i-80 Gold Announces New High-Grade CRD Discoveries at Ruby Hill & Expands Ruby Deeps & Lowerjack Gold Horizons Results Include 226.1 g/t Silver, 10.0 % Lead, 9.7 % Zinc and 0.5 g/t Gold over 8.4 m (CRD) Also 11.6 g/t Au over
i-80 Gold Announces New High-Grade CRD Discoveries at Ruby Hill &
Expands Ruby Deeps & Lowerjack Gold Horizons
Results Include 226.1 g/t Silver, 10.0 % Lead, 9.7 % Zinc and 0.5 g/t Gold over
8.4 m
(CRD)
Also 11.6 g/t Au over
13.1 m
(Lowerjack)
RENO, Nev.
,
April 25, 2023
/CNW/ -
i-80 GOLD CORP.
(TSX: IAU) (NYSE: IAUX)
("i-80",
or the
"Company")
is pleased to announce that drilling has discovered
new lenses of high-grade poly-metallic carbonate replacement deposit type (CRD) and skarn mineralization along the Hilltop fault structure and continues to
expand mineralization in the Hilltop Zones and at the Company's 100%-owned Ruby Hill Property ("
Ruby Hill
" or "
the Property
") located in
Eureka County,
Nevada
.
Highlight results from initial 2023 drilling at Ruby Hill include:
iRH23-09:
3.4 g/t Au, 11.1 g/t Ag, & 6.7 % Zn & over
18.3 m
(Lower Hilltop Zone)
9.9 g/t Au over
5.8 m
(Ruby Deeps Zone)
9.2 % Zn & 0.1 % Cu over
3.1 m
(Geddes Zone Discovery)
iRH23-10:
0.6 g/t Au, 165.6 g/t Ag, 6.7 % Zn & 6.6 % Pb over
13.4 m
(East Hilltop CRD Discovery)
including 0.5 g/t Au, 226.1 g/t Ag, 9.7 % Zn & 10.0 % Pb over
8.4 m
3.2 g/t Au, 366.0 g/t Ag, 19.8 % Zn & 10.2 % Pb over
0.9 m
0.3 g/t Au, 63.0 g/t Ag, 13.9 % Zn, and 1.6 % Pb over
2.3 m
iRH22-69:
0.3 g/t Au, 25.3 g/t Ag, 5.8 % Zn & 0.3 % Pb over
10.7 m
(Blackjack Skarn Zone)
0.5 g/t Au, 13.5 g/t Ag, & 8.2 % Zn, over
5.0 m
11.6 g/t Au over
13.1 m
(Lowerjack Zone)
iRH22-71:
3.7 g/t Au, 116.7 g/t Ag, 7.1 % Zn & 3.5 % Pb over
4.7 m
(Blackjack Skarn Zone)
449.0 g/t Ag, 7.0 % Zn & 16.4 % Pb over
1.4 m
(Blackjack Skarn Zone)
Exploration drilling in 2022 discovered multiple zones of high-grade CRD and skarn mineralization along the newly identified Hilltop fault structure located on the
south side of the Archimedes open pit with intercepts up to 515.3 g/t Ag, 28.9 % Pb, 10.5 % Zn & 0.9 g/t Au over
28.3 m
. The 2023 drill program is focused on
delineating the known zones and testing for the potential of additional mineralization along the Hilltop fault. Early drilling has been successful in expanding
mineralization in the Hilltop horizon over a strike length of 750 metres including the discovery of new lenses of high-grade mineralization in the East Hilltop area and
also along strike to the west.
"Our 2023 drill program has picked up where we left off in 2022, expanding high-grade mineralization in several zones and resulting in multiple new discoveries.",
stated
Tyler Hill
, Chief Geologist of i-80 Gold. "These results confirm a substantial mineralized system that remains open for expansion making us optimistic of
further discoveries as several of our priority targets remain to be tested."
CRD massive and semi-massive sulphide mineralization has been discovered in the East Hilltop target area between the Upper Hilltop Zone and the East Hilltop
Skarn Zone (
See Figures
1 & 2). The first hole to intersect this new zone of CRD mineralization, iRH23-10, returned multiple high-grade intercepts including 0.5 g/t
Au, 226.1 g/t Ag, 9.7 % Zn and 10.0 % Pb over
8.4 m
& 3.2 g/t Au, 366.0 g/t Ag, 19.8 % Zn and 10.2 % Pb over
0.9 m
with full results provided in Table 1.
Definition and expansion drilling is underway and the horizon remains open along strike and at depth.
