Results Include 9.0 g/t Au over 51.2 m, 14.4 g/t Au over 14.2 m & 11.0 g/t Au over 9.9 m
RENO,
Nev., Nov. 29, 2022 /PRNewswire/ - i-80
GOLD CORP. (TSX: IAU) (NYSE: IAUX) ("i-80", or the
"Company") is pleased to announce continued positive
results from its ongoing drill program at the Company's 100%-owned
Ruby Hill Property ("Ruby Hill" or "the Property")
located in Eureka County,
Nevada.
Owing to the substantial success of the 2022 exploration
campaign, including multiple new discoveries, the drilling program
at Ruby Hill has again been increased and will be active until
year-end with a focus on expanding the recent discovery of
high-grade polymetallic mineralization in the Hilltop corridor.
New results from drilling at the Ruby Deeps deposit continue to
expand mineralization further demonstrating excellent continuity of
mineralization, impressive widths and grades, often in excess of 10
grams per ton gold (g/t Au), and favourable ground conditions. Hole
iRH22-57 intersected 9.0 g/t Au over 51.2
m, expanding mineralization in the Ruby Deeps
50 m to the north of iRH21-05 that
returned 7.1 g/t Au over 78.6
m. Hole iRH22-29 intersected 13.3 g/t Au over
6.4 m and 11.3 g/t Au over
5.8 m, expanding mineralization
to the south of iRH22-06 that intersected 19.8 g/t Au over
33.2 m. Mineralization
remains open for expansion to the north and south (see Figures 1
& 2 and Table 1).
Highlight results from new drilling in the Ruby Deeps
horizon:
- iRH22-29: 13.3 g/t Au over 6.4
m (0.39 oz/ton – 21.0 ft) and 11.3 g/t Au over 5.8 m (0.33 oz/ton – 19.0 ft)
- iRH22-32: 14.4 g/t Au over 14.2 m (0.42 oz/ton – 46.5 ft) and 12.2 g/t Au over
8.1 m (0.36 oz/ton – 40.0
ft)
- iRH22-56: 11.1 g/t Au over 9.9
m (0.32 oz/ton – 32.5 ft) and 10.7 g/t Au over 6.4 m (0.31 oz/ton – 21.0 ft)
- iRH22-57: 9.0 g/t Au over 51.2
m (0.26 oz/ton – 173.0 ft)
Ongoing drilling is focused on defining and expanding gold
mineralization in the primary zones while also testing several
high-potential targets on the Property including the recent Hilltop
discovery. Step-out drilling in both the Upper and Lower Hilltop
Zones continues to intersect sulphide mineralization (additional
results pending), confirming substantial expansion potential and a
recently completed geophysical survey has identified several nearby
high-priority anomalies. As a result, the 2022 drill program
at Ruby Hill will continue with more than 40,000 metres expected to
be completed by year-end.
Following the 2022 drill program, the Company will complete a
revised resource estimate for the Ruby Deeps deposit prior to the
completion of an economic study. Confirmatory drilling is also
being completed in the Blackjack Zone with the goal of including it
in the 2023 resource updates.
The Ruby Deeps deposit is comprised of the 426 Zone, the upper
part of the deposit interpreted to consist of more vertical
mineralization hosted within or proximal to the northeast striking
426 fault structure, and the deeper Ruby Deeps Zone, a flat-lying,
north-south striking, sulphide zone located in the hanging wall of
the Holly and 150 fault structures. Both zones remain open for
expansion.
"Ruby Hill has truly outperformed expectation, demonstrating the
property's potential to host both a large Carlin-type gold deposit and also extremely
high-grade polymetallic CRD mineralization", stated Tyler Hill, Senior Geologist of i-80. "Apparent
rock quality at the Ruby Deeps deposit appears more competent than
at most other Nevada deposits of
this type which bodes well for mining."
The Ruby Hill Property is one of the Company's primary assets
and is host to the core infrastructure within the Eureka District of the Battle Mountain-Eureka
Trend. The Property is host to multiple gold, gold-silver and
polymetallic (base metal) deposits.
Holes not listed in Table 1 below were either previously
released or drilled to test the Hilltop Zones, many of which will
be part of a separate release. The 007 Zone is a new horizon of
oxide mineralization located in close proximity to the 426 Zone.
The Blue Sky drilling was testing a broad area located
approximately 1 km to the north of the Archimedes pit – gold
mineralization intersected in several holes provides a new target
for drilling in 2023.
