i-80 Gold reports drilling results from Nevada underground project

i-80 Gold Corp. (NYSE American: IAUX) reported assay results from drilling at its Archimedes Underground Project in Nevada. The company announced drill results including 24.6 grams per tonne gold over 23.6 meters in hole iAU26-05.

The Archimedes project is located on the company's Ruby Hill property in northeastern Nevada. Construction of the underground project began in the third quarter of 2025, with the company targeting first gold extraction in the third quarter of 2026.

As of December 31, 2025, Archimedes contained an indicated gold mineral resource of 436,000 ounces at 7.6 grams per tonne and an inferred gold mineral resource of 988,000 ounces at 7.3 grams per tonne. The majority of the resource is located in the Ruby Deeps zone below the 5100-foot elevation.

The drilling program focused on the upper portion of the deposit, known as Upper Archimedes, situated above the 5100-foot elevation. A total of 7,500 meters over 35 holes have been drilled to date. The company completed 20 holes with results including 10.2 grams per tonne gold over 36.4 meters and 8.0 grams per tonne gold over 46.4 meters.

Development at the project has progressed with approximately 1,200 meters of underground development completed as of the end of the first quarter of 2026. The company stated that project costs remain in line with budget expectations.

Material from Archimedes is expected to begin feeding the company's Lone Tree processing plant by late 2027, subject to completion of the plant's refurbishment. Until then, underground material will be processed through a third-party toll milling agreement.

A preliminary economic assessment filed in March 2025 outlined an approximate 10-year mine life with average annual gold output of approximately 100,000 ounces following production ramp up.

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