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i-80 Gold Drilling Expands High-Grade Mineralization in the South Pacific Zone at Granite Creek

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i-80 Gold Drilling Expands High-Grade Mineralization in the South Pacific Zone at Granite Creek

 

 

 

 

 

Deepest hole drilled to-date assays 16.4 g/t Au over 15.3 m in hole iGS22-05

 

i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) is pleased to announce results from the first six holes drilled in 2022 to test the high-grade South Pacific Zone at the Company’s Granite Creek Property located in Humboldt County, Nevada.

 

The South Pacific Zone is a new zone of high-grade gold mineralization located immediately north of the underground mine workings at Granite Creek. Assay results from the first six holes drilled in 2022 to delineate and expand mineralization in the SPZ continue to demonstrate significant expansion potential. Hole iGS22-05 is the deepest hole drilled to test this horizon, intersecting an impressive 16.4 g/t gold over 15.3 metres approximately 110 m down-dip of previous drilling and 50 m below iGS22-04. The SPZ remains wide open for expansion along strike and at depth (see Figures 1 & 2).

 

Highlight results from 2022 drilling in the South Pacific Zone (and adjacent horizons):

  • 11.2 g/t Au over 9.0 m (0.33 oz/ton Au over 29.5 feet) in hole iGS22-02
  • 11.2 g/t Au over 7.3 m (0.33 oz/ton Au over 24.0 feet) in hole iGS22-04
  • 16.4 g/t Au over 15.3 m (0.48 oz/ton Au over 50.1 feet) in hole iGS22-05
  • 11.2 g/t Au over 4.6 m (0.33 oz/ton Au over 15.0 feet) and 10.7 g/t Au over 4.6 m (0.31 oz/ton Au over 15.0 feet) in hole iGS22-06

 

The SPZ is the priority target of the ongoing surface drill program at Granite Creek and will be included in a resource update following the 2022 program. Holes iGS22-01 and 03 were drilled to better define the upper limits of the SPZ and returned modest results, as was anticipated based on historic drilling. Holes iGS22-04, 05, and 06 were step-out holes at depth while hole iGS22-02 is a step-out along strike to the north. Continued step-out drilling to expand mineralization both along strike and at depth will continue throughout 2022. Table 1 provides a complete summary of results from initial 2022 drilling in the SPZ.

 

“Drilling continues to expand high-grade mineralization in the South Pacific Zone that remains wide open for expansion both along strike and at depth,” stated Tyler Hill, Senior Geologist of i-80. “Broad intercepts at depth demonstrate the significant upside opportunity and drilling in 2022 will continue to step-out along strike to the north towards the property recently acquired from Nevada Gold Mines. We are also extending the decline in order to accelerate the development of underground workings towards the SPZ.”

 

High-grade mineralization at Granite Creek occurs in a near-identical geological setting as that at the multi‑million-ounce Turquoise Ridge Mine located immediately to the north (see Figure 3); proximal to a major regional fault (the Getchell or Range Front fault) on the eastern edge of the large Osgood Mountains intrusive complex. The Granite Creek deposit remains open at depth and along strike from the existing underground workings.

 

Table 1 – Summary of New Assay Results from 2022 Surface Drilling in SPZ

 

2022 Drill Results from Granite Creek, estimated true widths 60-90%
Drillhole ID Type From (m) To (m) Length (m) Au (g/t)
iGS22-01 Core 329.2 334.1 4.9 3.5
And Core 360.4 362.1 1.7 5.2
And Core 369.7 372.6 2.9 5.6
And Core 399.3 406.9 7.6 2.4
iGS22-02 Core 437.7 446.7 9.0 11.2
iGS22-03 Core 335.9 340.8 4.9 1.6
And Core 354.8 357.2 2.4 2.5
iGS22-04 Core 426.2 442.6 16.3 7.7
Including Core 435.3 442.6 7.3 11.2
iGS22-05 Core 515.7 531.0 15.3 16.4
iGS22-06 Core 416.4 419.4 3.0 5.9
And Core 438.9 442.0 3.0 7.9
And Core 464.8 469.4 4.6 11.2
And Core 475.5 480.1 4.6 10.7
Table 1a – Collar Coordinates
UTM Drillhole ID East m North m Elevation m Azimuth Dip
NAD83 Zone 11 iGS22-01 478579 4554418 1549 290 -57
iGS22-02 478581 4554415 1548 306 -68
iGS22-03 478566 4554418 1552 296 -61
iGS22-04 478582 4554234 1466 322 -56
iGS22-05 478615 4554109 1466 331 -47
iGS22-06 478553 4554156 1472 316 -51

 

The Granite Creek Property is strategically located proximal to Nevada Gold Mines’ Turquoise Ridge and Twin Creeks mines at the north end of the Battle Mountain-Eureka Trend, at its intersection with the Getchell gold belt in Nevada.

 

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 analyzed using Au-AA23 (Au; 30g fire assay) and ME-ICP41 (35 element suite; 0.5g Aqua Regia/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

 

Tim George, PE, Mine Operations Manager, reviewed the technical and scientific information contained in this press release and is a Qualified Person within the meaning of NI 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.

 

 


May 24, 2022 Figure 1 – Long Section View (CNW Group/i-80 Gold Corp)

 


May 24, 2022 Figure 2 – Oblique Surface Plan View (CNW Group/i-80 Gold Corp)

 


May 24, 2022 Figure 3 – Property Location Map (CNW Group/i-80 Gold Corp)

 

Posted May 24, 2022

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