Mr. Tyler Hill reports
I-80 GOLD INTERSECTS HIGH-GRADE GOLD IN UNDERGROUND DRILLING AT GRANITE CREEK
i-80 Gold Corp. has released positive initial assay results from the continuing underground drill program at the company's Granite Creek propertylocated in Humboldt county, Nevada.
High-grade results from drilling from the 4740 level targeting mineralization in the Otto and Adam Peak fault horizons proximal to and below existing mine workings confirm consistency of mineralization in one of the initial areas being defined for underground mining. When combined with historic high-grade drilling in this area that returned numerous high-grade results including 20.8 grams per tonne gold over 6.1 metres in hole PRC-13-084 and 17.8 g/t Au over 6.1 m in hole APRF-225, a continuous zone of mineralization is being defined that remains open at depth.The Otto fault horizon is one of the multiple target areas being drilled, and several holes intersected gold mineralization in multiple horizons.The current program is expected to comprise more than 20,000 metres from surface and underground with continued assay results to be provided as received.
Highlight results from initial underground drilling from level 4740 include:
41.3 g/t Au over 7.1 m in hole iGU21-07;11.0 g/t Au over 3.4 m and 16.5 g/t Au over 3.0 m in hole iGU21-08;16.0 g/t Au over 7.3 m in hole iGU21-09;11.3 g/t Au over 4.6 m in hole iGU21-11;10.5 g/t Au over 3.8 m in hole iGU21-12;17.5 g/t Au over 2.3 m and 17.6 g/t Au over 2.0 m in hole iGU21-14.
The primary goal of the 2021 drill program is to advance underground and open-pit opportunities to production.It is expected that refractory mineralization from the underground operation at Granite Creek will initially be trucked to Twin Creeks for processing, pursuant to the agreement recently entered into with Nevada Gold Mines, until such time that the company's Lone Tree facility is operational. A preliminary economic assessment for Granite Creek is nearing completion and expected to be released in the near future.
Tyler Hill, senior geologist of i-80, commented: "These results confirm the high-grade opportunity that we are developing at Granite Creek and demonstrate excellent continuity of mineralization within the Otto and Adam Peak fault horizons that appear to broaden with depth.Stepout drilling is being completed along strike and at depth, and we have intersected strong alteration and faulting in most holes drilled to date."
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 and stepout drilling aimed at expanding resources is currently under way.
SUMMARY ASSAY RESULTS FROM LEVEL 4740 DRILLING NEW 2021 DRILL RESULTS FROM GRANITE CREEK(true widths are 60 to 90 per cent) (estimate only -- true widths are unknown)Drill hole ID FromToLengthAu (m) (m) (m) (g/t)iGU21-04 121.6 123.1 1.511.7iGU21-0589.391.9 2.611.5iGU21-05 203.6 208.5 4.9 8.0iGU21-07 119.8 126.9 7.141.3iGU21-07 150.3 153.3 3.0 6.8iGU21-0899.6 103.0 3.411.0iGU21-08 150.6 153.6 3.016.5iGU21-09 136.9 144.2 7.316.0iGU21-09 151.2 157.9 6.7 6.4iGU21-1075.977.4 1.538.9iGU21-10 116.4 117.4 1.015.8iGU21-11 133.5 138.1 4.611.3iGU21-12 163.8 167.6 3.810.5iGU21-13 126.7 128.0 1.3 6.9iGU21-13 176.8 178.3 1.512.1iGU21-1459.661.9 2.3 7.6iGU21-1480.983.2 2.317.5iGU21-14 100.3 102.3 2.017.6iGU21-14 126.5 131.2 4.7 6.9
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.
The majority of the continuing 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 recommence mining from underground, the company is in the process of rehabilitating several areas for the purposes of commencing test mining in the second half of 2021.
Quality assurance/quality control procedures
All samples were submitted to either American Assay Laboratories (AAL) or Paragon Geochemical Assay Laboratories (PAL) both of Sparks, Nev., which are International Organization for Standardization 9001- and 17025-certified and -accredited laboratories, independent of the company. Samples submitted through PAL and AAL are run through standard prep methods and analyzed using FA-Pb30-ICP (Au: 30 g fire assay) and 48MA-MS (48-element suite: 0.5 g four-acid digestion/ICP-MS (inductively coupled plasma mass spectrometry)) methods. PAL and AAL also undertake their own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. i-80 Gold's QA/QC program includes regular insertion of CRM standards, duplicates and blanks into the sample stream with a stringent review of all results. Historic holes PRC-13-084 and APRF-225 were assayed by Inspectorate American Laboratories (IAL) in Sparks, Nev., which was an ISO 9002-accredited facility. Samples submitted through IAL and were run through standard prep methods and analyzed using a 30-gram fire assay. Historic hole BRFC-026 was assayed by AAL with standard prep methods and analyzed using a 30-gram fire assay.
Qualified person
Tim George, PE, manager of engineering services, reviewed the technical and scientific 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 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.
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