i-80 Gold Starts Construction at Archimedes Project in Northern Nevada.

i-80 Gold Corp has received permits and commenced construction at its Archimedes project in Nevada, US. The project is part of the company's three-phase development plan. The environmental permits allow for underground mining activities to proceed on the Ruby Hill property. The company aims to leverage its existing infrastructure to minimize costs and maximize efficiency.

Title: i-80 Gold Corp Commences Construction at Archimedes Project in Nevada

i-80 Gold Corp (TSX: IAU) (NYSE American: IAUX) has received all necessary permits and initiated construction at its Archimedes project in Nevada, marking a significant milestone in its three-phase development plan. The environmental permits, secured from the Nevada Division of Environmental Protection and the Bureau of Land Management, allow for the commencement of underground mining activities on the Ruby Hill property [1].

Located approximately 180 kilometers from the company's Lone Tree autoclave and carbon-in-leach (CIL) processing facility, Archimedes is expected to contribute to production by the fourth quarter of 2026. The project aims to increase annual gold output from less than 50,000 ounces to a target range of 150,000 to 200,000 ounces by 2028 [1].

The construction of surface infrastructure, including a maintenance shop and offices, is complete, and utilities such as water, power, and compressed air are in place. Small Mine Development, L.L.C. (SMD) has been contracted to develop Archimedes to the 5100-foot elevation, with underground development expected to be completed by mid-2027 [1].

The project's Preliminary Economic Assessment (PEA) highlights an after-tax net present value of $644 million, with an internal rate of return of 81% at a gold price of $3,000 per ounce. Archimedes anticipates an initial mine life of approximately 10 years, with an average annual gold output of approximately 100,000 ounces at an all-in-sustaining cost of $1,877 per ounce [1].

The company has accelerated the infill drill program and feasibility study, with initial infill drilling of the upper zone scheduled to begin in the fourth quarter of 2025. The feasibility study is targeted for completion in the first quarter of 2027 [1].

The next steps include resource drilling, permitting, and metallurgical testing. The company aims to leverage its existing infrastructure to minimize costs and maximize efficiency.

References:
[1] https://www.morningstar.com/news/pr-newswire/20250905to66428/i-80-gold-receives-construction-permits-and-initiates-underground-development-at-archimedes