Integra Resources Corp‘s (NYSEAMERICAN: ITRG) (CVE: ITR) (FRA: IRV) latest feasibility study for its Florida Canyon operation in Nevada delivered a substantial boost to reserves and projected output, yet its shares barely moved in response. Investors appeared cautious due to higher near-term costs in 2026, despite the stronger long-term outlook.
Integra announced Jun. 25 that it has increased proven and probable reserves at Florida Canyon by 74 per cent to 1.19 million ounces of gold. The updated plan forecasts average annual production of around 82,000 ounces over an eight-year operating mine life through 2033 — a 17 per cent rise. This will be followed by two years of residual leaching.
Total payable gold production will reach approximately 685,000 ounces, according to the updated feasibility study, with a projection of roughly US$800 million in after-tax free cash flow.
This update builds directly on recent progress in the state. First-quarter results showed record mining rates despite some temporary production delays. Integra also launched its largest drill programme to date — a 50,000-metre effort aimed at resource growth, mine-life extension and engineering improvements across Florida Canyon, DeLamar (Idaho) and Nevada North. In April, regulators approved an exploration plan of operations for the Wildcat deposit at the company’s nearby Nevada North project.
Despite the flat share price reaction last week, H.C. Wainwright just reiterated a Buy rating and US$6.75 price target for Integra — more than twice as high as the current stock price. Online investor sentiment about this financial firm is mixed though.
Read more: NevGold Corp. reports antimony grades up to 53.7 per cent at Nevada project
Advancing the portfolio
Integra continues work at its DeLamar project in Idaho as well. A feasibility study completed in December outlined a heap-leach development plan with attractive economics and reduced risk. Together, the Florida Canyon reserve expansion and the DeLamar mine plan position Integra to generate cash from current operations while advancing DeLamar through permitting. A federal environmental impact statement and record of decision is expected for DeLamar in the second half of 2027.
Overall, the company holds a solid operational and financial position supported by high gold pricing. Florida Canyon produces gold and funds internal growth. Recent equity financing has strengthened the precious metal miner’s balance sheet as the company operates in a mining-friendly jurisdiction.
Florida Canyon has a long history. Commercial mining began there in 1986 using open-pit and heap-leach methods. Production continued with interruptions until Integra acquired the asset in 2024 and focused on operational improvements, exploration and plans to transform it into a longer-life operation.
Nevada peers eye production
Certain junior developers in Nevada are preparing assets to join producing sites like Florida Canyon.
NevGold Corp (CVE: NAU) (OTCMKTS: NAUFF) (FRA: 5E50) is advancing its Limo Butte gold-antimony project in White Pine County, a brownfield site with considerable near-term potential. Paramount Gold Nevada Corp (NYSEAMERICAN: PZG) (FRA: P9G) also continues to progress its past-producing Sleeper Gold project in Humboldt County. A recent initial assessment outlined a potential restart with open-pit mining and heap leaching, projecting more than one million ounces of gold production over a 17-year lifespan.
Additionally, Roxmore Resources Inc (TSE: RM) (OTCMKTS: GARLF) (FRA: S3Q) advances its Converse Gold Project, where a positive preliminary economic assessment supports further steps toward a potential heap-leach operation.
These projects add to the pipeline of assets moving toward production decisions amid supportive gold prices and strong mining infrastructure in Nevada.
Read more: NevGold launches 20,000-metre drill campaign at Nevada antimony-gold project
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