i-80 Gold Reports Initial Assay Results from Granite Creek Underground and Provides Infill Drilling Update at High- Grade Cove Project Results underscore the high-grade resources, strong conversion potential, and significant growth upside across i-80 Gold's Nevada
i-80 Gold Reports Initial Assay Results
from Granite Creek Underground and
Provides Infill Drilling Update at High-
Grade Cove Project
Results underscore the high-grade resources, strong conversion
potential, and significant growth upside across i-80 Gold's Nevada
underground portfolio
RENO, Nev., Sept. 10, 2025 /CNW/ - i-80 GOLD CORP. (TSX: IAU)
(NYSE American: IAUX) ("i-80", or the "Company") is pleased to
announce initial assay results for the ongoing program at the Granite
Creek Underground Project ("Granite Creek Underground"), and to
provide an update on infill drilling activities at the Cove Underground
Project ("Cove"), both located in Nevada, United States (see Figure 1
in Appendix).
"At Granite Creek Underground, the first six holes from our infill drill
program continue to show robust high-grade mineralization throughout
the South Pacific Zone and suggest that the deposit has the potential
to expand to the north and at depth," stated Tyler Hill, Vice President,
Geology. "Similarly at Cove, the 2025 infill drill program successfully
supported our geological model, confirmed the high-grade nature of
the underground deposit, and demonstrated the potential for
continued resource expansion at Cove. These findings were a key
step in advancing the Cove feasibility study, which is expected in the
first quarter of 2026, and reinforce our view that the resource
conversion success which we anticipate at Cove could similarly be
achieved at Granite Creek Underground, Archimedes Underground,
and Mineral Point open pit given the comparable disseminated Carlin-
style mineralization. Together, these outcomes from Granite Creek
Underground and Cove highlight the consistency of high-grade
resources and meaningful growth upside that exists across i-80's
underground gold portfolio in Nevada."
Granite Creek Underground High-Grade Assay Results
Granite Creek Underground, i-80's first underground gold operation,
continues to progress ramp-up activities toward steady state gold
output. An infill and step-out drilling campaign on the South Pacific
Zone began in June from both surface and underground (see Figure 2
in Appendix). To date, 20 of the 40 holes planned over approximately
14,000 meters have been completed. New assay results from the first
six holes are provided in the table below and continue to show robust
high-grade mineralization throughout the South Pacific Zone and
suggest potential to continue to expand the South Pacific Zone to the
north and at depth.
Hole iGS25-02A represents the most northerly and deepest hole
drilled to date in the South Pacific Zone, which intersected the primary
fault structures where expected and returned grades of 33.6 g/t gold
over 2.9 meters and 29.7 g/t gold over 3.6 meters.
This program aims to convert mineral resources from the inferred
category to the indicated category and form the basis for the
upcoming feasibility study for Granite Creek Underground, which is
planned for completion in the first quarter of 2026. The feasibility study
will incorporate an updated mineral resource estimate reflecting drill
results over the past two years, including the current drill program.
Table 1: Summary Assay Results from South Pacific Zone Drilling
Drillhole ID Zone Type From (m) To (m) Length (m) Au (g/t)
iGS25-02A SPZ Core 616.6 619.5 2.9 33.6
And SPZ Core 622.7 625.4 2.7 7.5
And SPZ Core 634.1 637.7 3.6 29.7
iGU25-01 SPZ Core 116.6 122.2 5.7 20.8
iGU25-02 SPZ Core 53.1 54.8 1.7 12.4
And SPZ Core 95.1 100.1 5.0 12.2
And SPZ Core 106.1 109.3 3.3 16.2
iGU25-03 SPZ Core 52.5 59.7 7.2 7.2
And SPZ Core 113.5 117.0 3.4 11.4
iGU25-04 SPZ Core 63.7 69.2 5.5 10.4
iGU25-05 SPZ Core 244.8 247.8 3.0 11.4
True widths estimated 80-95%.
