i-80 Gold Corp. (TSX: IAU) shared this morning the details of its development plans for 2022, tied to its previously announced goal of creating a comprehensive Nevada mining complex. The mining firm targets to be a Nevada-focused mining company “producing more than 500,000 ounces of gold annually.”
Calling it the “Hub and Spoke”, the development plan intends to “construct four new mining operations over the next three years, complete multiple large-scale drill programs, advance permitting, build a tier-one exploration, development and mining operations team, and restart the Lone Tree autoclave.”
The recently acquired Lone Tree property will be the “hub” of the firm’s Nevada operations. Mineralization from Granite Creek, Ruby Hill, and McCoy-Cove properties will be fed to the Lone Tree autoclave while mineralization from Buffalo Mountain (and Brooks) open pit will be fed to the Lone Tree heap leach facility.
“With a strong balance sheet, we are concentrated on achieving our goal of becoming one of Nevada’s largest gold producers”, said CEO Ewan Downie. “2021 was a highly successful first year for i-80 where we closed multiple strategic acquisitions that position i-80 as one of the largest holders of gold and silver resources in the State.”
The firm initiated a “scorecard” to monitor the plan and share updates with its stakeholders.
| CORPORATE GROWTH | |
| Goal | Status |
| Build Tier-One Management Team | Underway – Several key positions secured |
| Secure Finances to Execute Growth | Currently ~US$200M in cash and cash equivalents |
| Align with ICMM Principles | Underway |
| LONE TREE COMPLEX | |
| Goal | Status |
| Complete autoclave and metallurgy studies | Underway – Awarding Study Contracts |
| Place long lead time orders for autoclave refurbishment | To be ordered once appropriate studies are completed |
| Residual leaching program | Underway – Gold production expected in 20221 |
| GRANITE CREEK | |
| Goal | Status |
| Achieve consistent ramp up mining rate | Ramp up plan underway |
| Commence delivery of mineralization to NGM for processing | Targeting first delivery in H2-2022 |
| Complete 20,000 m drill program | Underway – drill results throughout the year |
| Complete updated mineral resource estimate | To be completed after drill program – update plan YE 2022 |
| Complete underground feasibility study | Targeting completion in H2-2022 |
| RUBY HILL | |
| Goal | Status |
| Complete +20,000 metre surface drilling campaign | Underway – drill results throughout the year |
| Submit permitting for an underground mining operation | Work to initiate permitting underway |
| Heap leach processing of 2021 mined material | Underway – Gold production expected in 2022 |
| Complete updated mineral resource estimate | To be completed after drill program – update plan YE 2022 |
| Complete PEA or Pre-Feasibility study | Targeting completion in H2-20221 |
| MCCOY-COVE | |
| Goal | Status |
| Initiate underground development program | Award Development Contract Q1-2022 |
| Commence 40,000 metre Underground Drill Program | Targeting H2-2022 start once ramp is sufficiently developed |
| Complete mine dewatering strategy | Underway – Targeting completion in 2022 |
| BUFFALO MOUNTAIN (AND BROOKS) | |
| Goal | Status |
| Complete permitting of the heap leach open pit operation | Underway – Targeting completion in 2022 |
| Complete resource estimate | Underway – Targeting release in H2-2022 |
Currently, the company has combined resources in the measured & indicated category of 6.5 million gold ounces and 104.3 million silver ounces from all its properties. It also has a total of 8.1 million gold ounces and 76.5 million silver ounces in the inferred category.
i-80 Gold last traded at $2.90 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
