i-80 Gold Releases High-Grade Results from Underground Drilling at Granite Creek Including 31.1 g/t Au over 21.9 m , 28. 7 g/t over 16.5 m , 37.7 g/t Au over 7.6 m & 11.9 g/t Au over 21.6 m
i-80 Gold Releases High-Grade Results from Underground
Drilling at Granite Creek
Including 31.1 g/t Au over
21.9 m
, 28.
7 g/t over
16.5 m
, 37.7 g/t Au over
7.6 m
& 11.9 g/t Au over
21.6 m
RENO, Nev.
,
Dec. 14, 2023
/CNW/ -
i-80 GOLD CORP.
(TSX: IAU) (NYSE: IAUX)
("i-80", or the "Company")
is pleased to announce
high-grade results from the ongoing 2023 underground drill program that is targeting mineralization in the upper part of the South Pacific
Zone at the Company's Granite Creek Property ("Granite Creek" or "the Property") located in
Humboldt County, Nevada
.
The 2023 surface and underground drilling campaign is focused on the delineation and expansion of mineralization within the South Pacific
Zone ("SPZ"), and the conversion of some of the deposit to Measured and Indicated resource classification. The SPZ is located immediately
north of the Ogee Zone and the current mine workings, and is expected to become the primary zone for mining once developed in 2024.
Mining of initial stopes is being planned for H1-2024 once mine workings are extended to provide access.
The underground drill program is focused on the upper part of the deposit, where initial mining is planned, while surface drilling is currently
targeting the northern extension where drilling is also defining high-grade mineralization with recent results that include intervals of up to
15.5
g/t Au over
19.7 m
in iGS23-05 (See Figure 1). Prior to hole GCPU23-19, underground drilling was completed in the current areas being
mined in the Ogee Zone and subsequent drilling is focused on the SPZ. The initial results include some of the best results received to-date in
the South Pacific Zone.
Highlight results from new underground drilling in the South Pacific Zone at Granite Creek include:
GCPU23-19: 16.9 g/t Au over
5.7 m
GCPU23-20: 37.7 g/t Au over
7.6 m
GCPU23-21: 19.2 g/t Au over
4.3 m
GCPU23-22: 31.1 g/t Au over
21.9 m
GCPU23-25: 27.3 g/t Au over
4.0 m
GCPU23-26: 19.5 g/t Au over
4.1 m
GCPU23-30: 28.7 g/t Au over
16.5 m
and 11.9 g/t Au over
21.6 m
GCPU23-31: 20.6 g/t Au over
6.1 m
GCPU23-32: 15.4 g/t Au over
7.9 m
and 31.0 g/t Au over
2.4 m
"Both surface and underground drilling in the South Pacific Zone confirm impressive high-grade gold mineralization, including over substantial
widths.", stated
Tyler Hill
, Senior Geologist of i-80. "It is expected to become the primary source of mineralization at Granite Creek beginning
in mid-2024 and is comprised primarily of refractory mineralization that will be processed initially at Nevada Gold Mines' Twin Creeks
complex pursuant to our processing agreement. The South Pacific Zone remains open along strike to the north and at depth, providing
considerable upside."
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
(See Figure 2). High-grade mineralization
occurs in a near-identical geological setting as the multi-million-ounce Turquoise Ridge Mine located immediately to the north; 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.
Table 1 – Summary Assay Results from South Pacific Zone Underground Drilling
Drillhole ID
Zone
Type
From
(m)
To
(m)
Length
(m)
Au
(g/t)
GCPU23-19
SPZ
Core
59.9
65.6
5.7
16.9
GCPU23-20
SPZ
Core
59.1
66.8
7.6
37.7
GCPU23-21
SPZ
Core
66.4
70.7
4.3
19.2
GCPU23-22
SPZ
Core
155.8
177.7
21.9
31.1
GCPU23-23
SPZ
Core
114.8
116.0
1.2
5.3
GCPU23-24
SPZ
Core
75.0
76.7
1.7
13.6
GCPU23-25
SPZ
Core
75.9
79.9
4.0
27.3
And
SPZ
Core
84.4
86.0
1.5
19.6
GCPU23-26
SPZ
Core
68.7
72.8
4.1
19.5
GCPU23-27
SPZ
Core
90.8
92.4
1.5
5.8
GCPU23-28
SPZ
Core
NSI
GCPU23-29
SPZ
Core
NSI
GCPU23-30
SPZ
Core
89.6
106.1
16.5
28.7
And
SPZ
Core
183.5
205.1
21.6
11.9
And
SPZ
Core
211.5
221.9
10.4
13.9
GCPU23-31
SPZ
Core
246.6
252.7
6.1
20.6
GCPU23-32
SPZ
Core
219.2
227.1
7.9
15.4
And
SPZ
Core
255.4
256.6
2.4
31.0
True widths estimated 30-80% with an average of 50%, NSI abbreviation for no significant intercept.
Table 1a
Collar Coordinates
UTM
Drillhole ID
East m
North m
Elevation m
Azimuth
Dip
NAD83 Zone
11
GCPU23-19
478223
4554279
1328
029
-48
GCPU23-20
478223
4554279
1328
024
-58
GCPU23-21
478223
4554279
1328
036
-52
GCPU23-22
478224
4554277
1328
067
-55
GCPU23-23
478223
4554276
1328
060
-57
GCPU23-24
478223
4554278
1328
041
-46
GCPU23-25
478223
4554278
1328
042
-51
GCPU23-26
478223
4554277
1328
044
-56
GCPU23-27
478223
4554277
1328
049
-49
GCPU23-28
478223
4554277
1328
053
-54
GCPU23-29
478223
4554277
1328
046
-52
GCPU23-30
478223
4554277
1328
053
-52
GCPU23-31
478223
4554276
1328
086
-60
GCPU23-32
478223
4554276
1328
081
-58
GCPU23-33
478223
4554278
1328
046
-40
Figure 1 – Long Section View of the Granite Creek Deposit (CNW Group/i-80 Gold Corp)
Figure 2 – Property Location Map (CNW Group/i-80 Gold Corp)
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). 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, 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
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 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 - Executive Vice-President; 1.866.525.6450,
[email protected], www.i80gold.com
CO: i-80 Gold Corp
CNW 06:00e 14-DEC-23