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i-80 Gold Expands High-Grade Gold Mineralization at Ruby Hill

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i-80 Gold Expands High-Grade Gold Mineralization at Ruby Hill

 

 

 

 

 

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

 

i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) is pleased to announce continued positive results from its ongoing drill program at the Company’s 100%-owned Ruby Hill 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 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.

 

 


Figure 1 – Ruby Hill Surface Plan (CNW Group/i-80 Gold Corp)

 

 

 


Figure 2 – Section – Ruby Deeps Zone (CNW Group/i-80 Gold Corp)

 

Posted November 30, 2022

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