i-80 Gold Bares Roadmap To Nevada-Focused Mining Company Producing 500,000 Ounces Annually

i-80 Gold Corp. (TSX: IAU) shared this morning the details of its development plans for 2022, tied to its previously announced goal of creating a comprehensive Nevada mining complex. The mining firm targets to be a Nevada-focused mining company “producing more than 500,000 ounces of gold annually.”

Calling it the “Hub and Spoke”, the development plan intends to “construct four new mining operations over the next three years, complete multiple large-scale drill programs, advance permitting, build a tier-one exploration, development and mining operations team, and restart the Lone Tree autoclave.”

The recently acquired Lone Tree property will be the “hub” of the firm’s Nevada operations. Mineralization from Granite Creek, Ruby Hill, and McCoy-Cove properties will be fed to the Lone Tree autoclave while mineralization from Buffalo Mountain (and Brooks) open pit will be fed to the Lone Tree heap leach facility.

“With a strong balance sheet, we are concentrated on achieving our goal of becoming one of Nevada’s largest gold producers”, said CEO Ewan Downie. “2021 was a highly successful first year for i-80 where we closed multiple strategic acquisitions that position i-80 as one of the largest holders of gold and silver resources in the State.”

The firm initiated a “scorecard” to monitor the plan and share updates with its stakeholders.

CORPORATE GROWTH
GoalStatus
Build Tier-One Management TeamUnderway – Several key positions secured
Secure Finances to Execute GrowthCurrently ~US$200M in cash and cash equivalents
Align with ICMM PrinciplesUnderway
LONE TREE COMPLEX
GoalStatus
Complete autoclave and metallurgy studiesUnderway – Awarding Study Contracts
Place long lead time orders for autoclave refurbishmentTo be ordered once appropriate studies are completed
Residual leaching programUnderway – Gold production expected in 20221
GRANITE CREEK
GoalStatus
Achieve consistent ramp up mining rateRamp up plan underway
Commence delivery of mineralization to NGM for processingTargeting first delivery in H2-2022
Complete 20,000 m drill programUnderway – drill results throughout the year
Complete updated mineral resource estimateTo be completed after drill program – update plan YE 2022
Complete underground feasibility studyTargeting completion in H2-2022
RUBY HILL
GoalStatus
Complete +20,000 metre surface drilling campaignUnderway – drill results throughout the year
Submit permitting for an underground mining operationWork to initiate permitting underway
Heap leach processing of 2021 mined materialUnderway – Gold production expected in 2022
Complete updated mineral resource estimateTo be completed after drill program – update plan YE 2022
Complete PEA or Pre-Feasibility studyTargeting completion in H2-20221
MCCOY-COVE
GoalStatus
Initiate underground development programAward Development Contract Q1-2022
Commence 40,000 metre Underground Drill ProgramTargeting H2-2022 start once ramp is sufficiently developed
Complete mine dewatering strategyUnderway – Targeting completion in 2022
BUFFALO MOUNTAIN (AND BROOKS)
GoalStatus
Complete permitting of the heap leach open pit operationUnderway – Targeting completion in 2022
Complete resource estimateUnderway – Targeting release in H2-2022
i-80 Gold’s “scorecard” for its Hub and Spoke plan

Currently, the company has combined resources in the measured & indicated category of 6.5 million gold ounces and 104.3 million silver ounces from all its properties. It also has a total of 8.1 million gold ounces and 76.5 million silver ounces in the inferred category.

i-80 Gold last traded at $2.90 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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