Name of the Project
Archimedes gold project.

Location
On the Ruby Hill property in Nevada, in the US.

Project Owner/s
Nevada-focused mining company i-80 Gold Corp.

Project Description
Archimedes is i-80 Gold’s second planned underground mine and forms part of the company’s three-phase growth strategy in Nevada. 

The project will initially focus on mining above the 5 100 ft elevation before expanding into deeper zones, and is expected to contribute to increasing i-80’s production from less than 50 000 oz/y to between 150 000 oz/y and 200 000 oz/y by 2028. 

The project has an initial estimated mine life of about ten years, with potential for extension through exploration of the lower zone, which remains open to the north and south. 

Development includes the construction of underground portals, a main haulage decline, ventilation raises, exploration bays and supporting infrastructure. Material mined at Archimedes is expected to be processed at a third-party autoclave facility starting in late 2026, and subsequently at the refurbished Lone Tree facility once it is commissioned in 2028.

Longer-term plans aim to raise output to 600 000 oz in the early 2030s. 

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
According to the preliminary economic assessment, Archimedes has an after-tax net present value of $644-million, at a 5% discount rate, and an internal rate of return of 81% based on a gold price of $3 000/oz.

Capital Expenditure
Mine construction capital is estimated at $47-million.

Planned Start/End Date
Construction of Archimedes started in September 2025. Initial production is expected to start in the fourth quarter of 2026, with underground development above the 5 100 ft elevation scheduled for completion by mid-2027. 

Latest Developments
The company has secured all required permits from the Nevada Division of Environmental Protection and the Bureau of Land Management, allowing for construction and underground development to start.

Surface infrastructure, including a maintenance shop, offices and utilities, has been completed. 

Company description Small Mine Development has been contracted to advance underground work, and mobilisation is under way. An accelerated infill drilling programme, involving more than 175 holes and about 60 000 m of core, is planned to support the feasibility study. Permitting for operations below the 5 100 ft elevation is in progress and is expected to conclude in the first half of 2027.

Key Contracts, Suppliers and Consultants
Small Mine Development (underground development).

Contact Details for Project Information
i-80 Gold Corp, tel +1 775 525 6450 or email info@i80gold.com.