i-80 Gold Releases Promising Economic Assessment for Cove Project in Nevada

Introduction
In a significant development for investors and stakeholders, i-80 Gold Corp has announced the findings of an updated preliminary economic assessment (PEA) for its Cove Project in Nevada. This advanced underground exploration initiative is strategically located along the Battle Mountain-Eureka Trend, a region known for its rich mineral deposits. The updated assessment, named the 2025 PEA, brings optimistic projections regarding the project's economics, positioning it as a vital part of i-80 Gold's broader mining strategy.

Summary of the 2025 PEA

The PEA highlights the potential of the Cove Project not just as a profitable venture, but as a component of a cohesive mining and processing strategy within the company's operations. Noteworthy metrics include an after-tax net present value (NPV) of $271 million and an internal rate of return (IRR) of 30%, based on a projected gold price of $2,175 per ounce. Furthermore, should gold prices rise to $2,900 per ounce, the projected cash flows soar to $582 million with a substantial IRR of 52%. These figures underscore the Cove Project's promising economic viability for the foreseeable future.

Operational Highlights

The Cove Project is anticipated to feature an approximate mine life of eight years with a targeted average annual gold production of around 100,000 ounces post ramp-up. The estimated cash costs stand at $1,194 per ounce, while the all-in sustaining costs (AISC) are projected at $1,303 per ounce, both reflective of current market conditions.

The ore grades are also encouraging, with the latest estimates revealing an indicated gold mineral resource of 311,000 ounces at 8.2 grams per tonne, alongside an inferred resource totaling 1.16 million ounces at 8.9 grams per tonne. These positive figures reflect more refined mining processes and updated analytics since the previous assessment in 2021.

Mining Methods and Processing Techniques

The mining operations will utilize a blend of cut-and-fill and bench-and-fill methods, ensuring efficiency and safety in the extraction processes. Additionally, i-80 Gold plans to process a significant portion (nearly 60%) of the mined material at its own Lone Tree autoclave facility, while the remaining will be handled by an established third-party roasting facility, optimizing resource use and recovery rates.

Investment Considerations and Future Directions

These promising figures come at a turning point for i-80 Gold as they begin a transition into a mid-tier gold producer, bolstered by their high-grade Nevada assets. The company has indicated plans for further assessments of other properties, including Granite Creek and the Ruby Hill Complex, to enhance their portfolio even further.

Conclusion

Through the updated 2025 PEA, i-80 Gold is not just asserting the Cove Project's significance but is also setting a benchmark for what could become a cornerstone of its regional mining approach. With a strong foundation of technical studies and geological data, along with strategic cost management, i-80 Gold appears well-positioned to embark on this next phase of development. The Cove Project represents a considerable opportunity for stakeholders as the company moves forward into a promising phase of resource extraction and economic growth.

About i-80 Gold Corp

i-80 Gold Corp is dedicated to advancing exploration and development projects in the state of Nevada, making it a key player in the North American gold mining landscape. With a focus on sustainable practices and innovative mining techniques, the company aims to maximize returns while adhering to environmental responsibilities.