i-80 Gold Corp. (TSX: IAU) reported this morning that it is pushing through with its planned underground, advanced-exploration program at the McCoy-Cove property in Nevada. Mineralization is expected to be processed at the recently acquired Lone Tree complex.
“With the processing arrangement we have with Nevada Gold Mines, in addition to our autoclave, we have secured the required processing that will allow us to build this high-grade mine that is an important component in our growth plans,” relayed i-80 Gold President & COO Matt Gili.
The McCoy-Cove property is one of the mining firm’s four current projects. The underground exploration program entails constructing a decline and a level to include multiple drill bays with a goal to upgrade resources and complete a feasibility study.
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According to the property’s mineral resource estimate, indicated resources have 1.0 million tonnes of resources containing approximately 351,000 gold ounces and 943,000 silver ounces grading at 10.9 g/t gold and 29.1 g/t silver. On the other hand, inferred resources have 3.9 million tonnes containing 1.4 million gold ounces and 2.6 million silver ounces grading at 10.9 g/t gold and 20.6 g/t silver.
Bidding for contractors has started with the selection expected to happen in December 2021. Breaking ground is anticipated in early 2022.
The mining firm recently reported drill results from its Granite Creek property, highlighting an assay of 14.7 g/t gold over 10.2 metres.
i-80 Gold last traded at $3.04 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.
