RENO,
Nev., June 27, 2023 /PRNewswire/ - i-80 GOLD
CORP. (TSX: IAU) (NYSE: IAUX) ("i-80", or the
"Company") is pleased to announce that it has received
approval from the Bureau of Land Management ("BLM") and
Nevada Bureau of Mining Regulation and Reclamation ("BMRR")
for an additional 24.49 acres of disturbance consisting of up to 70
additional pad locations at its 100% owned, high-grade, Ruby Hill
Property ("Ruby Hill" or "the Property") located in
Eureka County, Nevada. This
approval will allow the Company to begin testing the highly
prospective, approximately 3 km long, mostly unexplored structural
corridor between the Hilltop deposits and the recently acquired
Paycore Minerals ("Paycore") property to the south.
Ruby Hill is one of three core assets being advanced by i-80 and
is host to high-grade Carlin-Type gold deposits and multiple
Carbonate Replacement Deposits (CRD). In mid-2022, i-80 discovered
multiple zones of high-grade CRD and skarn mineralization proximal
to the Hilltop fault at Ruby Hill and earlier in 2023, acquired
Paycore for its exploration potential and its FAD deposit, one of
the highest-grade polymetallic deposits in North America. The consolidation of the
"Hilltop Corridor" provides i-80 with a favourable structural trend
that measures more than 3 km and is host to multiple historic mines
and new gold and polymetallic deposits.
Importantly, this permitting will provide enhanced drill sites
to define and expand mineralization at Upper Hilltop, one of a
series of high-grade CRD zones located on the south side of the
Archimedes pit (see Image 1) where previously released drill
results 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, and
60.2 g/t Au, 908.7 g/t Ag, 1.1 % Zn & 15.7 % Pb over
10.0 m in hole iRH22-55.
Also, high-grade CRD and skarn mineralization has been
discovered under alluvial cover in the East Hilltop area. Owing to
limited drill platforms, this target has been difficult to test but
has returned significant mineralization including 12.3 % Zn over
39.4 m in hole iRH22-61 (East
Hilltop skarn) and 226.1 g/t Ag, 9.7 % Zn and 10.0 % Pb over
8.4 m in hole iRH23-10 (East
Hilltop CRD).
The Hilltop Corridor is a predominately alluvial covered trend
immediately south of the Archimedes pit believed to be host to
multiple feeder fault structures (see Image 1) that is largely
untested by previous drilling due to the alluvial cover and lack of
interest in base metals. 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, confirming the Company's belief that the
Ruby Hill Property could be host to multiple types of
mineralization and several large-scale deposits. Additional
high–grade CRD discoveries have been made in 2023, extending
mineralization along the Hilltop fault over a strike length of
approximately 750 metres. The permitting will allow the Company to
more thoroughly define mineralization along the Hilltop fault but
also test new targets being generated from drilling or geophysical
surveys.
Paycore was a key acquisition for i-80 as it consolidates the
most productive part of the Eureka
District, adding 3,627 acres to the Company's land package. The FAD
deposit is host to a historic non 43-101 compliant resource of
3,540,173 t @ 5.14 g/t Au, 196.46 g/t Ag, 8.0% Zn, 3.8%
Pb1 and where Paycore drilling in 2022 returned numerous
high-grade intercepts including 1.06 g/t Au, 155.5 g/t Ag, 22.0%
Zn & 1.5% Pb over 12.5 m and 2.03
g/t Au, 231.6 g/t Ag, 6.3 % Zn & 3.7 % Pb over 44.8 m (PC22-07), 7.1 g/t Au, 376.3 g/t Ag, 6.3 %
Zn & 10.3% Pb over 14.8 m
(PC22-08) and 8.0 g/t Au, 79.0 g/t Ag, 10.0 % Zn & 1.0%
Pb over 27.4 m and 1.8 g/t Au, 318.0
g/t Ag, 4.6 % Zn & 6.1 % Pb over 7.4
m (PC22-10).
