06:49 AM EST, 03/05/2025 (MT Newswires) -- i-80 Gold ( IAUX ) on Wednesday released results of a preliminary economic assessment for the Granite Creek underground project in Nevada.

Based on a US$2,175/ounce gold price, the project's undiscounted after-tax cash flows total US$197 million with an after-tax net present value of US$155 million, assuming a 5% discount rate.

Based on a US$2,900/ounce gold price, the project's undiscounted after-tax cash flows total US$420 million with an after-tax NPV of US$344 million, assuming a 5% discount rate.

The life of mine is approximately eight years and average annual gold production is about 60,000 ounces following production ramp-up. Estimated life-of-mine cash costs are US$1,366/ounce and all-in sustaining costs are US$1,597/ounce. The company expects to produce between 20,000 to 30,000 ounces of gold at Granite Creek this year.

Granite Creek is the first property within the company's pipeline of assets to be redeveloped and is currently ramping up to full production.