i-80 Gold Drilling Expands South Pacific Zone High-Grade at Granite Creek New Assay Results Include 44.4 g/t Au over 6.4 m , 19.6 g/t Au over 10.4m & 10.7 g/t Au over 14.5 m
i-80 Gold Drilling Expands South Pacific Zone High-Grade at
Granite Creek
New Assay Results Include 44.4 g/t Au over
6.4 m
, 19.6 g/t Au over
10.4m
& 10.7 g/t Au over
14.5 m
RENO, Nev.
,
Sept. 13, 2022
/CNW/ -
i-80 GOLD CORP.
(TSX: IAU) (NYSE: IAUX)
("i-80", or the "Company")
is pleased to
announce results from an additional 19 holes drilled in the ongoing 2022 surface drill program testing the high-grade 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 a new zone of high-grade gold mineralization located immediately north of the underground mine
workings at Granite Creek (Figure 1). Drilling continues to delineate and expand mineralization in the SPZ with new results indicating
significant expansion potential including hole iGS22
24 that returned
10.7 g/t gold (Au) over 14.5 metres (m) and is a
40 m
northern step-out from iGS22-04 (11.2 g/t Au over
7.3 m
)
. Additionally, hole iGS22-16 was drilled in the southern portion of the
SPZ, with three impressive intervals within
100 m
of existing underground workings, including
15.5 g/t Au over 2.7 m, 19.6 g/t Au
over
10.4 m
and 10.2 g/t Au over
4.9 m
. The SPZ remains open for expansion along strike to the north and at depth (see Figures 1,
2 & 3).
Highlight results from 2022 drilling in the South Pacific Zone (and adjacent horizons):
12.1 g/t Au over
7.0 m
(0.35 oz/ton Au over 23.0 feet) in hole iGS22-07
19.6 g/t Au over
10.4 m
(0.57 oz/ton Au over 34.0 feet) in hole iGS22-16
44.4 g/t Au over
6.4 m
(1.30 oz/ton Au over 21.0 feet) in hole iGS22-18
10.7 g/t Au over
14.5 m
(0.31 oz/ton Au over 47.7 feet) in hole iGS22-24
15.3 g/t Au over
7.1 m
(0.45 oz/ton Au over 23.4 feet) in hole iGS22-25
The SPZ is the priority target of the ongoing surface drill program at Granite Creek and is anticipated to be included in a resource
update following the 2022 program. Multiple holes were drilled to better define the upper and southern limits of the SPZ and returned
modest results, as was anticipated based on historic drilling. Additional drilling in 2022 has been completed along strike and at depth,
with assays pending, and has continued to intersect mineralization within the target horizon, suggesting further upside. Table 1
provides a summary of new results from the SPZ. So far in 2022, more than thirty (30) holes have been drilled in the SPZ.
"The continuity of high-grade mineralization within the South Pacific Zone appears to be excellent over a strike length of more than
600 metres and dip length of 250 metres", stated
Tyler Hill
, Senior Geologist of i
80. "The zone remains open for expansion with the
goal for it to be a significant source of production for Granite Creek in the coming years. Owing to our substantial success, we have
prioritized the extension of the decline in order to accelerate the development of underground workings towards the SPZ."
High-grade mineralization at Granite Creek occurs in a near-identical geological setting as that at the multi
million
ounce Turquoise
Ridge Mine located immediately to the north (Figure 4); 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.
"Ongoing drilling in the South Pacific Zone continues to confirm one of the highest-grade gold discoveries made in recent years, not
only in
Nevada
but anywhere in the world", stated
Ewan Downie
, Chief Executive Officer of i-80. "Given its proximity to our existing
underground workings, the SPZ can be developed quite rapidly and represents a potential game-changer in our ultimate production
profile."
Figure 1 – Surface Plan View (CNW Group/i-80 Gold Corp)
Figure 2 – Long Section View (CNW Group/i-80 Gold Corp)
Figure 3 – Cross Section View (CNW Group/i-80 Gold Corp)
Table 1 – Summary of New Assay Results from 2022 Surface Drilling in SPZ
2022 Drill Results from Granite Creek, estimated true widths 60-90%
Drillhole ID
Type
From (m)
To (m)
Length (m)
Au (g/t)
iGS22-07
Core
468.9
475.9
7.0
12.1
iGS22-08
Core
488.1
489.1
1.0
14.3
And
Core
498.5
500.9
2.4
14.8
And
Core
522.7
527.2
4.5
6.5
Including
Core
525.6
527.2
1.6
16.1
iGS22-09
Core
NSI – tested upper extents
iGS22-10
Core
NSI – tested upper northern extents
iGS22-11
Core
243.8
246.6
2.7
26.8
And
Core
379.0
380.1
1.2
9.6
iGS22-12
Core
NSI – tested lower extents
iGS22-13
Core
502.3
503.4
1.1
6.2
iGS22-14
Core
480.4
481.9
1.5
4.0
And
Core
496.1
498.0
2.0
4.8
iGS22-15
Core
NSI – tested upper northern extents
iGS22-16
Core
335.3
338.0
2.7
15.5
And
Core
345.8
356.2
10.4
19.6
And
Core
378.9
383.7
4.9
10.2
iGS22-17
Core
NSI – tested lower southern extents
iGS22-18
Core
370.6
372.5
1.8
7.5
And
Core
422.1
428.5
6.4
44.4
iGS22-19
Core
263.2
264.8
1.6
5.5
iGS22-20
Core
404.3
405.4
1.1
10.0
iGS22-21
Core
NSI - hole lost at 179 m
iGS22-22*
Core
399.9
404.5
4.6
6.7
iGS22-23
Core
409.5
417.0
7.5
11.8
And
Core
429.1
430.4
1.3
9.7
And
Core
460.9
465.4
4.6
8.6
And
Core
488.9
490.8
1.9
25.0
iGS22-24
Core
514.0
528.5
14.5
10.7
iGS22-25
Core
285.2
289.0
3.8
10.0
And
Core
384.7
391.8
7.1
15.3
And
Core
393.9
395.6
1.7
8.2
*Hole lost prior to intersecting entirety of Otto fault
Table 1a - Collar Coordinates
UTM
Drillhole ID
East m
North m
Elevation m
Azimuth
Dip
NAD83 Zone 11
iGS22-07
478551
4554108
1473
323
-52
iGS22-08
478550
4554106
1473
302
-50
iGS22-09
478579
4554414
1550
282
-53
iGS22-10
478596
4554482
1553
290
-66
iGS22-11
478343
4554165
1557
346
-56
iGS22-12
478697
4554083
1451
326
-45
iGS22-13
478611
4554112
1472
336
-43
iGS22-14
478548
4554158
1472
310
-55
iGS22-15
478597
4554482
1550
312
-66
iGS22-16
478338
4554165
1557
311
-52
iGS22-17
478546
4554103
1474
318
-59
iGS22-18
478579
4554415
1550
275
-54
iGS22-19
478581
4554417
1550
276
-52
iGS22-20
478598
4554484
1553
301
-75
iGS22-21
478610
4554109
1472
324
-55
iGS22-22
478581
4554233
1466
305
-50
iGS22-23
478544
4554102
1474
319
-51
iGS22-24
478605
4554108
1472
336
-48
iGS22-25
478343
4554159
1557
312
-59
Figure 4 – Property Location Map (CNW Group/i-80 Gold Corp)
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
.
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.
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; [email protected]
CO: i-80 Gold Corp
CNW 06:00e 13-SEP-22