I-80 Gold – 14.5 Million Ounces Of Gold Resources, 4 Projects, Over $1 Billion Of Infrastructure, And Multi-fold Production Growth Over The Next Few Years
Ewan Downie, CEO and Director of I-80 Gold Corp (TSX: IAU – NYSE: IAUX), joins us to review the Company’s 4 primary Projects in Nevada that are transitioning into producing mines, the significant production infrastructure in place, and the exploration success the company is having at both Granite Creek and Ruby Hill.
We start off looking at the disconnect in their current market cap, versus what it would take to recreate the over $1 Billion in sunk cost at their Lone Tree Processing center, and that this doesn’t even include the additional value and sunk costs at their Ruby Hill oxide processing plant. Next we discussed their global resources of 14.5 million ounces of gold, and an additional 180 Million ounces of silver, both of which are expanding as they continue with ongoing exploration programs.
We also have Ewan outline the Company’s scaled production growth strategy going from around 20000 ounces this year to a target of 250,000 ounces annually in 2025. We discuss the where the initial production will be coming from for the balance of 2022 and 2023 and the key ore processing agreement in place with Nevada Gold Mines (the JV between both Barrick and Newmont in NV).
We wrap up with the success and notable drill results from the 30,000 meter exploration Granite Creek, and the simultaneous 30,000 meter drill program at Ruby Hill. At Granite Creek the majority of the current resources and past drilling has been at the Ogee Zone, but recent drilling at the South Pacific Zone shows it could be several times larger than Ogee and still open for expansion. At Ruby Hill, the majority of the resources and past drilling were at the Ruby Deeps Zone, but there has been a new 007 Zone discovered, as well as some work at the new Blue Sky target discovery. However, the big focus near Ruby Hill has been on the very high-grade polymetallic drill results coming back from the Hilltop Zone, which is a CRD type of deposit. This Hilltop Zone could prove to be a substantial base-metals contributor for the company as this area continues to be drilled and expanded.
If you have questions for Ewan regarding the ongoing work and strategy at i-80 Gold Corp, then please email us at either Fleck@kereport.com or Shad@kereport.com.
* In full disclosure, Shad is an existing shareholder of I-80 Gold corp
Yes, I’m biased as an existing I-80 shareholder, but it is hard not to be impressed with the 14.5 million ounces of Gold, additional 180 million ounces of silver, the over $1 billion in infrastructure sunk costs for their Lone Tree Processing center and the additional oxide plant at Ruby Hill, and all the exploration upside. On both of their 30,000 meter drill programs (60,000 total this year) they’ve been continuing to hit bonanza grade gold and silver, and now with the new Hilltop Zone, they have very impressive base metals hits for Zinc & Lead to boot. Their resources got even bigger this year, and we’ll just have to wait until next years resource update to see how big, but as Ewan stated, they already have one of the larger PM endowments in the USA, and they are operating in one of the best jurisdictions — Nevada. What’s not to like?
I’m amazed that they still have the low market cap they do all things considered…
Sounds better all the time. It has moved up to my #2 in $ value. Thanks for the interview. Stay in touch with them.
If IAUX is your second pick, what’s you’re first, because I-80 SHOULD trade about 5X where it’s at right now, and with all of their positive current and likely future news, could literally be a MOON-SHOT from here?!!!
Downie makes a compelling case for his multi faceted company. I wish him well.