Blackjack Zone - 19.14 % Zn, 0.4 g/t Au
& 29.2 g/t Ag over 30.4
m
East Hilltop Zone – 20.8 % Zn & 15.0
g/t Ag over 11.6 m and 235.5 g/t Ag,
5.7 % Pb, & 7.0 % Zn over 14.0
m
RENO,
Nev., Aug. 24, 2023 /CNW/ - i-80 GOLD
CORP. (TSX: IAU) (NYSE: IAUX) ("i-80", or the
"Company") is pleased to report additional positive
results from exploration drilling at the Company's 100%-owned Ruby
Hill Property ("Ruby Hill" or "the Property") located
in Eureka County, Nevada. The 2023
program continues to expand high-grade polymetallic
mineralization in multiple zones and has resulted in new
discoveries.
While awaiting approvals (now received) for
additional land disturbance permitting the Company to construct
road and drill pads for the expansion of the exploration program
along the Hilltop Corridor, drilling has been focused on the
Blackjack deposit and also the East Hilltop Zones. These zones were
discovered late in the 2022 program (East Hilltop skarn) and early
in 2023 (East Hilltop CRD). Drilling in 2023 has intersected
high-grade mineralization in multiple target areas including in
step-out drilling where mineralization remains wide open for
expansion. Table 1 provides a summary of recent drill results and
recent highlight results include:
- Blackjack Zone
-
- 19.14 % Zn, 0.4 g/t Au & 29.2 g/t Ag over
30.4 m (iRH23-18A)
- 17.8 % Zn, 0.9 g/t Au & 59.8 g/t Ag over
16.4 m (iRH23-29)
- East Hilltop Skarn
-
- 12.5 % Zn & 5.7 g/t Ag over 5.0 m (iRH23-16)
- 12.8 % Zn & 4.6 g/t Ag over 10.7 m (iRH23-16A)
- 11.6 % Zn & 5.8 g/t Ag over 6.1 m AND 14.7 % Zn & 3.7 g/t Ag over
4.6 m (iRH23-27)
- 20.8 % Zn & 15.0 g/t Ag over 11.6 m (iRH23-30)
- East Hilltop CRD (iRH23-26)
-
- 6.8 % Zn, 3.6 % Pb, 0.9 g/t Au & 136.3 g/t Ag over
9.1 m AND
- 10.4 % Zn, 7.1 % Pb, 0.6 g/t Au & 257.2 g/t Ag over
4.6 m AND
- 7.4 % Zn, 7.3 % Pb, 1.0 g/t Au & 323.5 g/t Ag over
6.1 m
- Gold Mineralized Zones
-
- 45.4 g/t Au & 50.2 g/t Ag over 17.5 m (iRH23-18A) – Tyche Discovery
- Recent drilling has intersected CRD mineralization
proximal to Blackjack (assays pending)
"Drilling at Ruby Hill continues to return
results that confirm the Property's capability to be a flagship
asset for i-80 with high-grade polymetallic base metal
mineralization occurring immediately adjacent to the high‑grade
Ruby Deeps gold deposit.", stated Tyler
Hill, Chief Geologist of i-80. "Our drill program
demonstrates significant potential to expand mineralization with
all zones open for expansion and multiple high-priority anomalies
identified from geophysical surveys remain untested."
In addition to drilling, geophysical surveys are
being completed to cover the Hilltop Corridor to the FAD deposit
that was acquired earlier in the year with the takeover of Paycore
Minerals. Multiple anomalies have been identified for follow-up
exploration.
Drill Program
In mid-2022, the Upper Hilltop Zone was
discovered with an intercept of 515.3 g/t Ag, 28.9 % Pb, 10.5 %
Zn and 0.9 g/t Au over 28.3 m in
hole iRH22-43 (see press release dated August 30, 2022). This led to the definition of
multiple polymetallic CRD and skarn zones to the south of the
Blackjack deposit, on the south side of the Archimedes pit,
situated along the Hilltop fault structure. Mineralization has now
been defined over a strike length of approximately 750 metres
including the Upper, Lower and East Hilltop Zones (see Figures 1
& 2). Current drilling is focused on the Blackjack and East
Hilltop Zones until new drill set-ups are constructed for
delineation and expansion drilling and to resume definition of the
Upper Hilltop Zone.