Table 1a: Collar Coordinates
UTM Drillhole ID East m North m Elevation m Azimuth Dip
NAD83
Zone 11
iGS25-02A 478736 4554389 1541 309 -75
iGU25-01 478414 4554275 1258 293 -13
iGU25-02 478414 4554274 1257 285 -17
iGU25-03 478414 4554273 1257 277 -24
iGU25-04 478415 4554274 1257 287 -40
iGU25-05 478521 4554325 1259 341 -71
Cove Infill Drilling Update
At Cove, approximately 45,000 meters of infill drilling have been
completed over the last two years. Drilling was conducted across the
Gap and Helen zones on approximately 30 meter spacing (see Figure
3 in Appendix). The result of this work provides the Company with a
more robust geological model, greater understanding of the gold
mineralization at Cove, and increased confidence in future mineral
resource delineation as the Company continues to work towards
completing a feasibility study for Cove, planned for the first quarter of
2026 (the "2026 Cove FS"), which will replace the preliminary
economic assessment for Cove filed in March 2025 (the "2025 Cove
PEA"(1)).
Approximately 15% of the known mineralization is oxidized in the
upper portions of the Helen zone. This material is expected to be
processed at the Company's Lone Tree central processing facility(2)
bypassing the autoclave circuit of the plant. The remainder of the
known mineralization is sulfide material that is planned to be
processed by either autoclaving or roasting for optimal gold recovery.
The Company has a third-party roasting agreement in place.
Based on this additional work, it is now anticipated that the
forthcoming mineral resource estimate for Cove – to be included in the
2026 Cove FS – is expected to reflect a conversion of currently
estimated inferred and indicated resources into higher confidence
categories of resource classification. These results further validate the
Company's understanding of Cove as representing a Carlin-style
mineralized system with an anticipated high degree of mineral
resource conversion through additional drilling. The Company has
engaged SRK Consulting ("SRK") to complete the 2026 Cove FS.
Additional work required by the Company to release the 2026 Cove
FS has not yet been completed and the results of work completed to
date are subject to further confirmation and verification by the
Company and SRK. i-80 and SRK are focused on advancing directly
to the completion of the 2026 Cove FS by the first quarter of 2026,
which will include the results of the infill drill program discussed
herein.
Technical Disclosure and Qualified Persons
The technical information contained in this press release has been
prepared under the supervision of, and has been reviewed and
approved by Paul Chawrun P.Eng., Chief Operating Officer, and Tyler
Hill CPG., Vice President, Geology for the Company, each of whom
are qualified persons within the meaning of National Instrument 43-
101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and
Subpart 1300 of Regulation S-K ("S-K 1300").
For a description of the data verification, assay procedures and the
quality assurance program and quality control measures applied by
the Company, please see the Company's Form 10-K for the fiscal year
ended December 31, 2024. For further information about the 2025
Cove PEA referenced in this news release, including information in
respect of key assumptions, parameters, risks and other factors,
please see the 2025 Cove PEA. Both the Form 10-K and 2025 Cove
PEA are available on EDGAR at www.sec.gov/edgar and SEDAR+ at
www.sedarplus.ca. Mineral resources do not have demonstrated
economic viability and are not mineral reserves.
Endnotes
(1) The 2025 Cove PEA was prepared in accordance with NI 43-101. An Initial Assessment for the Cove Project ("S-K 1300
Report") was also prepared in accordance with S-K 1300 and Item 601 of the Regulation S-K and the S-K 1300 Report will
be filed on EDGAR at www.sec.gov. Both reports are filed under the Company's issuer profile on SEDAR+ at
www.sedarplus.ca and on the Company's website at www.i80gold.com. The mineral estimates and project economics are
the same under the 2025 PEA and the S-K 1300 Report.
(2) Pending the completion of the Lone Tree processing facility refurbishment Class 3 engineering study (where a series of
trade-off scenarios will be considered comparing full autoclave refurbishment to alternate toll milling and mineralized material
purchase agreement options that could potentially be available), Board approval, and the successful funding, development,
and commissioning of the Company's Lone Tree autoclave processing facility.
