07:37 AM EST, 03/06/2025 (MT Newswires) -- i-80 Gold ( IAUX ) traded 4.2% higher at last look Thursday in NYSE American pre-market trading as it reported the results of a preliminary economic assessment for the Granite Creek open pit project in Nevada.

The study outlined an after-tax net present value of US$421.2 million based on a 5% discount rate, with a 30% internal rate of return based on a gold price of US$2,175 per ounce.

Average annual gold production was estimated at 110,000 ounces over a 10-year mine life. Total capital and closure costs were projected at US$292.4 million.

"This Granite Creek Open Pit has all the markings of a top tier project; it is an open pit oxide project in Nevada with very good grades and recoveries leading to robust economics," CEO Richard Young said. "This project on its own could be a company maker and it's only one of five projects within the i-80 Gold ( IAUX ) portfolio."

"It's a key component to growing our production profile towards mid-tier status, and our team is working vigorously to permit and move this project forward," Young added.