Including 28.1 g/t Au over 18.7 m, 15.0 g/t Au over 14.6 m, & 33.8 g/t over 4.8m
RENO, Nev., June 1, 2022 /PRNewswire/ - i-80 GOLD
CORP. (TSX: IAU) (NYSE: IAUX) ("i-80", or the
"Company") is pleased to announce results from the
first sixteen holes drilled in the 2022 underground program at the
Granite Creek Property to define mineralization for mining and test
for extensions of the Ogee Zone, the primary target of the
underground program. The ongoing surface and underground drill
program at the Company's Granite Creek Property ("Granite
Creek" or "the Property") located in Humboldt County, Nevada is focused on defining
mineralization for inclusion in an updated Feasibility Study
expected at the end of the ~30,000 metre drill program.
During the fourth quarter of 2021, underground drilling
platforms were completed providing access to test the expansion
opportunity of the Ogee Zone, expected to provide the bulk of
mineralization to be mined in the next twelve months. Initial
drilling is primarily focused on defining mineralization
immediately below existing mine workings (see Figure 1 and Table
1). Drilling in 2022 continues to focus on further expansion
in the area between the bottom level of the mine workings and the
deepest hole drilled by i-80 so far to test the Ogee Zone depth
extension (from surface), iGS21-15, that intersected multiple
high-grade mineralized horizons including 13.3 g/t Au over
13.1 m, 20.3 g/t Au over 7.5 m and 10.1 g/t Au over 17.5 m. Additional drilling has focused on
extensions of the Otto, Adam Peak,
and Range Front faults beneath historic workings.
Highlight results from 2022 underground drilling at Granite
Creek:
- 28.1 g/t Au over 18.7 m in
hole iGU22-01
- 15.0 g/t Au over 14.6 m in
hole iGU22-03
- 33.8 g/t Au over 4.8 m in hole
iGU22-13
- 22.5 g/t Au over 3.0 m in hole
iGU22-14
The Company is in the process of expanding the underground
workings such that multiple headings are available for mining. The
decline is being driven to depth and initial work is being
performed to assess the potential to access the new South Pacific
Zone located immediately below and to the north of the mine
workings. It is expected that first mineralization from the
underground operation will be trucked to Twin Creeks for processing
in mid-2022, pursuant to the agreement with Nevada Gold Mines, until such time that the
Company's Lone Tree facility is
operational.
"These drill results further increase our confidence in the next
level to be mined from the Ogee Zone.", stated Tyler Hill, Senior Geologist of i-80. "We
continue to test extensions of the Ogee Zone at depth, which will
complement expansion drilling in the new South Pacific Zone."
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 that at 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 from the existing
underground workings and step-out drilling aimed at expanding
resources is currently underway.
Table 1 – Summary Assay Results
from Initial 2022 Underground Drilling
New 2022 Drill Results from Granite Creek – Estimated
true widths 70-90%
|
Drillhole ID
|
Zone
|
Type
|
From (m)
|
To (m)
|
Length (m)
|
Au (g/t)
|
iGU22-01
|
Ogee
|
Core
|
151.9
|
170.6
|
18.7
|
28.1
|
iGU22-02
|
Otto
|
Core
|
40.8
|
41.5
|
0.6
|
20.4
|
And
|
Range Front
|
Core
|
62.3
|
63.4
|
1.1
|
11.1
|
iGU22-03
|
Ogee
|
Core
|
146.9
|
161.5
|
14.6
|
15.0
|
And
|
LH
|
Core
|
209.7
|
211.9
|
2.2
|
9.9
|
iGU22-04
|
Otto
|
Core
|
28.7
|
30.2
|
1.5
|
18.3
|
iGU22-05
|
Ogee
|
Core
|
139.3
|
140.5
|
1.2
|
16.4
|
iGU22-06
|
Ogee
|
Core
|
150.3
|
153.1
|
2.8
|
12.7
|
iGU22-07
|
Otto
|
Core
|
40.5
|
41.4
|
0.9
|
9.5
|
And
|
Range Front
|
Core
|
111.6
|
113.1
|
1.5
|
9.7
|
iGU22-08
|
Otto
|
Core
|
53.5
|
54.6
|
1.1
|
6.0
|
iGU22-09
|
Otto
|
Core
|
29.3
|
30.3
|
1.1
|
8.0
|
And
|
Adam Peak
|
Core
|
65.8
|
71.3
|
5.5
|
7.0
|
And
|
Range Front
|
Core
|
75.9
|
77.4
|
1.5
|
14.5
|
iGU22-10
|
No significant
intercepts
|
iGU22-11
|
Otto
|
Core
|
46.9
|
53.5
|
6.6
|
6.5
|
iGU22-12
|
Ogee
|
Core
|
199.6
|
201.2
|
1.5
|
12.0
|
iGU22-13
|
Ogee
|
Core
|
165.2
|
170.0
|
4.8
|
33.8
|
iGU22-14
|
Otto
|
Core
|
50.3
|
53.3
|
3.0
|
22.5
|
iGU22-15
|
Otto
|
Core
|
307.8
|
309.4
|
1.6
|
13.2
|
And
|
Adam Peak
|
Core
|
314.1
|
320.1
|
6.0
|
9.0
|
iGU22-16
|
Otto
|
Core
|
26.7
|
27.1
|
0.5
|
21.9
|
And
|
Adam Peak
|
Core
|
51.4
|
55.5
|
4.1
|
13.4
|
And
|
Range Front
|
Core
|
91.0
|
92.6
|
1.6
|
21.0
|
UTM
|
Drillhole ID
|
East m
|
North m
|
Elevation m
|
Azimuth
|
Dip
|
NAD83 Zone 11
|
iGU22-01
|
478250
|
4554070
|
1453
|
353
|
-34
|
iGU22-02
|
478069
|
4554190
|
1388
|
285
|
-39
|
iGU22-03
|
478250
|
4554070
|
1453
|
359
|
-35
|
iGU22-04
|
478069
|
4554190
|
1388
|
309
|
-31
|
iGU22-05
|
478250
|
4554070
|
1453
|
333
|
-34
|
iGU22-06
|
478250
|
4554070
|
1453
|
334
|
-36
|
iGU22-07
|
478069
|
4554189
|
1387
|
265
|
-60
|
iGU22-08
|
478250
|
4554070
|
1453
|
346
|
-40
|
iGU22-09
|
478071
|
4554191
|
1388
|
342
|
-48
|
iGU22-10
|
478250
|
4554070
|
1453
|
335
|
-40
|
iGU22-11
|
478071
|
4554192
|
1388
|
359
|
-17
|
iGU22-12
|
478250
|
4554070
|
1453
|
348
|
-45
|
iGU22-13
|
478250
|
4554070
|
1453
|
333
|
-45
|
iGU22-14
|
478071
|
4554191
|
1387
|
009
|
-60
|
iGU22-15
|
478250
|
4554070
|
1453
|
346
|
-48
|
iGU22-16
|
478071
|
4554191
|
1387
|
009
|
-31
|
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 analyzed using Au-AA23 (Au; 30g fire assay) and ME-ICP41 (35
element suite; 0.5g Aqua Regia/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
Tim George, PE, Mine Operations Manager, 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 well-financed, 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 facility that includes an autoclave.
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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SOURCE i-80 Gold Corp