Granite Creek Underground Drilling Intersects High-Grade Gold Mineralization Highlight results include 16.0 g/t Au over 33.9 m and 24.4 g/t Au over 14.6 m
Granite Creek Underground Drilling Intersects High-Grade Gold
Mineralization
Highlight results include 16.0 g/t Au over
33.9 m
and 24.4 g/t Au over
14.6 m
Reno, Nev.
,
Aug. 3, 2022
/CNW/ -
i-80 GOLD CORP.
(TSX: IAU) (NYSE: IAUX)
("i-80", or the "Company")
is pleased to announce
continued positive results from the ongoing underground drill program at the Company's Granite Creek Mine Property ("
Granite Creek
"
or "
the Property
") located in
Humboldt County, Nevada
.
The 2022 underground drill program at Granite Creek is focused on delineating mineralization for mining and upgrading and expanding
resources. In the upper parts of the mine, high-grade gold mineralization is being defined in the Otto/Adam Peak/Range Front horizons,
while from the lower levels drilling is focused on defining mineralization in the Ogee Zone that is expected to be the primary zone in the
near future (see Figure 1).
Highlight new results from 2022 underground drilling:
8.6 g/t Au over
10.3 m
(0.25 oz/ton Au over 33.7 feet) in hole iGU22-17 – Ogee Zone
18.4 g/t Au over
9.1 m
(0.54 oz/ton Au over 30.0 feet) in hole iGU22-18 –
Otto Zone
13.8 g/t Au over
5.7 m
(0.40 oz/ton Au over 18.
8 feet) in hole iGU22-26 – Range Front Zone
24.4 g/t Au over
14.6 m
(0.71 oz/ton Au over 48.0 feet) in hole iGU22-30 –
Adam Peak Zone
26.4 g/t Au over
5.0 m
(0.77 oz/ton Au over 16.4 feet) in hole iGU22-42 – Ogee Zone
23.1 g/t Au over
5.0 m
(0.67 oz/ton Au over 16.4 feet) in hole iGU22-43 – Ogee Zone
16.0 g/t Au over
33.9 m
(0.47 oz/ton Au over 111.3 feet) in hole iGU22-45 – Ogee Zone
The underground zones at Granite Creek will be included in a resource update following the 2022 program that is expected to comprise
approximately 30,000 meters of drilling from both surface, focused on the South Pacific Zone, and the underground Ogee, Otto and
Adams Peak Zones. Table 1 provides a complete summary of new results from the 2022 underground drilling program.
The company is currently mining a bulk sample from the underground zones to deliver an initial 10,000 tons to
Nevada Gold Mines'
nearby Twin Creeks Mine (See Figure 2) for a metallurgical test, as per the processing agreement, which will allow for the deposit to be
developed and ramped up for continuous mining.
"The drill program continues to define high-grade mineralization over substantial widths, particularly within the Ogee Zone that remains
open for expansion at depth", stated
Tyler Hill
, Senior Geologist of i-80.
The Granite Creek Property is strategically located proximal to
Nevada Gold Mines'
Turquoise Ridge and Twin Creeks mines at the
north end of the Battle Mountain-Eureka Trend, at its intersection with the Getchell gold belt in
Nevada
. High-grade mineralization occurs
in a near-identical geological setting as that at the multi-million-ounce Turquoise Ridge Mine located immediately to the north (see Figure
2); proximal to a major regional fault (the Getchell or Range Front fault) on the eastern edge of the large Osgood Mountains intrusive
complex. The Granite Creek deposit remains open at depth and along strike from the existing underground workings.
Table 1 – Summary of New Assay Results from 2022 Underground Drilling
2022 Drill Results from Granite Creek, estimated true widths 60-90%
Drillhole ID
Zone
Type
From (m)
To (m)
Length (m)
Au (g/t)
iGU22-17
Ogee
Core
178.7
192.0
13.4
7.5
Incl.
Core
181.1
191.4
10.3
8.6
iGU22-18
Otto
Core
69.5
78.6
9.1
18.4
iGU22-19
Otto
Core
51.5
53.3
1.8
5.2
iGU22-20
Ogee
Core
190.0
193.2
3.3
9.1
And
Otto
Core
308.8
312.7
4.0
8.3
And
Adam Peak
Core
331.8
334.1
2.3
5.3
And
Adam Peak
Core
342.4
345.3
2.9
8.2
And
Range Front
Core
352.3
353.3
1.0
17.9
iGU22-21
Otto
Core
Hole lost before target
NSI
iGU22-22
Otto
Core
64.0
64.9
0.9
6.0
iGU22-23
Range Front
Core
48.2
49.2
1.0
7.5
iGU22-24
Ogee
Core
144.2
147.2
3.0
19.8
iGU22-25
Otto
Core
NSI
iGU22-26
Otto
Core
59.4
61.6
2.1
11.1
And
Range Front
Core
111.3
117.0
5.7
13.8
Incl.
