Name of the Project
Granite Creek gold project.

Location
Humboldt County, in Nevada, in the US.

Project Owner/s
i-80 Gold Corp.

Project Description
A preliminary economic assessment (PEA) has confirmed the substantial economic opportunity that can be realised through the development of openpit and underground mines on the Granite Creek property.

For the openpit, the study envisions the construction of a heap-leach facility and a carbon-in-leach plant on site. 

For the fully permitted underground operation, the trucking of mined material is proposed to be processed at an off-site, third-party processing facility. 

The openpit project has measured and indicated resources of 28.31-million tonnes process material at 1.42 parts per million (ppm) and inferred mineral resources of 1.53-million tonnes process material at 1.26 ppm. The underground project has measured and indicated resources of 1.01-billion tonnes process material grading 10.4 g/t, and inferred resources of 741-million tonnes grading 13.41 g/t gold.

Based on the current resource estimates for the property, the study envisions a mine life of nine years during which about 1.25-million ounces of gold will be produced.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate, of $244.9-million and an internal rate of return of 34.2%.

Capital Expenditure
$69.9-million.

Planned Start/End Date
Not stated.

Latest Developments
i-Gold Corp announced positive assay results from the ongoing underground drill programme at Granite Creek in January 2022.

High-grade drill results from the 4790 Level targeting mineralisation in the Otto, Adam Peak and Range Front fault horizons proximal to and below existing mine workings are designed to confirm continuity in one of the initial areas being defined for underground mining. These fault horizons are three of multiple target areas being drilled, with several holes intersecting gold mineralisation in multiple horizons.

The 2022 programme has been intensified and is expected to comprise more than 30 000 m from surface and underground.

As part of the programme targeting development and mining at Granite Creek, definition drilling using two underground Cubex drills has started in areas where encouraging assays results were received in 2021. This drilling is being completed to define initial stoping areas as i-80 advances towards a production decision.

i-80 says the primary goal of the 2022 drill programme is to delineate and expand underground mineralisation as it ramps up mining on the property. It is expected that refractory mineralisation from the underground operation at Granite Creek will initially be trucked to Nevada Gold Mine’s Twin Creeks for processing until i-80’s Lone Tree facility is operational.

The Granite Creek deposit remains open at depth and along strike from the existing underground workings, with step-out drilling aimed at expanding resources currently under way using multiple surface drill rigs.

Key Contracts, Suppliers and Consultants
Global Resource Engineering (PEA).

Contact Details for Project Information
i-Gold Corp, tel +1 775 525 6450 or email info@i80gold.com.