i-80 Gold Corp.(TSX: IAU) (OTCQX: IAUCF)has elected proceed with its planned 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 by i-80 and is one of the key projects contemplated in the company’s plans to restart the Lone Tree processing facility that includes an autoclave.
The underground plan will include the construction of a decline and a level that will include multiple drill bays in order to upgrade resources and complete a Feasibility Study. The Cove deposit on the Property represents one of North America’s higher grade gold deposits with grades in excess of 10 grams per tonne gold . The deposit remains open for expansion to the southeast.
“McCoy-Cove is one of the four projects being advanced, with mineralisation anticipated to be processed at the company’s recently acquired Lone Tree Complex,” President and COO, Matt Gili, said.
“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.”
Formal Request for Proposal (RFP) documents were submitted to six underground mining contractors and site visits were completed in November. Contractor selection will take place in December 2021. i-80 is anticipating breaking ground for the underground plan at McCoy-Cove in early 2022.
The initial Scope of Work for the Cove Exploration Decline consists of a new portal and over 1,000 meters of underground development. From this decline and drill platform we will commence a 40,000m in-fill and definition drilling campaign, primary focused on upgrading the known resource.
The McCoy-Cove Property is strategically located approximately 50 km south 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 an all-season road from Highway 55 in Nevada.
For further information please visit: https://www.i80gold.com/