- Florida Canyon produced 16,379 ounces of gold in Q2 2026, up 30 per cent from Q1, driven by record mining activity and higher ore placement on heap leach pads
- Ore mined increased 47 per cent and ore stacked on leach pads rose 45 per cent, supporting expectations for stronger gold production in the second half of 2026
- Integra (TSXV:ITR) maintained its 2026 production guidance of 70,000 to 75,000 ounces of gold and ended the quarter with US$111.1 million in cash and cash equivalents
- Integra Resources stock (TSXV:ITR) opened trading at C$3.01
Integra Resources (TSXV: ITR) reported a significant increase in gold production from its Florida Canyon Mine during the second quarter of 2026, supported by record mining activity and higher ore placement on heap leach pads.
The company produced 16,379 ounces of gold during the quarter ended June 30, representing a 30 per cent increase compared with the first quarter of 2026. Year-to-date gold production totalled 29,014 ounces.
Integra said the production increase was driven by higher mining rates, improved ore grades, and continued execution of its ore blending strategy. The company remains on track to meet its previously issued full-year 2026 production guidance of 70,000 to 75,000 ounces of gold, with management expecting output to increase further during the second half of the year.
This article is a journalistic opinion piece that has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
Record mining activity supports growth
Florida Canyon achieved record material movement during the quarter, with approximately 8 million tonnes mined in total. The operation mined 4.4 million tonnes of ore and 3.6 million tonnes of waste, resulting in a strip ratio of 0.81. Average mining rates reached approximately 87,867 tonnes per day, marking a record level for the mine.
Compared with the first quarter, several key operating metrics showed notable improvement:
- Gold production increased 30 per cent
- Total tonnes mined rose 16 per cent
- Ore mined increased 47 per cent
- Ore placed on heap leach pads increased 45 per cent
- Processed ore grade improved 21 per cent
- Strip ratio declined 38 per cent
- Waste mined decreased 8 per cent
According to the company, the stronger mining performance reflects the successful integration of additional mining equipment into the fleet over the past two quarters, as well as shorter haul distances within the operation.
Production expected to accelerate
Integra stated that the N2 ore blending strategy introduced during the first quarter continues to perform as expected, with the blended material leaching according to plan.
The company also noted that ore stacking rates on heap leach pads exceeded expectations in July following the end of the quarter. Combined with higher mining rates and increased ore placement, management believes these factors position Florida Canyon for stronger gold production in both the third and fourth quarters.
As a result, Integra reiterated its annual production forecast, signalling confidence that second-half production growth will support achievement of its full-year targets.
Updated mine plan highlights long-term potential
During the quarter, Integra released an updated feasibility study and life-of-mine plan for Florida Canyon. The technical report outlined what the company described as a materially enhanced operation featuring:
- An eight-year mine life
- A 74 per cent increase in Proven and Probable Mineral Reserves
- A 17 per cent increase in annual gold production
- Approximately US$800 million in after-tax free cash flow
The updated study underscores Florida Canyon’s importance as the company’s primary producing asset and highlights the potential for improved long-term economics as mining activities continue to expand.
Strong liquidity position
Integra reported a solid balance sheet at the end of the second quarter. As of June 30, 2026, the company held US$111.1 million in cash and cash equivalents.
The cash position provides financial flexibility as the company continues investing in operational improvements at Florida Canyon while advancing its broader portfolio of assets.
Leadership commentary
Florida Canyon continued to build operational momentum during the second quarter, with gold production increasing 30 per cent from the first quarter and both total material moved and ore placed on the heap leach pads reaching record levels. Approximately 4.2 million tonnes of ore were placed on the heap leach pads during the quarter, a 45 per cent increase over the first quarter, creating a large inventory of recoverable gold ounces that is expected to support stronger gold production through the balance of this year,” Integra’s president and CEO, George Salamis, said in a news release. “Beyond 2026, work is underway for the long-term transformation of Florida Canyon. As outlined in the June 2026 Technical Report news release, beginning in 2027 the company expects higher annual gold production, lower operating costs, and stronger cash flow from an 8-year mine life, creating a stable operation to support the continued advancement of the DeLamar and Nevada North Projects.”
Investor’s corner
Integra’s second-quarter update points to improving operational momentum at Florida Canyon. Record mining rates, higher ore movement, and increased heap leach stacking contributed to a substantial quarter-over-quarter rise in gold production. While first-half production remains weighted toward the lower end of the company’s annual target, management expects stronger production in the second half of 2026 and has maintained full-year guidance. Investors will likely focus on the mine’s ability to convert the higher ore placement rates into sustained production growth over the coming quarters.
Integra Resources Corp. is a precious metals producer that engages in the exploration and development of mineral properties in the Great Basin of the Western United States. It explores for gold and silver deposits.
Integra Resources stock (TSXV:ITR) opened trading 3 per cent higher at C$3.01 and has lost 44 per cent since the year began, but is still up 45 per cent compared to this time last year.
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