TORONTO, June 25, 2026 /CNW/ - i-80 GOLD CORP. (NYSE: IAUX) (TSX: IAU) ("i-80 Gold", or the "Company") is pleased to announce the remaining assay results from the completed 2025-2026 infill drill campaign within the upper 426 zone of the Archimedes Underground Project ("Archimedes" or the "Project"), situated on the Company's Ruby Hill property in northeastern Nevada, USA, where development remains on schedule to achieve first gold in the fourth quarter of 2026 (see Figure in Appendix). Further, as the Company continues to optimize the sequencing of its development plan, the timing of feasibility-level technical studies for Granite Creek underground and Cove underground is being extended from the second quarter of 2026 to the third quarter of 2026.
Highlights From Remaining Drill Results
16.2 g/t Au over 56.4 m in hole iAU26-09 (sulfide)
21.9 g/t Au over 20.2 m in hole iAU26-11 (sulfide)
11.0 g/t Au over 26.1 m in hole iAU26-13 (sulfide)
7.3 g/t Au over 33.1 m in hole iAU26-08 (sulfide)
5.4 g/t Au over 56.5 m in hole iAU26-17 (oxide)
True widths are estimated between approximately 40% - 65% of core width. |
"These drill results from the upper 426 zone at Archimedes are excellent, demonstrating significant widths and continuity of high-grade material that extends the known mineralized area," stated Paul Chawrun, EVP and COO. "We expect the mineralization at Archimedes to expand based on the latest results and as we advance a larger drill program currently underway within the lower 426 zone and Ruby Deeps zone, which is expected to be complete in advance of a planned feasibility study in 2027. These results, combined with the positive drill results previously released from Granite Creek underground, continue to support our view that the mineralized bodies at both Granite Creek underground and Archimedes underground remain open for potential expansion, and are being incorporated into ongoing technical work evaluating the potential to source sufficient feed from these two underground mines for the Lone Tree Plant for a significant period. The Lone Tree Plant refurbishment remains on track, with on-site demolition underway, and engineering, contracting, and procurement on schedule."
Archimedes Underground Project
Archimedes is currently being developed as the second underground mine within Phase 1 of the Company's development plan. Phase 1 includes the planned mining and development of Archimedes and Granite Creek underground projects, which are expected to begin feeding material to the Company's Lone Tree Plant by late 2027, subject to the completion of the Lone Tree Plant's refurbishment and commissioning. Until that time, the underground material from Archimedes and Granite Creek are expected to be processed through an existing third-party toll milling agreement.