i-80 Gold Expands High-Grade Mineralization in the Blackjack Zone at Ruby Hill 10.1 % Zinc, 0.3 g/t Gold, 37.0 g/t Silver & 0.6 % Lead over 116.3 meters 16.1 % Zinc, 0.5 g/t Gold, 12.4 g/t Silver & 0.1 % Lead over 16.1 meters
i-80 Gold Expands High-Grade Mineralization in the Blackjack
Zone at Ruby Hill
10.1 % Zinc, 0.3 g/t Gold, 37.0 g/t Silver & 0.6 % Lead over 116.3 meters
16.1 % Zinc, 0.5 g/t Gold, 12.4 g/t Silver & 0.1 % Lead over 16.1 meters
RENO, Nev.
,
Dec. 4, 2023
/CNW/ -
i-80 GOLD CORP.
(TSX: IAU) (NYSE: IAUX)
("i-80", or the "Company")
is pleased to report
continued high-grade poly-metallic results from the ongoing drill program at the Company's Ruby Hill Property ("
Ruby Hill
" or "
the
Property
") located in
Eureka County, Nevada
.
The current drill program is focused on both defining and expanding high-grade mineralization in multiple target areas including the
Blackjack (skarn) and the Hilltop (skarn and polymetallic CRD) Zones, and advancing metallurgical work associated with these deposits.
The most recent intercepts in the Blackjack Zone include the first hole drilled from the east side of the Archimedes pit, which intersected
significant high-grade mineralization at depth in the southern portion of the deposit where it remains open for expansion. Highlight results
from new drilling include:
Blackjack Zone
iRH23-42
8.3 % Zn, 0.6 % Pb, 50.1 g/t Ag & 0.6 g/t Au over
20.1 m
iRH23-42A
10.1 % Zn, 0.6 % Pb, 37.0 g/t Ag & 0.3 g/t Au over
116.3 m
Including 16.3 % Zn, 0.5 % Pb, 42.3 g/t Ag & 0.3 g/t Au over
39.7 m
And 14.5% Zn, 1.0% Pb, 59.9 g/t Ag & 0.2 g/t Au over
16.3 m
iRH23-
43B
16.1 % Zn, 0.1 % Pb, 12.4 g/t Ag & 0.5 g/t Au over
16.1 m
Also 12.2% Zn, 0.1% Pb, 20.1 g/t Ag & 0.9 g/t Au over
8.6 m
"The exceptional results being realized at Ruby Hill have attracted significant interest with high-grade polymetallic mineralization being
defined in multiple target areas," stated
Tyler Hill
, Chief Geologist of i-80. "Recent drilling has returned some of the highest-grade
mineralization to-date in the Blackjack Zone as we continue to step-out to the south and at depth. Additionally, following the construction
of the new drill stations better suited to intersect the East Hilltop Zones, substantial CRD and Skarn mineralization is being defined
highlighting the potential to expand mineralization in these recently discovered zones."
These new intercepts are complemented by other recent drilling at Blackjack including iRH23-41 that intersected both CRD and skarn
mineralized zones that assayed
15.6 % Zn, 8.7 % Pb, 420.4 g/t Ag & 0.6 g/t Au over
40.4 m
(CRD) and 10.7 % Zn, 0.4 % Pb, 0.2 g/t
Au & 37.0 g/t Ag over
47.9 m
(skarn)
. Skarn mineralization in the Blackjack Zone occurs proximal to the contact of the Graveyard Flats
intrusive, and identical geological setting at the East Hilltop Skarn Zone located approximately three hundred metres (
300 m
) to the south.
Future drilling will test this large area as no previous drilling has been completed between these two high-grade horizons (see Figure 1).
Drilling is also being completed in the Upper and East Hilltop Zones situated along the Hilltop fault structure where multiple zones of
mineralization have now been defined over a strike length of approximately 750 metres including the Upper, Lower and East Hilltop Zones
(see Figure 1). As part of the ongoing drilling campaign, several holes are currently being drilled to advance metallurgical knowledge
related to the polymetallic mineralization at Ruby Hill. This work is being funded by a third-party company that has recently entered into
exclusivity with i-80 to acquire a minority joint venture interest in the Ruby Hill Property.
Figure 1 – Polymetallic Mineralization – Surface Plan (CNW Group/i-80 Gold Corp)
Table 1 – Highlight New Assay Results from Blackjack Zone Drilling
Drillhole ID
Zone
Type
From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
Pb (%)
Zn (%)
iRH23-42
Blackjack
Core
596.8
616.9
20.1
0.6
51.1
0.6
8.3
iRH23-42A
Blackjack
Core
530.8
647.1
116.3
0.3
37.0
0.6
10.1
including
Blackjack
Core
530.8
547.1
16.3
0.2
59.9
1.0
14.5
And
Blackjack
Core
605.9
645.7
39.7
0.3
42.3
0.5
16.3
iRH23-43B
Blackjack
Core
587.0
603.4
16.4
0.5
12.4
0.1
16.1
And
Blackjack
Core
699.2
707.7
8.6
0.9
20.1
0.1
12.2
True widths estimated 60-90%.
UTM
Drillhole ID
East m
North m
Elevation m
Azimuth
Dip
NAD83 Zone
11
iRH23-42&42A
587525
4375149
1995
032
-45
iRH23-43
588171
4375020
1987
309
-43
The ongoing drill program is also testing the FAD deposit that is located approximately two kilometres to the south of Ruby Hill where
earlier drilling completed by Paycore returned intercepts of up to
8.0 g/t Au, 79.0 g/t Ag, 10.0 % Zn & 1.0 % Pb over
27.4 m
in hole
PC22-10, and 7.1 g/t Au, 376.0 g/t Ag, 6.3 % Zn & 10.3 % Pb over
14.8 m
in hole PC22
08
.
The Company has submitted for approval its plan to develop an underground mine at Ruby Hill with mineralization accessed via a ramp
from the Archimedes open pit. The target is to commence construction in 2024 to provide underground platforms for definition drilling and
mining operations.
Multiple types of mineralization have been identified in the Hilltop Corridor including skarn (Blackjack), CRD (Hilltop/historic mines), distal
disseminated Au-Ag mineralization (Mineral Point) and locally
Carlin
-type gold.
The
Eureka
(Ruby Hill) Mining District has a history of high-grade polymetallic CRD production that began in the 1860's and spanned a
period of more than one hundred years. Historic mined grades rank amongst the highest for any CRD district in the world. Since the
1960's, the CRD potential of the
Eureka
District has been largely overlooked in favour of exploration for
Carlin
-type gold deposits and the
Company considers the opportunity to be substantial. 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 an idle leach plant, an active heap
leach facility, and is host to multiple gold, gold-silver and polymetallic (base metal) deposits.
Please
click here
for further information on abbreviations and conversions referenced in this press release.
QAQC Procedures
All samples were submitted to American Assay Laboratories (AAL) of
Sparks, NV
, which is an ISO 9001 and 17025 certified and
accredited laboratory, independent of the Company. Samples submitted through AAL and are run through standard prep methods and
analyzed using FA-PB30-ICP (Au; 30g fire assay) and IO-4AB32 (35 element suite; 0.5g 4-acid ICP-OES+MS). Select high-grade gold
samples were also completed with metallic screen fire assays using G-FASFAu11. AAL 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 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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For further information:
please contact: 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 04-DEC-23