06:29 AM EDT, 05/07/2024 (MT Newswires) -- i-80 GOLD CORP. ( IAUX ) on Tuesday provided an update on planned programs at the company's Granite Creek Property located in Humboldt County, Nevada. It said this work being conducted in 2024 is expected to include definition and expansion drilling, underground development and test mining of the South Pacific Zone, and a Feasibility Study.

According to a statement, the primary focus is bringing the South Pacific Zone into the long-term mine plan. It said the SPZ is expected to become the primary horizon for mining once initial development has been extended to provide access. As part of the 2024 program, it added, definition drilling to support increasing Measured and Indicated Mineral Resources will be accelerated in advance of the completion of a Feasibility Study for the Granite Creek Underground mining operation. Also, expansion and exploration drilling will be completed.

Tuesday's statement noted the 2024 drilling program will follow-up on the successful 2023 "Phase 1" drilling completed from underground and surface. It said drilling from underground was completed in the upper portion of the SPZ, where initial stoping is expected, and surface drilling was completed in the northern portion of the deposit. Both programs returned "exceptional high-grade results", it added.

The company said with improved definition drilling, initial development, and test mining of the SPZ, it will plan to complete an updated resource estimate and Feasibility Study. The SPZ remains open for expansion at depth and along strike to the north towards Nevada Gold Mines' Turquoise Ridge Mine, it added.

"The recently completed financing significantly bolsters the company's balance sheet and we are now in a position to accelerate the advancement of i-80's portfolio of high-grade projects," said Ewan Downie, Chief Executive. "Drilling continues to demonstrate excellent continuity of high-grade gold mineralization in the South Pacific Zone, confirming Granite Creek as a significant deposit located on strike from one of North America's largest gold mining operations".