Results Include 60.2 g/t Gold, 908.7 g/t
Silver, 15.7 % Lead and 1.1 % Zinc over 10.0
m
Also 1.9 g/t Gold, 631.3 g/t Silver, 33.0 % Lead
& 7.4 % Zinc over 18.3 m
RENO,
Nev., Nov. 14, 2022 /CNW/ - i-80 GOLD
CORP. (TSX: IAU) (NYSE: IAUX) ("i-80", or the
"Company") is pleased to report results from the first
four holes drilled to follow-up the recently discovered Hilltop
Zone that have confirmed high-grade, polymetallic CRD
mineralization at the Company's 100%‑owned Ruby Hill Property
("Ruby Hill" or "the Property") located in
Eureka County, Nevada.
The discovery hole in the Upper Hilltop Zone 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 (see
press release dated August 30th,
2022). Results contained in this release are from the first
four core holes drilled to follow-up this discovery (see Table 1)
and additional drilling is being completed in both the Upper and
Lower Hilltop horizons with assays pending.
Highlight results from recent core drilling in the "Upper
Horizon" at the Hilltop target include:
- iRH22-51
-
- 33.0 g/t Au, 3010.0 g/t Ag & 63.5 % Pb over 0.6 m and
- 3.1 g/t Au, 683.3 g/t Ag & 37.6 % Pb over 14.6 m
- iRH22-53:
-
- 1.9 g/t Au, 631.3 g/t Ag, 7.4 % Zn & 33.0 % Pb over
18.3 m
- iRH22-54
-
- 0.6 g/t Au, 374.1 g/t Ag, 3.9 % Zn & 20.2 % Pb over
20.8 m
- iRH22-55:
-
- 60.2 g/t Au, 908.7 g/t Ag, 1.1 % Zn & 15.7 % Pb over
10.0 m
Incl. 83.2 g/t Au, 1261.0 g/t Ag, 1.5 % Zn, & 22.1% Pb over
7.0 m
Owing to this successful drilling at the Hilltop Zone, the
program at Ruby Hill has again been expanded to facilitate
additional step-out drilling at this target. In addition to
the Upper Horizon, drilling is testing the Lower Horizon (assays
pending) where the initial hole intersected multiple zones of
mineralization including 238.8 g/t Ag, 11.0 % Zn & 9.0 % Pb
over 9.4 m and 469.5 g/t Ag, 11.8 %
Zn & 18.2 % Pb over 2.1
m.
"We believe that the grades of mineralization at Ruby Hill are
truly world-class and the Hilltop Zone ranks amongst the
highest-grade new discoveries being drilled anywhere on the
planet", stated Ewan Downie, CEO of
i-80. "Given its proximity to the underground infrastructure
planned in 2023, the Hilltop Zone, when combined with the Blackjack
deposit, is expected to be a major contributor to our future growth
profile as we ultimately look to produce gold, silver and base
metals."
The Hilltop discovery is a new zone of mineralization, located
approximately 400 metres southwest of the polymetallic Blackjack
Zone (see Figures 1 and 2), immediately south of the Archimedes pit
and proximal to the planned portal that the Company is advancing
for construction. Mineralization consists of polymetallic
carbonate replacement (CRD) in the form of massive and semi-massive
sulphide and oxide mineralization containing high-grade precious
metals and base metals. Continued definition and expansion drilling
is underway and the horizon remains open along strike and at
depth.
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 1970'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 Hilltop discovery opens up a structural corridor measuring
greater than 1.5 km between the Archimedes pit and the original
Ruby Hill Mine (see Figure 2), which
was previously underexplored due to post-mineral alluvial cover.
Mineralization in the upper horizon occurs immediately below
alluvial cover at a depth of approximately 150 m. Geophysical surveys have been completed
over the discovery area, including downhole electromagnetic (EM)
and surface and induced polarization (IP) surveys, in an effort to
identify additional massive sulfide targets.