Step-out drilling along the western extension of the Hilltop fault structure has resulted in the discovery of high-grade CRD and high-grade carlin-type gold
mineralization with hole iRH22-09 intersecting multiple zones including 3.4 g/t Au, 11.0 g/t Ag, 6.8 % Zn over
18.3 m
(Hilltop West), 9.9 g/t Au over
5.8 m
(Ruby
Deeps extension) and 9.2 % Zn over
3.0 m
(Geddes CRD discovery). The Hilltop West intercept consists of a broad zone of CRD breccia proximal to the Holly
fault and located approximately
250 m
west of the Lower Hilltop Zone. High-grade gold mineralization occurs immediately below the breccia mineralization and is
believed to represent the southern extension of the Ruby Deeps gold deposit located approximately 200 metres to the north. Ongoing drilling is now focused on
testing the area between these two zones. The Geddes CRD discovery consists of high-grade massive sulphide mineralization located in the footwall of the Holly
fault structure in area of no previous drilling. The Geddes CRD zone represents a new mineralized stratigraphic unit in the Geddes limestone that has seen only a
handful of drillholes across the property.
Drilling is also focused on defining and expanding mineralization in the Upper, Lower and East Hilltop Zones. Since the initial discovery of the Hilltop Zone in mid-
2022, the Company has gained significant understanding of the controlling features of the CRD system with the identification of the northwest trending Hilltop fault
structure. High-grade mineralization occurs in both the hanging wall (north) and footwall (south) sides of the fault and is thickest where subsidiary north-south and
northeast-southwest structures intersect the Hilltop fault (see Figure 1). Skarn mineralization develops along the Hilltop fault to the east towards the Graveyard
Flats intrusive stock with new results confirming the potential for significant expansion. Impressive mineralization continues to be intersected in recent holes with
assays pending.
Figure 1 – Ruby Hill Surface Plan (CNW Group/i-80 Gold Corp)
Drilling is also being completed in the Blackjack Deposit to better define mineralization for an initial resource estimate that is expected to be released following the
2023 program. The Blackjack deposit is located immediately below the Archimedes pit and was discovered by Homestake and Barrick prior to the acquisition of
the Property by i-80. High-grade skarn mineralization occurs proximal to the Graveyard Flats intrusive stock and is underlain by high-grade
Carlin
-type gold
mineralization, the Lowerjack Zone. The ongoing initial drill program is confirming mineralization in both horizons with initial highlight results from the first two holes
drill to test this part of the Property assaying up to 7.1 % Zn, 3.5 % Pb, 3.7 g/t Au and 116.7 g/t Ag in the Blackjack Zone and up to 11.6 g/t Au over
13.1 m
in the
Lowerjack Zone. Neither zone is included in the current mineral inventory at Ruby Hill.
The Company has five drills active at Ruby Hill, completing a large-scale surface drill program for both deposit delineation and exploration purposes. Further
definition of the Upper Hilltop Zone will be completed once new drill pads are permitted and can be established. In the interim period, the East Hilltop target area
is one of the primary focal areas with significant mineralization being defined in an area with little to no previous drilling.
Table 1 – Highlight Assay Results from Ruby Hill
New 2023 Drill Results from Ruby Hill, true thickness estimated 70-90% on Hilltop Zones, unknown for other zones
Several holes not included in table were previously released
Drillhole ID
Zone
Type
From
(m)
To
(m)
Length
(m)
Au
(g/t)
Ag
(g/t)
Pb
(%)
Zn
(%)
Cu
(%)
iRH22-69
Blackjack
Core
478.2
488.9
10.7
0.3
25.3
0.3
5.8
-
And
Blackjack
Core
705.6
710.6
5.0
0.5
13.5
-
8.2
-
And
Lowerjack
Core
717.2
730.3
13.1
11.6
9.6
-
1.5
-
And
Blackjack
Core
766.0
769.0
3.0
8.4
-
-
-
-
iRH23-69A
Blackjack
Core
697.1
704.7
7.7
0.1
8.8
-
7.0
-
iRH22-71
Blackjack
Core
594.1
598.8
4.7
3.7
116.7
3.5
7.1
-
iRH22-71
Blackjack
Core
658.5
659.9
1.4
-
449.0
16.4
7.0
-
iRH22-74
Upper Hilltop
RC
147.8
150.9
3.0
0.6
187.0
8.2
0.2
-
iRH23-01
Upper Hilltop
RC
199.6
202.7
3.0
7.3
332.5
3.0
3.1
-
iRH23-02
East Hilltop
Core
326.4
