Mining company i-80 Gold has purchased strategic land sections adjoining the firm’s Granite Creek property in Humboldt County, Nevada for $4 million. The 2 parcels totaling 1,280 acres were acquired from Nevada Gold Mines LLC, as the company sees a significant upside opportunity to mine gold in the area.
I-80 Gold says high-grade mineralization at Granite Creek occurs in a near-identical geological setting to that of Nevada Gold Mines’ multi-million-ounce Turquoise Ridge Mine that is located immediately to the north of the new properties. Both mines are in the extreme north part of the state, near Winnemucca, NV.
“Granite Creek is the first of four properties that i-80 is advancing towards production over the next several years, and where mining has recently commenced,” said i-80 Gold’s Executive Vice President Matt Gollat in a news release. “Given the substantial success of our ongoing drill program, increasing our holdings to the north and south of our current property is extremely important.”