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i-80 Gold Reports High-Grade Drill Results from the FAD Deposit at Ruby Hill

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i-80 Gold Reports High-Grade Drill Results from the FAD Deposit at Ruby Hill

 

 

 

 

 

9.0 g/t Au, 92.4 g/t Ag, 12.2 % Zn & 1.0 % Pb over 14.6 m


3.9 g/t Au, 185.6 g/t Ag, 11.1 % Zn, & 3.6% Pb over 25.4 m

 

i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) is pleased to announce high-grade results from the 2023 drill program completed at the FAD deposit situated on the Company’s 100%-owned Ruby Hill Property located in Eureka County, Nevada.

 

FAD is one of several polymetallic deposits drilled at Ruby Hill in 2023 for the completion of initial resource estimates for the FAD, Blackjack and Hilltop deposits. The Ruby Hill Property represents the core land package within the Eureka District of Nevada, one of the world’s premier re-emerging Carbonate Replacement Deposit (CRD) districts. FAD is a high-grade polymetallic deposit and is expected to add to the Company’s already impressive resource base. New results have intersected multiple stacked zones of mineralization in the southeast portion of the deposit.

 

Highlight drill results from 2023 drilling at FAD:

 

PC23-12 – infill hole in the east FAD lobe 50 m northwest of PC23-28 (5 zones)

  • 4.4 g/t Au, 91.3 g/t Ag, 8.4% Zn & 0.3% Pb over 1.6 m
  • 4.9 g/t Au, 50.2 g/t Ag, 9.0% Zn & 0.2% Pb over 4.5 m
  • 6.2 g/t Au, 57.1 g/t Ag, 6.9% Zn & 0.1% Pb over 5.0 m
  • 6.0 g/t Au, 35.5 g/t Ag, 5.8% Zn & 0.2% Pb over 8.5 m
  • 3.1 g/t Au, 48.8 g/t Ag, 2.1% Zn & 1.3% Pb over 3.8 m

 

PC23-22 – infill hole drilled on the western margin of the west FAD lobe (3 zones)

  • 5.7 g/t Au, 159.4 g/t Ag, 15.0% Zn & 2.8% Pb over 5.4 m
  • 13.7 g/t Au, 430.0 g/t Ag, 15.9% Zn & 7.7% Pb over 2.5 m
  • 9.0 g/t Au, 92.4 g/t Ag, 12.2% Zn & 1.0% Pb over 14.6 m

 

PC23-26 – step-out hole 50 m north of PC23-12 on the east FAD lobe (3 zones)

  • 15.6 g/t Au, 847.0 g/t Ag, 15.1% Zn & 0.4% Pb over 3.4 m
  • 8.3 g/t Au, 187.9 g/t Ag, 6.2% Zn & 0.4% Pb over 1.7 m
  • 0.9 g/t Au, 25.2 g/t Ag, 8.3% Zn % 0.2% Pb over 1.7 m

 

PC23-28 – final hole and furthest hole drilled to the east in the east FAD lobe (6 zones)

  • 1.9 g/t Au, 109.7 g/t Ag, 8.9% Zn & 0.2% Pb over 3.2 m
  • 33.4 g/t Au, 87.7 g/t Ag, 7.1% Zn & 0.2% Pb over 2.1 m
  • 7.6 g/t Au, 42.2 g/t Ag, & 6.3% Zn over 6.0 m
  • 11.4 g/t Au, 65.8 g/t Ag, 0.6% Zn, & 0.2% Pb over 2.0 m
  • 4.3 g/t Au, 41.3 g/t Ag, 12.0 % Zn & 0.2% Pb over 3.5 m
  • 3.9 g/t Au, 185.6 g/t Ag, 11.1% Zn & 3.6% Pb over 25.4 m including 4.1 g/t Au, 350.1 g/t Ag, 13.8% Zn & 7.3% Pb over 11.0 m

 

The Eureka District has a long and successful history of mining, extending over a period of one hundred sixty years (1864-Present) including some of the world’s highest-grade CRD mines. From 1866 until 1967 the Ruby Hill district produced an estimated 2 Mt of ore containing approximately 1.65 Moz Au, 39 Moz Ag, and 625M lbs of lead. It is estimated 80% to 90% of this production came from the original Ruby Hill Mine, located 500 metres southwest of the FAD depositi.

