i-80 Gold Reports Final Results from Phase 1 Drilling Targeting Open Pit Mineralization at the Granite Creek Mine Project in Nevada

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    <br /> i-80 Gold Reports Final Results from Phase 1 Drilling Targeting Open Pit Mineralization at the Granite Creek Mine Project in Nevada<br />

    PR Newswire



    New results include 36.74 g/t Au over 9.1 Metres


    RENO, Nev.

    ,

    Dec. 8, 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 phase of drilling at the Company’s Granite Creek Mine (“Granite Creek” or “the Property”) Property, for geotechnical and metallurgical purposes associated with the planned open pit project, have been received and confirm the high-grade open pit opportunity.

    Several holes were drilled into the mineralized structures for metallurgical purposes including iGM21-01, 03, 08 and 09. Drilling in the CX-Pit area intersected higher than anticipated grades and additional drilling will likely be completed. Full results from the open pit drilling are set out in Table 1 below

    .

    The open pit program was completed for geotechnical and metallurgical purposes in advance of initiating permitting for an open pit mine with on-site processing. The balance of the ongoing drill program is primarily targeting mineralization to advance underground mining on the Property.



    Table 1 – Highlight Assay Results from Open Pit Drilling


    New 2021 Drill Results from Granite Creek

    Some estimated true widths are low due to drilling to obtain large samples for metallurgical testing

    Numbers may not add due to rounding



    Drillhole ID



    Type



    From



    (m)



    To



    (m)



    Length



    (m)



    Au



    (g/t)



    Estimated

    true width



    iGM21-01*


    Core


    83.7


    134.8



    51.1



    6.80


    10 – 30%



    iGM21-02


    Core


    26.8


    73.5



    46.6



    0.34


    80 – 90%



    iGM21-03


    Core


    106.0


    117.2



    11.2



    0.96


    10 – 30%



    iGM21-03


    Core


    232.5


    254.1



    21.6



    0.97


    10 – 30%



    iGM21-06


    Core


    246.9


    252.1



    5.2



    2.45


    70 – 90%



    iGM21-06


    Core


    283.5


    292.6



    9.1



    36.74


    70 – 90%



    iGM21-08


    Core


    32.0


    157.3



    125.3



    2.25


    10 – 30%



    iGM21-08


    Core


    169.0


    186.2



    17.2



    2.90


    10 – 30%



    iGM21-08


    Core


    193.0


    210.9



    17.9



    0.96


    10 – 30%



    iGM21-09


    Core


    14.8


    63.4



    48.6



    7.54


    10 – 20%


    *


    Previously released 08/30/2021


    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


    iGM21-02


    477494


    4553225


    1632


    270


    -60


    iGM21-03


    478827


    4553408


    1503


    020


    -56


    iGM21-04*


    478351


    4554172


    1557


    090


    -45


    iGM21-05*


    478238


    4553586


    1543


    310


    -63


    iGM21-06


    478369


    4553708


    1533


    330


    -57


    iGM21-07*


    478672


    4553694


    1434


    000


    -45


    iGM21-08


    478810


    4553573


    1434


    028


    -60


    iGM21-09


    478095


    4553737


    1445


    145


    -54


    *


    Holes drilled for geotechnical purposes and thus do not contain significant intercepts

    The majority of the ongoing program, expected to consist of more than 20,000 metres of drilling that will extend well into 2022, is focused on defining and expanding mineralization within several high-grade target areas proximal to existing underground mine workings at Granite Creek. This program has yielded numerous successes including the identification of an extensive high-grade structure to the north of the underground mine workings that is the focus of surface expansion drilling.

    i-80 has completed initial rehabilitation of the underground mine workings and the Company is also completing a major underground drilling program as part of an aggressive plan to re-commence mining. A test mining program is ramping up and a Preliminary Economic Assessment for Granite Creek was recently released, demonstrating robust economics associated with underground and open pit mining at the Property (See press release dated

    November 9, 2021

    ).

    “We continue to realize substantial success in numerous areas at Granite Creek, including the completion of open pit drilling in advance of permit applications”, stated

    Matt Gili

    , President and Chief Operating Officer of i-80. “These successes bode well for the planned ramp-up of underground mining, planned for H1-2022 and the long-term future of this exciting property.”

    Granite Creek is strategically located immediately south of 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

    (see Figure 3 below). i-80 recently entered into an interim processing agreement with

    Nevada Gold Mines

    that will provide for the processing of material from Granite Creek at the nearby Twin Creeks (Sage) plant.


    QAQC Procedures

    All samples were submitted to Paragon Geochemical Assay Laboratories (PAL) of

    Sparks, NV

    , which is an ISO 9001 and 17025 certified and accredited laboratory, independent of the Company. Samples submitted through PAL are run through standard prep methods and analysed using FA-Pb30-ICP (Au; 30g fire assay) and 48MA-MS (48 element Suite; 0.5g 4-acid digestion/ICP-MS) methods. PAL 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

    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 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.

    ______________________________________________


    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

    PR Newswire
    December 8, 2021 – 3:00 AM PST