331.3
4.9
-
-
-
6.4
-
iRH23-03
Upper Hilltop
RC
199.6
202.7
3.0
0.5
73.5
4.1
3.1
-
iRH23-04A
Deep MT (lost pre-
collar before target)
RC
291.1
341.4
50.3
1.2
-
-
-
-
iRH23-05
East Hilltop (lost
hole before target)
Core
261.5
263.0
1.5
-
-
-
5.9
-
iRH23-06
East Hilltop
Core
250.0
251.8
1.8
2.2
77.0
-
-
-
iRH23-07
Lower Hilltop
Core
Hole lost at 488 m
iRH23-08
Blackjack
Core
Assays Pending
iRH23-09
CRD Breccia
Core
563.9
582.2
18.3
3.5
11.1
-
6.7
-
Including
CRD Breccia
Core
563.9
568.5
4.6
3.9
19.7
-
13.0
-
And
Ruby Deeps
Core
585.2
591.0
5.8
9.9
-
-
-
-
iRH23-10
East Hilltop
Core
247.0
276.8
29.7
0.9
52.6
1.1
0.5
-
And
East Hilltop
Core
306.4
319.8
13.4
0.6
165.6
6.6
6.7
0.1
Including
East Hilltop
Core
306.4
314.9
8.4
0.5
226.1
10.0
9.7
0.1
And
East Hilltop
Core
350.5
351.4
0.9
3.2
366.0
10.2
19.8
0.4
And
East Hilltop
Core
361.3
363.6
2.3
2.1
180.0
7.3
0.3
-
And
East Hilltop
Core
367.7
370.0
2.3
0.3
63.0
1.6
13.9
-
UTM
Drillhole ID
East m
North m
Elevation m
Azimuth
Dip
NAD83 Zone 11
iRH22-69
587521
4375190
1995
032
-48
iRH22-69A
587521
4375190
1995
032
-48
iRH22-71
587443
4375784
1962
254
-49
iRH22-74
587315
4375487
1986
090
-50
iRH23-01
587386
4375284
1986
130
-80
iRH22-02
587524
4375156
1994
090
-60
iRH22-03
587390
4375287
1986
075
-50
iRH22-04A
586762
4375330
1984
085
-63
iRH22-05
587524
4375158
1995
090
-60
iRH22-06
587388
4375282
1986
160
-55
iRH22-07
587381
4375291
1986
080
-82
iRH22-08
587939
4376068
1954
194
-49
iRH22-09
586992
4375431
1987
075
-75
iRH22-10
587524
4375154
1994
090
-67
Figure 2 – Long Section – Hilltop Fault Structure (CNW Group/i-80 Gold Corp)
The 2023 program will also test several priority geophysical targets identified on the Property. The ongoing infill and step-out drill program will aide in the
advancement of the Company's plan to develop an underground mine at Ruby Hill, accessed via ramp from the Archimedes open pit. Following the 2023 program,
an updated mineral resource estimate is planned that will include initial estimates for the polymetallic deposits followed by economic studies.
It is expected that refractory gold mineralization from the planned underground operation at Ruby Hill will be trucked to the Company's
Lone Tree
facility, once
operational, and plans are being advanced for the potential processing of polymetallic mineralization on-site at the existing Ruby Hill plant. The Company is
currently completing additional work regarding a possible retrofit of the existing Ruby Hill processing plant to a floatation plant that would recover base and
precious metals. The existing permitted infrastructure at Ruby Hill is expected to reduce not only the permitting timeline normally associated with mine
construction, but also the expected capital cost associated with mine development.
The Ruby Hill Property is one of the Company's primary assets and is host to the core processing infrastructure within the
Eureka
District of the Battle Mountain-
Eureka Trend including a currently idle processing plant and an active heap leach facility. The Property is host to multiple gold, gold-silver and poly-metallic (base
metal) deposits collectively representing one of the largest development-stage projects in
Nevada
.
Please
click here
for further information on abbreviations and conversions referenced in this press release.
QAQC Procedures
All samples were submitted to either American Assay Laboratories (AAL) or ALS Minerals (ALS) both of
Sparks, NV
, which are ISO 9001 and 17025 certified and
accredited laboratories, independent of the Company. Samples submitted through AAL and ALS are run through standard prep methods and analysed using Au-
AA23 (ALS) or FA-PB30-ICP (AAL) (Au; 30g fire assay for both) and ME-ICP61a (35 element suite; 0.4g 4 acid/ICP-AES) for ALS and IO-4AB32 (35 element
suite; 0.5g 4-acid ICP-OES+MS) for AAL. Both AAL and 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 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 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 Ruby Hill and the potential of the Ruby Hill 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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SOURCE
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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 25-APR-23