Leach Resource Expansion Initiated: Aimed at extending the heap leach mine life through near surface exploration
- Lower Project Financing Risk: Heap leach only mine reduces capital by ~US$235M over the mine life, a reduction of 40%, reduces site level all-in sustaining cost (“AISC”) per ounce by 15% and will likely lead to additional project financing options given shortened payback period and higher margins
- Heap leach site level AISC: US$814/oz AuEq which generates average after-tax annual free-cash flow of US$101 million over first 7 years
- Lower Permitting Risk: Heap leach only scenario significantly reduces surface area disturbance and lowers water and power usage, among other benefits
- Lower Development Risk: Development risk of a heap leach mine is expected to be lower than other processing options
- Mill Optionality Preserved: Non-oxide milling expansion, though not pursued in this year’s permitting and development, will continue to be optimized through further study work and can be pursued under the right market conditions.
VANCOUVER, British Columbia, April 21, 2022 (GLOBE NEWSWIRE) -- Integra Resources Corp. (“Integra” or the “Company”) (TSX-V: ITR; NYSE American: ITRG) is pleased to announce an exploration program to expand the Oxide and Mixed resource at its DeLamar Project while advancing the heap leach stage of the project into permitting and development on a stand-alone basis. The simple, low-cost, low-risk strategy to focus on the financial engine of the Project, the heap leach, does not negate the strong optionality of the project in multiple areas. Exploration efforts going forward will target heap leachable material to expand the heap leach life-of-mine.
Integra Announces Simplified Strategy to Advance Permitting and Development of Gold-Silver Heap Leaching, Substantially Reducing Capital Requirements and Operating Costs, Initiates Exploration to Expand Heap Leachable Resource at Delamar Project