i-80 Gold Announces High-Grade Drill Results from Granite Creek Highlights 28.1 g/t Au over 4.4 m , 10.6 g/t Au over 9.4 m & 13.6 g/t Au over 5.2 m
i-80 Gold Announces High-Grade Drill Results from
Granite Creek
Highlights 28.1 g/t Au over
4.4 m
, 10.6 g/t Au over
9.4 m
& 13.6 g/t Au over
5.2 m
RENO, Nev.
,
Feb. 7, 2024
/CNW/ -
i-80 GOLD CORP.
(TSX: IAU) (NYSE: IAUX)
("i-80", or the "Company")
is pleased to
announce the results from the successful 2023 surface drilling program designed to define and expand high-grade gold
mineralization in the lower South Pacific Zone at the Company's Granite Creek Property ("
Granite Creek
" or "
the
Property
") located in
Humboldt County, Nevada
.
The South Pacific Zone ("
SPZ
") is expected to become the primary horizon for mining once initial development has been
extended to provide access. In the second half of 2023, drilling was completed from underground in the upper portion of the
SPZ where initial stoping is expected and where recently released results include
31.1 g/t Au over
21.9 m
, 28.7 g/t over
16.5 m
and 37.7 g/t Au over
7.6 m
. Thirteen holes were drilled from surface (twelve reached target) to better define an
area where initial drilling suggested the potential for increased grades and mining widths – these results are summarized in
this release.
Highlight results from 2023 surface drilling in the South Pacific Zone (core width)
26.1 g/t Au over
5.7 m
(0.76 oz/ton Au over 18.7 feet) in hole iGS23-01*
10.6 g/t Au over
9.4 m
(0.31 oz/ton Au over 30.9 feet) in hole iGS23-02A
25.6 g/t Au over
5.5 m
(0.75 oz/ton Au over 18.2 feet) in hole iGS23-03*
28.1 g/t Au over
4.4 m
(0.82 oz/ton Au over 14.5 feet) in hole iGS23-04
15.5 g/t Au over
19.7 m
(0.45 oz/ton Au over 64.7 feet) in hole iGS23-05*
8.3 g/t Au over
8.7 m
(0.24 oz/ton Au over 28.2 feet) in hole iGS23-08
27.0 g/t Au over
2.1 m
(0.79 oz/ton Au over 6.9 feet) in hole iGS23-09
13.6 g/t Au over
5.2 m
(0.40 oz/ton Au over 17.2 feet) in hole iGS23-10A
* Previously released
The South Pacific Zone is a sub-vertical,
Carlin
-type, mineralized horizon that occurs predominately at the faulted contact of
the Upper and Lower Comus (limestone) rock units. Following successful 2021/2022 drilling campaigns that identified a
continuous zone of high-grade mineralization over a significant strike length in the SPZ target, the 2023 surface and
underground drilling programs targeted the definition of two areas within this horizon to assess continuity of mineralization in
preparation for initial mine planning (see Figure 1). Both programs have been extremely successful, demonstrating true
widths of up to 15 metres and results frequently in excess of 10 g/t Au.
With improved definition, an initial SPZ development plan is being advanced in the first half of 2024. Upon completion of a
successful test mining program, additional underground drilling will be completed for the release of an updated resource
estimate and Feasibility Study. The SPZ remains open for expansion at depth and along strike to the north towards
Nevada
Gold Mines'
Turquoise Ridge Mine (see Figure 2). Table 1 provides a summary of results from surface definition drilling in
the SPZ in 2023.
"The continuity of high-grade mineralization in the South Pacific Zone is outstanding.", stated
Ewan Downie
, Chief Executive
Officer of i-80. "The results from our 2023 definition programs demonstrate the potential for the SPZ to be a significant
deposit located on strike from one of
North America's
largest gold mining operations. Mineralization remains open at depth
and along strike to the north with the average intercept grade in the northern extension definition program of approximately
15 g/t gold with true widths ranging up to 15 metres."
Figure 1 – Long Section View (CNW Group/i-80 Gold Corp)
Figure 2 – Property Location Map (CNW Group/i-80 Gold Corp)
Table 1 – Summary of Assay Results from 2023 Surface Drilling in SPZ
2023 Drill Results from Granite Creek, estimated true widths 70-90%
Drillhole ID
Type
From (m)
To (m)
Length (m)
Au (g/t)
iGS23-01*
Core
458.1
463.8
5.7
26.1
iGS23-02A
Core
432.8
442.2
9.4
10.6
iGS23-03B*
Core
459.1
464.7
5.5
25.6
iGS23-04
Core
453.5
458.0
4.4
28.1
iGS23-05*
Core
465.9
485.6
19.7
15.5
iGS23-06B
Core
458.2
460.5
2.3
10.6
and
Core
465.9
467.3
1.3
18.6
iGS23-07
Core
477.1
478.2
1.1
27.9
iGS23-08
Core
477.7
486.3
8.7
8.3
and
Core
499.7
501.1
1.4
30.9
iGS23-09
Core
529.5
531.6
2.1
27.0
iGS23-10A
Core
469.5
474.8
5.2
13.6
iGS23-11
Core
Hole abandoned at 183 m
iGS23-12A
Core
441.7
443.6
1.9
5.5
iGS23-13B
Core
490.4
492.3
1.8
16.1
*Previously released assay
Table 1a - Collar Coordinates
UTM
Drillhole ID
East m
North m
Elevation m
Azimuth
Dip
NAD83 Zone 11
iGS23-01
478547
4554155
1471
331
-51
iGS23-02A
478549
4554154
1471
323
-49
iGS23-03B
478547
4554158
1471
329
-54
iGS23-04
478580
4554202
1467
327
-58
iGS23-05
478581
4554202
1467
322
-60
iGS23-06B
478576
4554413
1552
289
-76
iGS23-07
478582
4554415
1552
291
-80
iGS23-08
478579
4554414
1552
292
-82
iGS23-09
478582
4554413
1552
333
-80
iGS23-10A
478524
4554452
1558
295
-83
iGS23-11
478522
4554448
1558
325
-85
iGS23-12A
478527
4554455
1558
343
-81
iGS23-13B
478523
4554450
1558
006
-81
The SPZ is a priority for development and the Company is extending the decline to depth in order to provide access to the
SPZ for it the become part of the Granite Creek mine plan in H1-2024. High-grade mineralization at Granite Creek occurs in
a similar geological setting to the multi-million-ounce Turquoise Ridge Mine located immediately 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.
Please
click here
for further information on abbreviations and conversions referenced in this press release.
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
analysed using Au-AA23 (ALS) (Au; 30g fire assay) and ME-ICP41 (36 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
Tyler Hill
, CPG-12146, Chief Geologist, 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 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 facilities. i-80 Gold's common shares are listed on the TSX and the NYSE American under the trading
symbol
IAU:TSX
and
IAUX:NYSE
. Further information about i-80 Gold's portfolio of assets and long-term growth strategy is
available at
www.i80gold.com
or by email at
.
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 - Executive Vice-President,
1.866.525.6450, [email protected], www.i80gold.com
CO: i-80 Gold Corp
CNW 06:00e 07-FEB-24