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United States
McCoy-Cove Project

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 Location:
41 km SW from Battle Mountain, Nevada, United States

  Project Contacts:
5190 Neil Road
Suite 110
Reno
Nevada, United States
89502
Phone  ...  Subscription required
WebsiteWeb
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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Gold
  • Silver
Mining Method
  • Drift & Fill
  • Cemented backfill
Mine Life8 years (as of Jan 1, 2021)
The gold deposit defined at McCoy-Cove represents one of the highest-grade deposits with resources in excess of 1 million ounces of gold in North America. Construction of the exploration decline continued on plan and has been advanced approximately 1,300 feet. Additional work on metallurgical and hydrology studies, engineering of de-watering and mining options, and reclamation activities associated with the inactive tailings storage facility is also being advanced.


Owners

Source: p. 9,31
CompanyInterestOwnership
i-80 Gold Corp. 100 % Indirect
The McCoy-Cove Project is an advanced-stage development project located along the Battle Mountain-Eureka trend in Nevada that is 100% indirectly owned by the Corporation. The Corporation's subsidiary, Premier USA, acquired the McCoy-Cove Project from Newmont pursuant to the terms of a definitive purchase agreement dated July 31, 2014, which included the acquisition of 1,096 unpatented claims and nine patented fee claims. The Corporation's interest in the McCoy-Cove Project is held through Premier USA and Au- Reka LLC.

Contractors

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Deposit Type

  • Skarn
  • Vein / narrow vein
  • Carlin-type
  • Carbonate replacement


Summary:

Geology and Mineral Resource The Cove Project contains four structurally controlled mineralized zones within the Triassic sedimentary package. The Helen and Gap zones are Carlin Style disseminated refractory gold deposits. The Cove South Deep (CSD) gold and silver mineralization is associated with disseminated sulfides and is characterized by Ag:Au ratios of 50:1 to over 100:1. The 2201 zone is comprised of disseminated sulfides within sheeted stockwork veins with high concentrations of lead and zinc.

The Cove-Helen deposit consist of two mineralization styles, Carlin-style and polymetallic sheeted veins. The Carlin-style mineralization within the Helen, Gap, and CSD zones comprises approximately 85% of the existing resource with high gold and silver grades occurring as both stratabound and structurally controlled mineralization at the intersection of the Cove anticline and favorable lithologic beds, structures, intrusive dikes and sills.

The polymetallic 2201 zone is a separate deposit from the shallower Carlin-style mineralization and is believed to be a structurally controlled sheeted vein system. Veining is oriented northwest, with vein geometry being controlled by a deeper northwest striking reverse fault. Due to its depth, the 2201 zone has seen limited drilling since its original discovery in late 2013, however, additional infill and step-out drilling in the future will help to better define deposit potential and mineralization controls.


Mining Methods

  • Drift & Fill
  • Cemented backfill


Summary:

Due to the mostly flat geometry of the ore lenses, all planned production mining will be completed using drift and fill mining. The final choice of mining method will depend upon the geometry of the stope block, proximity to main access ramps, ventilation and escape routes, the relative strength or weakness of the mineralized material and adjacent wall rock, and finally the value or grade of the mineralized material. The choice of mining method will not be finalized until after the stope delineation and definition drilling is completed.

ACCESS DEVELOPMENT
Underground access to the mining areas will begin with a portal on the North side of the existing pit and ramp down. Initial work will consist of 4,557 feet of decline from the portal down to approximately the 4600-foot elevation and 889 feet of drill laterals. The drill laterals are located directly above the Helen and Gap deposits.

Primary access drifts are designed 15 feet wide and 17.5 feet high to permit 30-ton haulage trucks and provide a large cross section for ventilation. Drift gradients will vary from – 15% to + 15% to reach the desired elevation. Secondary drifts, spiral ramps and vertical raises will connect the haulage drifts to provide a pathway for ventilation to the surface and serve as a secondary escape way.

GROUND SUOOPRT
It is expected that Swellex rock bolts along with welded wire mesh will be able to control all conditions encountered during decline development ........


Crushing and Grinding


Processing

Source: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 102743
All production numbers are expressed as metal in doré.

Operational Metrics:

Metrics
Daily mining rate  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
* According to 2021 study.
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Reserves at January 1, 2021:
Mineral Resources have been estimated using a gold equivalent cutoff grade of 0.141 opt.

CategoryTonnage CommodityGradeContained Metal
Indicated 1,110 k tons Gold 0.316 oz/ton 351 koz
Indicated 1,110 k tons Silver 0.85 oz/ton 943 koz
Inferred 4,262 k tons Gold 0.317 oz/ton 1,353 koz
Inferred 4,262 k tons Silver 0.602 oz/ton 2,565 koz

Commodity Production Costs:

CommodityUnitsAverage
Credits (by-product) Gold USD  ......  Subscription required&nbs
Cash costs Gold USD  ......  Subscription required *†
All-in sustaining costs (AISC) Gold USD  ......  Subscription required *†
All-in costs Gold USD  ......  Subscription required *†
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
† Net of By-Product.
Subscription required - Subscription is required.

Operating Costs:

Units2021
UG mining costs ($/ton milled) USD 100 *
Total operating costs ($/ton milled) USD  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 151
Transportation (haulage) costs $M USD 69
Total OpEx $M USD  ......  Subscription required
Income Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
EBITDA (LOM) $M USD  ......  Subscription required
Net Income (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of January 1, 2021:
HME TypeSizeQuantityLeased or
Contractor
Bolter ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNamePhoneEmailProfileRef. Date
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Jan 1, 2021
....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required Subscription required Jan 1, 2021
....................... Subscription required ....................... Subscription required Subscription required Oct 3, 2022
....................... Subscription required ....................... Subscription required Subscription required Oct 3, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Press Release 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
Management Discussion & Analysis 2018
Preliminary Economic Assessment 2018
Press Release 2017
Technical Report 2013
Year-end Mineral Reserves 2013
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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