New Target Returns 12.3% Zinc over 39.6
meters
RENO,
Nev., Dec. 19, 2022 /PRNewswire/ - i-80
GOLD CORP. (TSX: IAU) (NYSE: IAUX) ("i-80", or the
"Company") is pleased to report the discovery of
high-grade zinc mineralization from the first hole drilled to test
the "Hilltop Corridor" at the Company's 100%-owned Ruby Hill
Property ("Ruby Hill" or "the Property") located in
Eureka County, Nevada.
In addition to work completed on gold targets, including the
Ruby Deeps deposit, the Company is drill testing multiple target
areas for the potential to host polymetallic and base metal
mineralization. This program has yielded substantial success with
three new discoveries having been made in the first dozen holes
drilled. In addition to this new intercept within the Hilltop
Corridor "South Blackjack" target, i-80 has announced the recent
discoveries of high-grade, polymetallic CRD (Carbonate Replacement
Deposit) mineralization in the Upper and Lower Hilltop Zones. The
first hole testing the Hilltop Corridor (iRH22-61) intersected
high-grade mineralization grading 12.3% Zinc over 39.6
metres (See Figure 1 & 2).
This intercept is located approximately 300 metres southeast of
the Upper Hilltop Zone where recent drilling has returned
high-grade mineralization including intercepts of:
Hole
|
Length
|
Ag
|
Pb
|
Zn
|
Au
|
|
(m)
|
(g/t)
|
( %)
|
( %)
|
(g/t)
|
|
|
|
|
|
|
iRH22-43
|
28.3
|
515.3
|
28.9
|
10.5
|
0.9
|
|
|
|
|
|
|
iRH22-53
|
18.3
|
631.3
|
33.0
|
7.4
|
1.9
|
|
|
|
|
|
|
iRH22-55
|
10.0
|
908.7
|
15.7
|
1.1
|
60.2
|
(See press releases dated August
30th, 2022 and November
14th, 2022) The new intercept in the South
Blackjack target is located approximately 450 metres to the south
of the Blackjack deposit in an area where no previous drilling has
been completed (see Figure 1).
Hilltop Corridor
The Hilltop Corridor is an alluvial covered, structural trend,
spanning several kilometres from the Archimedes pit to the nearby
FAD deposit being drilled by Paycore Minerals and is believed to be
host to multiple feeder fault structures (see Figure 1). This
corridor is largely untested by previous drilling owing to the
alluvial cover. Hole iRH22-61 is the first hole drilled to test
this target, successfully intersecting high‑grade zinc
mineralization in the interpreted southern projection of the East
Archimedes fault structure along the Graveyard Flats stock margin
that returned an impressive interval of 12.3 % Zn over
39.6 m.
This discovery is located approximately 450 metres south of
known mineralization in the Blackjack (skarn) deposit that is
currently being drilled by i-80 and located immediately below the
Archimedes pit. This new mineralized intercept is believed to
represent either the southern strike extension of the Blackjack
deposit or a new zone of skarn mineralization proximal to the
Graveyard Flats intrusive complex. If it is the strike extension of
the Blackjack deposit, it would increase the strike length of known
mineralization from approximated 150 metres to a minimum of 600
metres. Drilling is currently underway at Blackjack and additional
drilling will be completed in the vicinity of iRH22-61. This target
area remains open in all directions.
"Our ongoing drill program continues to confirm the substantial
upside potential of the Ruby Hill Property with our new discoveries
ranking amongst the highest-grade new discoveries being made
anywhere in the world", stated Ewan
Downie, CEO of i-80. "This property provides i-80 with
significant optionality as it is host to oxide gold, sulphide gold,
poly-metallic CRD and skarn base metal mineralization. All deposits
are located in close proximity to the underground infrastructure
being planned in 2023."
The Company is planning to add an additional core rig to
accelerate the advancement of the multiple mineralized zones within
the Hilltop Corridor and also to further test a new gold target
recently identified by company geologists.
"We have realized unparalleled success in 2022 exploration
campaign at Ruby Hill", stated Tyler
Hill, Senior Geologist of i-80. "Significant expansion at
Ruby Deeps, new discoveries at Hilltop and now high-grade
mineralization in the eastern portion of the Hilltop Corridor have
made for an exciting year. All deposits at Ruby Hill remain open
for expansion."
Upper and Lower Hilltop
Zones
Ongoing drilling is being completed to expand polymetallic CRD
mineralization recently discovered at the Hilltop target on the
south side of the Archimedes pit (see Figure 1 & 2).
Additional results from Hilltop are expected to be released in the
near future.
