i-80 Gold Corp. drill results and project update
On Thursday, 26 June 2026, i-80 Gold Corp (NYSE: IAUX, TSX: IAU) saw its shares rise 2.7% in after‑hours trading following the release of drill results from its Archimedes Underground Project located on the Ruby Hill property in northeastern Nevada. The company confirmed that development remains on schedule to achieve first gold production in the fourth quarter of 2026.
The 2025‑2026 infill drill campaign in the upper 426 zone was completed on schedule and within budget, delivering approximately 8,500 metres of core from 40 drill holes. Infill drilling began in the fourth quarter of 2025 and was finished in April 2026. Key assay results from the campaign included:
- Hole iAU26‑09: 16.2 g/t gold over 56.4 metres.
- Hole iAU26‑11: 21.9 g/t gold over 20.2 metres.
- Hole iAU26‑13: 11.0 g/t gold over 26.1 metres.
True widths for these intercepts are estimated at 40 % to 65 % of the core width.
As of 31 December 2025, the Archimedes deposit hosts an Indicated Mineral Resource of 1.8 million tonnes containing 436,000 ounces of gold at a grade of 7.6 g/t, and an Inferred Mineral Resource of 4.2 million tonnes containing 988,000 ounces of gold at a grade of 7.3 g/t.
The timing of feasibility‑level technical studies for the Granite Creek underground and Cove underground projects has been extended from the second quarter of 2026 to the third quarter of 2026 as the company continues to optimise its development‑plan sequencing.
A new infill drilling programme targeting the lower portion of the 426 zone and the Ruby Deeps zone commenced in the second quarter of 2026. The programme aims to drill approximately 55,000 metres across 140 holes to support the planned Archimedes Feasibility Study. Five underground drill rigs are currently mobilised on site, with two additional rigs expected to arrive in July.
The company now expects to complete the Archimedes feasibility study late in the first quarter of 2027.