i-80 Gold Extends Upper Archimedes Mineralization, Accelerates Development

Event summary

  • i-80 Gold reported high-grade assay results at the Archimedes Underground Project, including 24.6 g/t Au over 23.6 meters.
  • Construction of the Archimedes underground project commenced in Q3 2025, with first gold expected in Q3 2026.
  • The project hosts an indicated gold mineral resource of 436,000 ounces at 7.6 g/t and an inferred resource of 988,000 ounces at 7.3 g/t.
  • Development footage at Upper Archimedes has exceeded plan, with approximately 1,200 meters completed as of Q1 2026.

The big picture

i-80 Gold’s progress at Archimedes underscores the continued interest in Nevada’s gold deposits and the potential for smaller-scale, underground operations to contribute meaningfully to overall gold supply. The company’s strategy of leveraging a central processing facility and pursuing a hub-and-spoke mining model aims to improve efficiency and reduce costs, but hinges on the successful integration of multiple underground projects.

What we're watching

Resource Expansion
The potential for further mineralization beyond the current resource estimate at Upper Archimedes will be a key driver of future value, and the results of the ongoing drilling program will be critical to assess.
Oxide Integration
The economic viability of integrating the newly discovered oxide mineralization into the mine plan remains uncertain and will depend on metallurgical testwork and gold price fluctuations.
Feasibility Study
The upcoming feasibility study, expected in Q1 2027, will be crucial in validating the project’s economics and outlining the long-term production profile.

Related topics

Mining