![Figure 1 – Cross Section Hilltop Target (CNW Group/i-80 Gold Corp) Figure 1 – Cross Section Hilltop Target (CNW Group/i-80 Gold Corp)](https://mma.prnewswire.com/media/1946535/i_80_Gold_Corp_i_80_Gold_Hilltop_Discovery_Yields_Bonanza_Grade.jpg)
![Figure 2 – Ruby Hill Surface Plan (CNW Group/i-80 Gold Corp) Figure 2 – Ruby Hill Surface Plan (CNW Group/i-80 Gold Corp)](https://mma.prnewswire.com/media/1946536/i_80_Gold_Corp_i_80_Gold_Hilltop_Discovery_Yields_Bonanza_Grade.jpg)
Infill and step-out drilling was also completed in 2022 in the
Ruby Deeps (Carlin-type) gold
deposit to aide in the advancement of the Company's plan to develop
an underground mine at Ruby Hill with mineralization accessed via a
ramp from the Archimedes open pit. Work is now progressing for the
completion of updated mineral resource estimates (gold and
polymetallic zones) and an initial economic study for the gold
zones (only). The current program at Ruby Hill is one of several
drill programs on i-80 projects in 2022 that are collectively
budgeted to comprise more than 50,000 metres.
Table 1 – Highlight Assay Results from Ruby Hill Hilltop
Zone
New 2022 Drill Results from Ruby
Hill
|
Drillhole
ID
|
Zone
|
Type
|
From (m)
|
To (m)
|
Length
(m)
|
Au (g/t)
|
Ag (g/t)
|
Pb (%)
|
Zn (%)
|
iRH22-51
|
Hilltop
Upper
|
Core
|
172.2
|
172.8
|
0.6
|
33.0
|
3010.0
|
63.5
|
0.1
|
and
|
Hilltop
Lower
|
Core
|
189.0
|
203.6
|
14.6
|
3.1
|
683.3
|
37.6
|
0.2
|
iRH22-53
|
Hilltop
Upper
|
Core
|
187.5
|
205.7
|
18.3
|
1.9
|
631.3
|
33.0
|
7.4
|
iRH22-54
|
Hilltop
Upper
|
Core
|
173.8
|
194.6
|
20.8
|
0.6
|
374.1
|
20.2
|
3.9
|
and
|
Hilltop
Upper
|
Core
|
211.0
|
211.8
|
0.8
|
0.8
|
639.0
|
29.7
|
0.2
|
iRH22-55
|
Hilltop
Upper
|
Core
|
168.6
|
171.0
|
2.4
|
0.2
|
161.6
|
9.1
|
2.4
|
and
|
Hilltop
Upper
|
Core
|
199.4
|
209.4
|
10.0
|
60.2
|
908.7
|
15.7
|
1.1
|
including
|
Hilltop
Upper
|
Core
|
199.4
|
206.3
|
7.0
|
83.2
|
1261.0
|
22.1
|
1.5
|
*True widths are estimated at 70-90%.
UTM
|
Drillhole ID
|
East m
|
North m
|
Elevation m
|
Azimuth
|
Dip
|
NAD83 Zone 11
|
iRH22-51
|
587520
|
4375179
|
1994
|
270
|
-70
|
iRH22-53
|
587385
|
4375284
|
1994
|
122
|
-48
|
iRH22-54
|
587384
|
4375284
|
1986
|
118
|
-55
|
iRH22-55
|
587383
|
4375284
|
1986
|
120
|
-60
|
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.
Cretaceous age mineralization in the Eureka district is comprised of skarn
(Blackjack), CRD (Hilltop/historic mines), and distal disseminated
Au-Ag mineralization (Mineral Point). However, the magmatic source
of the mineralizing fluids remains elusive. Recent analysis of
geophysical surveys has delineated a large-scale, deep-seated,
magnetic anomaly and associated magnetotelluric conductor below the
western portion of the Archimedes pit on the Ruby Hill Property
that is also associated with a large metamorphic halo, distinct
from that at the Blackjack skarn. This geophysical anomaly has
never been tested with drilling and will become a primary target
for the company in 2023.
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 facility
that includes an autoclave.
www.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 and the growth potential of i-80's growth
profile. 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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