Blackjack Zone – The Blackjack deposit was
identified by previous owners, Homestake and Barrick, immediately
under the Archimedes pit when poly-metallic skarn mineralization
was discovered below the Archimedes pit (see Figure 1). Due to its
location beneath an inaccessible area in the pit, the Company is
utilizing directional core drilling to upgrade Blackjack to
resource status.
Step-out drill hole iRH23-18A extends
mineralization to the south with the most impressive skarn
intercept received to date since i-80 commenced drilling at Ruby
Hill. New intercepts from the 2023 drill program include:
- iRH23-18A - 19.4 % Zn, 29.2 g/t Ag and 0.4 g/t Au over
30.4 m
- iRH23-29 - 17.8 % Zn, 59.8 g/t Ag and 0.9 g/t Au over
16.4 m
Recent drilling in the Blackjack Zone has also
identified CRD mineralization in drilling in the upper central
portion of the deposit (assays pending). The Blackjack deposit
occurs to the west of the Graveyard Flats intrusive and is
underlain by Carlin-type gold
mineralization (Lower Jack), neither of which are part of the
current mineral resource at Ruby Hill.
East Hilltop Skarn – Late in the 2022
drilling program, high-grade skarn mineralization was discovered in
the East Hilltop target area with an intercept of 12.3 % Zn over
39.6 m (see press release dated
Dec. 19, 2022, and Fig. 1). This
mineralization is located to the south of, and in a near-identical
geological setting as the Blackjack deposit. Follow-up drilling
continues to expand skarn mineralization at East Hilltop and has
also discovered high-grade CRD mineralization. New intercepts in
the East Hilltop skarn zone include:
- iRH23-16 - 12.5 % Zn & 5.7 g/t Ag over 5.0 m – hole lost prior to main zone
- iRH23-16A - 12.8 % Zn & 4.6 g/t Ag over
10.7 m – wedge hole – main
zone
- iRH23-27 - 11.6 % Zn & 5.8 g/t Ag over 6.1 m AND 14.7 % Zn & 3.7 g/t Ag over
4.6 m
- iRH23-30 - 20.8 % Zn & 15.0 g/t Ag over
11.6 m
East Hilltop CRD – Early in the 2023 drill
program, high-grade CRD mineralization was discovered to the east
of the Upper Hilltop Zone and proximal to the East Hilltop Skarn
Zone with an intercept of 9.7 % Zn, 10.0 % Pb and 226.1 g/t Ag
over 8.4 m in hole
iRH23-10 (see press release dated April
25, 2023 and Figure 1). New hole iRH23-26 was drilled
to follow-up the initial discovery, returning high-grade
mineralization, and ongoing drilling continues to expand CRD
mineralization at East Hilltop with assays pending. Hole iRH23-26
intersected multiple zones of mineralization including:
- 6.8 % Zn, 3.6 % Pb, 0.9 g/t Au & 136.3 g/t Ag over
9.1 m
- 10.4 % Zn, 7.1 % Pb, 0.6 g/t Au & 257.2 g/t Ag over
4.6 m
- 7.4 % Zn, 7.3 % Pb, 1.0 g/t Au & 323.5 g/t Ag over
6.1 m
Tyche Zone – High-grade gold-sulphide
mineralization was discovered during the current program in a
previously untested area along the contact of the Graveyard Flats
intrusive (stock). Exceptional high-grade gold mineralization
assaying 45.4 g/t Au and 50.2 g/t Ag over 17.5 m was intersected in drill hole
iRH23‑18A (see press release dated August 2,
2023 and Figure 1). Once new drill set-ups are constructed,
the Company plans to complete additional follow-up drilling to
better assess the potential of this high-grade target.
FAD Zone – Drilling is also underway at
the FAD deposit which was secured through the acquisition of
Paycore Minerals earlier in 2023. Delineation and expansion
drilling is being completed in advance of a revised resource
estimate. Drilling completed to-date has returned multiple
intervals of visually impressive massive sulphide mineralization
(assays pending) that compliment previous drilling completed by
Paycore that demonstrate significant potential to expand
mineralization in the East Lobe, which continues to remain open for
expansion. Paycore drilling returned intercepts of 8.0 g/t Au,
79.0 g/t Ag, 10.0 % Zn & 1.0 % Pb over 27.4 m in hole PC22-10, 7.1 g/t Au, 376.0 g/t Ag,
6.3 % Zn & 10.3 % Pb over 14.8 m
in hole PC22‑08 and 1.1 g/t Au, 155.0 g/t Ag, 22.0 % Zn & 1.5 %
Pb over 12.5 m in hole
PC22-07.
