i-80 Gold Reports High-Grade Drill Results from the FAD Deposit at Ruby Hill 9.0 g/t Au, 92.4 g/t Ag, 12.2 % Zn & 1.0 % Pb over 14.6 m 3.9 g/t Au, 185.6 g/t Ag, 11.1 % Zn, & 3.6% Pb over 25.4 m
i-80 Gold Reports High-Grade Drill Results from the FAD
Deposit at Ruby Hill
9.0 g/t Au, 92.4 g/t Ag, 12.2 % Zn & 1.0 % Pb over
14.6 m
3.9 g/t Au, 185.6 g/t Ag, 11.1 % Zn, & 3.6% Pb over
25.4 m
RENO, Nev.
,
Jan. 25, 2024
/CNW/ -
i-80 GOLD CORP.
(TSX: IAU) (NYSE: IAUX)
("i-80", or the "Company")
is pleased to
announce high-grade results from the 2023 drill program completed at the FAD deposit situated on the Company's 100%-owned Ruby
Hill Property ("
Ruby Hill
" or "
the Property
") located in
Eureka County, Nevada
.
FAD is one of several polymetallic deposits drilled at Ruby Hill in 2023 for the completion of initial resource estimates for the FAD,
Blackjack and Hilltop deposits. The Ruby Hill Property represents the core land package within the
Eureka
District of
Nevada
, one of
the world's premier re-emerging Carbonate Replacement Deposit (CRD) districts. FAD is a high-grade polymetallic deposit and is
expected to add to the Company's already impressive resource base. New results have intersected multiple stacked zones of
mineralization in the southeast portion of the deposit.
Highlight drill results from 2023 drilling at FAD:
PC23-12 – infill hole in the east FAD lobe
50 m
northwest of PC23-28 (5 zones)
4.4 g/t Au, 91.3 g/t Ag, 8.4% Zn & 0.3% Pb over
1.6 m
4.9 g/t Au, 50.2 g/t Ag, 9.0% Zn & 0.2% Pb over
4.5 m
6.2 g/t Au, 57.1 g/t Ag, 6.9% Zn & 0.1% Pb over
5.0 m
6.0 g/t Au, 35.5 g/t Ag, 5.8% Zn & 0.2% Pb over
8.5 m
3.1 g/t Au, 48.8 g/t Ag, 2.1% Zn & 1.3% Pb over
3.8 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
PC23-26 – step-out hole
50 m
north of PC23-12 on the east FAD lobe (3 zones)
15.6 g/t Au, 847.0 g/t Ag, 15.1% Zn & 0.4% Pb over
3.4 m
8.3 g/t Au, 187.9 g/t Ag, 6.2% Zn & 0.4% Pb over
1.7 m
0.9 g/t Au, 25
.2 g/t Ag, 8.3% Zn % 0.2% Pb over
1.7 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
including 4.1 g/t Au, 350.1 g/t Ag, 13.8% Zn & 7.3% Pb over
11.0 m
The
Eureka
District has a long and successful history of mining, extending over a period of one hundred sixty years (1864-Present)
including some of the world's highest-grade CRD mines. From 1866 until 1967 the Ruby Hill district produced an estimated 2 Mt of
ore containing approximately 1.65
Moz Au
, 39 Moz Ag, and
625M
lbs of lead. It is estimated 80% to 90% of this production came
from the original
Ruby Hill Mine
, located 500 metres southwest of the FAD deposit
i
.
The FAD deposit Is located in the hanging-wall of the Ruby Hill fault and is comprised of dominantly sulfide, polymetallic mineralization
(see Figure 2). Drilling completed in 2022 and 2023 has successfully intersected multiple horizons of mineralization that remain open
for expansion. Results compliment previously released holes drilled by Paycore that include:
7.8 g/t Au, 155.5 g/t Ag, 22.0% Zn & 1.5% Pb over
12.5 m
(PC22-07)
7.1 g/t Au, 376.3 g/t Ag, 6.3% Zn & 10.3% Pb over
14.8 m
(PC22-08A)
8.0 g/t Au, 79.1 g/t Ag, 10.2% Zn & 1.0% Pb over
27.4 m
(PC22-10)
In addition to the deeper sulfide mineralization at FAD, drilling tested proximal to the historic
Ruby Hill Mine
. These holes intersected
low-grade oxide mineralization suggesting the potential to delineate near-surface mineralization proximal to historic workings that may
be amenable to open pit mining.
