Reno, Nevada, April 03, 2023 – i-80 GOLD CORP. (TSX:IAU) (NYSE:IAUX) (“i-80”, or the “Company”) is pleased to provide an update on the Company’s exploration and development programs at its Ruby Hill, Granite Creek, Lone Tree, McCoy-Cove and Buffalo Mountain Properties as well as the results of the initial cost estimate for the refurbishment of the Lone Tree. Continued success in the early part of the 2023 exploration campaign at the Company’s 100%-owned Ruby Hill Property (“Ruby Hill” or “the Property”) located in Eureka County, Nevada highlights the substantial upside at the Company’s flagship project with multiple new zones of both Carlin-type gold and Carbonate Replacement Deposit (CRD) type mineralization having been discovered in the early part of the program.
Key initiatives for each project include:
Ruby Hill Property – Major drill program underway, Preliminary Economic Assessment (PEA) being completed for the underground gold mineralization, permitting ongoing for underground development, detailed metallurgical work and processing plan under development
Granite Creek Property – Underground development progress, mining rate increasing, economic studies and revised resource estimate being completed
Lone Tree Property – Cost estimate for the restart of the autoclave facility completed and work on the Class III Engineering (detailed engineering) Study underway, Ongoing residual leach program
McCoy-Cove Property – Underground development progress to more than 70% completion, ~40,000 metre underground drill program underway
Buffalo Mountain Property – Drilling program completed in late 2022, assessing potential for an open pit mining operation
“2023 is expected to be a catalyst-rich year with exploration, development, and mining projects complemented by economic studies and resource updates.”, stated Ewan Downie, CEO of i-80. “This work will continue to provide information so that we can make an informed decision related to the sequencing of the start-up of our two processing facilities to achieve our industry-best production growth plan.”
Ruby Hill Property
Four main initiatives are planned at Ruby Hill for 2023 including a large-scale exploration drilling program, initial economic work for the planned Ruby Deeps underground gold mine, permitting to allow for the commencement of underground development and advanced metallurgical work for the recoveries of gold and polymetallic base metal mineralization for mining and processing planning.
Five drills are currently active focused on expanding mineralization in the primary known zones and also testing several new exploration targets on the property. New discoveries have been made in the early part of the 2023 drilling program with Carlin-type (gold) and CRD (polymetallic) mineralization intersected in several new target areas located in close proximity to the underground infrastructure being planned for the Property.
Drilling in the Upper Hilltop Zone continues to expand mineralization and semi-massive and massive sulphide CRD mineralization has been discovered in the East Hilltop area (see Figure 1 and Photo 1). Additionally, multiple horizons of mineralization have been intersected in hole iRH23-09 (assays pending) extending mineralization along the Hilltop structure over a strike length of approximately 750 metres.
Hole iRH23-10 intersected a new zone of CRD type mineralization (assays pending) in the eastern extension of the Hilltop fault structure (see Figures 1 & 2 and Photo 1). The East Hilltop Zone is located approximately 200 m to the east, and along strike from, the Upper Hilltop Zone where 2022 drilling returned high-grade intercepts including 515.3 g/t Ag, 28.9 % Pb, 10.5 % Zn & 0.9 g/t Au over 28.3 m, 1.9 g/t Au, 631.3 g/t Ag, 7.4 % Zn & 33.0 % Pb over 18.3 m and 60.2 g/t Au, 908.7 g/t Ag, 1.1 % Zn & 15.7 % Pb over 10.0 m (see press releases dated August 30th, 2022 and November 14, 2022).
Figure 1 – Hilltop Fault Structure Drilling
see & read more on
https://www.i80gold.com/i-80-gold-provides-comprehensive-2023-exploration-development-update/ |