TL Target (Exploration) – While awaiting
approvals to expand the drill program onto the BLM lands, eight of
the listed holes were drilled to test for potential mineralization
in the vicinity of the historic TL Mine. These holes generally
intersected narrower widths of modest grade CRD mineralization with
highlight intercepts of 0.3 g/t Au, 236.0 g/t Ag, 0.7 % Zn and
5.7 % Pb over 3.1 m (iRH23-13)
and 8.5 g/t Au, 85.5 g/t Ag, 0.9 % Zn and 7.3 % Pb over
3.0 m (iRH23-21).
Geophysical Surveys
Previous geophysical surveys (MT, gravity and
magnetic) have identified several highly perspective anomalies that
are believed to have the potential to represent additional massive
sulfide targets including the Spring
Valley and Deep Blue anomalies. Several of these surveys
stopped at the south side of the Archimedes pit and are now being
extended to cover the southern extension and the recently acquired
FAD Property including the largely untested Hilltop Corridor.
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 a major northwest striking fault structure
that is closely associated with the discovery of the Hilltop Zones
confirms the Company's geological teams' model that the Ruby Hill
Property could be host to multiple types of mineralization and
several large-scale deposits.
Table 1 – Highlight
New Assay Results from Ruby Hill
|
Drillhole ID
|
Zone
|
Type
|
From (m)
|
To (m)
|
Length (m)
|
Au (g/t)
|
Ag (g/t)
|
Pb (%)
|
Zn (%)
|
iRH23-11
|
Blackjack
|
Core
|
NSI
|
iRH23-12
|
Exploration
|
RC
|
NSI
|
iRH23-13
|
TL
|
RC
|
160.0
|
164.6
|
4.6
|
0.6
|
76.3
|
3.6
|
3.0
|
and
|
TL
|
RC
|
172.2
|
173.3
|
3.1
|
0.3
|
236.0
|
5.7
|
0.7
|
iRH23-14
|
Exploration
|
RC
|
242.3
|
257.6
|
15.2
|
0.6
|
40.5
|
-
|
-
|
iRH23-15
|
East Hilltop
|
Core
|
NSI
|
iRH23-16
|
East Hilltop
|
Core
|
296.8
|
298.4
|
1.6
|
-
|
4.0
|
-
|
9.1
|
and
|
East Hilltop
|
Core
|
303.2
|
308.2
|
5.0
|
-
|
5.7
|
-
|
12.5
|
and
|
East Hilltop
|
Core
|
311.9
|
313.8
|
1.9
|
-
|
4.0
|
-
|
10.5
|
iRH23-16A
|
East Hilltop
|
Core
|
410.0
|
420.6
|
10.7
|
-
|
4.6
|
-
|
12.8
|
iRH23-17
|
Upper
Hilltop
|
Core
|
230.2
|
232.6
|
2.3
|
0.9
|
50.1
|
0.3
|
1.2
|
iRH23-18
|
Blackjack
|
RC
|
Hole abandoned at 172
m
|
iRH23-18A
|
Tyche
|
Core
|
551.8
|
569.3
|
17.5
|
45.4
|
50.2
|
-
|
-
|
and
|
Blackjack
|
Core
|
592.2
|
622.6
|
3.0
|
0.8
|
25.5
|
-
|
10.7
|
and
|
Blackjack
|
Core
|
592.2
|
622.6
|
30.4
|
0.4
|
29.2
|
0.2
|
19.1
|
iRH23-19
|
TL
|
RC
|
187.5
|
208.8
|
21.3
|
1.1
|
74.6
|
0.4
|
-
|
iRH23-20
|
TL
|
RC
|
88.4
|
91.4
|
3.0
|
1.1
|
192.0
|
1.9
|
0.4
|
iRH23-21
|
TL
|
RC
|
330.7
|
333.8
|
3.0
|
8.5
|
85.5
|
7.3
|
0.9
|
iRH23-22
|
TL
|
RC
|
187.5
|
193.5
|
6.1
|
1.1
|
121.5
|
3.0
|
0.3
|
iRH23-23
|
TL
Exploration
|
RC
|
NSI
|
iRH23-24
|
East Hilltop
|
Core
|
305.1
|
311.5
|
6.4
|
-
|
3.0
|
-
|
5.1
|
iRH23-25
|
TL
Exploration
|
RC
|
NSI
|
iRH23-26
|
East Hilltop
|
Core
|
265.9
|
272.0
|
6.2
|
3.5
|
150.6
|
3.8
|
1.4
|
and
|
East Hilltop
|
Core
|
278.3
|
287.4
|
9.1
|
0.9
|
136.3
|
3.6
|
6.8
|
and
|
East Hilltop
|
Core
|
320.7
|
334.7
|
14.0
|
0.7
|
235.5
|
5.7
|
7.0
|
including
|
East Hilltop
|
Core
|
320.7
|
325.5
|
4.8
|
0.6
|
257.2
|
7.1
|
10.4
|
and incl.
