i-80 Gold Announces High-Grade Mineral Resource Estimate for the FAD Project and Confirms Near-Surface Oxide Mineralization
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The most recent news release from i-80 Gold Corp. on November 6, 2025, announces a high-grade mineral resource estimate for its FAD Project, located in Nevada, USA. The estimate identifies significant polymetallic mineralization, including gold, silver, lead, and zinc.
Key figures from the FAD Project resource estimate: - Indicated Mineral Resource: - 594,000 tonnes - Gold (Au) Grade: 4.51 g/t - Silver (Ag) Grade: 209.7 g/t - Lead (Pb) Grade: 4.34 % - Zinc (Zn) Grade: 6.77 % - Inferred Mineral Resource: - 2,736,000 tonnes - Gold (Au) Grade: 5.07 g/t - Silver (Ag) Grade: 188.6 g/t - Lead (Pb) Grade: 3.69 % - Zinc (Zn) Grade: 4.42 %
The Vice President of Geology, Tyler Hill, commented that the update highlights the high-grade nature of the deposit and that it has significant upside potential, suggesting additional drilling could further benefit the project. The resource estimate only includes validated drill holes, excluding historical data lacking sufficient quality control.
This news is best categorized as Routine - Neutral. While the FAD Project's mineral resource estimate itself presents high-grade polymetallic mineralization, the company has explicitly stated in prior communications (e.g., November 12, 2024, and August 13, 2025, news releases and Q2 2025 earnings call transcript) that FAD is considered a non-core asset and is actively being pursued for sale as part of its recapitalization plan.
In the Q2 2025 earnings call, CFO Ryan Snow estimated the potential proceeds from the sale of the non-core FAD asset to be between $50 million and $100 million. The current resource estimate, while providing formal validation of the asset's value, does not change the company's stated strategic intent to divest FAD. It does, however, reinforce the asset's saleability and could potentially support the target valuation for its disposition.
The company's primary focus and capital allocation are directed towards advancing its five core Nevada gold projects (Granite Creek, Lone Tree, Archimedes, Mineral Point, Cove) and refurbishing the Lone Tree autoclave facility to become a mid-tier gold producer. The FAD Project, being a base metal deposit (though with gold/silver credits), falls outside this core strategy. Therefore, this resource update is a positive step for the eventual sale of FAD, but it does not materially alter the development trajectory, financial outlook, or risk profile of i-80 Gold's core business plan at this juncture. It confirms the potential of an asset that is already earmarked for sale rather than for internal development.
i-80 Gold Corp. is a Nevada-focused gold mining company with a strategic goal to become a mid-tier gold producer, targeting 150,000 to 200,000 ounces per year by 2028 and over 600,000 ounces per year by the early 2030s. The company is executing a three-phase development plan centered on a "hub-and-spoke" model, with the Lone Tree autoclave processing facility serving as a central hub for refractory ore.
The company's core asset portfolio includes: - Granite Creek: The first gold operation, currently ramping up underground production. It also has open pit potential. - Archimedes (Ruby Hill Complex): The second planned underground mine, with surface infrastructure completed and underground development scheduled to commence. - Cove: The third planned underground mine, undergoing permitting and infill drilling to support an upcoming feasibility study. - Mineral Point (Ruby Hill Complex): A large oxide heap leach project, considered a potential flagship asset for the later phase of growth (early 2030s). - Lone Tree Autoclave Facility: Undergoing a refurbishment study, critical for processing refractory material from the underground mines and improving recoveries.
The FAD Project, which is the subject of the most recent resource estimate, is considered a non-core asset and is being marketed for sale to help fund the development of the core gold projects.