i-80 launches comprehensive plan to create Nevada-focused gold mining company
Nevada-based i-80 Gold Corp. announced its development plans for 2022, which it called a catalyst-rich year as the company commences its plans to build a comprehensive Nevada mining complex. i-80 is in the process of developing multiple mining operations to achieve its objective of building a Nevada focused mining company with a goal of ultimately producing more than 500,000 ounces of gold annually.
i-80 completed multiple strategic transactions in 2021, the first year of it being a publicly traded company, that position the company to achieve its goal of becoming a prominent, stand alone, gold producer in the state of Nevada. i-80 acquired the Granite Creek, Lone Tree and Ruby Hill properties to become one of the largest holders of gold and silver resources in Nevada.
In a statement, the company said it secured the ability to process all types of gold mineralization, including refractory gold bearing mineralization, through the acquisition of the Lone Tree processing complex and also through interim processing agreements with Nevada Gold Mines that provide the i-80 Gold Corp. with the flexibility to process material from any of the three planned underground operations until the Lone Tree autoclave is restarted. Processing of refractory mineralization remains one of the biggest barriers to entry in Nevada and i-80 is currently one of only three companies with this capability.
To execute its “Hub and Spoke” development plan, i-80 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.
Lone Tree will be the “Hub” of i-80’s Nevada operations as the central processing facility, operations office, assay lab and warehouse for all sites. Mineralization from Granite Creek, Ruby Hill, and McCoy-Cove will feed the Lone Tree Autoclave, once restarted, and mineralization from the Buffalo Mountain (and Brooks) openpit will be processed at 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 Ewan Downie, chief executive officer of i-80 Gold. “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.”
“Executing our aggressive growth platform is the key focus for 2022 and management is in the process of building a tier-one management team with a track record of operational excellence in Nevada,” said Matt Gili, president and chief operating officer of i-80 Gold. “We are targeting peer-best production growth through the development of our portfolio of permitted, road accessible deposits. Additionally, the Company has gained a strategic advantage as one of only three companies in the State with infrastructure to process refractory mineral resources, once the facility has been retrofitted to suit the company’s deposits.”