Upper Hilltop Zone: 1.7 g/t Gold,
421.3 g/t Silver, 6.9 % Zinc, & 19.8 % Lead over 15.2 meters
and 25.3 g/t Gold,
848.0 g/t Silver, & 7.9 % Lead over 7.6 meters
Lower Hilltop Zone: 4.2
g/t Gold, 433.6 g/t Silver, 20.7 % Zinc & 12.4 % Lead over 3.1
meters
RENO,
Nev., Feb. 23, 2023 /CNW/ - i-80 GOLD
CORP. (TSX: IAU) (NYSE: IAUX) ("i-80", or the
"Company") is pleased to report continued high-grade
poly-metallic results from drilling completed in 2022 and the
discovery new CRD mineralization at the recently discovered Hilltop
Zones within the Company's 100%-owned Ruby Hill Property ("Ruby
Hill" or "the Property") located in Eureka County, Nevada.
The Upper, Lower and East Hilltop Zones are three newly
discovered Carbonate Replacement Deposit-type mineralization (CRD)
zones closely associated with the newly identified Hilltop fault
structure located on the south side of the Archimedes pit (see
Images 1 & 2). Previously released results from drilling
in the Upper Hilltop Zone returned high-grade intercepts including
515.3 g/t Ag, 28.9 % Pb, 10.5 % Zn & 0.9 g/t Au over
28.3 m, 1.9 g/t Au, 631.3 g/t
Ag, 7.4 % Zn & 33.0 % Pb over 18.3
m and 60.2 g/t Au, 908.7 g/t Ag, 1.1 % Zn & 15.7
% Pb over 10.0 m (see press
releases dated August 30th, 2022 and
November 14, 2022), 238.8 g/t Ag,
11.0 % Zn & 9.0 % Pb over 9.4
m in the Lower Hilltop Zone (see press release dated
August 30, 2022) and the discovery of
the East Hilltop Zone announced just prior to year-end where the
first hole testing this target intersected an impressive 12.3 %
Zn over 39.6 m (see press release
dated Dec. 19, 2022 and Image
1). Results contained in this release are from drilling
completed in 2022.
New highlight results from 2022 drilling at Ruby Hill
include:
Upper Hilltop Zone
iRH22-42
- 0.8 g/t Au, 461.0 g/t Ag, 7.7 % Zn & 25.9 % Pb over
27.4 m
iRH22-52
- 1.7 g/t Au, 421.3 g/t Ag, 6.9 % Zn, 19.8 % Pb over
15.2 m
iRH22-66
- 25.3 g/t Au, 848.0 g/t Ag, 0.2 % Zn, 7.9 % Pb over
7.6 m
iRH22-70
- 3.0 g/t Au, 121.7 g/t Ag, 0.9 % Zn & 6.9 % Pb over
7.3 m and
- 7.2 g/t Au, 420.1 g/t Ag, 2.8 % Zn & 16.8 % Pb over
6.6 m
iRH22-72
- 2.5 g/t Au, 145.0 g/t Ag, 0.9 % Zn & 8.2 % Pb over
19.8 m
Lower Hilltop Zone
iRH22-39
- 0.8 g/t Au, 779.0 g/t Ag, 15.2 % Zn, 7.1 % Pb & 0.8 % Cu
over 1.4 m and
- 0.0 g/t Au, 993.0 g/t Ag, 18.1 % Zn, 39.6 % Pb & 1.8 %
Cu over 1.1 m
iRH22-40
- 4.2 g/t Au, 433.6 g/t Ag, 20.7 % Zn, 12.4 % Pb, & 0.6 %
Cu over 3.1 m
iRH22-41
- 0.8 g/t Au, 127.5 g/t Ag, 9.4 % Zn & 4.4 % Pb over
5.8 m and
- 1.6 g/t Au, 179.9 g/t Ag, 8.7 % Zn & 7.6 % Pb over
3.7 m
"Ongoing drilling in the new Hilltop discoveries continue to
display grades that rank amongst the highest in any new discovery
worldwide", stated Ewan Downie, CEO
of i-80. "Three target areas along the Hilltop fault structure were
tested by drilling in 2022, all of which intersected polymetallic
CRD and/or skarn base metal mineralization. These deposits are
located in close proximity to the underground infrastructure being
planned in 2023".
"The 2023 drill program will also test several targets
identified in geophysical surveys that are believed to be
prospective for CRD, skarn, or porphyry mineralization as we seek
to build on our highly successful 2022 exploration campaign at Ruby
Hill", stated Tyler Hill, Senior
Geologist of i-80. "In addition to these exciting results, we have
yet to test the Hilltop Corridor further south toward our property
boundary."