_________________________________
1 The historical estimates contained in this
presentation have not been verified as current mineral resources. A
"qualified person" (as defined in NI 43-101) has not done
sufficient work to classify the historical estimate as current
mineral resources or mineral reserves, and the Company is not
treating the historical estimate as current mineral resources or
mineral reserves.
|
Geophysical surveys completed at Ruby Hill have identified
several highly prospective anomalies that are believed to have the
potential to represent additional massive sulfide targets. Several
of these anomalies will be tested in the 2023 drilling program.
Additional geophysical surveys including high-resolution magnetics
and magnetotellurics are currently being completed to cover the
southern extension of the Hilltop Corridor and the FAD
Property.
The Ruby Hill Property is one of the Company's primary assets
and is host to the core processing infrastructure within the
Eureka District of the Battle
Mountain-Eureka Trend including an idle leach plant and an active
heap leach facility. The Property is host to multiple gold,
gold-silver and polymetallic (base metal) deposits. The Company has
submitted for approval its plan to develop an underground mine at
Ruby Hill with mineralization accessed via a ramp from the
Archimedes open pit. Work is also progressing for the completion of
updated mineral resource estimates (gold and polymetallic zones)
and an initial economic study for the gold zones (only).
Please click here for further information on abbreviations and
conversions referenced in this press release.
QAQC Procedures
All samples were submitted to either American Assay Laboratories
(AAL) or ALS Minerals (ALS) 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 analysed using Au-AA23 (ALS) or FA-PB30-ICP (AAL) (Au;
30g fire assay for both) and ME-ICP61a (35 element suite; 0.4g 4
acid/ICP-AES) for ALS and IO-4AB32 (35 element suite; 0.5g 4-acid
ICP-OES+MS) for AAL. Both 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. Previous assays conducted on Paycore Mineral's samples
were submitted to ALS Minerals (ALS) of Sparks, NV, which is an ISO 9001 and 17025
certified and accredited laboratory, which is independent of the
Company. Samples submitted through ALS were run through standard
prep methods and analysed using Au-AA23 (Au; 30g fire assay) and
ME-MS61 (48 element suite; 0.25g 4-acid/ICP-AES and ICP-MS). ALS
also undertakes their own internal coarse and pulp duplicate
analysis to ensure proper sample preparation and equipment
calibration. Paycore's QA/QC program included regular insertion of
CRM standards, duplicates, and blanks into the sample stream with a
stringent review of all results, and third-party assay checks of
mineralized intercepts.
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.
i-80 Gold's common shares are listed on the TSX and the NYSE
American under the trading symbol IAU:TSX and IAUX:NYSE. Further
information about i-80 Gold's portfolio of assets and long-term
growth strategy is available at www.i80gold.com or by email at
info@i80gold.com.
Certain statements in this release constitute "forward-looking
statements" or "forward-looking information" within the meaning of
applicable securities laws, including but not limited to, the
expansion or mineral resources at Ruby Hill and the potential of
the Ruby Hill project. Such statements and information involve
known and unknown risks, uncertainties and other factors that may
cause the actual results, performance or achievements of the
company, its projects, or industry results, to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements or
information. Such statements can be identified by the use of words
such as "may", "would", "could", "will", "intend", "expect",
"believe", "plan", "anticipate", "estimate", "scheduled",
"forecast", "predict" and other similar terminology, or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. These statements reflect
the Company's current expectations regarding future events,
performance and results and speak only as of the date of this
release.
Forward-looking statements and information involve significant
risks and uncertainties, should not be read as guarantees of future
performance or results and will not necessarily be accurate
indicators of whether or not such results will be achieved. A
number of factors could cause actual results to differ materially
from the results discussed in the forward-looking statements or
information, including, but not limited to: material adverse
changes, unexpected changes in laws, rules or regulations, or their
enforcement by applicable authorities; the failure of parties to
contracts with the company to perform as agreed; social or labour
unrest; changes in commodity prices; and the failure of exploration
programs or studies to deliver anticipated results or results that
would justify and support continued exploration, studies,
development or operations.
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SOURCE i-80 Gold Corp