Core
111.3
113.9
2.6
23.4
iGU22-27
Ogee
NSI
iGU22-28
Otto
Core
26.8
28.7
1.8
8.8
And
Adam Peak
Core
72.8
75.9
3
7.4
And
Range Front
Core
104.8
107.8
3.0
4.9
And
Range Front
Core
115.5
116.6
1.1
19.5
iGU22-29
Core
NSI
iGU22-30
Linehole
Core
91.1
94.9
3.7
7.8
And
Linehole
Core
98.0
99.2
1.2
6.8
And
Ogee
Core
155.8
158.8
3.0
27.9
And
Otto
Core
251.0
258.0
7.0
7.0
And
Adam Peak
Core
296.9
311.5
14.6
24.4
iGU22-31
Otto
Core
NSI
iGU22-32
Otto
Core
NSI
iGU22-33
Range Front
Core
78.6
82.4
3.8
5.7
And
Range Front
Core
101.5
103.0
1.5
7.9
iGU22-34
Otto
Core
NSI
iGU22-35
Otto
Core
NSI
iGU22-36
Ogee
Core
Hole lost before target
NSI
iGU22-37
Otto
Core
NSI
iGU22-38
Range Front
Core
82.6
84.0
1.4
8.3
iGU22-39
Range Front
Core
89.5
92.8
3.4
6.4
iGU22-40
Range Front
Core
92.9
93.9
1.0
3.9
iGU22-41
Core
Assays Pending
iGU22-42
Ogee
Core
177.7
182.7
5.0
26.4
iGU22-43
Ogee
Core
84.6
89.6
5.0
23.1
And
Ogee
Core
97.8
99.8
2.0
9.0
iGU22-43B
Core
Assays Pending
iGU22-44
Ogee
Core
175.6
181.1
5.5
12.3
And
Ogee
Core
195.7
197.3
1.6
20.0
And
Ogee
Core
205.0
206.5
1.6
12.9
iGU22-45
Ogee
Core
152.6
186.5
33.9
16.0
iGU22-46
Ogee
Core
281.3
283.9
2.6
39.5
Table 1a - Collar Coordinates
UTM
Drillhole ID
East m
North m
Elevation m
Azimuth
Dip
NAD83 Zone 11
iGU22-17
478249
4554071
1453
326
-55
iGU22-18
478070
4554189
1388
010
-48
iGU22-19
478070
4554189
1388
351
-64
iGU22-20
478249
4554070
1453
340
-55
iGU22-21
478068
4554187
1387
240
-32
iGU22-22
478069
4554187
1387
289
-84
iGU22-23
478066
4554187
1388
273
-17
iGU22-24
478249
4554070
1453
336
-64
iGU22-25
478066
4554187
1388
273
-20
iGU22-26
478164
4554216
1400
290
-57
iGU22-27
478249
4554071
1453
349
-56
iGU22-28
478103
4554242
1415
331
-21
iGU22-29
478103
4554242
1415
331
-4
iGU22-30
478249
4554070
1453
329
-67
iGU22-31
478103
4554241
1415
321
-7
iGU22-32
478102
4554241
1415
316
-19
iGU22-33
478103
4554243
1416
340
-5
iGU22-34
478103
4554243
1415
342
-13
iGU22-35
478103
4554243
1417
308
-7
iGU22-36
478250
4554071
1453
342
-70
iGU22-37
478105
4554239
1415
308
-26
iGU22-38
478106
4554241
1416
319
6
iGU22-39
478102
4554242
1418
320
22
iGU22-40
478103
4554242
1418
326
26
iGU22-41
478250
4554071
1453
332
-51
iGU22-42
478251
4554071
1453
352
-50
iGU22-43
478250
4554070
1453
350
-63
iGU22-43B
478250
4554070
1453
345
-64
iGU22-44
478249
4554071
1453
358
-51
iGU22-45
478251
4554071
1454
003
-37
iGU22-46
478251
4554070
1453
005
-71
Figure 1 – Cross Section View (CNW Group/i-80 Gold Corp)
Figure 2 – Property Location Map (CNW Group/i-80 Gold Corp)
QAQC Procedures
All samples were submitted to ALS Minerals (ALS) of
Sparks, NV
, which is an ISO 9001 and 17025 certified and accredited laboratory,
independent of the Company. Samples submitted through ALS are run through standard prep methods and analyzed using Au-AA23 (Au;
30g fire assay) and ME-ICP41 (35 element suite; 0.5g Aqua Regia/ICP-AES). ALS also undertakes their own internal coarse and pulp
duplicate analysis to ensure proper sample preparation and equipment calibration. i-80 Gold Corp's QA/QC program includes regular
insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results.
Qualified Person
Tim George, PE, Mine Operations Manager, reviewed the technical and scientific information contained in this press release and is a
Qualified Person within the meaning of NI 43-101.
About i-80 Gold Corp.
i-80 Gold Corp.
is a well-financed, Nevada-focused, mining company with a goal of achieving mid-tier gold producer status through the
development of multiple deposits within the Company's advanced-stage property portfolio with processing at i-80's centralized milling
facility that includes an autoclave.
www.i80gold.com
Certain statements in this release constitute "forward-looking statements" or "forward-looking information" within the meaning of
applicable securities laws, including but not limited to, the expansion or mineral resources at Granite Creek and the potential of the
Granite Creek project. Such statements and information involve known and unknown risks, uncertainties and other factors that may
cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from
any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such
statements can be identified by the use of words such as "may", "would", "could", "will", "intend", "expect", "believe", "plan", "anticipate",
"estimate", "scheduled", "forecast", "predict" and other similar terminology, or state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future
events, performance and results and speak only as of the date of this release.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future
performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of
factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information,
including, but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by
applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in
commodity prices; and the failure of exploration programs or studies to deliver anticipated results or results that would justify and
support continued exploration, studies, development or operations.
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For further information:
Ewan Downie - CEO, Matt Gili - President & COO, Matthew Gollat - EVP Business & Corporate
Development, 1.866.525.6450, [email protected]
CO: i-80 Gold Corp
CNW 06:00e 03-AUG-22