The Cove deposit represents one of North America’s highest-grade gold deposits. (Photo: i-80 Gold)

The underground, advanced-exploration program at i-80 Gold’s McCoy-Cove property in Nevada has commenced. Construction of the decline is now under way and the Phase 1 program will include construction of an initial level with multiple drill bays to provide access for upgrading resources. Approximately 40,000 meters (m) of underground definition and expansion drilling is anticipated to commence in the second half of 2022 followed by a feasibility study anticipated to be completed in 2023.

The Cove deposit represents one of North America’s highest-grade gold deposits with grades in excess of 10 grams per metric gold (g/mt). The deposit remains open for expansion down-dip.

McCoy-Cove is one of three underground mining projects i-80 is advancing, ultimately with ore to be processed at the company’s recently acquired Lone Tree Complex, according to President and COO Matt Gili.

“With interim processing arrangements with Nevada Gold Mines, in addition to our autoclave, we have secured the required processing that will allow us to build our portfolio of high-grade projects including the Cove mine that is an important component in our growth plans,” Gili said.

The McCoy-Cove Property is strategically located 84 kilometers (km) south (by road) of the Lone Tree Complex and immediately south of Nevada Gold Mines’ Phoenix mine within the Battle Mountain-Eureka Trend.

In related news, i-80 reported this week it sold first gold from residual heap-leach operations at its Lone Tree and Ruby Hill Projects.

“A truly historic event for i-80,” Executive Vice President Matthew Gollat said. “After less than a year in existence, we have produced our first gold from ongoing residual leach projects while we continue to execute the development of several projects within our portfolio as planned with the goal of becoming a significant operator in the state of Nevada.”