Integra Resources Corp. has announced the launch of an extensive exploration drilling program at the Wildcat Deposit in Nevada. The program, set to begin in June 2024, aims to explore and potentially expand the known oxide mineral resources and to investigate high-grade targets previously inaccessible due to permitting restrictions.
The Wildcat Deposit, part of the broader Nevada North Project, encompasses over 17,000 acres within the Farrell mining district, located approximately 35 miles north of Lovelock, Pershing County. This area is known for its gold-dominated, low-sulphidation epithermal vein systems. The upcoming Phase 1 exploration, covering around 2,000 meters of drilling, is designed to evaluate the oxide mineralization near existing resources and a high-grade breccia target believed to be a primary source of gold mineralization at Wildcat.
Currently, Wildcat houses a significant mineral resource, with over 746,000 ounces of gold and 6.4 million ounces of silver indicated, and additional inferred resources. The project's economic prospects were underscored by a 2023 Preliminary Economic Assessment (PEA), which demonstrated robust economics, including an after-tax Net Present Value (NPV) of US$310 million and an Internal Rate of Return (IRR) of 37%, based on conservative metal price assumptions.
The exploration program will focus on several key areas within the expanded mineral footprint identified in previous surveys. Notably, drilling will target the Breccia Pipe, which exhibits potential high-grade feeder veins, and additional areas identified through geophysical surveys that suggest further mineralization.
Jason Kosec, President, CEO and Director of Integra, expressed enthusiasm about the program, noting, "This drill program has the potential to significantly increase the near-surface oxide mineral resource, enhancing the future economics at Wildcat. Discovering the main feeder zone could be a game-changer for the project."
Integra's approach includes not only expanding the known resources but also conducting metallurgical and geotechnical testing to optimize processing strategies and improve economic outcomes. The results of this ambitious exploration could have significant implications for the geothermal drilling industry, particularly in areas like geotechnical testing and the development of new drilling techniques. By potentially increasing the economic viability of such projects, these advancements could lead to broader adoption and innovation in geothermal energy extraction, mirroring developments in the mining sector.
This initiative reflects a broader industry trend towards leveraging advanced geophysical techniques and strategic drilling to unlock value from underexplored assets, promising to enhance the capabilities and efficiency of geothermal drillers as they adapt similar technologies and methodologies.