 

The FAD deposit Is located in the hanging-wall of the Ruby Hill fault and is comprised of dominantly sulfide, polymetallic mineralization (see Figure 2). Drilling completed in 2022 and 2023 has successfully intersected multiple horizons of mineralization that remain open for expansion. Results compliment previously released holes drilled by Paycore that include:

  • 7.8 g/t Au, 155.5 g/t Ag, 22.0% Zn & 1.5% Pb over 12.5 m (PC22-07)
  • 7.1 g/t Au, 376.3 g/t Ag, 6.3% Zn & 10.3% Pb over 14.8 m (PC22-08A)
  • 8.0 g/t Au, 79.1 g/t Ag, 10.2% Zn & 1.0% Pb over 27.4 m (PC22-10)

 

In addition to the deeper sulfide mineralization at FAD, drilling tested proximal to the historic Ruby Hill Mine. These holes intersected low-grade oxide mineralization suggesting the potential to delineate near-surface mineralization proximal to historic workings that may be amenable to open pit mining.

 

“The drill program at FAD compliments successful programs on the Blackjack and Hilltop deposits and our expanded focus on exploring for polymetallic mineralization in the Eureka District to better assess the economic opportunity.”, stated Tyler Hill, Chief Geologist of i-80 Gold. “FAD is unusual in comparison to global CRD deposits given its elevated gold grades.”

 

The FAD deposit is located within the “Hilltop Corridor” approximately 2 km south of the Hilltop discovery made by i-80 in mid-2022. Multiple drill rigs were active in 2023, aggressively defining and expanding mineralization at Hilltop, now having identified a series of high-grade CRD zones located on the south side of the Archimedes pit (see Figure 1). Previously released results from drilling at Upper Hilltop include 515.3 g/t Ag, 28.9 % Pb, 10.5 % Zn & 0.9 g/t Au over 28.3 m in hole iRH22-43, 1.9 g/t Au, 631.3 g/t Ag, 7.4 % Zn & 33.0 % Pb over 18.3 m in hole iRH22-53, 14.7 g/t Au, 253.3 g/t Ag, 0.4% Zn & 8.7% Pb over 7.5 m in hole iRH23-52 and 0.6 g/t Au, 332.9 g/t Ag, 8.8% Zn & 18.8% Pb over 32.0 m in hole iRH23-54. Recent results from drilling in the East Hilltop Zone include 1.5 g/t Au, 274.6 g/t Ag, 4.7% Zn & 4.3% Pb over 13.2 m in hole iRH23-48, and 9.5% Zn, 0.3% Cu & 12.6 g/t Ag over 114.3 m including 17.7% Zn, 0.4% Cu & 10.2 g/t Ag over 36.6 m in iRH23-50.

 

The Hilltop Corridor is a 2 km long (see Figure 1), alluvial covered, trend immediately south of the Archimedes pit believed to be host to multiple feeder fault structures that is largely untested by previous drilling owing to the alluvial cover. The Hilltop discoveries were made in the second half of 2022 exploration campaign while testing one of several generative exploration targets identified proximal to the Blackjack (skarn) deposit, with mineralization defined along the Hilltop fault structure over a strike length of approximately 750 metres. At the end of the 2023 drill program, one hole was drilled to test for the possible extension of skarn mineralization proximal to the contact of the Graveyard Flats intrusive. This hole, iRH23‑­­55, intersected a broad zone of skarn mineralization with 4 higher-grade intercepts, including an interval of 1181.0 g/t Ag, 19.5% Zn, 10.2% Pb & 1.2% Cu over 1.5 m.

 

Drilling was also completed in the Blackjack deposit in 2023, yielding numerous significant results, successfully delineating and expanding high-grade mineralization. i-80 drilling started at hole PC23-22.

 

Table 1 – Highlight New Assay Results from FAD

 