"The drill program at FAD compliments successful programs on the Blackjack and Hilltop deposits and our expanded focus on
exploring for polymetallic mineralization in the
Eureka
District to better assess the economic opportunity.", stated
Tyler Hill
, Chief
Geologist of i-80 Gold. "FAD is unusual in comparison to global CRD deposits given its elevated gold grades."
The FAD deposit is located within the "Hilltop Corridor" approximately 2 km south of the Hilltop discovery made by i-80 in mid-2022.
Multiple drill rigs were active in 2023, aggressively defining and expanding mineralization at Hilltop, now having identified a series of
high-grade CRD zones located on the south side of the Archimedes pit (see Figure 1). Previously released results from drilling at
Upper Hilltop include
515.3 g/t Ag, 28.9 % Pb, 10.5 % Zn & 0.9 g/t Au over
28.3 m
in hole iRH22-43,
1.9 g/t Au, 631.3 g/t Ag, 7.4
% Zn & 33.0 % Pb over
18.3 m
in hole iRH22-53,
14.7 g/t Au, 253.3 g/t Ag, 0.4% Zn & 8.7% Pb over
7.5 m
in hole iRH23-52 and
0.6 g/t Au, 332.9 g/t Ag, 8.8% Zn & 18.8% Pb over
32.0 m
in hole iRH23-54. Recent results from drilling in the East Hilltop Zone
include
1.5 g/t Au, 274.6 g/t Ag, 4.7% Zn & 4.3% Pb over
13.2 m
in hole iRH23-48, and
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
in iRH23-50.
The Hilltop Corridor is a 2 km long (see Figure 1), alluvial covered, trend immediately south of the Archimedes pit believed to be host
to multiple feeder fault structures that is largely untested by previous drilling owing to the alluvial cover. The Hilltop discoveries were
made in the second half of 2022 exploration campaign while testing one of several generative exploration targets identified proximal to
the Blackjack (skarn) deposit, with mineralization defined along the Hilltop fault structure over a strike length of approximately 750
metres. At the end of the 2023 drill program, one hole was drilled to test for the possible extension of skarn mineralization proximal to
the contact of the Graveyard Flats intrusive. This hole, iRH23
55, intersected a broad zone of skarn mineralization with 4 higher-grade
intercepts, including an interval of
1181.0 g/t Ag, 19.5% Zn, 10.2% Pb & 1.2% Cu over
1.5 m
.
Drilling was also completed in the Blackjack deposit in 2023, yielding numerous significant results, successfully delineating and
expanding high-grade mineralization. i-80 drilling started at hole PC23-22.
