NOTICE TO READER Re: i-80 GOLD CORP. To whom it may concern, Please note that due to a technical error made by Cision, the issuer’s
NOTICE TO READER
Re: i-80 GOLD CORP.
To whom it may concern,
Please note that due to a technical error made by Cision, the issuer’s February 13, 2024 News Release has
been refiled to include the graphic under Figure 2. This has been refiled under SEDAR project number
06083699, submission #2.
Submission #2 supersedes Submission #1. No other content has changed.
i-80 Gold Announces High-Grade
Results from Underground Drilling at
Cove
Results from the Helen Zone Include 14.4 g/t Au over 20.2 m, 12.7
g/t Au over 24.4 m and 14.3 g/t Au over 8.0 m
RENO, Nev., Feb. 13, 2024 /CNW/ - i-80 GOLD CORP. (TSX: IAU)
(NYSE: IAUX) ("i-80", or the "Company") is pleased to announce
continued positive results from ongoing underground drilling at the
Company's 100%-owned McCoy-Cove Property ("Cove" or "the
Property") located in Lander County, Nevada.
The new results are from drilling completed in 2023 designed to define
the Helen Zone, the first horizon expected to be accessed at the Cove
Mine. The program continues to confirm high-grade mineralization
over appreciable thickness, with several holes intersecting multiple
lenses in the western-most extremity of the deposit (see Figures 2 &
4). Helen Zone results compare favourably with initial results from the
Gap Zone where previously released results included intercepts of up
to 12.9 g/t Au over 36.1 m in hole iCHU23-04, 14.9 g/t Au over 32.7
m in hole iCHU23-10, 18.9 g/t Au over 29.3 m in hole iCHU23-11,
and 7.0 g/t Au over 119.6 m in hole iCHU23-14 (including four higher-
grade zones of gold mineralization of up to 10.6 g/t Au over 38.3 m).
This release includes results from drilling in the northwest portion of
the Helen Zone with a complete summary provided in Table 1.
Highlight new results from the 2023 drilling program at McCoy-Cove
include:
Helen Zone
• iCHU23-33: 14.4 g/t Au over 20.2 m
And 13.3 g/t Au over 3.7 m
• iCHU23-34: 12.7 g/t Au over 24.4 m
• iCHU23-35: 10.1 g/t Au over 7.9 m
And 14.3 g/t Au over 8.0 m
• iCHU23-36: 9.7 g/t Au over 9.6 m
And 33.9 g/t Au over 2.8 m
"Deposits with continuous high-grade gold mineralization over
substantial widths like those at Cove are rare.", stated Tyler Hill, Chief
Geologist of i-80 Gold. "Our ongoing program continues to confirm
that Cove is one of the highest-grade, development-stage, projects in
North America. Mineralization remains open for expansion and
significant exploration targets exist on the large land package."
The McCoy-Cove Property is strategically located in the prolific Battle
Mountain Trend immediately south of Nevada Gold Mines' Phoenix
Mine and located within 83 km of the Company's Lone Tree
processing facility (see Figure 1). It is one of three projects currently
being advanced to realize the Company's goal of becoming one of the
largest producers in Nevada. In addition to the underground drill
program at Cove, the Company recently completed a 40-day pump
test for the completion of a final hydrological model and full mine
permitting.
The program being completed will consist of approximately 120 holes
comprising more than 40,000 m of drilling on approximate 30 metre
spacing in advance of an updated resource estimate and economic
study. This program is focused on the CSD Gap and Helen Zone
portions of the deposit while mineralization below the pit in the Cove
South Deep and 2201 zones are not being drilled as part of this
program, (Figure 3) but offer a significant upside opportunity.
