Nevada’s precious metals producer i-80 Gold Corp. (TSX: IAU) (NYSE: IAUX) continues to produce a stream of high-grade drill results from its operations in the state.
The Reno-based operator reported its best-ever core samples at the McCoy-Cove property in Lander County on Monday. They come from last year’s drill program at the site’s Helen zone. i-80 aims to attain mid-tier producer status.
Notable new results include 22.6 g/t gold over 19.1 metres, 32.9 g/t Au through 4.9 metres and 23.5 g/t in a 12.8 metre length.
“Results received to-date have met or exceeded our expectations as definition drilling continues to confirm that Cove is one of the highest-grade, development-stage gold deposits in North America,” Tyler Hill, Chief Geologist, said. Hill added that the site’s main deposit remains open for expansion. In addition, several high-priority targets have been lined up for future drilling
“Deposits with grades in excess of 10 grams per tonne gold over widths frequently in excess of 10 metres are rare.”
Credit: i-80 Gold
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i-80 invests millions in development of Helen zone
The McCoy-Cove property is vast, spanning roughly 15 kilometres by 10 kilometres. The site has historically produced 3.3 million ounces of gold and more than 100 million ounces of silver.
The operation’s latest economic assessment was completed in 2021. In that document, the company says it will spend US$81.9 million on the project’s Helen and Gap zones over the next two years.
The Cove project is situated immediately south of the Phoenix operation run by Nevada Gold Mines in the state’s Battle Mountain gold trend. That trend, also called Eureka due to its proximity to a town by that name, is known for its rich gold mineralization and resources.
Calibre Mining Corp (TSX: CXB) (OTCQX: CXBMF) has capitalized on the Battle Mountain trend since 2017 at its Pan mine. The mid-tier miner will begin production at the neighbouring Gold Rock project this year as well.
That heap leach mine has 30 per cent higher grades than Pan, the international gold producer says. Production from Gold Rock is expected to bring Calibre’s annual Nevada gold production up to more than 100 kilo ounces.
The Battle Mountain trend is known for its rich Carlin-style deposits. They’re renowned for being among the richest in the world, with an abundance of microscopic gold particles surrounding areas of thicker mineralization.
SSR Mining Inc. (TSX: SSRM) has benefitted from the trend’s rich gold deposits too. It has produced large quantities of the yellow metal since 1989 at its Marigold mine. That operation was estimated to contain 2.6 million ounces of probable gold at the end of 2023.
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