|
East Hilltop
|
Core
|
328.6
|
334.7
|
6.1
|
1.0
|
323.5
|
7.3
|
7.4
|
iRH23-27
|
East Hilltop
|
Core
|
341.1
|
348.7
|
4.6
|
-
|
1.8
|
-
|
6.7
|
and
|
East Hilltop
|
Core
|
351.7
|
354.8
|
3.0
|
-
|
2.5
|
-
|
7.6
|
and
|
East Hilltop
|
Core
|
359.4
|
365.5
|
6.1
|
-
|
5.8
|
-
|
11.6
|
and
|
East Hilltop
|
Core
|
438.6
|
443.2
|
4.6
|
-
|
3.7
|
-
|
14.7
|
iRH23-28
|
TL
|
RC
|
199.6
|
201.2
|
1.5
|
0.1
|
12.0
|
0.3
|
4.9
|
iRH23-29
|
Blackjack
|
Core
|
597.4
|
613.8
|
16.4
|
0.9
|
59.8
|
0.8
|
17.8
|
and
|
Blackjack
|
Core
|
660.6
|
664.4
|
3.8
|
0.1
|
8.8
|
0.1
|
10.3
|
iRH23-30
|
East Hilltop
|
Core
|
419.6
|
421.9
|
2.3
|
-
|
14.6
|
-
|
17.6
|
and
|
East Hilltop
|
Core
|
437.5
|
449.1
|
11.6
|
-
|
15.0
|
-
|
20.8
|
* True widths estimated
at 70-90%. Numbers may not add due to rounding.
|
UTM
|
Drillhole ID
|
East m
|
North m
|
Elevation m
|
Azimuth
|
Dip
|
NAD83 Zone
11
|
iRH23-11
|
587344
|
4375328
|
1979
|
047
|
-52
|
iRH23-12
|
585534
|
4376118
|
1934
|
072
|
-62
|
iRH23-13
|
586789
|
4374862
|
1999
|
013
|
-81
|
iRH23-14
|
586061
|
4376210
|
1936
|
093
|
-70
|
iRH23-15
|
587525
|
4375145
|
1994
|
067
|
-73
|
iRH23-16&(A)
|
587526
|
4375147
|
1995
|
094
|
-59
|
iRH23-17
|
587385
|
4375282
|
1986
|
034
|
-77
|
iRH23-18
|
588152
|
4375782
|
1962
|
235
|
-48
|
iRH23-18A
|
588154
|
4375786
|
1962
|
231
|
-48
|
iRH23-19
|
586709
|
4374949
|
2000
|
076
|
-71
|
iRH23-20
|
586874
|
4374812
|
1993
|
251
|
-70
|
iRH23-21
|
586708
|
4374947
|
2000
|
260
|
-75
|
iRH23-22
|
586642
|
4374882
|
1996
|
103
|
-46
|
iRH23-23
|
587028
|
4374585
|
2009
|
081
|
-70
|
iRH23-24
|
587521
|
4375183
|
1994
|
094
|
-64
|
iRH23-25
|
587163
|
4374796
|
2010
|
266
|
-59
|
iRH23-26
|
587519
|
4375185
|
1994
|
089
|
-70
|
iRH23-27
|
587523
|
4375185
|
1994
|
094
|
-59
|
iRH23-28
|
586717
|
4374948
|
1999
|
120
|
-64
|
iRH23-29
|
588154
|
4375787
|
1962
|
243
|
-49
|
iRH23-30
|
587525
|
4375150
|
1994
|
106
|
-57
|
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 (Mineral
Point), Carlin-type gold (Ruby
Deeps/428/Lower Jack) and more recently gold-sulphide (Tyche).
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).
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). Select high-grade gold samples were also completed
with metallic screen fire assays using G-FASFAu11. 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,
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
info@i80gold.com.
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