i-80 Gold Commences Underground Mining Program at Granite Creek
i80gold.com
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Reno, Nevada, February 23, 2022 – i-80 GOLD CORP. (TSX:IAU) (OTCQX:IAUCF) (“i-80”, or the “Company”) is pleased to announce that they have started the underground mining program at the Company’s Granite Creek Mine (“Granite Creek” or “the Property”) property located in Humboldt County, Nevada.
The 2021 drill program was successful in delineating high-grade mineralization in multiple areas proximal to the existing mine workings and two Cubex rigs are on site drilling to complete definition in advance of underground mining (see Figure 1). The first stoping area has been defined and mining of the stope access to this area is now underway. The Company remains on target to ramp up to production in 2022. Mined material will be stockpiled on-site in preparation for trucking to Nevada Gold Mines’ (“NGM”) nearby Twin Creeks facility pursuant to interim arrangements entered into with NGM to process mineralization from i-80’s properties until the Company’s Lone Tree facility is operational.
Figure 1 – 3D Section of the Granite Creek Underground Mine
*See Press Release dated February 8, 2022 and Preliminary Economic Assessment NI 43-101 Technical Report Granite Creek Mine Project, Humboldt County, Nevada, USA dated November 9, 2021 for more information on referenced assay results
The Granite Creek Mine Project hosts both open pit and underground resources and is strategically located proximal to Nevada Gold Mines’ Twin Creeks and Turquoise Ridge mines at the north end of the Battle Mountain-Eureka Trend at its intersection with the Getchell gold belt in Nevada (see Figure 2). The underground deposit at Granite Creek represents one of the highest-grade gold deposits in North America with resource grades in excess of 10 grams per tonne (“g/t) gold.
“The interim processing arrangement with Nevada Gold Mines has allowed us to fast-track the development of the Granite Creek underground operation, such that it will become Nevada’s newest gold mine”, stated Matt Gili, President and Chief Operating Officer of i-80. “Granite Creek is one of four sites being prepared by the Company for mining in advance of the restart of our Lone Tree processing facility that includes an autoclave. Additionally, our highly successful drill program has not only defined areas for mining but has also resulted in new discoveries including the South Pacific Zone that has the potential to materially increase resources at Granite Creek.”
Figure 2 – Property Location Map
Owing to the success of the ongoing drilling in expanding mineralization, the program has been increased to 30,000 metres in 2022. In addition to the underground program at Granite Creek, the Company continues to advance permitting for open pit mine on the Property including heap leach processing on-site.
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.
For further information, please contact:
Ewan Downie – CEO
Matt Gili – President & COO
Matthew Gollat – EVP Business & Corporate Development
1.866.525.6450
Info@i80gold.com
www.i80gold.com
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