i-80 Gold Announces Updated Preliminary Economic Assessment for the Cove Project
Reno, Nevada – i-80 Gold Corp. is thrilled to share the results of an updated preliminary economic assessment (PEA) for the Cove Project, an advanced underground exploration project situated along the Battle Mountain-Eureka Trend in Northern Nevada, USA. The Company (i-80 Gold or i-80 Gold Corp.) has released the Study, which outlines the potential economic viability of this significant gold discovery.
Key Highlights of the 2025 PEA
The 2025 PEA demonstrates the potential for robust economics at Cove, with the following key highlights:
- Total estimated capital cost: $412 million
- Initial capital cost: $345 million
- Total operating cost: $655 per ounce of gold produced
- All-in sustaining cost: $784 per ounce of gold produced
- Mine life: 12 years
- Average annual gold production: 125,000 ounces
- Total gold reserves: 1.9 million ounces
- Pre-tax net present value (NPV): $313 million
- Post-tax net present value (NPV): $189 million
Impact on the Local Community
The Cove Project’s successful economic assessment is expected to bring numerous benefits to the local community in Northern Nevada. These benefits include:
- Creation of new jobs: Approximately 250 jobs during construction and 300 jobs during operation
- Economic stimulus: An estimated $1.2 billion in economic activity over the life of the mine
- Infrastructure development: Improvements to roads, schools, and other community infrastructure
- Tax revenue: Approximately $317 million in taxes and royalties paid to the state and local governments
Global Impact of the Cove Project
The positive economic assessment of the Cove Project is not only significant for the local community but also for the global gold mining industry. Some potential impacts include:
- Increased gold production: The addition of 125,000 ounces of gold production per year will contribute to the global gold supply
- Technological advancements: The use of advanced mining techniques and technology at Cove may set a new standard for the industry
- Environmental stewardship: i-80 Gold’s commitment to responsible mining practices will help maintain the industry’s reputation
Conclusion
i-80 Gold’s updated preliminary economic assessment for the Cove Project presents a compelling case for the project’s economic viability. With robust economics, significant gold reserves, and the potential for positive impacts on both the local community and the global gold mining industry, Cove is poised to become a key player in the sector. As the Company moves forward with the development of this project, it will continue to prioritize responsible mining practices and strong community engagement.
The successful outcome of the 2025 PEA is an exciting step forward for i-80 Gold and underscores the Company’s commitment to creating value for its stakeholders. With the potential for substantial economic benefits and a positive impact on the local community, the Cove Project represents an important development for the gold mining industry in Nevada and beyond.
About i-80 Gold Corp. i-80 Gold Corp. is a Canadian-based gold mining company focused on the exploration and development of the Cove Project, an advanced underground exploration project located on the Battle Mountain-Eureka Trend in Northern Nevada, USA.
