RENO, Nev., May 12, 2021 /PRNewswire/ - i-80 GOLD
CORP. (TSX: IAU) ("i-80", or the "Company") is
pleased to announce that it has completed a property acquisition
with members of the Christison family and Seven Dot Cattle Co. LLC
to secure mineral and surface interests at the recently acquired
Getchell Project in Humboldt County,
Nevada.
The lands acquired include an approximate 42% interest in
certain claims that host a significant portion of the open pit
resource at Getchell and the potential extension of the Pinson
underground deposit. The property interests also include private
surface ownerships that will allow for the development of an open
pit. Lastly, i-80 is acquiring an additional land section that
will provide additional area that can be used for locating
important infrastructure.
The total consideration consisted of $10
million in cash ($7.5 million
of which was paid in December 2020)
and 2,430,488 common shares of i-80 Gold.
Matt Gili, President and Chief
Operating Officer of i-80, commented: "The acquisition of these
properties represent a major milestone for the Getchell Project,
further consolidating mineral ownership of one of Nevada's highest-grade development-stage
deposits while also securing critical surface lands that will allow
i-80 to pursue the development of an open pit mining operation
contained within our property."
The Getchell Project represents one of i-80's three core land
holdings in Nevada and is host to
both open pit and underground resources. In 2021, the Company will
complete a Preliminary Economic Assessment and a major drill
programs, both on surface and underground. The goal is to advance
the Pinson underground mine, currently under care-and-maintenance,
to a production decision on an expedited basis. Pinson is host
to a high-grade resource that includes 190,000 ounces of gold
(Measured & Indicated) at a grade of 10.49 g/t and 581,000
ounces of gold (Inferred) at a grade of 11.90 g/t making it one of
the highest–grade, fully permitted, gold deposits in North America. Permitting activities will be
initiated concurrent with drilling and metallurgical work on the
open pit deposit area that hosts a Measured & Indicated
resource of 1.275 M ounces of gold at
an average grade of 1.95 g/t Au.
Tim George, PE, Manager of Engineering Services, 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.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale
would be unlawful. The securities being offered have not been, nor
will they be, registered under the Securities Act of 1933 and may
not be offered or sold absent registration or an applicable
exemption from the registration requirements of such Act any
application state securities laws.
About i-80 Gold Corp.
i-80 Gold Corp. is a Nevada-focused mining company with a goal of
achieving mid-tier gold producer status. In addition to its
producing mine, El Nino at South Arturo, i-80 is beginning to plan
for future production growth through the potential addition of the
Phases 1 & 3 projects at South Arturo, advancing the Getchell
Project through economic studies and then on to development, and
the advanced exploration for the 100%–owned McCoy-Cove
Property.
Certain statements in this release constitute "forward-looking
statements" or "forward-looking information" within the meaning of
applicable securities laws, including but not limited to,
commencement of trading of i-80 Gold on the Toronto Stock Exchange
and completion of the acquisition of the Getchell Project. Such
statements and information involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the company, its projects, or
industry results, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements or information. Such statements can be
identified by the use of words such as "may", "would", "could",
"will", "intend", "expect", "believe", "plan", "anticipate",
"estimate", "scheduled", "forecast", "predict" and other similar
terminology, or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved. These statements reflect the Company's current
expectations regarding future events, performance and results and
speak only as of the date of this release.
Forward-looking statements and information involve significant
risks and uncertainties, should not be read as guarantees of future
performance or results and will not necessarily be accurate
indicators of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements or
information, including, but not limited to: material adverse
changes, unexpected changes in laws, rules or regulations, or their
enforcement by applicable authorities; the failure of parties to
contracts with the company to perform as agreed; social or labour
unrest; changes in commodity prices; and the failure of exploration
programs or studies to deliver anticipated results or results that
would justify and support continued exploration, studies,
development or operations.
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SOURCE i-80 Gold Corp