17:07:13 EST Fri 27 Jan 2023
Enter Symbol
or Name

Login ID:
i-80 Gold Corp
Symbol IAU
Shares Issued 240,368,618
Close 2022-11-28 C$ 3.44
Recent Sedar Documents

i-80 Gold drills 14.2 m of 14.4 g/t Au at Ruby Hill

2022-11-29 09:38 ET - News Release

Mr. Tyler Hill reports


i-80 Gold Corp. has released continued positive results from its continuing drill program at the company's 100-per-cent-owned Ruby Hill property, located in Eureka county, Nevada.

Owing to the substantial success of the 2022 exploration campaign, including multiple new discoveries, the drilling program at Ruby Hill has again been increased and will be active until year-end with a focus on expanding the recent discovery of high-grade polymetallic mineralization in the Hilltop corridor.

New results from drilling at the Ruby Deeps deposit continue to expand mineralization further demonstrating excellent continuity of mineralization, impressive widths and grades, often in excess of 10 grams per ton gold (g/t Au), and favourable ground conditions. Hole iRH22-57 intersected 9.0 g/t Au over 51.2 m , expanding mineralization in the Ruby Deeps 50 m to the north of iRH21-05 that returned 7.1 g/t Au over 78.6 m . Hole iRH22-29 intersected 13.3 g/t Au over 6.4 m and 11.3 g/t Au over 5.8 m , expanding mineralization to the south of iRH22-06 that intersected 19.8 g/t Au over 33.2 m . Mineralization remains open for expansion to the north and south (see Figures 1 & 2 and Table 1).

Highlight results from new drilling in the Ruby Deeps horizon:

  • iRH22-29: 13.3 g/t Au over 6.4 m (0.39 oz/ton - 21.0 ft) and 11.3 g/t Au over 5.8 m (0.33 oz/ton - 19.0 ft)
  • iRH22-32: 14.4 g/t Au over 14.2 m (0.42 oz/ton - 46.5 ft) and 12.2 g/t Au over 8.1 m (0.36 oz/ton - 40.0 ft)
  • iRH22-56: 11.1 g/t Au over 9.9 m (0.32 oz/ton - 32.5 ft) and 10.7 g/t Au over 6.4 m (0.31 oz/ton - 21.0 ft)
  • iRH22-57: 9.0 g/t Au over 51.2 m (0. 26 oz/ton - 173.0 ft)

Ongoing drilling is focused on defining and expanding gold mineralization in the primary zones while also testing several high-potential targets on the Property including the recent Hilltop discovery. Step-out drilling in both the Upper and Lower Hilltop Zones continues to intersect sulphide mineralization (additional results pending), confirming substantial expansion potential and a recently completed geophysical survey has identified several nearby high-priority anomalies. As a result, the 2022 drill program at Ruby Hill will continue with more than 40,000 metres expected to be completed by year-end.

Following the 2022 drill program, the Company will complete a revised resource estimate for the Ruby Deeps deposit prior to the completion of an economic study. Confirmatory drilling is also being completed in the Blackjack Zone with the goal of including it in the 2023 resource updates.

The Ruby Deeps deposit is comprised of the 426 Zone, the upper part of the deposit interpreted to consist of more vertical mineralization hosted within or proximal to the northeast striking 426 fault structure, and the deeper Ruby Deeps Zone, a flat-lying, north-south striking, sulphide zone located in the hanging wall of the Holly and 150 fault structures. Both zones remain open for expansion.

"Ruby Hill has truly outperformed expectation, demonstrating the property's potential to host both a large Carlin-type gold deposit and also extremely high-grade polymetallic CRD mineralization", stated Tyler Hill, Senior Geologist of i-80. "Apparent rock quality at the Ruby Deeps deposit appears more competent than at most other Nevada deposits of this type which bodes well for mining."

The Ruby Hill Property is one of the Company's primary assets and is host to the core infrastructure within the Eureka District of the Battle Mountain-Eureka Trend. The Property is host to multiple gold, gold-silver and polymetallic (base metal) deposits.

Holes not listed in Table 1 below were either previously released or drilled to test the Hilltop Zones, many of which will be part of a separate release. The 007 Zone is a new horizon of oxide mineralization located in close proximity to the 426 Zone. The Blue Sky drilling was testing a broad area located approximately 1 km to the north of the Archimedes pit - gold mineralization intersected in several holes provides a new target for drilling in 2023.

QAQC Procedures

All samples were submitted to either American Assay Laboratories (AAL) or ALS Minerals (ALS) both of Sparks, NV, which are ISO 9001 and 17025 certified and accredited laboratories, independent of the Company. Samples submitted through AAL and ALS are run through standard prep methods and analyzed using FA-Pb30-ICP (Au; 30g fire assay; AAL) and Au-AA23 (Au; 30g fire assay; ALS) and ME-ICP41 (35 element suite; 0.5g Aqua Regia/ICP-AES; ALS). AAL and ALS 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.

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 to complement existing gold production from the Ruby Hill open pit.

We seek Safe Harbor.

© 2023 Canjex Publishing Ltd. All rights reserved.