Vancouver-headquartered Integra Resources has exercised an option to acquire 17 unpatented claims in the Rich Gulch area, which will provide the company with operational flexibility for future mining and processing scenarios at its DeLamar mine.
The Rich Gulch claims are located adjacent to the Florida Mountain deposit at DeLamar, in southwestern Idaho.
“The acquisition of the Rich Gulch claims represents a small, but strategic transaction for Integra,” explains Integra CEO and director Jason Kosec.
In the upcoming feasibility study, a development rock storage facility will be located at Rich Gulch to accommodate mining activities at the adjacent Florida Mountain deposit and Jacobs Gulch stockpile.
“Work on an updated mine plan, which includes the use of the Rich Gulch area, is under way and will form the basis of a future feasibility study at DeLamar,” he says.
The company continues to advance DeLamar through the National Environmental Policy Act permitting process following the submission of the draft mine plan of operations to the Bureau of Land Management in December 2023.
“DeLamar is one of the few development projects in the Western United States being advanced towards a construction decision."
Under the terms of an option agreement, DMC will acquire all the interests in Rich Gulch in exchange for $2.1-million. The purchase price is to be satisfied through the issuance of common shares in the capital of the company, based on the five-day volume weighted average price of the shares preceding the closing date of the acquisition.