- 582 acre-feet per annum of water rights to be used for the operation and eventual closure of the
Cove Project - Barite processing facilities and associated infrastructure
- A rail siding to provide the Company with access to the
Northern Nevada Railway and property to be used or leased out for a variety of Commercial purposes
At closing, i-80 will own a 100% interest in the Property and associated infrastructure and assuming certain reclamation and related bonding liabilities on the Property. The
McCoy-Cove is one of four projects currently being advanced for development and is expected to be a key project in the Company's plans to restart the Lone Tree autoclave. Construction of the decline at Cove is now underway with more than 300 ft advanced to date. This Phase 1 program will also include construction of an initial level with multiple drill bays to provide access for upgrading resources. Approximately 40,000 metres of underground definition and expansion drilling is anticipated to commence in H2-2022 followed by a Feasibility Study anticipated to be completed in 2023. The Cove deposit represents one of
"Acquiring the Baker Hughes property and the water rights associated with it is a significant step forward in our execution of the development of the
Mineral Resources | |||||
Tonnage | Gold | Silver | |||
(kt) | (g/t) | (g/t) | (koz) | (koz) | |
Indicated | 1,007 | 10.9 | 29.1 | 351 | 943 |
Inferred | 3,867 | 10.9 | 20.6 | 1,353 | 2,565 |
Notes: Mineral Resources were calculated at a gold price of |
The McCoy-Cove Property is strategically located approximately eighty-four kilometres south (by road) of the
The scientific and technical information contained in this press release was reviewed by Tim George, PE, Mine Operations Manager, and a Qualified Person within the meaning of National Instrument 43–101.
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of applicable securities laws, including but not limited to, the expansion or mineral resources the
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations.
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