i-80 Gold Continues to Expand "South Pacific Zone" at Granite Creek

i-80 Gold Continues to Expand "South Pacific Zone" at Granite Creek

 
 

  New Results Include 25.5 g/t Au over 5.5 m , 11.0 g/t Au over 9.1 m & 17.2 g/t Au over 4.2 m   

 

i-80 Gold Corp. (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") is pleased to announce that continued drilling was successful in further delineating a new high-grade horizon, the South Pacific Zone ("SPZ"), at the Company's Granite Creek Property ("Granite Creek" or "the Property") located in Humboldt County, Nevada .

 

Surface drilling is targeting the expansion of mineralization at depth below, and to the north of, the mine workings at Granite Creek. The high-grade results received to-date from SPZ have exceeded expectations and suggests potential to substantively expand mineral resources on the Property. To-date, results have been received for the first of eleven (11) holes of sixteen (16) drill holes now completed to test the SPZ target with all drill holes that have reached the target returning impressive gold grades and widths of mineralization. Owing to the early success of the expansion drilling, the 2022 program has been expanded to ~30,000m of drilling and additional drill rigs have been added both on surface and underground.

 

Highlight results from SPZ drilling:

 
  •   17.2 g/t Au over 3.8 m and 22.0 g/t Au over 3.4 m in hole iGS21-07  
  •  
  •   10.5 g/t Au over 3.8 and 8.0 g/t Au over 4.8 m in hole iGS21-08  
  •  
  •   17.2 g/t Au over 4.2 m    in hole iGS21-10  
  •  
  •   25.5 g/t Au over 5.5 m    in hole iGS21-11  
  •  
  •   11.0 g/t over 9.1 m including 15.5 g/t over 5.5 m in hole iGS21-12  
  •  

Drilling of the SPZ has been elevated to the primary exploration target on the Property with multiple drill rigs completing delineation drilling as well as step-out drilling designed to continue to expand mineralization along strike and at depth where the deposit remains open. It is anticipated that SPZ will be included in a resource update following the 2022 drill campaign. High-grade mineralization occurs at the contact of the Upper and Lower Comus Formation rock units, and also associated with interpreted north to northeast striking splay faults resulting in multiple intercepts in some holes and remains wide open at depth and along strike to the north (see Figures 1 and 2).

 

"The consistency of high-grade gold mineralization in the South Pacific Zone is truly impressive as the ongoing drill program continues to demonstrate the significant upside opportunity at Granite Creek," stated Ewan Downie , Chief Executive Officer of i-80. "Including programs at Ruby Hill and McCoy-Cove in 2022, we expect to drill in excess of 50,000 metres in 2022 with a goal of expanding our already enviable resource base."

 

High-grade mineralization at Granite Creek occurs in a near-identical geological setting as that at Nevada Gold Mines' ("NGM"), multi-million-ounce Turquoise Ridge Mine that is located immediately to the north (see Figure 3); 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.

 

It is expected that refractory mineralization mined from the underground operation at Granite Creek will initially be trucked to Twin Creeks for processing, pursuant to the agreement with NGM, until such time that the Company's Lone Tree facility is operational.

 

  Table 1 – Summary Assay Results from SPZ Drilling  

 
 
                                                                                                 
 

    New 2021 Drill Results from SPZ at Granite Creek, estimated true widths 70-80%    

 
 

    Drillhole ID    

 
 

    Type    

 
 

    From    

 

    (m)    

 
 

    To    

 

    (m)    

 
 

    Length    

 

    (m)    

 
 

    Au    

 

    (g/t)    

 
 

    iGS21-07    

 
 

  Core  

 
 

  352.0  

 
 

  355.9  

 
 

  3.8  

 
 

   17.2   

 
 

    iGS21-07    

 
 

  Core  

 
 

  368.1  

 
 

  371.6  

 
 

  3.4  

 
 

   22.0   

 
 

    iGS21-08    

 
 

  Core  

 
 

  356.2  

 
 

  360.9  

 
 

  4.8  

 
 

   8.0   

 
 

    iGS21-08    

 
 

  Core  

 
 

  419.7  

 
 

  423.5  

 
 

  3.8  

 
 

   10.5   

 
 

    iGS21-08    

 
 

  Core  

 
 

  517.6  

 
 

  522.1  

 
 

  4.6  

 
 

   6.3   

 
 

    iGS21-08    

 
 

  Core  

 
 

  535.5  

 
 

  537.5  

 
 

  2.0  

 
 

   11.9   

 
 

    iGS21-09    

 
 

  Core  

 
 

  390.1  

 
 

  391.5  

 
 

  1.4  

 
 

   6.2   

 
 

   iGS21-09   

 
 

  Core  

 
 

  422.5  

 
 

