i-80 Gold's Granite Creek Project: A Glimpse into Nevada's Golden Future

i-80 Gold Corp. (TSX: IAU) (NYSE: IAUX) has recently announced a positive Preliminary Economic Assessment (PEA) for its Granite Creek Underground Project in Nevada, with an After-Tax NPV(5%) of $155 million at US$2,175/oz Au and an After-Tax NPV(5%) of $344 million at US$2,900/oz Au. This news has sparked interest in the project and the broader gold mining sector, as investors seek opportunities in a volatile market.



The Granite Creek Underground Project is situated at the intersection of the highly prolific Battle Mountain-Eureka and Getchell gold trends in northern Nevada, United States. The project hosts both high-grade open pit and underground mineral resources, with a mine-life of nine years, producing 1,245,900 ounces of gold with life-of-mine all-in sustaining costs of US$963.40 per ounce of gold. The study envisions a mine-life of nine years, producing 1,245,900 ounces of gold with life-of-mine all-in sustaining costs of US$963.40 per ounce of gold.

The project's economics are favorable, providing positive NPV values at varying gold prices, capital costs, and operating costs. For the open pit at Granite Creek, the study envisions the construction of a heap leach facility and a CIL plant on-site. For the fully permitted underground operation, trucking of mined material is assumed to be processed at an off-site, third-party processing facility. Future economic work will consider processing at the Lone Tree facility that was recently acquired from Nevada Gold Mines and located 43 miles (by road) to the south.

The Granite Creek PEA confirms the substantial economic opportunity that can be realized through the development of both open pit and underground mines on the property. The study contemplates constructing heap leach and CIL facilities on the property for the open pit and trucking refractory material for third-party processing. The recent acquisition of the Lone Tree site will allow for the optimization of these facilities as the project progresses to a feasibility study, potentially leading to changes in the ultimate processing plans versus what is presented in the study.



The Granite Creek Underground Project is one of four projects being advanced within i-80's portfolio, and the company has made significant progress advancing the project since it was acquired in April of 2021. A major surface and underground drill program (~20,000 metres) is underway, and the company is completing additional underground development and commencing test mining in advance of making a production decision for the underground mine.

In conclusion, the positive Preliminary Economic Assessment for the Granite Creek Underground Project highlights the potential of i-80 Gold Corp.'s portfolio and the broader gold mining sector in Nevada. As investors seek opportunities in a volatile market, the Granite Creek project offers an attractive option with its favorable economics, strategic location, and potential for optimization. However, as with any mining project, there are risks and uncertainties associated with the project's development and future performance. Investors should carefully consider these factors before making any investment decisions.