i-80 Gold Provides High-Grade Results from Drilling at Ruby Hill 13.7% Zn, 0.6% Cu, 17.5 g/t Ag Over 57.8 m
i-80 Gold Provides High-Grade Results from Drilling at
Ruby Hill
13.7% Zn, 0.6% Cu, 17.5 g/t
Ag Over
57.8 m
RENO, Nev.
,
Feb. 26, 2024
/CNW/ -
i-80 GOLD CORP.
(TSX: IAU) (NYSE: IAUX)
("i-80", or the "Company")
is
pleased to announce high-grade results from the final three holes completed as part of the multi-year drilling program
targeting polymetallic mineralization at the Company's 100%-owned Ruby Hill Property ("
Ruby Hill
" or "
the Property
")
located in
Eureka County, Nevada
. These holes will be included in an initial resource estimate for the polymetallic
mineralization contained within the Property.
The final three holes were drilled in the East Hilltop Zone, the most recently discovered of the Hilltop deposits, where both
Carbonate Replacement Deposit (CRD) and skarn mineralized horizons have been identified – both of which remain open
for expansion. Highlight results from final three holes include:
0.2% Zn, 6.3% Pb, 180.0 g/t Ag & 2.2 g/t Au Over
5.0 m
(iRH24-01 – CRD)
6.2% Zn, 5.6% Pb, 198.0 g/t Ag & 1.0 g/t Au Over
3.6 m
and 13.4% Zn, 2.5% Pb, 93.7 g/t Ag, & 0.6 g/t Au over
5.5 m
(iRH24-02 – CRD)
13.7% Zn, 0.6% Cu, & 17.5 g/t
Ag Over
57.8 m
(iRH24-03 – Skarn)
incl. 21.6 % Zn, 1.9 % Cu, & 54.6 g/t
Ag Over
9.5 m
Ruby Hill represents one of the Company's primary assets and is host to multiple gold, base metal and precious metal-
rich polymetallic deposits. Drilling completed between 2022 and 2024 at the Blackjack, Hilltop and FAD deposits
intersected significant high-grade mineralization with all deposits remaining open for expansion. The polymetallic (base
metal) resource estimate is being completed as part of the Company's plan to advance mine development at Ruby Hill
with underground workings accessing both the gold and polymetallic deposits.
"Since the initial discovery less than two years ago, we have been successful in identifying multiple high
grade mineralized
zones along the strike of the Hilltop fault structure. These discoveries highlight the geological potential for Ruby Hill to host
some of the highest-grade polymetallic mineralization known world
wide.", stated
Ewan Downie
, Chief Executive Officer of
i-80. "Our Hilltop discovery has produced some of the highest-grade results anywhere on the globe for this style of
mineralization, rich in zinc, gold, silver, lead and locally copper. The final hole of the program returned the best copper
intercepts to-date assaying 0.6% Cu over
57.8 m
."
Hilltop Mineralization
The Hilltop Zones were discovered in 2022 while testing an exploration target proximal to the Archimedes pit. At Hilltop,
zinc skarn mineralization is located proximal to the Graveyard Flats intrusive and transitions to CRD mineralization
westward along the Hilltop fault corridor. Mineralization has now been defined along the Hilltop fault structure over a strike
length of approximately 750 metres, and includes the Upper, Lower and East Hilltop Zones (see Figure 1). Definition and
step-out drilling suggests significant growth potential with mineralization remaining open for expansion. Highlight 2023 drill
results from the Hilltop zones include:
iRH23-54 – Upper Hilltop Zone:
8.8% Zn, 18.8% Pb, 332.9 g/t Ag & 0.6 g/t Au Over
32.0 m
iRH23-10 – East Hilltop Zone CRD:
9.7% Zn, 10.0% Pb, 226.1 g/t Ag & 0.5 g/t Au Over
8.4 m
iRH23-50 – East Hilltop Skarn (2 zones) southmost step-out to-date:
9.5% Zn, 0.3% Cu & 12.6 g/t Ag over
114.3 m
including
17.7% Zn, 0.4% Cu & 10.2 g/t Ag over
36.6 m
and
12.9% Zn, 0.6% Cu & 48.8 g/t Ag over
15.2 m
9.5% Zn, 0.8% Cu & 18.6 g/t Ag over
7.6 m
A single exploration hole (iRH23-55) drilled approximately 150 metres to the south of East Hilltop to test for potential
continuation of mineralization along the intrusive contact intersected a broad zone of skarn mineralization with four
narrower high-grade zones that include the highest silver grades intersected in skarn so far at Ruby Hill:
252.0 g/t Ag & 22.3% Zn over
1.5 m
