Integra Resources Advances DeLamar Project with Favorable Feasibility Study

Event summary

  • Integra Resources Corp. has filed a Feasibility Study Technical Report for its DeLamar Gold and Silver Heap Leach Project, dated February 2, 2026, with an effective date of December 8, 2025.
  • The study projects 1.1 million ounces of gold equivalent production over a 10-year mine life, averaging 106,000 ounces AuEq per annum.
  • The Feasibility Study estimates an after-tax NPV5% of $774 million and an IRR of 46% based on $3,000/oz gold and $35/oz silver prices.
  • The project’s economics improve to an after-tax NPV5% of $1.9 billion and an IRR of 97% using recent gold and silver prices of $4,500/oz and $65/oz, respectively.

The big picture

Integra's DeLamar project represents a significant development in the Great Basin mining landscape, demonstrating the potential for large-scale, low-cost heap leach operations. The project's economics are attractive, but heavily reliant on favorable commodity prices. The release underscores the ongoing trend of companies seeking to unlock value from past-producing assets through modern mining techniques and disciplined capital allocation.

What we're watching

Price Sensitivity
The project's profitability is highly sensitive to gold and silver price fluctuations, making Integra vulnerable to commodity market volatility and requiring careful hedging strategies.
Execution Risk
Successfully transitioning from a feasibility study to operational production will require Integra to execute on its mining plan, manage costs effectively, and secure necessary permits, all of which carry inherent risks.
Capital Needs
While the study outlines robust economics, the project will require significant capital investment, and Integra’s ability to secure this funding will be a key determinant of its success.

Related topics

Mining Gold Silver