17:51:55 EDT Mon 18 Oct 2021
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i-80 Gold Corp
Symbol IAU
Shares Issued 190,751,146
Close 2021-09-14 C$ 3.18
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i-80 begins test mining program at Granite Creek

2021-09-14 10:12 ET - News Release

Mr. Matt Gili reports


i-80 Gold Corp. has completed initial rehabilitation of the underground workings at the company's Granite Creek mine property located in Humboldt county, Nevada, and an underground test mining program is now under way.

Granite Creek hosts both open pit and underground resources and is located proximal to Nevada Gold Mines' (NGM) Twin Creeks and Turquoise Ridge mines at the north end of the Battle Mountain-Eureka trend at its intersection with the Getchell gold belt in Nevada. The underground deposit at Granite Creek represents one of the highest-grade gold deposits in North America with resource grades in excess of 10 grams per tonne gold.

The primary goal of the 2021 program is to advance underground drilling and test mining with a target to make a production decision. Underground drilling and advancements will be focused on delineating sufficient resources for near-term mine development and initial mined material from Granite Creek is expected to be trucked for processing at the nearby Twin Creeks processing facility via an interim processing arrangement with Nevada Gold Mines that was announced as part of a transaction announced on Sept. 7, 2021.

"The interim processing arrangement with Nevada Gold Mines represents a key milestone event for i-80, removing uncertainty of our ability to process refractory material from the Granite Creek mine project," stated Matt Gili, president and chief operating officer of i-80. "As a partner of NGM for several years at South Arturo, which will be transferred to NGM as part of the broader transaction, we have built a strong working relationship and we look forward to continuing to build on this relationship as we realize our plan to develop multiple projects in the state of Nevada."

The test mining program at Granite Creek is verifying the appropriate mining methods, cycles and sequences for advancing the underground ore headings, while controlling open excavations and maintaining safe mining conditions. Testing will include both mechanical cutting and conventional mining methods.

In addition to the underground drill program at Granite Creek, the surface drilling program testing near-surface mineralization for metallurgical purposes and open pit definition is now complete. This part of the program was competed primarily to advance permitting for open-pit mining including heap leach processing on-site. A preliminary economic assessment for the Granite Creek mine project is nearing completion and expected to be released in the near future.

About i-80 Gold Corp.

i-80 Gold is a Nevada-focused mining company with a goal of achieving mid-tier gold producer status. The company expects to close the acquisitions of the Lone Tree complex and the Ruby Hill project in H2 2021 and is advancing an underground development program for the Granite Creek project. i-80 is well financed with more than $70.1-million (as at June 30, 2021) in cash and has recently signed financing agreements with Nevada Gold Mines and a non-binding term sheet with Orion Mine Finance.

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