1181.0 g/t Ag, 19.5% Zn, 10.2% Pb & 1.2% Cu over
1.5 m
125.0 g/t Ag, 13.7% Zn over
1.5 m
159.0 g/t Ag, 11.3% Zn over 5.6% Pb over
1.5 m
Blackjack Deposit
The Blackjack deposit consists of high-grade skarn mineralization located immediately below the Archimedes Pit, proximal
to the west contact of the Graveyard Flats intrusive (see Figure 1). Hole iRH23
18A is the southmost intercept in the
Blackjack deposit that remains open along strike to the north and south. These results will be included in an initial
resource estimate for this zone. Previously released results from the Blackjack deposit demonstrate high-grade
mineralization with highlight intercepts of:
iRH23-18A: 19.4% Zn, 19.2 g/t Ag and 0.4 g/t Au over
30.4 m
iRH23-29:
17.8% Zn, 0.8 % Pb, 59.8 g/t Ag & 0.9 g/t Au -
16.4 m
iRH23-41: 10.7% Zn & 37.0 g
/t Ag over
47.9 m
(skarn) & 15.6% Zn, 8.7% Pb, 420.4 g/t Ag & 0.6 g/t Au over
40.4 m
(CRD)
iRH23-42A: 10.1% Zn, 0.6% Pb, 37.0 g/t Ag & 0.3 g/t Au over
116.3 m
FAD Deposit
The FAD deposit is located approximately 2 km to the south of the Archimedes pit and the multiple polymetallic zones
being defined at Ruby Hill. Hole PC23-28 demonstrate the FAD deposit remains open for expansion to the east (see
figure 2). FAD is the most gold-rich of the polymetallic mineralized zones at Ruby Hill. Highlight results from i-80 and
Paycore drill program include:
PC22-07: 155.0 g/t Ag, 22.0% Zn & 1.5% Pb over
12.5 m
PC22-08A: 7.1 g/t Au, 376.0 g/t Ag, 6.3% Zn & 10.3% Pb over
14.8 m
PC22-10: 8.0 g/t Au, 79.0 g/t Ag, 10.0% Zn & 1.0% Pb over
27.4 m
PC23-22 – infill hole drilled on the western margin of the west FAD lobe (3 zones)
5.7 g/t Au, 159.4 g/t Ag, 15.0% Zn & 2.8% Pb over
5.4 m
13.7 g/t Au, 430.0 g/t Ag, 15.9% Zn & 7.7% Pb over
2.5 m
9.0 g/t Au, 92.4 g/t Ag, 12.2% Zn & 1.0% Pb over
14.6 m
PC23-28 – final hole and furthest hole drilled to the east in the east FAD lobe (6 zones)
1.9 g/t Au, 109.7 g/t Ag, 8.9% Zn & 0.2% Pb over
3.2 m
33.4 g/t Au, 87.7 g/t Ag, 7.1% Zn & 0.2% Pb over
2.1 m
7.6 g/t Au, 42.2 g/t Ag, & 6.3% Zn over
6.0 m
11.4 g/t Au, 65.8 g/t Ag, 0.6% Zn, & 0.2% Pb over
2.0 m
4.3 g/t Au, 41.3 g/t Ag, 12.0 % Zn & 0.2% Pb over
3.5 m
3.9 g/t Au, 185.6 g/t Ag, 11.1% Zn & 3.6% Pb over
25.4 m
Figure 1 – Hilltop Surface Plan (CNW Group/i-80 Gold Corp)
The deposits being drilled at Ruby Hill and FAD are situated within the Hilltop Corridor, a +2 km long, alluvial covered,
trend immediately south of the Archimedes pit that is largely untested by previous drilling. The Company has recently
completed geophysical surveys to cover this corridor and data is being compiled to help guide future exploration.
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. The Ruby Hill Property is host to the only 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.
Figure 2 – Hilltop Cross-section (CNW Group/i-80 Gold Corp)
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. Work is also progressing for the completion of initial mineral resource
estimates on the polymetallic mineralization followed by initial economic study(s).
Please
click here
for further information on abbreviations and conversions referenced in this press release.
Table 1 – Highlight New Assay Results from Ruby Hill
Drillhole ID
Zone
Type
From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
Cu
(%)
Pb (%)
Zn (%)
iRH24-01
East Hilltop
Core
261.4
266.4
5.0
2.2
180.0
0.1
6.3
0.2
iRH24-02
East Hilltop
Core
289.5
293.0
3.6
1.0
198.0
0.1
5.6
6.2
And
East Hilltop
Core
391.5
396.9
5.5
0.6
93.7
0.1
2.5
13.4
iRH24-03
East Hilltop
Core
343.7
401.4
57.8
0.1
17.5
0.6
-
13.7
* True widths estimated at 75-95%. Numbers may not add due to rounding.
UTM
Drillhole ID
East m
North m
Elevation m
Azimuth
Dip
NAD83 Zone 11
iRH24-01
587522
4375184
1997
092
-72
iRH24-02
587636
4375089
1998
067
-82
iRH24-03
587637
4375086
1995
091
-77
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). 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:
Ewan Downie - CEO, Matt Gili - President & COO; Matthew Gollat - Executive Vice-President,
1.866.525.6450
CO: i-80 Gold Corp
CNW 06:00e 26-FEB-24