i-80 Gold Commences Underground Development Program at McCoy-Cove
PR Newswire
Jon Laird Joins i-80 as Cove Mine Project Manager
RENO, Nev.
,
March 7, 2022
/PRNewswire/ –
i-80 GOLD CORP.
(TSX: IAU) (OTCQX: IAUCF)
(“i-80”, or the “Company”)
is pleased to announce that the underground, advanced-exploration, program at the Company’s 100%-owned McCoy-Cove Property (“McCoy-Cove” or “the Property”) has commenced, achieving another item of its 2022 comprehensive plan (see press release dated
January 12, 2022
). Additionally,
Jon Laird
has joined the Company as the Manager of the Cove Mine Project and will oversee the development program.
McCoy-Cove is one of four projects currently being advanced and is expected to be a key component in the Company’s plans to restart the Lone Tree autoclave. Construction of the decline is now underway (see Figure 1) and the Phase 1 program will include construction of an initial level with multiple drill bays to provide access for upgrading resources. Approximately 40,000 metres of underground definition and expansion drilling is anticipated to commence in H2-2022 followed by a Feasibility Study anticipated to be completed in 2023. The Cove deposit represents one of
North America’s
highest grade gold deposits with grades in excess of 10 grams per tonne gold (g/t Au) (see Table 1). The deposit remains open for expansion down-dip.
Table 1 – McCoy-Cove Resource
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The Company is also pleased to announce that
Jon Laird
has joined i-80 to become the Cove Mine Project Manager. Mr. Laird is well known to i-80 Gold having previously been the project manager responsible for bringing the El Niño mine (Nevada Gold Mines JV) into production. Most recently, he worked at Hycroft Resources as well as Underground Mine Operations Superintendent at Barrick Gold’s Hemlo Mine in
Northwestern Ontario
“McCoy-Cove is one of three underground mining projects being advanced, ultimately with mineralization to be processed at the Company’s recently acquired Lone Tree Complex”, stated
Matt Gili
, President & COO of i-80. “With interim processing arrangements with
Nevada Gold Mines
, in addition to our autoclave, we have secured the required processing that will allow us to build our portfolio of high-grade projects including the Cove Mine that is an important component in our growth plans.”
The McCoy-Cove Property is strategically located approximately eighty-four kilometres south (by road) of the Company’s Lone Tree Complex and immediately south of
Nevada Gold Mines’
Phoenix Mine within the Battle Mountain-Eureka Trend (see Figure 2). The Property is accessed via all-season road from Highway 55 in
Nevada
.
Qualified Person
Tim George, PE, is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.
About i-80 Gold Corp.
i-80 Gold Corp.
is a well-financed, Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the development of multiple deposits within the Company’s advanced-stage property portfolio anticipated to be processed at the centrally located Lone Tree processing facility and autoclave.
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SOURCE i-80 Gold Corp