Drillhole ID Zone Type From (m) To (m) Length (m) Au (g/t) Ag (g/t) Pb (%) Zn (%)
PC23-12 FAD Core 654.6 656.2 1.6 4.4 91.3 0.3 8.4
and FAD Core 659.1 663.6 4.5 4.9 60.2 0.2 9.3
And FAD Core 676.4 681.3 5.0 6.2 57.1 0.1 6.9
and FAD Core 701.5 710.0 8.5 6.0 35.5 0.2 5.8
and FAD Core 719.5 723.3 3.8 3.1 48.8 1.3 2.1
PC23-13 FAD Core 937.9 944.0 6.2 2.3 20.3 2.6
PC23-14 FAD Core 747.8 749.7 1.8 4.1 33.3 0.2 1.5
PC23-15 Ruby Hill (oxide) RC 67.1 77.7 10.7 1.2 115.6 0.6 7.9
PC23-16 Ruby Hill (oxide) RC 96.0 121.9 25.9 0.4 7.5 0.3 0.2
PC23-17 Ruby Hill (oxide) RC NSI
PC23-18 FAD Core Abandoned at 478 m due to ground conditions
PC23-19 FAD Core 785.3 786.2 0.9 0.4 89.0 2.1 4.8
and FAD Core 788.5 789.7 1.2 1.7 49.0 0.8 4.9
PC23-20 FAD Core 706.2 709.3 3.0 2.4 110.0 1.2 12.0
PC23-21 Near surface exploration NSI
PC23-22 FAD Core 687.0 692.4 5.4 5.7 159.4 2.8 15.0
and FAD Core 705.5 708.1 2.5 13.7 430.0 7.7 15.9
and FAD Core 732.0 746.7 14.6 9.0 92.4 1.0 12.2
PC23-23 FAD RC RC pre-collar abandoned at 213 m due to ground conditions
PC23-24 FAD Core 738.2 739.1 0.9 10.0 151.0 0.9 13.1
and FAD Core 763.2 765.4 2.3 6.4 17.5 0.1 0.9
iRH23-25 FAD Core 667.0 667.9 0.9 3.5 52.0 0.2 10.8
and FAD Core 715.4 716.3 0.9 3.6 584.0 16.4 2.3
PC23-26 FAD Core 642.5 645.9 3.4 15.6 847.0 0.5 15.1
and FAD Core 673.4 675.1 1.7 8.3 187.9 0.4 6.2
and FAD Core 698.4 700.1 1.7 0.9 25.2 0.2 8.3
PC23-27 FAD Core 647.1 648.6 1.5 2.5 378.1 1.7 23.5
PC23-28 FAD Core 597.0 600.2 3.2 1.9 109.7 0.2 8.9
and FAD Core 616.6 618.7 2.1 33.4 87.7 0.2 7.1
and FAD Core 644.3 650.4 6.0 7.6 42.2 6.3
and FAD Core 656.2 658.2 2.0 11.4 65.8 0.2 0.6
and FAD Core 667.4 670.9 3.5 4.3 41.3 0.2 12.0
and FAD Core 693.0 718.4 25.4 3.9 185.6 3.6 11.1
including FAD Core 707.4 718.4 11.0 4.1 350.1 7.3 13.8

 

True widths estimated 80-95%

 

UTM Drillhole ID East m North m Elevation m Azimuth Dip
NAD83 Zone 11 PC23-12 588154 4375786 2087 217 -80
PC23-13 587344 4373145 2084 233 -79
PC23-14 587305 4373534 2105 180 -89
PC23-15 587203 4373305 2153 226 -50
PC23-16 587118 4372636 2153 230 -72
PC23-17 587120 4372637 2121 226 -48
PC23-18 587109 4372944 2087 193 -82
PC23-19 587336 4373145 2098 286 -85
PC23-20 587217 4373165 2117 311 -90
PC23-21 587102 4373119 2153 190 -68
PC23-22 587119 4372635 2107 254 -79
PC23-23 587028 4373239 2098 131 -85
PC23-24 587215 4373161 2088 206 -89
PC23-25 587279 4373230 2105 149 -84
PC23-26 587166 4373094 2087 266 -85
PC23-27 587339 4373147 2098 305 -88
PC23-28 587213 4373163 2087 220 -86

 

 

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

 

QAQC Procedures

 

All samples were submitted to American Assay Laboratories (AAL) of Sparks, NV, which is an ISO 9001 and 17025 certified and accredited laboratory, independent of the Company. Samples submitted through AAL and are run through standard prep methods and analyzed using FA-PB30-ICP (Au; 30g fire assay) and IO‑4AB32 (35 element suite; 0.5g 4-acid ICP-OES+MS). AAL 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 (gold and polymetallic), 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.

 


Figure 1 – i-80 Ruby Hill Property Geology (CNW Group/i-80 Gold Corp)

 

 

 


Figure 2 – FAD Deposit Plan (CNW Group/i-80 Gold Corp)

 

 

Posted January 25, 2024

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