#United States #Nevada #i-80 Gold #Granite Creek

i-80 Gold Releases Positive Economic Assessment for Granite Creek Project

Introduction
In an exciting development for investors and stakeholders alike, i-80 Gold Corp. (TSX: IAU, NYSE: IAUX) has unveiled the results of a preliminary economic assessment (PEA) for its Granite Creek Underground project, situated in northern Nevada. Drawing from its strategic location at the intersection of prolific gold trends, the company asserts the potential for a transformative impact on its operations.

Key Highlights of the Assessment
The assessment indicates significant financial viability across several key metrics:

• - The after-tax net present value (NPV) at a gold price of $2,175 per ounce is estimated at $155 million, with a robust after-tax cash flow projection of $197 million.
• - Should gold prices reach $2,900 per ounce, these projections increase dramatically, forecasting an after-tax NPV of $344 million.
• - The project boasts a projected life span of approximately eight years, with annual production peaking at around 60,000 ounces of gold post production ramp-up.
• - Mineral estimates reveal a measured and indicated resource of 261,000 ounces at an average grade of 10.5 grams per tonne, with additional inferred resources boosting that figure to 326,000 ounces at 13.0 grams per tonne.

Geological and Mining Insights
Granite Creek Underground is positioned strategically close to the renowned Turquoise Ridge Complex, a joint venture currently housing roughly 20 million ounces of gold. The property has already produced approximately one million ounces since 1980. The mining strategy favors an underhand drift and fill method, optimizing for selective mining and reducing waste. This method is particularly suited to the site's geological conditions, enhancing recovery and safety for mining personnel.

The company plans to refurbish its Lone Tree autoclave facility by 2028, which is projected to dramatically improve the gold recovery rates from the current 78% to an estimated 92% as it switches to processing its own refractory materials. This upgrade is expected to boost both production and cash flows substantially.

Challenges and Solutions
Despite an ambitious ramp-up process initiated in 2023, the company faced hurdles, including groundwater ingress that impeded underground development. To address these challenges, a comprehensive hydrology study was completed, resulting in the installation of a water treatment facility poised to mitigate water-related issues. These improvements are set to lay the groundwork for an increased mining output in 2025.

Looking Ahead
The results from the PEA underscore i-80 Gold's strong commitment to enhancing its mining capabilities and realizing the full potential of the Granite Creek project. As mining progresses, an extensive drilling program is planned to aid resource growth and exploration, aiming to finalize updates for a feasibility study set for release in Q4 2025. The company is dedicated to ensuring its operations are aligned with best practices in mining efficiency and environmental stewardship.

Conclusion
The preliminary economic assessment of the Granite Creek Underground project showcases i-80 Gold's strategic positioning within a lucrative gold mining landscape. The robust projections alongside the commitment to resolving operational challenges pave the way for an exciting future for the company and its stakeholders. With continued investment in exploration and operational upgrades, the Granite Creek project stands as a testament to the potential for significant resource growth in the heart of Nevada’s gold country.