i-80 Gold Completes First Gold Sale in Company History
Lone Tree and Ruby Hill heap leach operations are now producing gold
RENO, Nev., March 9, 2022 /CNW/ – i-80 GOLD CORP. (TSX: IAU) (OTCQX: IAUCF) (“i-80”, or the “Company”) is pleased to announce that it has completed the first sales of gold from residual heap leach operations at its Lone Tree and Ruby Hill projects, both 100% owned by the Company. These milestones achieve two other elements described in i-80’s global plan for 2022 (see press release from January 12, 2022).
“A truly historic event for the i-80,” said Matthew Gollat, Executive Vice President at i-80. “After less than a year of existence, we have produced our first gold from ongoing waste leach projects as we continue to execute the development of several projects within our portfolio as planned with the aim of becoming a major operator in the state of nevada.”
The Lone Tree property is strategically located on Interstate 80, the major highway running through the north Nevadaand close to the north Nevada railroad, midway between the Granite Creek and McCoy–Cove projects of i-80. Lone Tree gives i-80 a competitive edge in Nevada housing significant processing infrastructure to grow the company’s business, including an autoclave, CIL mill and heap leach facility complete with assay lab and gold refinery. Current gold production is the result of leaching from existing heap leach pads. The nearby Brooks and Buffalo Mountain mining operations are currently progressing with material to be trucked to the Lone Tree leach pad. Mining of the Brooks deposit is expected to begin in the second half of 2022.
The Ruby Hill Mine is located immediately west of the town of Eureka off Highway 50 and hosts multiple deposits that i-80 says collectively represent one of the largest gold resource endowments. and money from state of nevada. The property houses key infrastructure, including heap leach facilities, a CIL circuit and a plant. Going forward, refractory mineralization from Ruby Hill is expected to be trucked to the Lone Tree Complex for processing after refurbishment. The primary source of production at Ruby Hill is material from the East Archimedes open pit mined from September 2020 for November 2021 as well as some residual leaching from older material on the platform.
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 well funded Nevada-a mining-focused mining company whose goal is to achieve mid-tier gold producer status through the development of several deposits within the company’s portfolio of late-stage properties that are expected to be processed in the centrally located Lone Tree processing facility and autoclave.
Certain statements contained 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 Lone Tree or Ruby Hill and the potential of Lone Tree Properties Tree and Ruby Hill. These statements and information involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the company, its projects or the results of the industry to be materially different from expressed or implied future results, performance or achievement. by such forward-looking statements or information. These statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”. “, “anticipates”, “estimates”, “expects”, “expects”, “predicts” and other similar terms, or state that certain actions, events or results “could”, “could”, “would”, ” could” or “would” 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 construed as guarantees of future performance or results, and will not necessarily be accurate indicators of whether or not those results will be achieved. A number of factors could cause actual results to differ materially from results discussed in any forward-looking statements or information, including, but not limited to: material adverse changes, unexpected changes in laws, rules or regulations , or their application by the competent authorities; the failure of parties to contracts with the Company to perform as agreed; social or labor unrest; changes in commodity prices; and the failure of exploration programs or studies to produce anticipated results or results that would justify and support continued exploration, studies, development or mining.
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SOURCE i-80 Gold Corp
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