I-80’s Granite Creek resources triple, costs jump
I-80 reports increased resources and mine life at Granite Creek, but costs have risen sharply in the new feasibility study.
I-80 Gold has revealed a significantly larger resource at its Granite Creek underground mine in Nevada, with a 229% increase in measured and indicated resources. However, this larger resource comes with a 42% rise in life-of-mine all-in sustaining costs, now at $2,273 per ounce. The company's new feasibility study estimates an after-tax net present value of $118 million at a gold price of $2,750 per ounce.
National Bank of Canada Capital Markets mining analyst Don DeMarco highlighted that while the economics remain modest due to elevated costs, the mine remains a long-term source of high-grade feed for Lone Tree, with potential for further growth through exploration extensions.
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