i-80 Gold Corp. has released the results of a feasibility study for its Granite Creek underground gold project in northern Nevada. The project, located at the intersection of the Battle Mountain-Eureka and Getchell trends, is currently ramping up production and is expected to produce between 30,000 and 40,000 ounces of gold in 2026.
The study details an initial proven and probable mineral reserve of 2.20 million tonnes grading 7.87 grams per tonne of gold, containing 556,500 ounces. Measured and indicated mineral resources have increased by 229% to 3.73 million tonnes grading 7.17 g/t Au, containing 859,500 ounces. Inferred resources have decreased by 38% to 0.89 million tonnes grading 7.06 g/t Au, containing 202,800 ounces, as a portion was converted into higher-confidence categories.
Based on a base case gold price of $2,750 per ounce, the project is projected to have an after-tax net present value (5%) of $118 million and an after-tax cash flow of $153 million. The mine life is estimated to be approximately 8.5 years. Following the completion of the company’s Lone Tree Plant refurbishment, annual gold production is expected to average approximately 75,000 ounces from 2028 to 2032. Estimated cash costs for this steady-state period are $1,827 per ounce, and all-in-sustaining costs are $1,915 per ounce.
The company also reported initial assay results from the Mineral Point Open Pit project in Nevada, including a step-out hole that returned 1.33 g/t Au and 39.2 g/t Ag over 225.6 meters.
