Integra Resources (ITR.V, ITRG) has announced results from its 2025 growth-focused drill program on the Florida Canyon gold mine in Nevada. This 16,000 meter drill program is the first phase of a multi-year exploration strategy focusing on expanding the resources and reserves at the mine, allowing the company to extend the mine life. This year’s drill program consists of a combination of sonic drilling and reverse circulation drilling, focusing on three separate key areas.
While drilling the low-grade waste was interesting with 70% of the drill intervals exceeding grades of 0.11 g/t which is used as a cutoff grade for the current operations. The company has now put forward an exploration target of 34-56 million tonnes of waste at an average grade of 0.11-0.25 g/t that could potentially be processed. Expressed in ounces, that’s a target of 120,000-450,000 ounces. A wide range, and additional drilling should provide more clarity (and grade should be more important than tonnage, although the current gold price is of course very forgiving).
Another portion of the drill program is focusing on expanding the resources between the existing open pits (both active and historical). These areas haven’t seen a lot of drilling in the past, and Integra’s drill program has encountered some nicely mineralized holes with for instance 76 meters of 0.48 g/t gold and 76 meters of 0.81 g/t gold, although only 16% of the Radio Tower pit intervals and only 29% of the other inter-pit areas exceeded the currently used cutoff grade.
The drill program is still ongoing (13,000 of the 16,000 meters have now been completed), and this should result in an updated resource and reserve calculation which will be released in the first half of 2026.
Disclosure: The author has a long position in Integra Resources. Integra is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