Figure 1 – Property Location Map (CNW Group/i-80 Gold Corp)
Table 1 – Highlight New Assay Results from Cove Underground
Drilling
New 2023 results from McCoy-Cove, estimated true thickness 75 -95%
Drillhole ID Zone Type From (m) To (m) Length (m) Au (g/t) Ag (g/t)
iCHU23-29 Helen Core 223.1 230.5 7.4 7.0 1.8
iCHU23-30 Helen Core 268.3 271.5 3.2 12.6 1.3
and Helen Core 284.4 285.4 1.0 37.8 6.1
iCHU23-31 Helen Core 132.7 133.7 1.1 33.8 5.4
and Helen Core 140.8 143.8 3.0 19.2 3.1
and Helen Core 243.2 249.7 6.5 7.3 0.9
iCHU23-32 Helen Core 148.2 153.3 5.1 7.0 3.3
and Helen Core 221.4 224.0 2.6 12.2 0.4
and Helen Core 270.2 272.7 2.5 14.5 3.0
and Helen Core 284.4 291.3 6.9 8.4 2.5
and Helen Core 295.4 296.8 1.4 21.3 11.8
and Helen Core 334.9 336.4 1.5 7.1 1.3
iCHU23-33 Helen Core 290.4 310.6 20.2 14.4 3.2
and Helen Core 321.1 324.8 3.7 13.3 3.6
iCHU23-34 Helen Core 271.6 295.9 24.4 12.7 1.5
iCHU23-35 Helen Core 270.1 274.0 4.0 11.9 1.1
and Helen Core 283.2 290.8 7.6 6.8 2.0
and Helen Core 303.6 311.5 7.9 10.1 4.0
and Helen Core 323.6 331.6 8.0 14.3 5.8
and Helen Core 337.7 341.1 3.3 7.9 1.6
iCHU23-36 Helen Core 268.7 278.3 9.6 9.7 1.2
and Helen Core 299.6 302.4 2.8 33.9 11.9
UTM Drillhole ID East m North m Elevation m Azimuth Dip
NAD83 Zone 11
iCHU23-29 481771 4466011 1427 311 -67
iCHU23-30 481771 4466012 1428 323 -78
iCHU23-31 481772 4466012 1428 000 -77
iCHU23-32 481772 4466011 1428 355 -83
iCHU23-33 481773 4466012 1428 019 -80
iCHU23-34 481773 4466011 1428 045 -77
iCHU23-35 481773 4466011 1428 073 -82
iCHU23-36 481774 4466011 1428 087 -77
Figure 2 – 3D View of the Cove Deposit and Drill Program (CNW
Group/i-80 Gold Corp)
Figure 3 – Surface Plan View of the Cove Deposit (CNW Group/i-80
Gold Corp)
Figure 4 – Cross-section through Helen Zone (CNW Group/i-80 Gold
Corp)
The Helen and CSD Gap zones are comprised of Carlin-style
mineralization hosted primarily in the Favret limestone. Enhanced
grades and thicknesses of mineralized zones occur at structural
intersections, along the margins of dikes and sills, and within the axis
of the northwest striking Cove anticline. The McCoy-Cove Property
comprises a large package of approximately 13,000 hectares covering
an area roughly 15 km by 10 km that offers substantial exploration
upside as the bulk of work completed to-date has been focused on the
main deposit areas. This work has resulted in several new discoveries
that have received little to no follow-up including polymetallic
mineralization in the 2201 and Davenport targets. Previous drilling at
the 2201, mostly completed in 2014, intersected gold-rich polymetallic
veins that returned intercepts up to 182.9 g/t Au over 1.5 m in hole
PG14-02 and 40.2 g/t Au over 4.9 m in hole PG14-03. Additionally,
polymetallic sulphide mineralization intersections returned intercepts
up to 4.7 g/t Au, 311.1 g/t Ag, 4.4% Pb and 8.2% Zn over 3.0 m in
hole PG-02 and 1.1 g/t Au, 132.5 g/t Ag, 0.6% Pb and 9.0% Zn over
7.1 m in hole PG14-08. A single hole (PB18-02) drilled in 2018 east of
the Cove pit intersected 5.1 g/t Au, 410.3 g/t Ag, 5.0% Pb & 5.7% Zn
over 2.7 m in the Davenport target that has yet to be followed-up.
Only three holes have been drilled to the Favret limestone in the
pediment area to the east of the Cove pit where the Company
believes there is the potential to discover another significant deposit.
One hole completed in the pediment was drilled approximately one
kilometre to the east of the Cove pit and intersected 1.7 g/t Au and
364 g/t Ag over 11.4 m proximal to an interpreted large untested
structural trend that is a major future exploration target.
Please click here for further information on abbreviations and
conversions referenced in this press release.
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) and ME-MS61 (35 element suite; 0.4g 4 acid/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
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 McCoy-Cove and the potential of the Cove
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