The Hilltop Corridor is a 1.5 km long, alluvial covered trend
immediately south of the Archimedes pit. It is believed to be host
to multiple feeder fault structures and is largely untested by
previous drilling owing to the alluvial cover. The
identification of what appears to be a major northwest striking
fault structure that is closely associated with the discovery of
the Hilltop Zones confirm the Company's geological teams' model
that the Ruby Hill Property could be host to multiple types of
mineralization and several large-scale deposits. The Upper
and East Hilltop Zones appear to be associated with anomalies
identified in the Magnetotelluric (MT) geophysical survey along the
Hilltop fault structure.
Upper Hilltop Zone
The Upper Hilltop Zone discovery consists of polymetallic-rich
CRD that was first drilled in August of 2022. The first core
hole drilled returned an impressive 515.3 g/t Ag, 28.9 % Pb,
10.5 % Zn & 0.9 g/t Au over 28.3
m in hole iRH22-43. Follow-up drilling returned
results of 1.9 g/t Au, 631.3 g/t Ag, 7.4 % Zn & 33.0 % Pb
over 18.3 m in hole iRH22-53 and
60.2 g/t Au, 908.7 g/t Ag, 1.1 % Zn & 15.7 % Pb over
10.0 m in hole iRH22-55
confirming continuity of mineralization located immediately south
of the Archimedes pit.
The ongoing step-out drill program is focused on expanding and
defining this new zone of with numerous new high-grade intercepts
highlighted in Table 1 below. Hole iRH22-66 extends Upper Hilltop
high-grade mineralization a further 100 meters northwest.
Also listed is hole iRH22-42, a reverse circulation (RC) hole
drilled as a twin to iRH22-43 and displays near-identical grades
and widths as the intercept is located above the water table.
Owing to this confirmation, RC drilling is being performed to
complement core for the expansion of the Upper Zone.
Lower Hilltop Zone
The first hole drilled to test the Lower Hilltop target
(iRH22-25) was completed in late June of 2022 and intersected
high-grade CRD mineralization assaying 238.8 g/t Ag, 11.0 % Zn
& 9.0 % Pb over 9.4 m.
Multiple zones of flat-lying mineralization occur at Lower Hilltop
proximal to the Hilltop fault with mineralized intervals ranging
from 0.8 to 9.4 meters wide. Follow-up drilling completed in
2022 intersected bonanza-grade mineralization that remains open in
multiple directions - results are presented in Table 1.
Additional step-out drilling in the Lower Hilltop Zone is being
completed in the current drill campaign.
East Hilltop Zone
Towards the end of 2022, drilling tested for potential
mineralization to the south of the Blackjack deposit that is
located immediately below the Archimedes pit. The first hole
(iRH22-61) intersected high-grade skarn mineralization
approximately 450 meters to the south of Blackjack, assaying
12.3 % Zn over 39.6 m.
This discovery is interpreted to be along the eastern extension of
the newly identified Hilltop fault that is believed to be a
controlling structure for mineralization in this area (See Figure
1). The Hilltop fault strikes west-northwest and dips steeply
north. Mineralization in the Hilltop area is located proximal to
this fault with the largest zones at intersections with other
structures. Follow-up drilling is underway and has recently
discovered CRD mineralization (assays pending – see Photo 1) in
addition to additional skarn mineralization in the East Hilltop
target area suggesting the potential for mineralization over
>500 meter strike-length proximal to the Hilltop fault.
Geophysical surveys have been completed over the discovery area
and have identified several highly-prospective anomalies that are
believed to have the potential to represent additional massive
sulfide targets. Several of these anomalies will be the
tested in the 2023 drilling program and additional RC and core rigs
have been mobilized to Ruby Hill to accelerate the advancement of
the multiple mineralized zones within the Hilltop Corridor.
Skarn-type mineralization immediately below the Archimedes pit
was partially defined by previous owners Homestake and
Barrick. This mineralization occurs in the Blackjack target
area in close proximity to the Graveyard Flats intrusive complex
(see Figure 1) and is being drilled as part of the 2023
program. This target area remains open for expansion both
north and south.
