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i-80 Gold Corp. has initiated a major drill program at its Getchell Project in Nevada, involving over 20,000 metres of surface and underground drilling. The project contains 1.464 million ounces of gold in Measured and Indicated categories and 0.646 million ounces in Inferred. The primary aim is to advance underground and open pit opportunities towards production. President Matt Gili emphasized the importance of completing a Preliminary Economic Assessment (PEA) to guide future development. The Getchell Project remains a crucial asset for i-80 as it works on growth plans in the region.
Equinox Gold Corp. has successfully acquired Premier Gold Mines Limited, enhancing its portfolio with assets including the Hardrock Project, now named Greenstone Project, and the producing Mercedes Mine in Mexico. This acquisition positions the company with eight operating mines and significant gold reserves across North America. Premier shareholders will receive Equinox shares and shares in the newly spun-out i-80 Gold Corp. Equinox also raised C$75 million through a private placement, with strategic growth initiatives underway for the Greenstone Project and other existing operations.
Equinox Gold announced that 99.9% of Premier Gold Mines Limited's shareholders approved the acquisition, with a share exchange rate of 0.1967 Equinox shares for each Premier share. Following this, existing shareholders will hold approximately 84% and 16% of Equinox Gold, respectively. The transaction, expected to close in March 2021, includes the spin-out of a new company, i-80 Gold Corp., which will hold Premier’s Nevada assets. Equinox will retain Premier's key assets, including the Hardrock Project in Ontario and the Mercedes Mine in Mexico.
