i-80 Gold Corp.(TSX: IAU) (OTCQX: IAUCF) has commenced the underground, advanced-exploration programme at the company’s 100%-owned McCoy-Cove Property in Nevada.
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 and the Phase 1 programme will include construction of an initial level with multiple drill bays to provide access for upgrading resources.
Approximately 40,000 m 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).The deposit remains open for expansion down-dip.
“McCoy-Cove is one of three underground mining projects being advanced, ultimately with mineralisation to be processed at the Company’s recently acquired Lone Tree Complex”, Matt Gili, President and COO, Matt Gili, said.
“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 84 km 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.The Property is accessed via all-season road from Highway 55 in Nevada.
The company also announced 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
For further information please visit: https://www.i80gold.com/