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i-80 Gold Releases High-Grade Results from Underground Drilling at Granite Creek

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i-80 Gold Releases High-Grade Results from Underground Drilling at Granite Creek

 

 

 

 

 

Including 22.0 g/t Au over 29.0 m, 18.4 g/t Au over 14.4 m & 60.5 g/t Au over 4.1 m

 

i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) is pleased to announce additional high-grade results from the ongoing drill program to define mineralization in the upper part of the South Pacific Zone at the Company’s Granite Creek Property located in Humboldt County, Nevada.

 

The new results are from seven new holes drilled in the underground campaign focused on the delineation of mineralization within the South Pacific Zone. The SPZ is located immediately north of the current mine workings and is expected to become the primary zone for mining (see Figure 1).  Initial stopes in the SPZ are being planned for H1-2024 once mine workings are extended to provide access.

 

The underground drill program is focused on the southern and upper part of the deposit, where initial mining is planned.  Results from the underground program continue to demonstrate continuity of high-grade mineralization with some of the best results received to-date in the South Pacific Zone.

 

Highlight results from the most recent seven new underground drill holes testing the South Pacific Zone at Granite Creek include:

  • GCPU23-33: 17.7 g/t Au over 7.0 m
  • GCPU23-45A: 27.2 g/t Au over 4.0 m
  • GCPU24-01: 18.1 g/t Au over 14.4 m
  • GCPU24-02: 22.0 g/t Au over 29.0 m
  • GCPU24-04: 11.0 g/t Au over 22.4 m
  • GCPU24-04: 60.5 g/t Au over 4.1 m

 

“The ongoing surface and underground drilling program at Granite Creek continues to confirm impressive high-grade gold mineralization, including over substantial widths.”, stated Tyler Hill, Chief Geologist of i‑80.  “Importantly, the South Pacific Zone is expected to become the primarily source of mineralization at Granite Creek and remains open along strike to the north and at depth, providing considerable upside.”

 

Table 1 – Summary Assay Results from South Pacific Zone Underground Drilling

 

Drillhole ID Zone Type From (m) To (m) Length (m) Au (g/t)
GCPU23-33 SPZ Core 75.0 75.7 0.7 37.7
And SPZ Core 158.2 161.2 3.0 8.9
And SPZ Core 194.8 195.7 0.9 37.3
And SPZ Core 206.7 213.7 7.0 17.7
GCPU23-44 SPZ Core 92.2 92.8 0.6 10.5
GCPU23-45A SPZ Core 168.2 172.2 4.0 27.2
GCPU24-01 SPZ Core 34.3 36.0 1.6 14.7
And SPZ Core 153.7 168.0 14.4 18.1
GCPU24-02 SPZ Core 200.9 229.8 29.0 22.0
GCPU24-03 SPZ Core 8.2 9.0 0.8 18.3
GCPU24-04 SPZ Core 181.2 203.6 22.4 11.0
And SPZ Core 208.5 210.0 1.5 14.6
And SPZ Core 214.6 215.8 1.2 23.9
And SPZ Core 219.9 224.0 4.1 60.5
True widths estimated 10-50%

 

Table 1a – Collar Coordinates
UTM Drillhole ID East m North m Elevation m Azimuth Dip
NAD83
Zone
11
GCPU23-33 478223 4554278 1328 046 -40
GCPU23-44 478223 4554278 1328 052 -47
GCPU23-45A 478223 4554277 1328 076 -57
GCPU24-01 478223 4554276 1329 096 -62
GCPU24-02 478223 4554277 1328 057 -77
GCPU24-03 478224 4554277 1328 067 -75
GCPU24-04 478224 4554278 1328 055 -51

 

With its improved financial position, the Company is in the process of ramping up a large-scale surface drill program to complete further definition and expansion drilling of the SPZ in advance of an updated resource estimate and Feasibility Study for the Granite Creek Property. Four (4) drill rigs will be used to complete this program. Additionally, the main decline is being extended to provide access to the SPZ and initial stoping of this new zone is expected mid-year.

 

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.

 

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 analysed using Au-AA23 (ALS) (Au; 30g fire assay). 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, 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 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.

 

 


Figure 1 – Long Section View of the Granite Creek Deposit (CNW Group/i-80 Gold Corp)

 

 

 


Figure 2 – Property Location Map (CNW Group/i-80 Gold Corp)

Posted May 15, 2024

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