#USA #Nevada #i-80 Gold #Mineral Reserves #Granite Creek

i-80 Gold Corp Unveils Successful Feasibility Study for Granite Creek Project

i-80 Gold Corp. has recently announced the completion of a feasibility study for its Granite Creek underground gold project, illustrating a robust economic outlook and significant mineral reserves that position the company well for future growth. The Granite Creek Underground project is strategically located in northern Nevada, an area renowned for its rich gold deposits and mining activity.

Project Overview

The feasibility study reveals that the Granite Creek Underground project possesses initial proven and probable mineral reserves quantified at 2.20 million tonnes, featuring an impressive grade of 7.87 grams per tonne (g/t) gold, which translates to approximately 556,500 ounces of gold. This reservoir is expected to support a mine life of about 8.5 years, with anticipated annual gold production ranging between 30,000 to 40,000 ounces in 2026 and projected production ramping considerably thereafter.

Richard Young, President and CEO of i-80 Gold, emphasized the project's economic strengths, which reflect a substantial increase in the mineral resource base and extended mining life compared to previous assessments. Despite facing mining depletions over the past year, continued successful drilling programs have led to the delineation of extensive mineralized zones and increased confidence in resource continuity, prompting expectations for future reserve growth.

Economic Highlights

At current gold price assumptions of $2,750 per ounce, the after-tax net present value (NPV) of the project stands at $118 million, with projected total undiscounted cash flow reaching $153 million. Furthermore, sensitivity analyses suggest that should gold prices soar to $4,500 per ounce, the NPV could escalate to $598 million, illustrating the project's leverage relative to gold market fluctuations.

Production and Cost Insights

For the period from 2028 to 2032, the feasibility study projects an annual gold production of around 75,000 ounces, an increase of approximately 15,000 ounces per year from earlier assessments. The estimated cash costs per ounce during this period are projected at $1,827, with all-in sustaining costs (AISC) approximating $1,915 per ounce, showcasing the project's competitive metrics.

Lower sustaining capital costs are anticipated, characterized by a $83 million projection, compared to previous estimates. This decrease reflects improved efficiencies achieved through an optimized processing strategy, complementing the project's robust infrastructure and operational plans.

Exploration and Future Prospects

Looking ahead, i-80 Gold intends to expand its exploration endeavors, with ongoing drilling programs planned for 2026 aimed at further defining and developing reserves in known mineral zones. Notably, the high-grade CX Zone, located near the existing infrastructure, is identified as a target for future exploration campaigns that promise to enhance the project's overall gold resource footprint.

Overall, the Granite Creek Underground project, with its strategic location, solid mineral reserves, and favorable economic outlook presents a unique opportunity for i-80 Gold Corp as it seeks to establish itself as a prominent mid-tier gold producer in Nevada.

Conclusion

The successful completion of the feasibility study is a significant milestone for i-80 Gold Corp. It underscores the company's potential for sustainable growth and profitability in the competitive gold mining landscape. The Granite Creek Underground project stands to not only enhance the company’s production capabilities but also contribute positively to the regional economy through job creation and increased industrial activity.