Integra Resources: Unlocking Nevada's Wildcat Potential in 2024

Integra Resources Corp. (TSXV: ITR; NYSE American: ITRG) is gearing up for an exciting exploration campaign at the Wildcat Deposit in Nevada, with a ~2,000 meter drill program set to commence in June 2024. This strategic move aims to expand the known oxide mineral resources and investigate high-grade targets previously inaccessible due to permitting restrictions. Let's delve into the potential of this project and what it means for Integra Resources.



Wildcat, part of the broader Nevada North Project, is a gold-dominated, low-sulphidation, epithermal vein system with disseminated oxide, transition, and non-oxide mineralization hosted in permeable volcanic and intrusive rocks. The upcoming drill program is designed to test the oxide mineralization adjacent to the existing mineral resource at Wildcat, while also testing the high-grade breccia target believed to be the feeder source of gold mineralization at Wildcat.



The 2023 Nevada North Preliminary Economic Assessment (PEA) demonstrated strong project economics, including an after-tax Net Present Value (NPV)5% of US$310 million (C$409 million) and a 37% after-tax Internal Rate of Return (IRR) using base case metal prices of US$1,700/oz Au and US$21.50/oz Ag.2 With recent metal prices of US$2,000/oz Au and US$23.00/oz Ag, the Nevada North Project delivers an after-tax NPV5% of US$490 million (C$647 million) and a ~54% after-tax IRR.2

The exploration program will focus on several key areas within the expanded mineral footprint, including the Crossroads, Breccia Pipe, and Rhyolitic Ridge targets. The 2,000 m Phase 1 exploration drill program will focus on achieving three main objectives: oxide resource expansion, testing the high-grade Breccia Pipe target at depth, and metallurgical and geotechnical testing.

A successful exploration of the Breccia Pipe target could significantly augment both the size of the mineral resource and potential future economics at Wildcat. The discovery of high-grade epithermal feeder veins could lead to increased gold mineralization, enhancing the project's economic viability. This could result in a higher after-tax NPV and IRR, making Wildcat an even more attractive mining operation.

In conclusion, Integra Resources' 2024 drill program at the Wildcat Deposit in Nevada holds great promise for expanding the known oxide mineral resources and potentially discovering high-grade feeder veins. With robust project economics already demonstrated by the 2023 PEA, a successful exploration campaign could further boost the project's value and contribute to Integra Resources' growth. As an investor, keeping an eye on Integra Resources and the Wildcat project could prove to be a lucrative decision.