Table 1 – Highlight New Assay Results from FAD
Drillhole ID
Zone
Type
From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
Pb (%)
Zn (%)
PC23-12
FAD
Core
654.6
656.2
1.6
4.4
91.3
0.3
8.4
and
FAD
Core
659.1
663.6
4.5
4.9
60.2
0.2
9.3
And
FAD
Core
676.4
681.3
5.0
6.2
57.1
0.1
6.9
and
FAD
Core
701.5
710.0
8.5
6.0
35.5
0.2
5.8
and
FAD
Core
719.5
723.3
3.8
3.1
48.8
1.3
2.1
PC23-13
FAD
Core
937.9
944.0
6.2
2.3
20.3
-
2.6
PC23-14
FAD
Core
747.8
749.7
1.8
4.1
33.3
0.2
1.5
PC23-15
Ruby Hill (oxide)
RC
67.1
77.7
10.7
1.2
115.6
0.6
7.9
PC23-16
Ruby Hill (oxide)
RC
96.0
121.9
25.9
0.4
7.5
0.3
0.2
PC23-17
Ruby Hill (oxide)
RC
NSI
PC23-18
FAD
Core
Abandoned at 478 m due to ground conditions
PC23-19
FAD
Core
785.3
786.2
0.9
0.4
89.0
2.1
4.8
and
FAD
Core
788.5
789.7
1.2
1.7
49.0
0.8
4.9
PC23-20
FAD
Core
706.2
709.3
3.0
2.4
110.0
1.2
12.0
PC23-21
Near surface exploration
NSI
PC23-22
FAD
Core
687.0
692.4
5.4
5.7
159.4
2.8
15.0
and
FAD
Core
705.5
708.1
2.5
13.7
430.0
7.7
15.9
and
FAD
Core
732.0
746.7
14.6
9.0
92.4
1.0
12.2
PC23-23
FAD
RC
RC pre-collar abandoned at 213 m due to ground conditions
PC23-24
FAD
Core
738.2
739.1
0.9
10.0
151.0
0.9
13.1
and
FAD
Core
763.2
765.4
2.3
6.4
17.5
0.1
0.9
iRH23-25
FAD
Core
667.0
667.9
0.9
3.5
52.0
0.2
10.8
and
FAD
Core
715.4
716.3
0.9
3.6
584.0
16.4
2.3
PC23-26
FAD
Core
642.5
645.9
3.4
15.6
847.0
0.5
15.1
and
FAD
Core
673.4
675.1
1.7
8.3
187.9
0.4
6.2
and
FAD
Core
698.4
700.1
1.7
0.9
25.2
0.2
8.3
PC23-27
FAD
Core
647.1
648.6
1.5
2.5
378.1
1.7
23.5
PC23-28
FAD
Core
597.0
600.2
3.2
1.9
109.7
0.2
8.9
and
FAD
Core
616.6
618.7
2.1
33.4
87.7
0.2
7.1
and
FAD
Core
644.3
650.4
6.0
7.6
42.2
-
6.3
and
FAD
Core
656.2
658.2
2.0
11.4
65.8
0.2
0.6
and
FAD
Core
667.4
670.9
3.5
4.3
41.3
0.2
12.0
and
FAD
Core
693.0
718.4
25.4
3.9
185.6
3.6
11.1
including
FAD
Core
707.4
718.4
11.0
4.1
350.1
7.3
13.8
True widths estimated 80-95%
UTM
Drillhole ID
East m
North m
Elevation m
Azimuth
Dip
NAD83 Zone 11
PC23-12
588154
4375786
2087
217
-80
PC23-13
587344
4373145
2084
233
-79
PC23-14
587305
4373534
2105
180
-89
PC23-15
587203
4373305
2153
226
-50
PC23-16
587118
4372636
2153
230
-72
PC23-17
587120
4372637
2121
226
-48
PC23-18
587109
4372944
2087
193
-82
PC23-19
587336
4373145
2098
286
-85
PC23-20
587217
4373165
2117
311
-90
PC23-21
587102
4373119
2153
190
-68
PC23-22
587119
4372635
2107
254
-79
PC23-23
587028
4373239
2098
131
-85
PC23-24
587215
4373161
2088
206
-89
PC23-25
587279
4373230
2105
149
-84
PC23-26
587166
4373094
2087
266
-85
PC23-27
587339
4373147
2098
305
-88
PC23-28
587213
4373163
2087
220
-86
Figure 1 – i-80 Ruby Hill Property Geology (CNW Group/i-80 Gold Corp)
Figure 2 – FAD Deposit Plan (CNW Group/i-80 Gold Corp)
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). 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 (gold and polymetallic), 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.
_____________________________________
i
Historic production estimate sourced from
Nolan
, T.B., and
Hunt
, R.L., 1968,
The Eureka mining district
, Nevada, in Ridge, J.D., ed., Ore deposits of the United States, 1933–
1967 (GratonSales Vol.): New York, American Institute of Mining
Metallurgy Petroleum Engineers, v. 1, p. 966–991. The historic production estimate is derived from uncertain production data due to the lack of detailed records during the time period.
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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-JAN-24