About i-80 Gold Corp.
i-80 Gold Corp. is a Nevada-focused mining company committed to
building a mid-tier gold producer through a new development plan to
advance its high-quality asset portfolio. The Company is the fourth
largest gold mineral resource holder in the state with a pipeline of
high-grade development and production-stage projects strategically
located in Nevada's most prolific gold-producing trends. Leveraging its
central processing facility following an anticipated refurbishment, i-80
Gold is executing a hub-and-spoke regional mining and processing
strategy to maximize efficiency and growth. i-80 Gold's shares are
listed on the Toronto Stock Exchange (TSX: IAU) and the NYSE
American (NYSE: IAUX). For more information, visit
www.i80gold.com.
Cautionary Statement Regarding Forward Looking Information
Certain information set forth in this press release, including but not
limited to management's assessment of the Company's future plans
and operations, the perceived merit of projects or deposits, and the
impact and anticipated timing of the Company's development plan,
expectations regarding the timing, execution and results of the
Company's drilling programs, outlook on gold output, the anticipated
growth expenditures, the anticipated timing of production, project
development or technical studies, including the anticipated 2026 Cove
FS, constitutes forward looking statements or forward-looking
information within the meaning of applicable securities laws. All
statements other than statements of historical fact are forward-looking
statements. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budget", "scheduled", "estimates", "continues",
"forecasts", "projects", "predicts", "intends", "anticipates" or "believes",
or variations of, or the negatives of, such words and phrases, or state
that certain actions, events or results "may", "could", "would", "should",
"might" or "will" be taken, occur or be achieved. Readers are
cautioned that the assumptions used in the preparation of information,
although considered reasonable at the time of preparation, may prove
to be inaccurate and, as such, reliance should not be placed on
forward-looking statements. The Company's actual results,
performance or achievement could differ materially from those
expressed in, or implied by, these forward-looking statements and,
accordingly, no assurance can be given that any of the events
anticipated by the forward-looking statements will transpire or occur,
or if any of them do so, what benefits, if any, that the Company will
derive therefrom. By their nature, forward looking statements are
subject to numerous risks and uncertainties, some of which are
beyond the Company's control, including general economic and
industry conditions, volatility of commodity prices, title risks and
uncertainties, uncertainty in geological, metallurgical and geotechnical
studies and opinions, and ability to access sufficient capital from
internal and external sources such as selling assets, restructuring
debt or obtaining additional equity capital on terms that may be
onerous or highly dilutive. The Company's ability to refinance its
indebtedness will depend on the capital markets and its financial
condition at such time, currency fluctuations, construction and
operational risks, licensing and permit requirements, environmental
risks, competition from other industry participants, the lack of
availability of qualified personnel or management, imprecision of
mineral resource, or production estimates.
Please see "Risks Factors" in the Form 10-K for the fiscal year ended
December 31, 2024 for more information regarding risks pertaining to
the Company, which is available on EDGAR at www.sec.gov/edgar
and SEDAR+ at www.sedarplus.ca. Readers are encouraged to
carefully review these risk factors as well as the Company's other
filings with the U.S. Securities and Exchange Commission and the
Canadian Securities Administrators. All forward-looking statements
contained in this press release speak only as of the date of this press
release or as of the dates specified in such statements. The Company
disclaims any intention or obligation to update or revise any forward-
looking statements, whether as a result of new information, future
events or otherwise except as required by applicable law.
Additional information relating to i-80 Gold can be found on i-80 Gold's
website at www.i80gold.com, SEDAR+ at www.sedarplus.ca, and on
EDGAR at www.sec.gov/edgar. The information included on, or
accessible through, the Company's website is not incorporated by
reference into this press release.
Figure 1: Regional Map of i-80 Gold assets in northern Nevada. (CNW
Group/i-80 Gold Corp)
Figure 2: Inclined long section along South Pacific Zone (looking
northwest) at Granite Creek Underground. (CNW Group/i-80 Gold
Corp)
Figure 3: Cove longitudinal section of mineralized bodies and drill
holes (looking northeast). (CNW Group/i-80 Gold Corp)
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For further information: For further information, please contact: Leily
Omoumi, SVP Corporate Development & Strategy, 1.866.525.6450,
[email protected], www.i80gold.com
CO: i-80 Gold Corp
CNW 06:00e 10-SEP-25