RENO — Nevada-focused mining company i-80 Gold Corp. announced April 15 that it completed the acquisition of the Getchell Project including the Pinson Mine near Winnemucca.
The company, along with its wholly owned subsidiary Premier Gold Mines, acquired from affiliates of Waterton Global Resource Management Inc. the outstanding membership interests of the Osgood Mining Company LLC for $50 million in cash and common shares.
The Getchell Project is located at the intersection of the Getchell gold belt and the Battle Mountain-Eureka trend immediately south of Nevada Gold Mines’ Turquoise Ridge operation. Open pit mining occurred on the property between 1980 and 1999, and underground test mining (the Pinson Mine) was conducted in the early 2010s. The project currently hosts a high grade open-pit and underground deposits, and the Pinson Mine has been in care and maintenance since 2015.
“The Getchell Project is strategically located proximal to the Turquoise Ridge and Twin Creeks mining operations of Nevada Gold Mines,” said i-80 Gold CEO Ewan Downie. “We look forward to immediately commencing a major drill campaign aimed at advancing the development of the high-grade Pinson underground mine within the next twelve months, while at the same time progressing permitting of the open pit, heap leach, mining opportunity.”
In addition to the recent acquisition, the portfolio of i-80 Gold includes El Nino at South Arturo, where the company is planning growth. i-80 Gold also is advancing the development of the McCoy-Cove Project.