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Integra Resources Files Maiden Preliminary Economic Assessment Technical Report for Wildcat & Mountain View Projects
VANCOUVER, British Columbia, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Integra Resources Corp. (“Integra” or the “Company”) (TSXV: ITR; NYSE American: ITRG) is pleased
About this update from Integra Resources Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 14, 2023 (GLOBE NEWSWIRE) -- Integra Resources Corp. (“Integra” or the “Company”) (TSXV: ITR; NYSE American: ITRG) is pleased to announce the filing of an independent Preliminary Economic Assessment (“PEA”) technical report for the Wildcat Project (“Wildcat”) and Mountain View Project (“Mountain View”) (together, “Wildcat & Mountain View”) located in western Nevada. The PEA demonstrates the potential for a low-cost, high-margin, heap leach gold-silver operation with a phased development and production strategy and robust economics. The average annual production of Wildcat & Mountain View and the DeLamar Project on a combined basis is expected to exceed 200kozs of gold equivalent (“AuEq”), demonstrating one of the largest heap leach production profiles among precious metal developers in the Great Basin.Wildcat & Mountain View PEA Highlights: After-tax NPV(5%) of US$309.6 million (“M”) (C$408.6M1) and 36.9% after-tax IRR using base case metal prices of US$1,700/oz gold (“Au”) and US$21.50/oz silver (“Ag”) After-tax NPV(5%) of US$442.1M (C$583.6M1) and 49.7% after-tax IRR using spot metal prices on June 27, 2023 (announcement date) of US$1,920/oz Au and US$22.00/oz Ag Wildcat & Mountain View generate combined annual production of ~94koz AuEq from year 1-5 with average annual production of 80koz AuEq over the 13 year Life-of-Mine (“LOM”) LOM payable metals from Wildcat & Mountain View of 1,043koz AuEq LOM site level cash costs of US$882/oz AuEq on a co-product basis; LOM site level all-in sustaining cash costs (“AISC”) of US$973/oz AuEq on a co-product basis Year -1 initial capex of US$115M to begin operations at Wildcat Average Au Recovery of 71.4% at Wildcat and 77.1% at Mountain View Low combined LOM strip ratio of 1.21 (Wildcat standalone strip ratio of 0.28) LOM total net free cash flow generated of US$485M with average net annual free cash flow of US$46M from year 1-13 Updated mineral resource estimate at Wildcat & Mountain View demonstrates growth of +23% and +49% respectively compared to the previous mineral resource estimates dated November 2020: 2021-2022 drilling at Wildcat & Mountain View allowed the Company to convert the majority of the previous resource estimate from the Inferred (“Inf.”) category to the Indicated (“M&I”) category Wildcat Project: 746k...