i-80 Gold (TSX:IAU,OTCQX:IAUCF) completed its preliminary economic assessment (PEA) for the Granite Creek project in Humboldt County, Nevada, confirming the substantial economic opportunity on the project.
“Granite Creek is currently the most advanced project in our portfolio in terms of near-term mine development. We recently rehabilitated the underground workings. … It’s our goal to ramp up to full production in 2022,” i-80 Gold CEO Ewan Downie told the Investing News Network. “We recently announced that we’re having a ton of success and a new structure with very high grades and good widths.”
Downie added that McCoy Cove, which is south of the Granite Creek project, is expected to be the second of three underground mines to be built over the next few years. McCoy Cove is host to resources close to 2 million ounces at grades of nearly 11 grams per tonne.
“We are permitted to go underground,” Downie said. “And we just announced that we are proceeding with the plan to go underground and complete all the work to move into full production. That program should start in the first quarter of 2022.”
In October 2021, i-80 Gold acquired the Ruby Hill mine from Waterton Nevada Splitter and Waterton Nevada Splitter II. The property is viewed to complement Granite Creek in terms of production.
“Our goal here is to build a profitable mid-tier gold producer that in our view will be one of the most respected producers in our sector and in the years to come. Our focus right now is to execute our plan to become a significant producer within the state of Nevada. Now it’s just up to our team to execute on our growth plan.”
Watch the full interview of i-80 Gold CEO Ewan Downie above.
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