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i-80 Gold Corp
Symbol IAU
Shares Issued 240,368,618
Close 2022-09-13 C$ 2.36
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i-80 Gold drills 6.4m of 44.4 g/t gold at Granite Creek

2022-09-13 12:00 ET - News Release

Mr. Ewan Downie reports


i-80 Gold Corp. has released results from an additional 19 holes drilled in the continuing 2022 surface drill program testing the high-grade South Pacific zone at the company's Granite Creek property located in Humboldt County, Nevada.

The South Pacific zone (SPZ) is a new zone of high-grade gold mineralization located immediately north of the underground mine workings at Granite Creek. Drilling continues to delineate and expand mineralization in the SPZ, with new results indicating significant expansion potential including hole iGS22-24 that returned 10.7 g/t (grams per tonne) gold over 14.5 metres and is a 40-metre northern stepout from iGS22-04 (11.2 g/t Au over 7.3 m). Additionally, hole iGS22-16 was drilled in the southern portion of the SPZ, with three impressive intervals within 100 m of existing underground workings, including 15.5 g/t Au over 2.7 m, 19.6 g/t Au over 10.4 m and 10.2 g/t Au over 4.9 m. The SPZ remains open for expansion along strike to the north and at depth

Highlight results from 2022 drilling in the South Pacific zone (and adjacent horizons):

  • 12.1 g/t Au over seven m (0.35 ounce/ton Au over 23 feet) in hole iGS22-07;
  • 19.6 g/t Au over 10.4 m (0.57 ounce/ton Au over 34 feet) in hole iGS22-16;
  • 44.4 g/t Au over 6.4 m (1.3 ounces/ton Au over 21 feet) in hole iGS22-18;
  • 10.7 g/t Au over 14.5 m (0.31 ounce/ton Au over 47.7 feet) in hole iGS22-24;
  • 15.3 g/t Au over 7.1 m (0.45 ounce/ton Au over 23.4 feet) in hole iGS22-25.

The SPZ is the priority target of the continuing surface drill program at Granite Creek and is anticipated to be included in a resource update following the 2022 program. Multiple holes were drilled to better define the upper and southern limits of the SPZ and returned modest results, as was anticipated based on historic drilling. Additional drilling in 2022 has been completed along strike and at depth, with assays pending, and has continued to intersect mineralization within the target horizon, suggesting further upside. The "Summary of new assay results from 2022 surface drilling in SPZ" table provides a summary of new results from the SPZ. So far in 2022, more than 30 holes have been drilled in the SPZ.

"The continuity of high-grade mineralization within the South Pacific zone appears to be excellent over a strike length of more than 600 metres and dip length of 250 metres," stated Tyler Hill, senior geologist of i-80. "The zone remains open for expansion, with the goal for it to be a significant source of production for Granite Creek in the coming years. Owing to our substantial success, we have prioritized the extension of the decline in order to accelerate the development of underground workings towards the SPZ."

High-grade mineralization at Granite Creek occurs in a near-identical geological setting as that 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.

"Ongoing drilling in the South Pacific zone continues to confirm one of the highest-grade gold discoveries made in recent years, not only in Nevada but anywhere in the world," stated Ewan Downie, chief executive officer of i-80. "Given its proximity to our existing underground workings, the SPZ can be developed quite rapidly and represents a potential game-changer in our ultimate production profile."

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.

QA/QC (quality assurance/quality control) procedures

All samples were submitted to ALS Minerals (ALS) of Sparks, Nev., 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 analyzed using Au-AA23 (Au; 30-gram fire assay) and ME-ICP41 (35-element suite; 0.5-gram 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 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.

Qualified person

Tim George, PE, mine operations manager, reviewed the technical and scientific information contained in this press release; he is a qualified person within the meaning of NI 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 that includes an autoclave.

We seek Safe Harbor.

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