i-80 Gold Announces High-Grade Results from Underground Drilling at Cove Results from the Helen Zone Include 14.4 g/t Au over 20.2 m , 12.7 g/t Au over 24.4 m and 14.3 g/t Au over 8.0 m
i-80 Gold Announces High-Grade Results from Underground
Drilling at Cove
Results from the Helen Zone Include 14.4 g/t Au over
20.2 m
, 12.7 g/t Au over 24.4 m
and 14.3 g/t Au over
8.0 m
RENO, Nev.
,
Feb. 13, 2024
/CNW/ -
i-80 GOLD CORP.
(TSX: IAU) (NYSE: IAUX)
("i-80",
or the
"Company")
is pleased to
announce continued 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 drilling completed in 2023 designed to define the Helen Zone, the first horizon expected to be accessed at
the Cove Mine. The program continues to confirm high-grade mineralization over appreciable thickness, with several holes intersecting
multiple lenses in the western-most extremity of the deposit (see Figures 2 & 4). Helen Zone results compare favourably with initial
results from the Gap Zone where previously released results included intercepts of up to
12.9 g/t Au over
36.1 m
in hole iCHU23
04,
14.9 g/t Au over
32.7 m
in hole iCHU23-10,
18.9 g/t Au over
29.3 m
in hole iCHU23-11, and
7.0 g/t Au over
119.6 m
in hole
iCHU23-14 (including four higher-grade zones of gold mineralization of up to
10.6 g/t Au over
38.3 m
)
. This release includes results
from drilling in the northwest portion of the Helen Zone with a complete summary provided in Table 1.
Highlight new results from the 2023 drilling program at McCoy-Cove include:
Helen Zone
iCHU23-33: 14.4 g/t Au over
20.2 m
And 13.3 g/t Au over
3.7 m
iCHU23-34: 12.7 g/t Au over
24.4 m
iCHU23-35: 10.1 g/t Au over
7.9 m
And 14.3 g/t Au over
8.0 m
iCHU23-36: 9.7 g/t Au over
9.6 m
And 33.9 g/t Au over
2.8 m
"Deposits with continuous high-grade gold mineralization over substantial widths like those at Cove are rare.", stated
Tyler Hill
, Chief
Geologist of i-80 Gold. "Our ongoing program continues to confirm that Cove is one of the highest-grade, development-stage, projects
in
North America
. Mineralization remains open for expansion and significant exploration targets exist on the large land package."
The McCoy-Cove Property is strategically located in the prolific Battle Mountain Trend immediately south of
Nevada Gold Mines'
Phoenix Mine and located within 83 km of the Company's
Lone Tree
processing facility (see Figure 1). It 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 recently completed a 40-day pump test for the completion of a final hydrological
model and full mine permitting.
The program being completed will consist of approximately 120 holes comprising more than
40,000 m
of drilling on approximate 30
metre spacing 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 zones are not being drilled as part of
this program, (Figure 3) but offer a significant upside opportunity.
Figure 1 – Property Location Map (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 75-95%
Drillhole ID
Zone
Type
From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
iCHU23-29
Helen
Core
223.1
230.5
7.4
7.0
1.8
iCHU23-30
Helen
Core
268.3
271.5
3.2
12.6
1.3
and
Helen
Core
284.4
285.4
1.0
37.8
6.1
iCHU23-31
Helen
Core
132.7
133.7
1.1
33.8
5.4
and
Helen
Core
140.8
143.8
3.0
19.2
3.1
and
Helen
Core
243.2
249.7
6.5
7.3
0.9
iCHU23-32
Helen
Core
148.2
153.3
5.1
7.0
3.3
and
Helen
Core
221.4
224.0
2.6
12.2
0.4
and
Helen
Core
270.2
272.7
2.5
14.5
3.0
and
Helen
Core
284.4
291.3
6.9
8.4
2.5
and
Helen
Core
295.4
296.8
1.4
21.3
11.8
and
Helen
Core
334.9
336.4
1.5
7.1
1.3
iCHU23-33
Helen
Core
290.4
310.6
20.2
14.4
3.2
and
Helen
Core
321.1
324.8
3.7
13.3
3.6
iCHU23-34
Helen
Core
271.6
295.9
24.4
12.7
1.5
iCHU23-35
Helen
Core
270.1
274.0
4.0
11.9
1.1
and
Helen
Core
283.2
290.8
7.6
6.8
2.0
and
Helen
Core
303.6
311.5
7.9
10.1
4.0
and
Helen
Core
323.6
331.6
8.0
14.3
5.8
and
Helen
Core
337.7
341.1
3.3
7.9
1.6
iCHU23-36
Helen
Core
268.7
278.3
9.6
9.7
1.2
and
Helen
Core
299.6
302.4
2.8
33.9
11.9
UTM
Drillhole ID
East m
North m
Elevation m
Azimuth
Dip
NAD83 Zone 11
iCHU23-29
481771
4466011
1427
311
-67
iCHU23-30
481771
4466012
1428
323
-78
iCHU23-31
481772
4466012
1428
000
-77
iCHU23-32
481772
4466011
1428
355
-83
iCHU23-33
481773
4466012
1428
019
-80
iCHU23-34
481773
4466011
1428
045
-77
iCHU23-35
481773
4466011
1428
073
-82
iCHU23-36
481774
4466011
1428
087
-77
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 Deposit (CNW Group/i-80 Gold Corp)
Figure 4 – Cross-section through Helen Zone (CNW Group/i-80 Gold Corp)
The Helen and CSD Gap zones are comprised of Carlin-style mineralization hosted primarily in the Favret limestone. Enhanced grades
and thicknesses of mineralized zones occur at structural intersections, along the margins of dikes and sills, and within the axis of the
northwest striking Cove anticline. The McCoy-Cove Property comprises a large package of approximately 13,000 hectares covering
an area roughly 15 km by 10 km that offers substantial exploration upside as the bulk of work completed to-date has been focused on
the main deposit areas. This work has resulted in several new discoveries that have received little to no follow-up including polymetallic
mineralization in the 2201 and Davenport targets. Previous drilling at the 2201, mostly completed in 2014, intersected gold-rich
polymetallic veins that returned intercepts up to
182.9 g/t Au over
1.5 m
in hole PG14-02 and
40.2 g/t Au over
4.9 m
in hole PG14-
03. Additionally, polymetallic sulphide mineralization intersections returned intercepts up to
4.7 g/t Au, 311.1 g/t Ag, 4.4% Pb and
8.2% Zn over
3.0 m
in hole PG-02 and
1.1 g/t Au, 132.5 g/t Ag, 0.6% Pb and 9.0% Zn over
7.1 m
in hole PG14
08. A single hole
(PB18-02) drilled in 2018 east of the Cove pit intersected
5.1 g/t Au, 410.3 g/t Ag, 5.0% Pb & 5.7% Zn over
2.7 m
in the Davenport
target that has yet to be followed-up. Only three holes have been drilled to the Favret limestone in the pediment area to the east of
the Cove pit where the Company believes there is the potential to discover another significant deposit. One hole completed in the
pediment was drilled approximately one kilometre to the east of the Cove pit and intersected
1.7 g/t Au and 364 g/t Ag over
11.4 m
proximal to an interpreted large untested structural trend that is a major future exploration target.
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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For further information:
Ewan Downie - CEO; Matt Gili - President & COO; Matthew Gollat - Executive Vice-President,
1.866.525.6450, [email protected]
CO: i-80 Gold Corp
CNW 06:00e 13-FEB-24