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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (78154)	5/7/2024 8:00:37 PM
From: onepath	1 Recommendation Recommended By LoneClone Respond to of 78403

A little more detail on IAU from stockwatch daily gold summary … Ewan Downie's I-80 Gold Corp. (IAU) lost one cent to $1.64 on 2.64 million shares. The company plans a busy 2024 with definition and expansion drilling, underground development and test mining of the South Pacific zone of its Granite Creek project in Nevada. The South Pacific zone is projected to become the main mining horizon once the access work is completed. The coming drilling will allow for an updated resource estimate ahead of a feasibility study of the Granite Creek underground mining plan. I-80 Gold closed a $115-million public offering a week ago, selling nearly 70 million shares at $1.65 to advance its various projects. Mr. Downie, CEO, cheers the placement as putting his company "in a position to accelerate advancement of high-grade projects," with Granite Creek high on the list. He applauds previous drilling at South Pacific as showing the "excellent continuity of high-grade gold mineralization," thereby confirming Granite Creek as a significant deposit located on strike from one of North America's largest gold mining operations. There is little doubt about Granite Creek being a high-grade deposit, but the question is its size. The current open-pit resource estimate lists 563,000 tonnes indicated at 10.45 grams of gold per tonne and 20,500 tonnes inferred at 1.94 grams per tonne, good for just 190,000 ounces of gold. Then, there is the underground: I-80 has one million tonnes measured and indicated at 10.4 grams per tonne and 741,000 tonnes inferred at 13.4 grams per tonne, good for another 656,000 ounces of gold. And so, adding ounces at South Pacific would be good news indeed