Day Trading Reports
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Day Trading Reports

Investing

i-80 Gold Releases PEAs for Cove and Archimedes Projects in Nevada

by admin February 22, 2025
February 22, 2025
i-80 Gold Releases PEAs for Cove and Archimedes Projects in Nevada

In the past week, i-80 Gold (TSX:IAU,NYSEAMERICAN:IAUX) has announced preliminary economic assessment (PEA) results for both its Cove and Archimedes underground gold projects in Nevada, US.

According to the company, the PEAs confirm that the assets will be able to play key roles in a hub-and-spoke mining and processing strategy that will leverage i-80’s Lone Tree autoclave facility.

Cove, located along the Battle Mountain-Eureka trend, is expected to operate for about eight years, producing an average of 100,000 ounces of gold annually following ramp-up activities.

Mine construction capital for the property is estimated at US$157 million, with life-of-mine sustaining capital projected to come in at US$49 million. The company expects production to ramp up during 2029.

Meanwhile, Archimedes, which is part of the Ruby Hill Complex, is projected to operate for approximately 10 years, producing an average of 100,000 ounces of gold annually after it ramps up.

Mine construction capital is estimated at US$49 million, with life-of-mine sustaining capital of US$106 million.

According to CEO Richard Young, the positive PEAs for Cove and Archimedes validate i-80’s strategy of developing multiple high-grade underground mines that will supply ore to a central processing facility at Lone Tree.

“The results validate our planned regional hub-and-spoke model of feeding a central processing plant with high-grade material from three underground mines, which is expected to form the production base for i-80 Gold moving forward,” he said in the Cove PEA announcement, which was came out on February 12.

The CEO also said Cove is expected to be the first of these underground deposits to enter production, delivering high-margin ounces at a relatively low cash cost. Transportation costs from Archimedes to the autoclave facility will be higher, and grades will be lower compared to i-80’s other underground assets, but its contribution is expected to be meaningful.

Young added that the projects provide significant gold price leverage and offer substantial exploration upside.

Both assets will utilize long-hole open stoping with delayed backfill as the primary mining method.

Permitting at Cove is well advanced, with activities expected to take around three years. The company continues to work closely with regulators to finalize operational permits ahead of the planned development schedule.

At Archimedes, a phased permitting approach is being implemented.

The first phase, covering mining activities above the 5,100 foot elevation, is nearing completion and will allow for mining through June 2027. The second phase, covering deeper mining activities, is expected to be approved by mid-2027.

Moving forward, i-80 is looking to complete infill drilling and advanced metallurgical work at Cove, with plans for a feasibility study by the fourth quarter of this year. At Archimedes, the company is aiming to release an updated resource estimate in 2028. The plan is to include 50,000 meters of drilling targeting the 426 zone and the Ruby Deeps deposit.

‘In the coming weeks, we look forward to releasing updated PEAs for Granite Creek (both open pit and underground) and the Ruby Hill Complex (Archimedes underground and Mineral Point open pit),’ Young also said.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Top 5 Canadian Mining Stocks This Week: Minsud Resources Up 47 Percent on Maiden Resource
next post
Extension of Broker Option and Retail Offer

Related Posts

Trump Administration Strikes 50/50 Minerals Deal with Ukraine

May 2, 2025

First patient dosed in Phase IIb imaging for...

April 28, 2025

JZR Gold Inc. Closes Non-Brokered Private Placement Offering...

March 5, 2025

Altech – CERENERGY Accredited Highest Possible Green Rating

January 25, 2025

International Lithium Announces Upsize and Extension of Private...

May 2, 2025

Tech 5: CoreWeave Inks US$11.9 Billion OpenAI Deal,...

March 16, 2025

Lithium Universe LtdSpodumene Offtake Update

June 2, 2025

Crypto Market Recap: Trump Signs First Crypto Bill,...

April 12, 2025

Opawica Explorations Inc Announces the Closing of Non-Brokered...

April 4, 2025

CHARBONE Hydrogen Signed a USD 50 Million Construction...

May 2, 2025

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      Forum Energy Metals and Global Uranium Announce Exploration Update on Drill Targeting, Northwest Athabasca Project, Saskatchewan

      January 31, 2025
    • 2

      Mega M&A: Rio Tinto-Glencore Merger Sparks Chatter

      January 28, 2025
    • 3

      Excellent 90% recoveries at Cork Tree Well & Board Update

      February 17, 2025
    • 4

      Financial Agreement signed releasing $2M grant

      January 23, 2025
    • 5

      Netflix shares soar as company reports surging revenue, tops 300 million subscribers

      January 23, 2025
    • 6

      Cyclopharm Signs US Agreement with HCA Healthcare for Technegas®

      January 23, 2025
    • 7

      FDA officially authorizes Zyn nicotine pouches for sale following health review

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: daytradingreports.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 daytradingreports.com | All Rights Reserved