New El Nino Drill Results Include 14.05 g/t Au
Over 25.9 m
RENO, Nev., April 21, 2021 /CNW/ - i-80 GOLD
CORP. (TSX: IAU) ("i-80", or the "Company") is
pleased to provide an update for its 40%-owned South Arturo
Property located in the Carlin Trend of Nevada. South Arturo is a
joint venture with Nevada Gold Mines
("NGM") and includes the high-grade El Nino underground mine, which
is in production.
Work completed in 2020 included a successful expansion drill
program at El Nino as well as work targeting the advancement of two
additional development opportunities on the property; the Phase 1
open pit and the Phase 3 project.
El Nino
The 3,800 metre drill campaign completed in 2020 from
underground drilling stations demonstrated the ability to extend
mine life at depth with numerous high grade intercepts (previously
released) including 26.76 g/t Au across 18.3 m, 17.11 g/t Au across 39.6 m and 5.73 g/t Au across 100.6 m. Additional highlight results
from new results received from the 2020 program are provided below.
Following up on the success of this drill program, more than 8,000
meters of exploration drilling are planned in 2021 focused on
extending mineralization further down dip at the Lower El Nino and
Cloud Nine targets.
Highlight assay results for previously unreleased intercepts
from the 2020 drill program include:
- 19.8 m of 12.20 g/t Au
(SEC20012)
- 29.0 m of 6.20 g/t Au
(SEC20014)
- 25.9 m of 14.05 g/t Au
(SEC20015)
Development of a ramp to access the deeper mineralization is
under way and is expected to be completed in Q1 2023. Production of
orebodies accessed from the ramp is expected to begin in Q2
2022.
Phase 1
More than 3,500 metres of drilling was completed on the near
surface portion of the planned Phase 1 open pit to increase
confidence in the ore reserves and upgrade mineral resources. This
drilling returned higher than expected grade-thicknesses and
Barrick has moved heap leach material from Phase 1 into their
year–end 2020 mineral reserves. In 2021, the joint venture plans to
complete further metallurgical work in advance of mine
construction.
Phase 3
2020 drilling completed in the Phase 3 project area also
returned favorable results and the joint venture partners have
commenced trade-off studies to optimize the economics of the
project as an underground versus open pit project, or a combination
scenario. Initial work on the underground option has been
encouraging and 3,500 metres of exploration drilling is planned to
test the Hendrix target located between the El Nino and Phase 3
deposits.
"El Nino continues to deliver excellent results as demonstrated
by the latest intercepts of our 2020 drill campaign. Multiple
holes intersected zones of impressive grade over a mineable width",
stated Matt Gili, President and COO
of i-80 Gold. "We expect to see these results incorporated
into an updated mineral resource model expected later in
2021. The deposit remains open at depth and along strike".
Figure 1 – El Nino isometric view – Drilling from underground
platforms
Table 1 – New 2020
Drill Results from El Nino
|
Hole
ID
|
Type
|
From
(m)
|
To
(m)
|
Length
(m)
|
Grade (g/t
Au)
|
Length
(ft)
|
Grade (oz/ton
Au)
|
SEC20012
|
Core
|
108.2
|
128.0
|
19.8
|
12.20
|
65
|
0.356
|
SEC20014
|
Core
|
76.2
|
105.2
|
29.0
|
6.20
|
95
|
0.181
|
SEC20015
|
Core
|
53.3
|
79.2
|
25.9
|
14.05
|
85
|
0.410
|
Table 2 – Collar
Coordinates
|
UTM
|
Project
|
Hole
ID
|
North
m
|
East
m
|
Elevation
m
|
Azimuth
|
Dip
|
Nad83 Zone
11
|
El Nino
|
SEC20012
|
4543500
|
549513
|
1479
|
294
|
-79
|
El Nino
|
SEC20014
|
4543509
|
549451
|
1483
|
031
|
-83
|
El Nino
|
SEC20015
|
4543510
|
549452
|
1483
|
303
|
-77
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 the
development of the Company's Getchell and McCoy-Cove Projects.
Qualified Person
Tim George, PE, Manager of Engineering Services, 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. The primary assay laboratories for the South
Arturo Mine are ALS Minerals and American Assay Labs in
Reno, Nevada. For a complete
description of sample preparation, analytical methods and QA/QC
procedures, refer to the technical report dated January 25, 2021 (effective date December 1, 2020), titled "Preliminary
Feasibility Study for the South Arturo Mine, Elko County, NV" located on i-80's website and
at www.sedar.com.
Abbreviations used in this press release are available by
following this link (click here).
|
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.
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/i-80-gold-provides-south-arturo-update-in-nevada-301273402.html
SOURCE i-80 Gold Corp