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Study values Integra Resources' DeLamar gold-silver project at C$472M

A preliminary economic assessment on Integra Resources Corp.'s DeLamar gold-silver project in Idaho defined an after-tax net present value of C$472 million, discounted at 5%, with a 43% internal rate of return and a 2.4-year payback period.

The company said Sept. 9 that it plans to start work on a pre-feasibility study within a few months, with completion anticipated by the second half of 2021.

Initial capital expenditure was estimated at C$213 million, with the assessment assuming a gold price of US$1,350/oz and a silver price of US$16.90/oz.

The 10-year open-pit operation is expected to produce 123,902 gold equivalent ounces per year, comprising 103,118 ounces of gold and 1.7 million ounces of silver. All-in sustaining costs were estimated at US$742 per ounce of gold equivalent on a co-product basis.

Free cash flow was pegged at C$81 million per year, once DeLamar goes into production.

In August, Integra Resources increased an offering of special warrants to about C$12 million, after initially targeting C$8 million.