  423.5  

 
 

  1.1  

 
 

   5.9   

 
 

    iGS21-10    

 
 

  Core  

 
 

  424.6  

 
 

  428.8  

 
 

  4.2  

 
 

   17.2   

 
 

    iGS21-10    

 
 

  Core  

 
 

  433.1  

 
 

  434.0  

 
 

  0.9  

 
 

   12.6   

 
 

    iGS21-11    

 
 

  Core  

 
 

  416.4  

 
 

  417.6  

 
 

  1.2  

 
 

   9.7   

 
 

    iGS21-11    

 
 

  Core  

 
 

  436.5  

 
 

  442.0  

 
 

  5.5  

 
 

   25.5   

 
 

    iGS21-12    

 
 

  Core  

 
 

  389.5  

 
 

  391.1  

 
 

  1.5  

 
 

   5.4   

 
 

    iGS21-12    

 
 

  Core  

 
 

  441.8  

 
 

  451.0  

 
 

  9.1  

 
 

   11.0   

 
 

    Including    

 
 

  Core  

 
 

  442.6  

 
 

  448.1  

 
 

  5.5  

 
 

   15.5   

 
 
 

 

 
 
                                                       
 

    Previously released 2021 Drill Results from SPZ at Granite Creek, estimated true widths 70-80%    

 
 

    Drillhole ID    

 
 

    Type    

 
 

    From    

 

    (m)    

 
 

    To    

 

    (m)    

 
 

    Length    

 

    (m)    

 
 

    Au    

 

    (g/t)    

 
 

    iGS21-01    

 
 

  Core  

 
 

  386.6  

 
 

  392.7  

 
 

  6.1  

 
 

  12.8  

 
 

    iGS21-03    

 
 

  Core  

 
 

  391.4  

 
 

  398.5  

 
 

  7.1  

 
 

  16.3  

 
 

    iGS21-04    

 
 

  Core  

 
 

  288.0  

 
 

  289.6  

 
 

  1.5  

 
 

  37.36  

 
 

    iGS21-04    

 
 

  Core  

 
 

  326.3  

 
 

  329.8  

 
 

  3.4  

 
 

  16.4  

 
 

    iGS21-04    

 
 

  Core  

 
 

  336.7  

 
 

  337.9  

 
 

  1.2  

 
 

  44.14  

 
 

    iGS21-04    

 
 

  Core  

 
 

  468.3  

 
 

  478.5  

 
 

  10.2  

 
 

  14.7  

 
 

    iGS21-05    

 
 

  Core  

 
 

  398.4  

 
 

  403.7  

 
 

  5.3  

 
 

  16.5  

 
 

    iGS21-05    

 
 

  Core  

 
 

  444.7  

 
 

  451.4  

 
 

  6.7  

 
 

  5.1  

 
 
 

 

 
 
                                                                           
 

    Table 1a    

 

    Collar Coordinates    

 
 

    UTM    

 
 

    Drillhole ID    

 
 

    East m    

 
 

    North m    

 
 

    Elevation m    

 
 

    Azimuth    

 
 

    Dip    

 
 

    NAD83 Zone 11    

 
 

  iGS21-01  

 
 

  478579  

 
 

  4554235  

 
 

  1466  

 
 

  308  

 
 

  -46  

 
 

  iGS21-03  

 
 

  478323  

 
 

  4554119  

 
 

  1556  

 
 

  352  

 
 

  -55  

 
 

  iGS21-04  

 
 

  478323  

 
 

  4554116  

 
 

  1556  

 
 

  340  

 
 

  -64  

 
 

  iGS21-05  

 
 

  478327  

 
 

  4554119  

 
 

  1554  

 
 

  351  

 
 

  -59  

 
 

  iGS21-06  

 
 

  478325  

 
 

  4554119  

 
 

  1554  

 
 

  338  

 
 

  -59  

 
 

  iGS21-07  

 
 

  478541  

 
 

  4554160  

 
 

  1472  

 
 

  315  

 
 

  -46  

 
 

  iGS21-08  

 
 

  478541  

 
 

  4554161  

 
 

  1472  

 
 

  311  

 
 

  -48  

 
 

  iGS21-09  

 
 

  478578  

 
 

  4554235  

 
 

  1466  

 
 

  315  

 
 

  -45  

 
 

  iGS21-10  

 
 

  478579  

 
 

  4554416  

 
 

  1550  

 
 

  280  

 
 

  -67  

 
 

  iGS21-11  

 
 

  478579  

 
 

  4554414  

 
 

  1550  

 
 

  286  

 
 

  -73  

 
 

  iGS21-12  

 
 

  478580  

 
 

  4554411  

 
 

  1549  

 
 

  265  

 
 

  -67  

 
 
 

 

 
 

  Figure 1 – Long Section View (CNW Group/i-80 Gold Corp) 

 
 
 

  Figure 2 – Oblique Plan View (CNW Group/i-80 Gold Corp) 

 
 
 

  Figure 3 – Property Location Map (CNW Group/i-80 Gold Corp) 

 
 

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 .

