Integra Resources expands DeLamar project footprint in Idaho 

Integra Resources (TSXV: ITR; NYSE American: ITRG) announced Tuesday it has acquired a strategically located 6,600-acre ranch contiguous with the company’s DeLamar project in Owyhee County, Idaho for $12.5 million. 

The Ranch acquisition supports the company’s strategy for de-risked and efficient project advancement by consolidating land ownership surrounding key infrastructure at DeLamar, while concurrently securing significant permitting, environmental, operational, and community-alignment benefits, Integra said.

The DeLamar project is about 100 km from the capital of Boise, and it includes the historic DeLamar gold mine and the Florida Mountain gold-silver deposit. The mine was previously owned by Kinross, which Integra acquired in 2017, with all existing infrastructure in place. 

The Ranch property contains 6,600 deeded acres, along with a large U.S. Bureau of Land Management (BLM) grazing permit and two Idaho State grazing leases. 

The land consolidation extinguishes underlying easements and access agreements, eliminating associated payment obligations and secures prime mitigation habitat in close proximity to the project, the company said.  

“This acquisition represents a significant land consolidation for Integra and the DeLamar project,” Integra CEO George Salamis said in a news release. “Beyond the acreage itself, the transaction advances our long-term strategic objectives by enhancing our ability to responsibly develop DeLamar in alignment with the local ranching community, while further de-risking the project through increased operational flexibility and expanded mitigation options.  

“After many years of collaborating with the ranching community to help shape our future operations, we are proud to now be joining that community through an acquisition that underscores our long-term commitment to the land and the people of the region,” Salamis said.  

By market close in Toronto on Tuesday, Integra’s stock was down 4.7%. The company has a C$852 million ($624m) market capitalization.