07:19 AM EST, 02/21/2025 (MT Newswires) -- i-80 Gold ( IAUX ) traded 4.7% higher at last look Friday in NYSE American pre-market after reporting the results of a preliminary economic assessment for the Mineral Point project within the Ruby Hill Complex in Nevada.

The study outlined a post-tax net present value of US$614 million based on a 5% discount rate, with a 12% internal rate of return.

Average production following ramp-up was estimated at 282,000 ounces per year of gold equivalent over a 16.5-year mine life.

The company pegged total capital and closure costs at US$1.45 billion.

"A key driver of future growth, Mineral Point is the largest of our two planned oxide projects complementing our three high-grade underground mines in northern Nevada," Chief Executive Richard Young said.

The study also included an updated resource estimate. Indicated resources totaled 3.4 million ounces of gold with an average grade of 0.48 grams per tonne (g/t) gold, while inferred resources stood at 2.1 million ounces of gold with average grade of 0.34 g/t gold.

Additionally, the resource hosts 104.3 million ounces of silver at 15.0 g/t in the inferred category and 91.5 million ounces of silver at 14.6 g/t in the indicated category.

"With significant production scale, a long mine life, and low costs, Mineral Point is expected to be the flagship project within our portfolio," Young said