Table 1 – Highlight
New Assay Results from the Upper Hilltop Zone
|
|
UTM
|
Drillhole ID
|
East m
|
North m
|
Elevation m
|
Azimuth
|
Dip
|
NAD83 Zone
11
|
iRH22-38
|
587348
|
4375336
|
1979
|
055
|
-89
|
iRH22-39
|
587346
|
4375338
|
1978
|
040
|
-80
|
iRH22-40
|
587346
|
4375348
|
1978
|
335
|
-83
|
iRH22-41
|
587345
|
4375342
|
1978
|
085
|
-80
|
iRH22-42
|
587501
|
4375203
|
1994
|
340
|
-83
|
iRH22-44
|
587520
|
4375188
|
1994
|
036
|
-48
|
iRH22-45
|
587331
|
4375223
|
1983
|
045
|
-75
|
iRH22-48
|
587497
|
4375206
|
1994
|
300
|
-75
|
iRH22-49
|
587521
|
4375182
|
1994
|
350
|
-71
|
iRH22-50
|
587519
|
4375181
|
1994
|
300
|
-77
|
iRH22-52
|
587388
|
4375281
|
1986
|
122
|
-48
|
iRH22-58
|
587383
|
4375284
|
1986
|
112
|
-56
|
iRH22-59
|
587384
|
4375284
|
1986
|
080
|
-70
|
iRH22-60
|
587387
|
4375289
|
1986
|
100
|
-65
|
iRH22-61
|
587520
|
4375184
|
1994
|
105
|
-55
|
iRH22-62
|
587522
|
4375187
|
1994
|
240
|
-70
|
iRH22-63
|
587521
|
4375187
|
1994
|
240
|
-89
|
iRH22-64
|
587285
|
4375573
|
1867
|
180
|
-68
|
iRH22-66
|
587385
|
4375289
|
1986
|
065
|
-79
|
iRH22-67
|
587502
|
4375203
|
1994
|
350
|
-75
|
iRH22-68
|
587385
|
4375283
|
1986
|
155
|
-55
|
iRH22-70
|
587388
|
4375282
|
1986
|
115
|
-62
|
iRH22-72
|
587385
|
4375283
|
1986
|
135
|
-58
|
iRH22-73
|
587394
|
4375287
|
1986
|
090
|
-50
|
|
|
|
|
|
|
|
|
|
|
Drillhole ID
|
Zone
|
Type
|
From (m)
|
To (m)
|
Length (m)
|
Au (g/t)
|
Ag (g/t)
|
Pb (%)
|
Zn (%)
|
iRH22-38
|
Lower
Hilltop
|
Core
|
523.0
|
523.8
|
0.8
|
4.7
|
47.2
|
0.3
|
1.7
|
iRH22-39
|
Lower
Hilltop
|
Core
|
583.4
|
584.8
|
1.4
|
0.8
|
779.0
|
7.1
|
15.2
|
and
|
Lower
Hilltop
|
Core
|
604.6
|
605.6
|
1.1
|
-
|
933.0
|
39.6
|
18.1
|
iRH22-40
|
Lower
Hilltop
|
Core
|
559.1
|
562.2
|
3.1
|
4.2
|
433.6
|
12.4
|
20.7
|
iRH22-41
|
Lower
Hilltop
|
Core
|
559.3
|
560.8
|
1.5
|
0.3
|
118.0
|
4.6
|
14.8
|
and
|
Lower
Hilltop
|
Core
|
568.8
|
574.5
|
5.8
|
0.8
|
127.5
|
4.4
|
9.4
|
and
|
Lower
Hilltop
|
Core
|
604.9
|
608.5
|
3.7
|
1.6
|
179.9
|
7.6
|
8.7
|
iRH22-42
|
Upper
Hilltop
|
RC
|
149.4
|
176.8
|
27.4
|
0.8
|
461.0
|
25.9
|
7.7
|
iRH22-44
|
Blackjack
|
Core
|
574.5
|
577.0
|
2.4
|
1.2
|
9.8
|
-
|
6.7
|
iRH22-45
|
Lower
Hilltop
|
Core
|
NSI
|
iRH22-48
|
Upper
Hilltop
|
RC
|
NSI
|
iRH22-49
|
Upper
Hilltop
|
RC
|
NSI
|
iRH22-50
|
Upper
Hilltop
|
RC
|
160.0
|
161.5
|
1.5
|
0.2
|
98.0
|
9.4
|
2.6
|
and
|
Upper
Hilltop
|
RC
|
173.7
|
178.3
|
4.6
|
0.9
|
406.3
|
9.5
|
0.5
|
iRH22-52
|
Upper
Hilltop
|
RC
|
199.6
|
214.9
|
15.2
|
1.7
|
421.3
|
19.8
|
6.9
|
iRH22-58
|
Upper
Hilltop
|
RC
|
179.8
|
185.9
|
6.1
|
0.8
|
199.3
|
8.4
|
0.9
|
iRH22-59
|
Upper
Hilltop
|
RC
|
NSI
|
iRH22-60
|
Upper
Hilltop
|
RC
|
Hole abandoned before
target
|
iRH22-61*
|
East Hilltop
|
RC
|
399.3
|
438.9
|
39.6
|
-
|
3.9
|
-
|
12.3
|
iRH22-62
|
Upper
Hilltop
|
RC
|
NSI
|
iRH22-63
|
Upper
Hilltop
|
Core
|
NSI
|
iRH22-64
|
Lower
Hilltop
|
RC
|
338.3
|
344.4
|
6.1
|
1.3
|
-
|
-
|
-
|
iRH22-66
|
Upper
Hilltop
|
RC
|
204.2
|
211.8
|
7.6
|
25.3
|
848.0
|
7.9
|
0.2
|
and
|
Lower
Hilltop
|
Core
|
563.2
|
564.8
|
1.6
|
0.1
|
93.5
|
3.5
|
7.0
|
iRH22-67
|
Upper
Hilltop
|
RC
|
161.5
|
163.1
|
1.5
|
0.2
|
179.0
|
11.9
|
2.5
|
and
|
Upper
Hilltop
|
RC
|
169.2
|
172.2
|
3.0
|
0.2
|
111.5
|
5.0
|
0.8
|
and
|
Upper