 

  QAQC Procedures  

 

All samples were submitted to Paragon Geochemical Assay Laboratories (PAL) of Sparks, NV , which is an ISO 9001 and 17025 certified and accredited laboratory, independent of the Company. Samples submitted through PAL are run through standard prep methods and analyzed using FA-Pb30-ICP (Au; 30g fire assay) and 48MA-MS (48 element Suite; 0.5g 4-acid digestion/ICP-MS) methods. PAL 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. Historic holes were assayed by various accredited laboratories. Refer to the November 9   th , 2021 Granite Creek Mine Project Preliminary Economic Assessment NI 43-101 Technical Report for information on historic assays.

 

  Qualified Person  

 

Tim George, PE, 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 to complement existing gold production from the Ruby Hill open pit.

 

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 Granite Creek and the potential of the Granite Creek 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.

 
 

  i-80 Gold Corp Logo (CNW Group/i-80 Gold Corp) 

 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/i-80-gold-continues-to-expand-south-pacific-zone-at-granite-creek-301473604.html  

 

SOURCE i-80 Gold Corp

 

 

 

 Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/February2022/02/c4075.html  

 
 

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i-80 Gold Awards Contract for Lone Tree Autoclave Engineering Study

i-80 Gold Awards Contract for Lone Tree Autoclave Engineering Study

 
 

Bolsters Nevada Operation Team with Multiple Key Hires

 

i-80 Gold Corp. (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") is pleased to announce it has awarded the engineering study for restart of the Lone Tree autoclave to Hatch Ltd. The study will complete a Pre-Feasibility Study ("PFS") level mechanical and operational review of all aspects necessary for the restart of the Company's autoclave processing facility located in northern Nevada. Additionally, as a part of its comprehensive plan to create a Nevada focused gold mining company, i-80 has recently filled multiple key positions continuing to build a tier-one operations team.

 

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  All currencies expressed as United States dollars unless otherwise stated  

 

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i-80 Gold Corp. (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") notes that that its CEO, Ewan Downie has reported on System for Electronic Disclosure by Insiders (SEDI) recent purchases of common shares of the Company through open market purchases on the Toronto Stock Exchange to increase his share ownership to 5,000,027 or 2.09%.

 
 

  i-80 Gold Corp Logo (CNW Group/i-80 Gold Corp) 

 

Since the Company commenced trading on April 14, 2021 , Mr. Downie has purchased more than 1.4 million shares of i-80 to reach an ownership milestone rarely held by executives of publicly traded companies in the mining sector.

 

"Since the inception of the Company less than one year ago, we have closed multiple major transactions that position i-80 as one of the largest holders of gold and silver resources in Nevada ", stated Ewan Downie , Chief Executive Officer of i-80. "We have secured a strong balance sheet including nearly US$200 Million in cash and cash equivalents following funding of the previously announced financing package and have embarked on a peer-best production growth initiative in the world's most favorable mining jurisdiction".

 

  About i-80 Gold Corp.  

 

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  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, commencement of trading of i-80 Gold on the Toronto Stock Exchange and completion of the acquisition of the Getchell 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.

 
 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/i-80-gold-ceo-increases-share-ownership-to-more-than-5-million-shares-301456889.html  

 

SOURCE i-80 Gold Corp

 

 

 

 Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/January2022/10/c8993.html  

 
 

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  All currencies expressed as United States dollars unless otherwise stated  

 

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  /NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES /  

 

i-80 Gold Corp. (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") is pleased to confirm that Equinox Gold Corp. (" Equinox ") has exercised its right under the support agreement (the " Agreement ") dated April 7, 2021 between the Company and Equinox to defend its pro rata ownership of i-80 shares on a partially-diluted basis following the recent issuance of shares by the Company in connection with the acquisitions of the Lone Tree and Buffalo Mountain gold deposits from Nevada Gold Mines LLC and the Ruby Hill mine from affiliates of Waterton Global Resource Management. In connection with the Agreement, Equinox subscribed for 4,800,000 new common shares of the Company at a price of C$2.62 per common share, for gross proceeds to the Company of C$12,576,000 (the " Subscription ").

 

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  •   High-grade gold intercepts highlighted by 15.5 m at 2.30 g/t Au, incl. 8.3 m at 3.43 g/t Au at the Road Cut Zone  
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  •   Initial drilling on the gap between Jagger and Road Cut Zone confirms target structure, warrants further testing  
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  •  

 

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