Gold/silver project developer Integra Resources has appointed former Idaho Governor C.L. “Butch” Otter to its board of directors.

Otter, who is also a businessman, served as the thirty-second governor of Idaho from 2007 to 2019.

“The board is both excited and extremely honoured to welcome Butch to the Integra team,” chairperson Stephen De Jong said on Monday.

“Butch’s can-do attitude, along with his extensive knowledge of Idaho’s demographical landscape and proud dedication to serving Idahoans will be a fantastic addition to the board as we continue to advance the DeLamar project.”

The DeLamar gold/silver project is located in Owyhee county, near the ranching town Jordan Valley. The project consists of the two past-producing DeLamar and Florida Mountain mines, which shut down in the late 1990s owing to low precious metal prices at the time.

Last week, the company published the outcomes of a maiden preliminary economic assessment for the project, outlining average yearly production of 124 000 oz of gold-equivalent at an all-in sustaining cost of $742/oz on a gold-equivalent basis.

Over its ten-year life, the mine will deliver 1.03-million ounces of gold and 16.60-million ounces of silver.

The project has an upfront capital expenditure estimate of C$213-million, an estimated after-tax net present value, at a 5% discount, of C$472-million, and an after-tax internal rate of return of 43%.

“With the recently announced PEA under our belts, we are thrilled to have Butch in our corner as we march onwards towards development. Given the robust economics demonstrated in the PEA, DeLamar could become a beacon for economic growth in Owyhee and Malheur counties. Butch’s motto ‘let’s get to yes’ resonates strongly with what we are looking to achieve at DeLamar, and his addition to the team will be instrumental in navigating future steps at the project,” said president and CEO George Salamis.

Otter has been granted incentive stock options in conjunction with his appointment to the board, exercisable to purchase in aggregate up to 250 000 common shares in the capital of the company until September 16, 2024, at an exercise price of $1.31 a share.