Table 1 – Highlight Assay Results from Ruby Hill Drilling
New 2022 Drill Results
from Ruby Hill – Estimated true widths 85-95%, NSI Denotes No
Significant Intercept
|
Drillhole ID
|
Zone
|
Type
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au
(g/t)
|
iRH21-21
|
Ruby Deeps
|
Core
|
555.3
|
561.4
|
6.1
|
7.7
|
and
|
Ruby Deeps
|
Core
|
630.0
|
633.1
|
3.0
|
7.1
|
iRH22-22
|
Blue Sky
|
Core
|
NSI
|
iRH22-23
|
Blue Sky
|
Core
|
NSI
|
iRH22-24
|
Blue Sky
|
Core
|
NSI
|
iRH22-26
|
Ruby Deeps
|
Core
|
458.1
|
469.1
|
11.0
|
8.3
|
iRH22-27A
|
Ruby Deeps
|
Core
|
605.1
|
608.1
|
3.0
|
7.9
|
and
|
Ruby Deeps
|
Core
|
692.0
|
696.2
|
4.1
|
7.7
|
iRH22-28
|
Ruby Deeps
|
Core
|
318.7
|
321.6
|
2.9
|
7.5
|
and
|
Ruby Deeps
|
Core
|
348.7
|
357.2
|
8.5
|
9.5
|
and
|
Ruby Deeps
|
Core
|
377.3
|
380.1
|
2.7
|
7.1
|
and
|
Ruby Deeps
|
Core
|
491.3
|
494.4
|
3.0
|
7.7
|
and
|
Ruby Deeps
|
Core
|
501.7
|
507.2
|
5.5
|
6.3
|
iRH22-29
|
Ruby Deeps
|
Core
|
300.8
|
307.2
|
6.4
|
13.3
|
and
|
Ruby Deeps
|
Core
|
352.3
|
358.1
|
5.8
|
11.3
|
iRH22-30
|
Blue Sky
|
Core
|
580.6
|
600.5
|
19.8
|
3.2
|
including
|
Blue Sky
|
Core
|
591.3
|
597.4
|
6.1
|
5.3
|
iRH22-31
|
Blue Sky
|
Core
|
NSI
|
iRH22-32
|
Ruby Deeps
|
Core
|
455.5
|
458.4
|
2.9
|
13.8
|
and
|
Ruby Deeps
|
Core
|
465.1
|
469.2
|
4.1
|
7.5
|
and
|
Ruby Deeps
|
Core
|
485.7
|
499.9
|
14.2
|
14.4
|
and
|
Ruby Deeps
|
Core
|
506.0
|
510.5
|
4.6
|
13.0
|
and
|
Ruby Deeps
|
Core
|
591.3
|
603.5
|
8.1
|
12.2
|
iRH22-33
|
007
|
Core
|
NSI
|
iRH22-34
|
007
|
Core
|
455.4
|
458.6
|
3.2
|
4.3
|
iRH22-35
|
007
|
Core
|
444.6
|
451.6
|
7.0
|
6.5
|
including
|
007
|
Core
|
448.7
|
451.6
|
2.9
|
11.0
|
and
|
007
|
Core
|
489.4
|
492.6
|
3.2
|
7.8
|
iRH22-36
|
Ruby Deeps
|
Core
|
496.1
|
496.8
|
0.8
|
10.8
|
and
|
Ruby Deeps
|
Core
|
524.7
|
530.4
|
5.6
|
5.8
|
iRH22-37
|
Blue Sky
|
Core
|
NSI
|
iRH22-46
|
007
|
Core
|
NSI
|
iRH22-47
|
007
|
Core
|
NSI
|
iRH22-56
|
Ruby Deeps
|
Core
|
600.5
|
608.1
|
7.6
|
8.2
|
and
|
Ruby Deeps
|
Core
|
624.9
|
634.8
|
9.9
|
11.1
|
and
|
Ruby Deeps
|
Core
|
675.4
|
681.8
|
6.4
|
10.7
|
iRH22-57
|
Ruby Deeps
|
Core
|
685.5
|
738.2
|
51.2
|
9.0
|
UTM
|
Drillhole ID
|
East m
|
North m
|
Elevation m
|
Azimuth
|
Dip
|
NAD83 Zone
11
|
iRH22-21
|
587394
|
4376094
|
1964
|
322
|
-79
|
iRH22-22
|
587938
|
4376070
|
1954
|
214
|
-59
|
iRH22-23
|
587193
|
4376659
|
1938
|
130
|
-87
|
iRH22-24
|
587741
|
4376837
|
1966
|
300
|
-85
|
iRH22-26
|
587060
|
4375985
|
1958
|
160
|
-78
|
iRH22-27A
|
587170
|
4376001
|
1965
|
180
|
-86
|
iRH22-28
|
587144
|
4375779
|
1836
|
250
|
-87
|
iRH22-29
|
587143
|
4375779
|
1833
|
180
|
-69
|
iRH22-30
|
587147
|
4375771
|
1833
|
140
|
-83
|
iRH22-31
|
587458
|
4376966
|
1969
|
330
|
-82
|
iRH22-32
|
587060
|
4375988
|
1958
|
158
|
-72
|
iRH22-33
|
587488
|
4376040
|
1966
|
035
|
-84
|
iRH22-34
|
587493
|
4376023
|
1966
|
020
|
-84
|
iRH22-35
|
587498
|
4376036
|
1966
|
190
|
-86
|
iRH22-36
|
587399
|
4376091
|
1965
|
070
|
-80
|
iRH22-37
|
587458
|
4376955
|
1970
|
180
|
-88
|
iRH22-46
|
587497
|
4376023
|
1966
|
086
|
-85
|
iRH22-47
|
587626
|
4376119
|
1969
|
205
|
-68
|
iRH22-56
|
587200
|
4376238
|
1984
|
120
|
-85
|
iRH22-57
|
587197
|
4376242
|
1984
|
200
|
-88
|
QAQC Procedures
All samples were submitted to either American Assay Laboratories
(AAL) or ALS Minerals (ALS) both of Sparks, NV, which are ISO 9001 and 17025
certified and accredited laboratories, independent of the Company.
Samples submitted through AAL and ALS are run through standard prep
methods and analyzed using FA-Pb30-ICP (Au; 30g fire assay; AAL)
and Au-AA23 (Au; 30g fire assay; ALS) and ME-ICP41 (35 element
suite; 0.5g Aqua Regia/ICP-AES; ALS). AAL and ALS also undertake
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, 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 to complement existing gold production from the Ruby Hill
open pit.
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. 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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