i-80 Gold Corp. has received all required permits and started construction at the Archimedes project in Nevada.
Archimedes, the Company's second planned underground mine, is expected to contribute to production in the fourth quarter of 2026.
The development plan aims to increase gold output to 600,000 ounces annually in the early 2030s.
Phase One Growth Strategy
Expected annual gold output target of 150,000 to 200,000 ounces by 2028.
Exploration Potential at Archimedes
Accelerated infill drill program to extend the mine life with substantial exploration potential.
Three-Phase Development Plan
Targets 600,000 ounces annual gold output in the early 2030s through phased development.
Permitting Progress
Permitting activities underway with phased approach allowing mining while pursuing additional technical work.
Development Work Update
Surface infrastructure construction complete, underground development progressing to 5100-foot elevation.
- Archimedes expected to have an after-tax net present value of $644 million with an 81% internal rate of return at $3,000 per ounce gold price.
- Anticipated mine life of approximately 10 years with annual gold output of 100,000 ounces.
- Construction capital estimated at $47 million with life-of-mine development and closure costs at $106 million.
The progress at Archimedes signifies a significant milestone for i-80 Gold Corp. as they advance their growth strategy and exploration efforts, aiming to enhance production and extend mine life. The company's phased approach and strong financial outlook position them for continued success in the gold mining sector.