VANCOUVER, British Columbia, Nov. 21, 2022 (GLOBE NEWSWIRE) — i-80 Gold Corp (TSX:IAU) (NYSE:IAUX) (FSE:8JI) reported bonanza-grade CRD mineralization from the first four holes drilled to follow-up the recently discovered Hilltop Zone at the Company’s 100%‑owned Ruby Hill Property located in Eureka County, Nevada. With 5 properties in Nevada, i-80 Gold is one of the largest holders of gold and silver resources in the United States.
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Highlights from recent core drilling in the “Upper Horizon” at the Hilltop target include:
Hole iRH22-51, which returned 33.0 g/t gold, 3010.0 g/t silver & 63.5% lead over 0.6 metres and 3.1 g/t gold, 683.3 g/t silver & 37.6% lead over 14.6 metres.
Hole iRH22-53, which returned 1.9 g/t gold, 631.3 g/t silver, 7.4% zinc & 33.0% lead over 18.3 metres
Hole iRH22-54, which returned 0.6 g/t gold, 374.1 g/t silver, 3.9% zinc & 20.2% lead over 20.8 metres, and
Hole iRH22-55, which returned 60.2 g/t gold, 908.7 g/t silver, 1.1% zinc & 15.7% lead over 10.0 metres, including 83.2 g/t gold, 1261.0 g/t silver, 1.5% zinc, & 22.1% lead over 7.0 metres
These results confirmed the high-grade, polymetallic CRD mineralization previous reported in the discovery hole, iRH22-43, in the Upper Hilltop Zone, announced August 30th, which returned an impressive 515.3 grams per tonne silver, 28.9% lead, 10.5% zinc & 0.9 grams per tonne gold over 28.3 metres.
Owing to this successful drilling at the Hilltop Zone, the program at Ruby Hill has again been expanded to facilitate additional step-out drilling at this target.
In addition to the Upper Horizon, drilling is testing the Lower Horizon, where the initial hole iRH22-25 intersected multiple zones of mineralization including 238.8 g/t silver, 11.0% zinc and 9.0% lead over 9.4 metres and 469.5 g/t silver, 11.8% zinc and 18.2% lead over 2.1 metres. Drilling is being completed in both the Upper and Lower Hilltop horizons with assays pending.
The Hilltop discovery is a new zone of mineralization, located approximately 400 metres southwest of the polymetallic Blackjack Zone, immediately south of the Archimedes pit and proximal to the planned portal that the company is advancing for construction. Mineralization consists of polymetallic carbonate replacement (CRD) in the form of massive and semi-massive sulphide and oxide mineralization containing high-grade precious metals and base metals. Continued definition and expansion drilling is underway and the horizon remains open along strike and at depth.
The Hilltop discovery opens up a structural corridor measuring greater than 1.5 km between the Archimedes pit and the original Ruby Hill Mine, which was previously underexplored due to post-mineral alluvial cover. Mineralization in the upper horizon occurs immediately below alluvial cover at a depth of approximately 150 metres. Geophysical surveys have been completed over the discovery area, including downhole electromagnetic (EM) and surface and induced polarization (IP) surveys, in an effort to identify additional massive sulfide targets.
Infill and step-out drilling was also completed in 2022 in the Ruby Deeps (Carlin-type) gold deposit to aide in the advancement of the company’s plan to develop an underground mine at Ruby Hill with mineralization accessed via a ramp from the Archimedes open pit.
The Ruby Hill Property is one of the company’s primary assets and is host to the core processing infrastructure within the Eureka District of the Battle Mountain-Eureka Trend including an idle leach plant, an active heap leach facility, and is host to multiple gold, gold-silver and polymetallic (base metal) deposits. The current program at Ruby Hill is one of several drill programs on i-80 projects in 2022 that are collectively budgeted to comprise more than 50,000 metres.
Work is also progressing for the completion of updated mineral resource estimates for the gold and polymetallic zones and an initial economic study focused on the gold zones.
The shares are trading at $3.37, up significantly from the $2.80 price prior to the release of these results. For more information, please visit the company’s website at www.i80gold.com.
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Barry Morgan, CFO