i-80 Gold Corp. (NYSE: IAUX) reported initial assay results from its 2026 infill drilling campaign at the Mineral Point open pit heap leach project in northeastern Nevada, according to a company press release.

Of the 35 holes reported, 19 were step-out holes drilled outside the existing mineral resource, all of which encountered mineralization. Key intercepts included 1.33 g/t gold and 39.2 g/t silver over 225.6 meters in hole iMP26-07, and 1.70 g/t gold and 61.5 g/t silver over 170.7 meters in hole iMP26-23. Step-out drilling to the east of the known deposit, an area previously drilled sparsely by Homestake Mining Company in the early 1990s, showed what the company described as potential to extend mineralization by approximately one kilometer along strike and 300 meters in width.

The ongoing 2026/2027 program targets approximately 130,000 meters of drilling across 300 holes. Around 30,000 meters had been completed through the end of August using up to seven drill rigs. The program initially progressed slower than planned due to drill rig availability, but the rate improved following the mobilization of additional equipment. Completion is expected in the first quarter of 2027, though that timeline may extend depending on assay results.

Exploration spending for 2026/2027 is projected at $40 million to $45 million for Mineral Point, plus approximately $5 million for technical and pre-permitting activities. Funding is expected to come in part from a Franco-Nevada Corporation royalty financing completed in March 2026, of which an initial $25 million was allocated to the project, with a second $25 million payment expected once the first allocation is spent.

Drill results are intended to support a pre-feasibility study targeted for mid-2027. A preliminary economic assessment published in February 2025 outlined a 17-year mine life with annual gold equivalent production of approximately 280,000 ounces following ramp-up, and a base case after-tax net present value of $614 million at a 5% discount rate using gold and silver prices of $2,175 and $26 per ounce, respectively.