Name of the Project
Archimedes underground project.

Location
In i-80 Gold Corp’s broader Ruby Hill Complex, at the southeastern end of the Battle Mountain-Eureka trend in northeastern Nevada, US.

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

Project Description
A preliminary economic assessment (PEA) has confirmed that Archimedes has the potential to become a key component of i-80’s regional hub-and-spoke mining and processing strategy. 

The PEA outlines an initial ten-year mine life, with average gold production of about 100 000 oz a year following ramp-up. Underground access will be through twin portals in the north wall of the Archimedes pit, adjacent to the pit haulage ramp. 

The main decline will provide personnel and equipment access for all areas of the mine and will be wide enough to accommodate 30 t haul trucks. Longhole open stoping (LHOS) with delayed backfill is the primary mining method planned for Ruby Hill. Drift-and-fill mining will be used where the mineralisation geometry lacks sufficient vertical extent for LHOS, for sill mining or where ground conditions cannot maintain vertical stope walls. Underhand drift-and-fill mining is preferred, as the backfill quality will be superior to the surrounding rock quality.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Based on a $2 175/oz gold price, the project has a pretax net present value of $126.8-million using a 5% discount rate, and an internal rate of return of 23%.

Capital Expenditure
Mine construction capital is estimated at $49-million.

Planned Start/End Date
Construction is expected to start in early Q2 2025.

Latest Developments
The phased permitting process is under way, allowing for simultaneous mining while permitting for the next phase progresses.

The initial phase covers mining activities above the 1 500 m elevation, consistent with previously approved permits for openpit mining at Ruby Hill.

This phase is nearing completion, and once finalised, will allow for mining to continue through June 2027. The second phase of permitting, covering mining below the 1 500 m elevation, will begin immediately upon receipt of the first phase of permits. This phase is scheduled for completion by the end of the second quarter of 2027, ensuring uninterrupted mining at the project.

Key Contracts, Suppliers and Consultants
Not disclosed.

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