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i-80 Gold Corp
Symbol IAU
Shares Issued 240,368,618
Close 2022-08-02 C$ 2.39
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i-80 Gold drills 33.9 m of 16 g/t Au at Granite Creek

2022-08-03 09:14 ET - News Release

An anonymous director reports


i-80 Gold Corp. has released positive results from the continuing underground drill program at the company's Granite Creek mine property, located in Humboldt county, Nevada.

The 2022 underground drill program at Granite Creek is focused on delineating mineralization for mining, upgrading and expanding resources. In the upper parts of the mine, high-grade gold mineralization is being defined in the Otto/Adam Peak/Range Front horizons, while from the lower levels drilling is focused on defining mineralization in the Ogee zone, which is expected to be the primary zone in the near future.

Highlight new results from 2022 underground drilling:

  • 8.6 grams per tonne gold over 10.3 metres (0.25 ounce per ton Au over 33.7 feet) in hole iGU22-17 -- Ogee zone;
  • 18.4 g/t Au over 9.1 m (0.54 ounce per ton Au over 30 feet) in hole iGU22-18 -- Otto zone;
  • 13.8 g/t Au over 5.7 m (0.4 ounce per ton Au over 18.8 feet) in hole iGU22-26 -- Range Front zone;
  • 24.4 g/t Au over 14.6 m (0.71 ounce per ton Au over 48 feet) in hole iGU22-30 -- Adam Peak zone;
  • 26.4 g/t Au over five m (0.77 ounce per ton Au over 16.4 feet) in hole iGU22-42 -- Ogee zone;
  • 23.1 g/t Au over five m (0.67 ounce per ton Au over 16.4 feet) in hole iGU22-43 -- Ogee zone;
  • 16 g/t Au over 33.9 m (0.47 ounce per ton Au over 111.3 feet) in hole iGU22-45 -- Ogee zone.

The underground zones at Granite Creek will be included in a resource update following the 2022 program, which is expected to comprise approximately 30,000 metres of drilling from both surface, focused on the South Pacific zone, and the underground Ogee, Otto and Adams Peak zones. An attached table provides a complete summary of new results from the 2022 underground drilling program.

The company is currently mining a bulk sample from the underground zones to deliver an initial 10,000 tons to Nevada Gold Mines' nearby Twin Creeks mine for a metallurgical test, as per the processing agreement, which will allow for the deposit to be developed and ramped up for continuous mining.

"The drill program continues to define high-grade mineralization over substantial widths, particularly within the Ogee zone that remains open for expansion at depth," stated Tyler Hill, senior geologist of i-80.

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. High-grade mineralization occurs in a near-identical geological setting as at the multimillion-ounce Turquoise Ridge mine located immediately to the north, 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.

Quality assurance/quality control procedures

All samples were submitted to ALS Minerals in Sparks, Nev., which is ISO 9001 and 17025 certified and accredited, and independent of the company. Samples submitted to ALS are run through standard preparation methods and analyzed using Au-AA23 (gold; 30 g fire assay) and ME-ICP41 (35-element suite; 0.5 g aqua regia/ICP-AES). ALS also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. i-80 Gold's quality assurance/quality control program includes the regular insertion of certified reference material standards, duplicates and blanks into the sample stream, with a stringent review of all results.

Qualified person

Tim George, PE, mine operations manager, has reviewed the technical and scientific information contained in this press release, and he is a qualified person within the meaning of National Instrument 43-101.

About i-80 Gold Corp.

i-80 Gold 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, which includes an autoclave.

We seek Safe Harbor.

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