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

News Provided by Canada Newswire via QuoteMedia

IAU:CA
The Conversation (0)
i-80 Gold Intersects High-Grade Gold in Underground Drilling at Granite Creek

i-80 Gold Intersects High-Grade Gold in Underground Drilling at Granite Creek

Including 10.7 g/t Au over 9.4 m , 8.2 g/t Au over 5.6 m & 14.5 g/t Au over 2.7 m

i-80 Gold CORP . (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") is pleased to announce positive assay results from the ongoing underground drill program at the Company's Granite Creek Property (" Granite Creek " or " the Property ") located in Humboldt County, Nevada .

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
i-80 Gold Intersects High-Grade Gold in Underground Drilling at Granite Creek

i-80 Gold Intersects High-Grade Gold in Underground Drilling at Granite Creek

Including 10.7 g/t Au over 9.4 m , 8.2 g/t Au over 5.6 m & 14.5 g/t Au over 2.7 m

i-80 Gold CORP . (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") is pleased to announce positive assay results from the ongoing underground drill program at the Company's Granite Creek Property (" Granite Creek " or " the Property ") located in Humboldt County, Nevada .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
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.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
i-80 Launches Comprehensive Plan to Create Nevada Focused Gold Mining Company

i-80 Launches Comprehensive Plan to Create Nevada Focused Gold Mining Company

All currencies expressed as United States dollars unless otherwise stated

i-80 Gold Corp. (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the "Company") is pleased to announce its development plans for 2022 - a catalyst-rich year as the Company commences its plans to build a comprehensive Nevada mining complex.  i-80 is in the process of developing multiple mining operations to achieve its objective of building a Nevada focused mining company with a goal of ultimately producing more than 500,000 ounces of gold annually.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
i-80 Gold CEO Increases Share Ownership to More than 5 Million Shares

i-80 Gold CEO Increases Share Ownership to More than 5 Million Shares

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.

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 four new open pit and underground mining operations that will ultimately process ore at the Company's centrally located Lone Tree complex 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, 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

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
gold bars

Editor's Picks: Gold Hits New All-time High, First Quantum Pursues Arbitration

Gold began the final month of the year auspiciously, hitting a fresh all-time high.

February gold futures ended Friday (December 1) at US$2,091.70 per ounce, but as Lobo Tiggre of IndependentSpeculator.com pointed out, the yellow metal closed at its highest level ever regardless of the contract.

The move has generated excitement among market participants, but whether gold keeps rising remains to be seen.

Keep reading...Show less

Developments in Panama

Franco-Nevada Corporation (" Franco- Nevada " or the " Company ") (TSX: FNV) (NYSE: FNV) notes that its partner, First Quantum Minerals Ltd. (" First Quantum "), has provided a further update in respect of recent comments made by the President of Panama Laurentino Cortizo regarding a transition process for the closure of the Cobre Panama mine.

For more detailed information, please refer to First Quantum's news release dated December 1, 2023 .

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
john feneck, gold bars

John Feneck: Gold Setup is "Beautiful," New All-time High to Come

Gold is above US$2,000 per ounce again, and John Feneck of Feneck Consulting believes it's set to move higher.

"I think the gold setup here is beautiful ... I've been very guarded on the price of gold — I've never talked new highs ever, I've never said US$2,500 this or US$5,000 that," he told the Investing News Network. "(But) we are saying as a result of what happened October 7 that you are going to see a new all-time high in gold next year, which is new for us."

Keep reading...Show less

White Gold Corp. Announces Fully Committed C$5.1 Million Private Placement

White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W) (the " Company ") is pleased to announce a non-brokered private placement of: (i) flow-through common shares at a price of C$0.33 per share (each a "FT Share "); and (ii) common shares in the capital of the Company  at a price of C$0.30 per common share (each a " Common Share "), and for total gross proceeds of approximately C$5,116,000 (the " Offering ").

"We are very appreciative for the continued support for our exciting and impactful exploration activities to advance our significant gold deposit and other recent high-grade gold discoveries on our district scale land package in the prolific and under explored White Gold District." stated David D'Onofrio, Chief Executive Officer.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Cobre Panama Additional Operations Update

Franco-Nevada Corporation (" Franco- Nevada ") (TSX: FNV) (NYSE: FNV) notes that its partner, First Quantum Minerals Ltd. (" First Quantum "), has issued an update reporting that due to the continued illegal blockades at the Punta Rincon port and roads to the site, the Cobre Panama mine has suspended commercial production and is applying a program of preservation and safe maintenance of the plant and facilities.

For more detailed information, please refer to First Quantum's news release dated November 28, 2023 .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
2023 Q4 Gold Outlook Report

2023 Q4 Gold Outlook Report

Strike Gold: A Comprehensive Guide for Savvy Investors

The Investing News Network (INN) spoke with analysts, market watchers and insiders about which trends will impact gold in the coming months.

✓ Trends ✓ Forecasts ✓ Top Stocks

Keep reading...Show less

Latest Press Releases

Related News

×