NEVADA – U.S.-focused miner i-80 Gold announced it has secured all required permits and officially begun construction at its Archimedes underground project, part of the Ruby Hill property in Nevada. The approvals came from both the Nevada Division of Environmental Protection and the U.S. Bureau of Land Management, giving the company the green light to start underground mining above the 5,100-foot elevation, consistent with previously approved open-pit permits.
Initial development efforts will focus on surface infrastructure before advancing underground work through mid-2027. Planned construction includes the creation of two portals, a main haulage decline, ventilation raises, exploration bays, and other supporting facilities.
“The receipt of permits and commencement of construction at Archimedes marks a major milestone for i-80 Gold as we advance Phase 1 of our growth strategy in Nevada. Phase 1 is expected to increase annual gold output from less than 50,000 oz to a target range of 150,000 oz to 200,000 oz of gold by 2028,” said Richard Young, president and CEO of i-80 Gold.
Young added that the deposit offers significant long-term potential: “Exploration upside at Archimedes could extend the current ten-year mine life, with infill drilling of both the upper and lower zones now being accelerated to support a feasibility study expected in the first quarter of 2027.”
Archimedes is i-80 Gold’s second planned underground mine, located about 180 km from the company’s Lone Tree autoclave and carbon-in-leach processing facility. Until Lone Tree comes online in 2028, ore from Archimedes is expected to be toll-treated at a third-party autoclave beginning in late 2026.
.avif)
According to a March 2025 Preliminary Economic Assessment (PEA), Archimedes carries an after-tax net present value of $644 million at a 5% discount rate and an internal rate of return of 81%, based on a gold price of $3,000/oz. The study projected average annual production of 100,000 ounces of gold at an all-in sustaining cost of $1,877/oz, with an initial capital requirement of $47 million and total life-of-mine costs of $106 million.
The deposit currently contains 436,000 ounces of gold in the indicated resource category (grading 7.6 g/t) and 988,000 ounces in inferred resources (grading 7.3 g/t). The Ruby Deeps zone remains open both north and south, offering further exploration opportunities.
As part of its accelerated infill drilling program, i-80 Gold plans to spend $10 million to $25 million on more than 175 drill holes totaling 60,000 meters of core. This work will refine the resource model and support the feasibility study, which will also integrate ongoing metallurgical testing.
The Archimedes project is central to i-80 Gold’s three-phase growth plan, which seeks to increase production in Nevada to 600,000 ounces per year in the early 2030s. Phase 1 includes the ramp-up of Granite Creek underground, the construction of Archimedes, and the refurbishment and commissioning of Lone Tree.
By moving into construction, i-80 Gold is positioning itself as one of Nevada’s next major gold producers, with Archimedes expected to play a pivotal role in the company’s growth trajectory.
Originally reported by Mariaan Webb in Creamer Media's Mining Weekly.
.webp)
