I-80 Gold Signs Preliminary JV Agreement for Nevada Gold Property

By Adriano Marchese

I-80 Gold said Tuesday that it has entered into an preliminary agreement to potentially form a joint venture to develop its gold property in Nevada.
The Toronto-listed gold miner said it has entered into a nonbinding term sheet regarding a potential JV with an unidentified third party.

Under the terms of the agreements, the potential partner would acquire a minority interest in its Ruby Hill property in Eureka County.
I-80 Gold said it has granted the potential partner exclusivity for 120 days in order to complete its due diligence.
In the meantime, I-80 said that it will focus for the remainder of the year on its metallurgical and exploration drilling, as well as working towards compiling drill data.
Write to Adriano Marchese at adriano.marchese@wsj.com