6.80 g/t Au over 51.1 Metres – Oxide
Mineralization below CX-Pit
RENO, Nev., Aug. 30, 2021 /PRNewswire/ - i-80 GOLD
CORP. (TSX: IAU) (OTCQX: IAUCF) ("i-80", or the
"Company") is pleased to announce that assay results for
the first hole drilled at the Company's Granite Creek Property
("Granite Creek" or "the Property") located in Humboldt County, Nevada has returned
high–grade results that confirm the high-grade open pit
opportunity.
Hole iGM21-01, drilled from the bottom of the historic CX-Pit
intersected two zones of mineralization grading 3.17 g/t Au over
7.5 m and 6.80 g/t Au over
51.1 m (see Table 1). The
hole was drilled for metallurgical purposes into the main structure
below the pit (true widths unknown) and returned exceptional grades
that appear to be oxide mineralization based on an average cyanide
soluble to fire assay ratio of 0.94 over both intervals. The
surface drill program targeting open pit mineralization at Granite
Creek is complete (see Figure 2 below) and multiple assays remain
pending. The drill program was focused on intersecting material to
be used for metallurgical and geotechnical purposes in advance of
initiating permitting for an open pit mine and on-site
processing.
Table 1 – Highlight Assay Results from hole iGM21-01
Table
1
New 2021 Drill
Results from Granite Creek
|
Drillhole
ID
|
Type
|
From
m
|
To
m
|
Length
m
|
Au
g/t
|
iGM21-01
|
Core
|
33.8
|
41.3
|
7.5
|
3.17
|
iGM21-01
|
Core
|
83.7
|
134.8
|
51.1
|
6.80
|
including
|
Core
|
86.1
|
125.7
|
39.6
|
8.42
|
Table
1a
Collar
Coordinates
|
UTM
|
Drillhole
ID
|
East
m
|
North
m
|
Elevation
m
|
Azimuth
|
Dip
|
NAD83 Zone
11
|
iGM21-01
|
478255
|
4553917
|
1452
|
145
|
-56
|
Granite Creek 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. The primary goal of the 2021 drill
program is to advance underground and open pit opportunities to
production.
Matt Gili, President and Chief
Operating Officer of i-80 commented: "Advancing the Granite Creek
Mine Project is the Company's primary focus for 2021. With more
than 20,000 metres of drilling planned in the current program, our
goal will be to increase resources, advance permitting to
facilitate open pit mining, and prepare for underground test mining
that is expected to be initiated this year."
The majority of the ongoing program, expected to consist of more
than 20,000 metres of drilling, is focused on defining and
expanding mineralization within several high-grade target areas
proximal to existing underground mine workings at Granite Creek.
i-80 has completed initial underground rehabilitation and has
commenced underground drilling. As part of an aggressive plan to
re-commence mining from underground, the Company is in the process
of rehabilitating several areas for the purposes of commencing test
mining in H2-2021. A Preliminary Economic Assessment for Granite
Creek is nearing completion and expected to be released in the
coming weeks.
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 Nevada-focused mining company with a goal of
achieving mid-tier gold producer status. In addition to its
producing mine, El Nino at South Arturo, i-80 is beginning to plan
for future production growth through the potential addition of the
Phases 1 & 3 projects at South Arturo and advancing underground
development programs for the Granite Creek and McCoy-Cove
Properties.
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.
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SOURCE i-80 Gold Corp