Results released to-date from drilling in the Upper Hilltop Zone
discovery confirm a relatively flat-lying zone of CRD
mineralization with multiple high-grade intercepts including
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. Multiple
follow-up holes have been completed at Upper Hilltop and RC and
core drilling is ongoing.
The initial hole drilled to test the Lower Hilltop target
(iRH22-25) intersected multiple zones of mineralization including
0.1 g/t Au, 238.8 g/t Ag, 11.0 % Zn & 9.0 % Pb over
9.4 m and 0.2 g/t Au, 469.5 g/t Ag,
11.8 % Zn & 18.2 % Pb over 2.1
m. Lower Hilltop mineralization is closely associated
with "Bullwhacker sill" below the Archimedes pit and several
follow-up holes have been drilled to test this target area with
results pending.
The Upper and Lower Hilltop Zones are located approximately 400
metres to the southwest of the Blackjack Zone (see Figure 1),
immediately south of the Archimedes pit and proximal to the planned
portal that the Company is advancing for construction. All zones
remain open for expansion. Mineralization consists of polymetallic
carbonate replacement (CRD) in the form of massive and semi-massive
sulphide and oxide mineralization containing high-grade precious
metals and base metals.
The Eureka (Ruby Hill) Mining
District has a prolific history of high-grade polymetallic CRD
production that began in the 1860's and spanned a period of more
than one hundred years. Historic mined grades rank amongst the
highest for any CRD district in the world. Since the 1960's, the
CRD potential of the Eureka
District has been largely overlooked in favour of exploration for
Carlin-type gold deposits and the
Company considers the opportunity to be substantial.
In addition to drilling, geophysical surveys have been completed
over the discovery area, including downhole electromagnetic (EM)
and surface and induced polarization (IP) surveys, in an effort to
identify additional massive sulfide targets. Early interpretation
of the IP survey and the results from an earlier completed Titan MT
survey have identified several untested, large-scale, anomalies
within the Hilltop Corridor that will be the targets of future
drilling at Ruby Hill.
Table 1 – Highlight New Assay Results from Ruby Hill
Drillhole ID
|
Zone
|
Type
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
iRH22-61
|
Hilltop
Corridor
|
RC
|
399.3
|
438.9
|
39.6
|
-
|
-
|
-
|
12.3
|
including
|
Hilltop
Upper
|
RC
|
405.4
|
432.8
|
27.4
|
-
|
-
|
-
|
14.5
|
True widths are
estimated at 80-95% for the Lower Hilltop zone. True width for the
Hilltop Corridor is currently unknown.
|
UTM
|
Drillhole ID
|
East m
|
North m
|
Elevation m
|
Azimuth
|
Dip
|
UTM NAD83
Zone 11
|
iRH22-61
|
587520
|
4375179
|
1994
|
105
|
-55
|
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, an active heap
leach facility, and is host to multiple gold, gold-silver and
polymetallic (base metal) deposits.
Cretaceous age mineralization in the Eureka district is comprised of skarn
(Blackjack), CRD (Hilltop/historic mines), and distal disseminated
Au-Ag mineralization (Mineral Point). However, the magmatic source
of the mineralizing fluids remains elusive. Recent analysis of
geophysical surveys has delineated a large-scale, deep-seated,
magnetic anomaly and associated magnetotelluric conductor below the
western portion of the Archimedes pit on the Ruby Hill Property
that is also associated with a large metamorphic halo distinct from
that at the Blackjack skarn. This geophysical anomaly has never
been tested with drilling and will become a primary target for the
company in 2023.
Infill and step-out drilling was also completed in 2022 in the
Ruby Deeps (Carlin-type) gold
deposit to aide in the advancement of the Company's plan to develop
an underground mine at Ruby Hill with mineralization accessed via a
ramp from the Archimedes open pit. Work is now progressing for the
completion of updated mineral resource estimates (gold and
polymetallic zones) and an initial economic study for the gold
zones (only). The current program at Ruby Hill is one of several
drill programs on i-80 projects in 2022 that are collectively
expected to comprise more than 70,000 metres.
Please click here for further information on abbreviations and
conversions referenced in this press release.
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 (Au; 30g fire assay; ALS) and ME-ICP61a
(33 element suite; 0.4g Four Acid/ICP-AES; ALS). Overlimit samples
of Ag, Pb, and Zn are analyzed by ore-grade methods comprising
HF-HNO3-HClO4 Digest, HCl leach and ICP-AES. Additional samples
overlimit ore-grade methods are analyzed by acid dissolution and
titration. 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 (gold and polymetallic),
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 with processing at i-80's centralized milling facility
that includes an autoclave.
www.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