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Integra Resources Overhauls Florida Canyon Mine to Boost Gold Output

Integra Resources has unveiled an updated feasibility study for its Florida Canyon Mine in Nevada, signaling a major operational turnaround. The plan boosts proven and probable mineral reserves by 74% and extends the mine’s active life through 2033, positioning the site to generate $0.8 billion in after-tax free cash flow.

Integra Resources Overhauls Florida Canyon Mine to Boost Gold Output
Photo: Bio & News

Less than two years after acquiring the asset for $68 million, the company has successfully expanded its resource base to 1.19 million ounces of gold. The new life-of-mine plan projects an average annual production of 82,000 ounces, a 17% increase over previous estimates. This transformation relies on $92 million in growth capital, specifically earmarked for expanding heap leach capacity and modernizing the legacy mining fleet with more efficient haul trucks.

While the company remains committed to its production targets of 70,000 to 75,000 ounces for 2026, it has adjusted its site-level all-in sustaining cost guidance to a range of $3,300 to $3,500 per ounce. Management attributes this short-term increase to aggressive pre-stripping campaigns in the Central pit and inflationary pressures on fuel and explosives. CEO George Salamis noted that these investments are foundational, intended to stabilize operations and lower unit costs over the remaining eight-year mine life. Beyond the current footprint, Integra has launched a 42,500-meter exploration program to test mineral potential in underexplored zones, aiming to further extend the project's longevity.

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