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i-80 Gold Announces High-Grade Results from Underground Drilling at Cove

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i-80 Gold Announces High-Grade Results from Underground Drilling at Cove

 

 

 

 

 

Initial Results from the Helen Zone Include 25.4 g/t Au over 20.1 m, 28.0 g/t Au over 10.4 m and 21.0 g/t Au over 10.8 m

 

i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) is pleased to announce positive results from ongoing underground drilling at the Company’s 100%-owned McCoy-Cove Property located in Lander County, Nevada. The new results are from definition drilling in the CSD/Gap Zone and initial drilling in the Helen Zone that continue to confirm continuity of high-grade mineralization in both horizons.

 

Drilling is now underway to define the Helen Zone, confirming high-grade mineralization over appreciable widths with intercepts up to 25.4 g/t Au over 20.1 metres. The initial holes are designed to define the western-most extremity of the deposit prior to proceeding east into the heart of the deposit (see Figures 2 & 3). Initial results have been extremely positive, similar to what was encountered in the initial drilling of the Gap Zone, where previously released results include intercepts of up to 7.0 g/t Au over 119.6 m in hole iRH23-14 that included four higher-grade zones of gold mineralization of up to 10.6 g/t Au over 38.3 m. This release also includes results from drilling in the northwest extremity of the CSD/Gap Zone. A complete summary of new results is provided in Table 1.

 

Highlight new results from 2023 drilling program at Cove include:

 

CSD/Gap Zone

  • iCHU23-19: 15.7 g/t Au & 16.8 g/t Ag over 4.5 m
  • iCHU23-20: 7.6 g/t Au & 2.0 g/t Ag over 12.2 m
  • iCHU23-22: 21.8 g/t Au & 4.8 g/t Ag over 10.3 m

 

Helen Zone

  • iCHU23-23: 28.0 g/t Au & 5.1 g/t Ag over 10.4 m

                    And 21.0 g/t Au & 7.4 g/t Ag over 10.8 m

  • iCHU23-24: 18.0 g/t Au & 9.4 g/t Ag over 4.6 m
  • iCHU23-25: 11.1 g/t Au & 14.4 g/t Ag over 3.7 m

                    And 7.8 g/t Au & 3.7 g/t Ag over 6.7 m

                    And 15.4 g/t Au & 3.3 g/t Ag over 1.6 m

  • iCHU23-26: 8.4 g/t Au & 2.7 g/t Ag over 9.1 m
  • iCHU23-28: 25.4 g/t Au & 5.1 g/t Ag over 20.1 m

                    And 8.8 g/t Au & 2.4 g/t Ag over 8.5 m

 

“Results continue to confirm that the Cove deposit is one of North America’s highest-grade gold deposits.”, stated Ewan Downie, CEO of i-80 Gold. “These results, when combined with previously released results, highlight Cove as a Tier 1 Nevada deposit. Mineralization remains open for expansion and significant exploration targets exist on the large land package.”

 

To date, 40 holes have been completed (28 with results released) out of approximately 120 holes planned that will comprise more than 40,000 metres on approximate 30 metre centers in advance of an updated resource estimate and economic study. This program is focused on the CSD Gap and Helen Zone portions of the deposit while mineralization below the pit in the Cove South Deep and 2201 deposits is not being drilled as part of this program (Figures 2 & 3).

 

Table 1 – Highlight New Assay Results from Cove Underground Drilling

 

New 2023 results from McCoy-Cove, estimated true thickness 80-95%
Drillhole ID Zone Type From (m) To (m) Length (m) Au (g/t) Ag (g/t)
iCHU23-19 CSD Gap Core 255.5 260.0 4.5 15.7 16.8
iCHU23-20 CSD Gap Core 262.7 274.9 12.2 7.6 2.0
iCHU23-21 CSD Gap Core 342.0 350.4 8.4 5.7 3.7
and CSD Gap Core 354.5 357.5 3.0 10.8 62.9
iCHU23-22 CSD Gap Core 257.2 260.0 2.8 10.4 6.4
and CSD Gap Core 269.0 271.1 2.1 13.5 3.2
and CSD Gap Core 316.2 326.4 10.3 21.8 4.8
iCHU23-23 Helen Core 256.6 267.0 10.4 28.0 5.1
and Helen Core 291.7 302.5 10.8 21.0 7.4
iCHU23-24 Helen Core 247.9 249.4 1.5 19.0 5.7
and Helen Core 278.7 283.3 4.6 18.0 9.4
iCHU23-25 Helen Core 133.1 136.8 3.7 11.1 14.4
and Helen Core 218.2 224.9 6.7 7.8 3.7
and Helen Core 252.1 253.7 1.6 15.4 3.3
iCHU23-26 Helen Core 257.0 266.2 9.1 8.4 2.7
iCHU23-27 Helen Core 117.4 120.7 3.3 7.5 2.9
and Helen Core 136.9 144.4 7.5 5.9 4.8
and Helen Core 264.0 270.1 6.1 6.7 1.6
iCHU23-28 Helen Core 247.9 254.1 9.9 6.2 1.9
and Helen Core 266.0 274.5 8.5 8.8 2.4
and Helen Core 306.5 326.7 20.1 25.4 5.1
UTM Drillhole ID East m North m Elevation m Azimuth Dip
NAD83 Zone 11 iCHU23-19 482177 4465776 1417 001 -86
iCHU23-20 482127 4465702 1414 103 -81
iCHU23-21 482127 4465703 1414 083 -87
iCHU23-22 482127 4465704 1414 048 -83
iCHU23-23 481770 4466009 1428 258 -82
iCHU23-24 481770 4466010 1428 261 -72
iCHU23-25 481770 4466010 1428 278 -72
iCHU23-26 481770 4466011 1428 288 -73
iCHU23-27 481771 4466011 1428 302 -79
iCHU23-28 481771 4466011 1428 306 -86

 

Cove is one of three projects currently being advanced to realize the Company’s goal of becoming one of the largest producers in Nevada. In addition to the underground drill program at Cove, the Company is completing a 40-day pump test for the completion of a final hydrological model for the Property and final mine permitting.

 

Please click here for further information on abbreviations and conversions referenced in this press release.

 

QAQC Procedures

 

All samples were submitted to ALS Minerals 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 (ALS) (Au; 30g fire assay) and ME-MS61 (35 element suite; 0.4g 4 acid/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

 

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

 

 


Figure 1 – Portal and Decline at Cove (CNW Group/i-80 Gold Corp)

 

 

 


Figure 2 – 3D View of the Cove Deposit and Drill Program (CNW Group/i-80 Gold Corp)

 

 

 


Figure 3 – Surface Plan View of the Cove-Helen Deposit (CNW Group/i-80 Gold Corp)

 

Posted November 20, 2023

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