i-80 Gold Corp. (TSX: IAU) reported this morning the assay results from the first hole drilled at its Granite Creek property in Humboldt County, Nevada. The mining firm started underground drilling activities on the project in June 2021 after the overhauling of underground drill bays was completed.
The maiden drill hole iGM21-01 intersected two zones of mineralization:
- 3.17 g/t gold over 7.5 metres starting from 33.8 metre-mark, and
- 6.80 g/t gold over 51.1 metres starting from 83.7 metre-mark
- including 8.42 g/t gold over 39.6 metres.
“Advancing the Granite Creek Mine Project is the company’s primary focus for 2021. With more than 20,000 metres of drilling planned in the current program, our goal will be to increase resources, advance permitting to facilitate open-pit mining, and prepare for underground test mining that is expected to be initiated this year,” said i-80 Gold President and COO Matt Gili.
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The company also relayed that the primary goal of the 2021 drill program is “to advance underground and open pit opportunities to production”. The program is also expected to define and expand mineralization on the property as it completes the preliminary economic assessment report in the coming weeks.
Earlier this month, the Nevada-focused mining firm reported Q2 2021 revenue of $10.3 million.
i-80 Gold last traded at $2.53 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.