Hilltop
|
RC
|
175.3
|
181.4
|
7.6
|
0.2
|
24.8
|
1.1
|
3.1
|
iRH22-68
|
Upper
Hilltop
|
RC
|
175.3
|
179.8
|
4.6
|
0.6
|
281.0
|
12.8
|
0.2
|
and
|
Upper
Hilltop
|
RC
|
204.2
|
205.7
|
1.5
|
3.6
|
324.0
|
15.1
|
0.3
|
iRH22-69
|
Blackjack
|
Core
|
Hole to be completed in 2023
|
iRH22-70
|
Upper
Hilltop
|
Core
|
163.7
|
171.0
|
7.3
|
3.0
|
121.7
|
6.9
|
0.9
|
and
|
Upper
Hilltop
|
Core
|
174.7
|
181.2
|
6.6
|
7.2
|
420.1
|
16.8
|
2.8
|
iRH22-71
|
Blackjack
|
Core
|
Hole to be completed in 2023
|
iRH22-72
|
Upper
Hilltop
|
RC
|
190.5
|
210.3
|
19.8
|
2.5
|
145.0
|
8.2
|
0.9
|
iRH22-73
|
Upper
Hilltop
|
RC
|
231.7
|
234.7
|
3.0
|
1.6
|
133.0
|
3.3
|
2.5
|
and
|
Upper
Hilltop
|
RC
|
240.8
|
242.3
|
1.5
|
0.3
|
108.0
|
11.6
|
0.5
|
* Denotes previously
released assay. True widths estimated at 70-90%. Several
holes not listed were previously released. Numbers may not add due
to rounding.
|
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. Since the 1960's, the CRD
potential of the Eureka District
has been largely overlooked in favour of exploration for
Carlin-type gold deposits and the
Company considers the opportunity to be substantial. The Ruby
Hill Property is one of the Company's primary assets and is host to
the core 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.
Multiple types of mineralization have been identified in the
Hilltop Corridor including skarn (Blackjack), CRD (Hilltop/historic
mines), distal disseminated Au-Ag mineralization (Mineral Point)
and locally Carlin-type gold.
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 updated mineral resource estimates (gold and
polymetallic zones) and an initial economic study for the gold
zones (only).
Ruby Hill
Teach-in
The Company will be hosting a Ruby Hill technical teach-in on
Thursday, February 23, 2023 at
12:00pm EST, to provide a detailed
summary of geophysical survey completed at the Ruby Hill Property
and the exploration plans for the property in 2023.
Microsoft Teams webcast and
conference call details:
Date: February 23, 2023
Time: 12:00pm
Meeting
Link:
https://teams.microsoft.com/l/meetup-join/19%3ameeting_OWVjOWVkYzUtZGU5Zi00YjQ4LWI5YWMtZTBmZTMxOWY5NDk5%40thread.v2/0?context=%7b%22Tid%22%3a%220c746063-dd52-456c-8b21-57fe5a8b03f0%22%2c%22Oid%22%3a%227acd9027-5d20-40da-a6e0-e72e27785d02%22%7d
Meeting ID: 264 885 958 845
Passcode: jBfzN6
Dial-in (audio only): 1-437-371-2618
Phone Conference Passcode: 319150803#
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 (Au; 30g fire assay; ALS) and ME-ICP61a
(33 element suite; 0.4g Four Acid/ICP-AES; ALS). Overlimit samples
of Ag, Pb, and Zn are analyzed by ore-grade methods comprising
HF-HNO3-HClO4 Digest, HCl leach and ICP-AES. Additional samples
overlimit ore-grade methods are analyzed by acid dissolution and
titration. 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 (gold and polymetallic),
duplicates, and blanks into the sample stream with a stringent
review of all results.
Qualified Person
Tyler Hill, CPG-12146, Senior
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 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
facilities.
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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SOURCE i-80 Gold Corp