RENO,
Nev., July 5, 2022 /PRNewswire/ - i-80 GOLD
CORP. (TSX: IAU) (NYSE: IAUX) ("i-80", or the
"Company") is pleased to announce that it has begun
shipping ore from operations at the Granite Creek Mine to Nevada
Gold Mines LLC ("NGM"), Twin Creeks processing facility, as per the
Company's toll-milling agreement negotiated as a part of the
acquisition of the Lone Tree property. This shipment represents
another major milestone achieved, ahead of schedule, in i-80's 2022
comprehensive plan (see press release dated January 12, 2022).
"This milestone is another key achievement realized by the i-80
operations team, who's hard work and focus has paved the way to
make this historic event possible", stated Matt Gili, President & COO of i-80. "The
goal now is to continue to advance development, ramping up mining
to 450 tons per day by the end of the year and further accelerate
mining in 2023 to achieve our target of 1,000 tons per day in
H2-2023."
Given timing of the testing of the initial ore sent to NGM under
the toll-milling agreement, and an initial blending program by NGM,
the Company does not expect to report ounces from Granite Creek
until the fourth quarter of 2022.
The Granite Creek Property is strategically located proximal to
Nevada Gold Mines' Turquoise Ridge
and Twin Creeks mines at the north end of the Battle
Mountain-Eureka Trend, at its intersection with the Getchell gold
belt in Nevada (See Figure 2).
High-grade mineralization occurs in a near-identical geological
setting as that at the multi-million-ounce Turquoise Ridge Mine
located immediately to the north; proximal to a major regional
fault (the Getchell or Range Front fault) on the eastern edge of
the large Osgood Mountains intrusive complex. The Granite
Creek deposit remains open at depth and along strike from the
existing underground workings and step-out drilling aimed at
expanding resources is currently underway.
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 anticipated to be
processed at the centrally located Lone Tree processing facility
and autoclave.
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, the
expansion or mineral resources at Granite Creek and the potential
of the Granite Creek Property. 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