i-80 Gold Announces High-Grade Results from Underground Drilling at Cove Initial Results from the Helen Zone Include 25.4 g/t Au over 20.1 m , 28.0 g/t Au over 10.4 m and 21.0 g/t Au over 10.8 m
i-80 Gold Announces High-Grade Results from Underground
Drilling at Cove
Initial Results from the Helen Zone Include 25.4 g/t Au over
20.1 m
, 28.0 g/t Au over
10.4 m
and 21.0 g/t Au over
10.8 m
RENO, Nev.
,
Nov. 20, 2023
/CNW/ -
i-80 GOLD CORP.
(TSX: IAU) (NYSE: IAUX)
("i-80",
or the
"Company")
is pleased to
announce positive results from ongoing underground drilling at the Company's 100%-owned McCoy-Cove Property ("
Cove
" or "
the
Property
") located in
Lander County, Nevada
. The new results are from definition drilling in the CSD/Gap Zone and initial drilling in the
Helen Zone that continue to confirm continuity of high-grade mineralization in both horizons.
Drilling is now underway to define the Helen Zone, confirming high-grade mineralization over appreciable widths with intercepts up to
25.4 g/t Au over 20.1 metres
. The initial holes are designed to define the western-most extremity of the deposit prior to proceeding
east into the heart of the deposit (see Figures 2 & 3). Initial results have been extremely positive, similar to what was encountered in
the initial drilling of the Gap Zone, where previously released results include intercepts of up to
7.0 g/t Au over
119.6 m
in hole iRH23-
14 that included four higher-grade zones of gold mineralization of up to
10.6 g/t Au over
38.3 m
. This release also includes results
from drilling in the northwest extremity of the CSD/Gap Zone. A complete summary of new results is provided in Table 1.
Highlight new results from 2023 drilling program at Cove include:
CSD/Gap Zone
iCHU23-19:
15.7 g/t Au & 16.8 g/t Ag over
4.5 m
iCHU23-20: 7.6 g/t Au & 2.0 g/t Ag over
12.2 m
iCHU23-22: 21.8 g/t Au & 4.8 g/t Ag over
10.3 m
Helen Zone
iCHU23-23: 28.0 g/t Au & 5.1 g/t Ag over
10.4 m
And 21.0 g/t Au & 7.4 g/t Ag over
10.8 m
iCHU23-24: 18.0 g/t Au & 9.4 g/t Ag over
4.6 m
iCHU23-25: 11.1 g/t Au & 14.4 g/t Ag over
3.7 m
And 7.8 g/t Au & 3.7 g/t Ag over
6.7 m
And 15.4 g/t Au & 3.3 g/t Ag over
1.6 m
iCHU23-26: 8.4 g/t Au & 2.7 g/t Ag over
9.1 m
iCHU23-28: 25.4 g/t Au & 5.1 g/t Ag over
20.1 m
And 8.8 g/t Au & 2.4 g/t Ag over
8.5 m
"Results continue to confirm that the Cove deposit is one of
North America's
highest-grade gold deposits.", stated
Ewan Downie
, CEO
of i-80 Gold. "These results, when combined with previously released results, highlight Cove as a Tier 1 Nevada deposit.
Mineralization remains open for expansion and significant exploration targets exist on the large land package."
To date, 40 holes have been completed (28 with results released) out of approximately 120 holes planned that will comprise more
than 40,000 metres on approximate 30 metre centers in advance of an updated resource estimate and economic study. This program
is focused on the CSD Gap and Helen Zone portions of the deposit while mineralization below the pit in the Cove South Deep and
2201 deposits is not being drilled as part of this program (Figures 2 & 3).
Figure 1 – Portal and Decline at Cove (CNW Group/i-80 Gold Corp)
Table 1 – Highlight New Assay Results from Cove Underground Drilling
New 2023 results from McCoy-Cove, estimated true thickness 80-95%
Drillhole ID
Zone
Type
From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
iCHU23-19
CSD Gap
Core
255.5
260.0
4.5
15.7
16.8
iCHU23-20
CSD Gap
Core
262.7
274.9
12.2
7.6
2.0
iCHU23-21
CSD Gap
Core
342.0
350.4
8.4
5.7
3.7
and
CSD Gap
Core
354.5
357.5
3.0
10.8
62.9
iCHU23-22
CSD Gap
Core
257.2
260.0
2.8
10.4
6.4
and
CSD Gap
Core
269.0
271.1
2.1
13.5
3.2
and
CSD Gap
Core
316.2
326.4
10.3
21.8
4.8
iCHU23-23
Helen
Core
256.6
267.0
10.4
28.0
5.1
and
Helen
Core
291.7
302.5
10.8
21.0
7.4
iCHU23-24
Helen
Core
247.9
249.4
1.5
19.0
5.7
and
Helen
Core
278.7
283.3
4.6
18.0
9.4
iCHU23-25
Helen
Core
133.1
136.8
3.7
11.1
14.4
and
Helen
Core
218.2
224.9
6.7
7.8
3.7
and
Helen
Core
252.1
253.7
1.6
15.4
3.3
iCHU23-26
Helen
Core
257.0
266.2
9.1
8.4
2.7
iCHU23-27
Helen
Core
117.4
120.7
3.3
7.5
2.9
and
Helen
Core
136.9
144.4
7.5
5.9
4.8
and
Helen
Core
264.0
270.1
6.1
6.7
1.6
iCHU23-28
Helen
Core
247.9
254.1
9.9
6.2
1.9
and
Helen
Core
266.0
274.5
8.5
8.8
2.4
and
Helen
Core
306.5
326.7
20.1
25.4
5.1
UTM
Drillhole ID
East m
North m
Elevation m
Azimuth
Dip
NAD83 Zone 11
iCHU23-19
482177
4465776
1417
001
-86
iCHU23-20
482127
4465702
1414
103
-81
iCHU23-21
482127
4465703
1414
083
-87
iCHU23-22
482127
4465704
1414
048
-83
iCHU23-23
481770
4466009
1428
258
-82
iCHU23-24
481770
4466010
1428
261
-72
iCHU23-25
481770
4466010
1428
278
-72
iCHU23-26
481770
4466011
1428
288
-73
iCHU23-27
481771
4466011
1428
302
-79
iCHU23-28
481771
4466011
1428
306
-86
Figure 2 – 3D View of the Cove Deposit and Drill Program (CNW Group/i-80 Gold Corp)
Figure 3 – Surface Plan View of the Cove-Helen Deposit (CNW Group/i-80 Gold Corp)
Cove is one of three projects currently being advanced to realize the Company's goal of becoming one of the largest producers in
Nevada
. In addition to the underground drill program at Cove, the Company is completing a 40-day pump test for the completion of a
final hydrological model for the Property and final mine permitting.
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-MS61 (35 element suite; 0.4g 4 acid/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 at i-80 is the Qualified Person for the information contained in this press release and is a
Qualified Person within the meaning of National Instrument 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 McCoy-Cove and the potential of the
Cove 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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i-80 Gold Corp
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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 20-NOV-23