i-80 Gold Announces Additional High-Grade Assay Results From Archimedes Underground Including 16.2 g/t Au Over 56.4 Meters; Updates Timing of 2026 Technical Studies
i-80 Gold delays two feasibility studies to Q3 2026 while Archimedes remains on track for first gold in Q4 2026.
i-80 Gold Corp. (IAU) announced high-grade assay results from its completed 2025-2026 infill drill campaign at the Archimedes Underground, highlighting 16.2 g/t Au over 56.4 m and 21.9 g/t Au over 20.2 m in the Upper 426 Zone. The company also confirmed that the Lone Tree Plant refurbishment is on track, with demolition underway and construction slated for the second half of 2026. Regarding regulatory status, Archimedes is fully permitted above the 5,100-foot level, with permitting below that elevation anticipated by mid-2027.
The company has delayed the completion of feasibility-level technical studies for the Granite Creek and Cove underground projects from Q2 2026 to Q3 2026. i-80 Gold maintains its target for first gold production at Archimedes in Q4 2026. To support an updated resource estimate and a feasibility study anticipated in late Q1 2027, the company announced an expanded drilling program of approximately 55,000 meters across 140 holes targeting the lower 426 and Ruby Deeps zones.
The company reiterated metrics from its Preliminary Economic Assessment (PEA), which outline a mine life of approximately 10 years and an average annual output of ~100,000 oz. The PEA projects an after-tax NPV(5%) of $127M and an internal rate of return (IRR) of 23% at a gold price of $2,175/oz.
i-80 Gold Corp. (IAU) delayed two feasibility studies by a quarter, a modest operational miss that does not fundamentally alter the project's development thesis. High-grade drilling results have confirmed resource continuity, though they do not change the capital-intensive nature of the project. Since the Q1 2026 earnings release on May 12, the stock has declined approximately 10%, suggesting the market has partially priced in execution delays and gold price volatility.
i-80 Gold Corp. (IAU) is a Nevada-based developer transitioning to a mid-tier producer. The company’s portfolio includes five brownfield projects: Granite Creek (Underground & Open Pit), Archimedes (Underground), Cove (Underground), Mineral Point (Open Pit), and the Lone Tree processing plant. All assets are located in Tier-1 mining jurisdictions in Nevada, USA. The company’s strategic goal is to reach approximately 600,000 oz/year average annual production by the early 2030s.