Granite Creek PEA confirms ‘substantial opportunity’ – i-80 Gold
Granite Creek – one of four projects being advanced in i-80 Gold’s portfolio – offers a “substantial economic opportunity” through the development of openpit and underground mines, the company said on Tuesday.
A preliminary economic assessment (PEA) for the project, located in Humboldt county, Nevada, envisions a mine life of nine years, producing 1.24-million ounces of gold with life-of-mine all-in sustaining costs of $963.40/oz.
This generates a net present value, using a 5% discount, of $244.9-million and an after-tax internal rate of return of 34.2%.
Initial capital is estimated at $69.9-million.
President and COO Matthew Gili said that the study contemplated constructing heap leach and carbon-in-leach facilities on the property for the openpit and trucking refractory material for third-party processing.
“The recent acquisition of the Lone Tree site will allow for the optimization of these facilities as we progress to a feasibility study, potentially leading to changes in the ultimate processing plans versus what is presented in the study,” he said.
i-80 recently acquired the Lone Tree site from Nevada Gold Mines (NGM). Granite Creek is located immediately south of the Turquoise Ridge and Twin Creeks mining operations of NGM.
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