Integra Resources: High-Grade Surprise Strengthens Investment Thesis

• Integra Resources released one of the top-50 drill results of 2020 in the junior sector with 85.4 meters of 7.91 grams per tonne gold-equivalent.
• This incredible intercept from Florida Mountain suggests that the deposit could grow in both size and grade, pointing to a 1.8 million-ounce target here long term.
• Based on a high likelihood that Florida Mountain can grow further and two significant catalysts this year, I would expect an upside re-rating before year-end.
• Given Integra's significant resource and solid economics in a top-10 mining jurisdiction, I continue to see the stock as a top takeover target in the mining space.