I-80 Gold resource positions Nevada’s FAD project for sale

Core Insights - I-80 Gold has announced a new high-grade polymetallic resource at its FAD project in Nevada, aimed at enhancing the marketability of this non-core asset as part of its recapitalization plan [1][3] Resource Details - The FAD project contains 594,000 indicated tonnes with grades of 4.51 grams per tonne gold, 209.7 grams silver, 4.3% lead, and 6.8% zinc, equating to 86,000 ounces of gold, 4 million ounces of silver, 57 million pounds of lead, and 89 million pounds of zinc [2] - Additionally, there are 2.74 million inferred tonnes at 5 grams gold, 188.6 grams silver, 3.7% lead, and 4.4% zinc, which translates to 446,000 ounces of gold, 16.6 million ounces of silver, 223 million pounds of lead, and 267 million pounds of zinc [2] Strategic Plans - The company aims to raise $350–$400 million through financing, royalty sales, and the sale of the FAD deposit to support its core assets and multi-asset development strategy [3] - I-80 Gold is focused on becoming a mid-tier gold producer in Nevada, with key projects including Lone Tree, Granite Creek, Cove, and Ruby Hill [3] Market Performance - I-80 Gold's shares increased nearly 1% to C$1.29, although they have decreased by 12% over the past year, with a market capitalization of C$1 billion (approximately $712 million) [4] Additional Developments - Near-surface oxide gold has been confirmed at Gold Hill, which could be processed through the Ruby Hill heap-leach facility, showing an 85% gold recovery in preliminary tests [5] - The net smelter returns for the indicated and inferred resources are estimated at about $430 and $442 per tonne, respectively [6] Ongoing Projects - Recent infill drilling at Granite Creek Underground has yielded promising results, with significant gold grades reported [7] - Development and feasibility studies are ongoing at Ruby Hill and Granite Creek, with plans for advanced engineering at Lone Tree [8] - Key challenges include securing long-lead permits and completing the refurbishment of the autoclave at Lone Tree [10]