Integra Gold Corp relaunched as exploration company under new ownership

Canadian mining junior Integra Gold Corp will be relaunched as a new precious metals exploration company under the name Integra Resources Corp, after it was acquired last month.

Integra was bought by fellow Canadian miner Eldorado Gold (TSX:ELD) in July for C$590 million, but three former executives of Integra have retained their roles and been crucial in the formation of the spin-off.

CEO George Salamis said the new entity plans to buy an advanced stage gold-silver project in Canada or the US within the next two months before applying to list on the TSX Venture Exchange.

In the last four years, Integra increased its market value from $25 million to almost $600 million by expanding the gold resource at its Lamaque project in Quebec through several successful drilling programmes.

Integra Resources will be headquartered in Vancouver, assuming a similar shape to its former self, with previous CEO Stephen de Jong taking the role of chairman and Andrée St-Germain maintaining his position as chief financial operator.