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i-80 Gold Intersects High-Grade Gold in Drilling of the Ogee Zone at Granite Creek – Provides Initial Results from 2022 Underground Program

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i-80 Gold Intersects High-Grade Gold in Drilling of the Ogee Zone at Granite Creek – Provides Initial Results from 2022 Underground Program

 

 

 

 

 

Including 28.1 g/t Au over 18.7 m, 15.0 g/t Au over 14.6 m, & 33.8 g/t over 4.8m

 

i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) is pleased to announce results from the first sixteen holes drilled in the 2022 underground program at the Granite Creek Property to define mineralization for mining and test for extensions of the Ogee Zone, the primary target of the underground program. The ongoing surface and underground drill program at the Company’s Granite Creek Property located in Humboldt County, Nevada is focused on defining mineralization for inclusion in an updated Feasibility Study expected at the end of the ~30,000 metre drill program.

 

During the fourth quarter of 2021, underground drilling platforms were completed providing access to test the expansion opportunity of the Ogee Zone, expected to provide the bulk of mineralization to be mined in the next twelve months. Initial drilling is primarily focused on defining mineralization immediately below existing mine workings (see Figure 1 and Table 1).  Drilling in 2022 continues to focus on further expansion in the area between the bottom level of the mine workings and the deepest hole drilled by i-80 so far to test the Ogee Zone depth extension (from surface), iGS21-15, that intersected multiple high-grade mineralized horizons including 13.3 g/t Au over 13.1 m, 20.3 g/t Au over 7.5 m and 10.1 g/t Au over 17.5 m. Additional drilling has focused on extensions of the Otto, Adam Peak, and Range Front faults beneath historic workings.

 

Highlight results from 2022 underground drilling at Granite Creek:

  • 1 g/t Au over 18.7 m in hole iGU22-01
  • 0 g/t Au over 14.6 m in hole iGU22-03
  • 8 g/t Au over 4.8 m in hole iGU22-13
  • 5 g/t Au over 3.0 m in hole iGU22-14

 

The Company is in the process of expanding the underground workings such that multiple headings are available for mining. The decline is being driven to depth and initial work is being performed to assess the potential to access the new South Pacific Zone located immediately below and to the north of the mine workings. It is expected that first mineralization from the underground operation will be trucked to Twin Creeks for processing in mid-2022, pursuant to the agreement with Nevada Gold Mines, until such time that the Company’s Lone Tree facility is operational.

 

“These drill results further increase our confidence in the next level to be mined from the Ogee Zone.”, stated Tyler Hill, Senior Geologist of i-80. “We continue to test extensions of the Ogee Zone at depth, which will complement expansion drilling in the new South Pacific Zone.”

 

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 (See Figure 2). High-grade mineralization occurs in a near-identical geological setting as that at the multi-million ounce Turquoise Ridge Mine located immediately to the north; 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 and step-out drilling aimed at expanding resources is currently underway.

 

Table 1 – Summary Assay Results from Initial 2022 Underground Drilling

 

 

New 2022 Drill Results from Granite Creek – Estimated true widths 70-90%
Drillhole ID Zone Type From (m) To (m) Length (m) Au (g/t)
iGU22-01 Ogee Core 151.9 170.6 18.7 28.1
iGU22-02 Otto Core 40.8 41.5 0.6 20.4
And Range Front Core 62.3 63.4 1.1 11.1
iGU22-03 Ogee Core 146.9 161.5 14.6 15.0
And LH Core 209.7 211.9 2.2 9.9
iGU22-04 Otto Core 28.7 30.2 1.5 18.3
iGU22-05 Ogee Core 139.3 140.5 1.2 16.4
iGU22-06 Ogee Core 150.3 153.1 2.8 12.7
iGU22-07 Otto Core 40.5 41.4 0.9 9.5
And Range Front Core 111.6 113.1 1.5 9.7
iGU22-08 Otto Core 53.5 54.6 1.1 6.0
iGU22-09 Otto Core 29.3 30.3 1.1 8.0
And Adam Peak Core 65.8 71.3 5.5 7.0
And Range Front Core 75.9 77.4 1.5 14.5
iGU22-10 No significant intercepts
iGU22-11 Otto Core 46.9 53.5 6.6 6.5
iGU22-12 Ogee Core 199.6 201.2 1.5 12.0
iGU22-13 Ogee Core 165.2 170.0 4.8 33.8
iGU22-14 Otto Core 50.3 53.3 3.0 22.5
iGU22-15 Otto Core 307.8 309.4 1.6 13.2
And Adam Peak Core 314.1 320.1 6.0 9.0
iGU22-16 Otto Core 26.7 27.1 0.5 21.9
And Adam Peak Core 51.4 55.5 4.1 13.4
And Range Front Core 91.0 92.6 1.6 21.0

 

 

 

UTM Drillhole ID East m North m Elevation m Azimuth Dip
NAD83 Zone 11 iGU22-01 478250 4554070 1453 353 -34
iGU22-02 478069 4554190 1388 285 -39
iGU22-03 478250 4554070 1453 359 -35
iGU22-04 478069 4554190 1388 309 -31
iGU22-05 478250 4554070 1453 333 -34
iGU22-06 478250 4554070 1453 334 -36
iGU22-07 478069 4554189 1387 265 -60
iGU22-08 478250 4554070 1453 346 -40
iGU22-09 478071 4554191 1388 342 -48
iGU22-10 478250 4554070 1453 335 -40
iGU22-11 478071 4554192 1388 359 -17
iGU22-12 478250 4554070 1453 348 -45
iGU22-13 478250 4554070 1453 333 -45
iGU22-14 478071 4554191 1387 009 -60
iGU22-15 478250 4554070 1453 346 -48
iGU22-16 478071 4554191 1387 009 -31

 

 

 

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.

 

Posted June 1, 2022

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