i-80 Gold Expands High-Grade Gold Mineralization at Ruby Hill

Mining 19 dragunov Depositphotos 16487719 S 1 i-80 Gold Expands High-Grade Gold Mineralization at Ruby Hill

<br /> i-80 Gold Expands High-Grade Gold Mineralization at Ruby Hill<br />

Canada NewsWire


Results Include 9.0 g/t Au over

51.2 m

, 14.4 g/t Au over

14.2 m

& 11.0 g/t Au over

9.9 m



RENO, Nev.


,


Nov. 29, 2022


/CNW/ –

i-80 GOLD CORP.

(TSX: IAU) (NYSE: IAUX)

(“i-80”, or the “Company”)

is pleased to announce continued positive results from its ongoing drill program at the Company’s 100%-owned Ruby Hill Property (”

Ruby Hill

” or ”

the Property

“) located in

Eureka County, Nevada

.

Owing to the substantial success of the 2022 exploration campaign, including multiple new discoveries, the drilling program at Ruby Hill has again been increased and will be active until year-end with a focus on expanding the recent discovery of high-grade polymetallic mineralization in the Hilltop corridor.

New results from drilling at the Ruby Deeps deposit continue to expand mineralization further demonstrating excellent continuity of mineralization, impressive widths and grades, often in excess of 10 grams per ton gold (g/t Au), and favourable ground conditions. Hole iRH22-57 intersected

9.0 g/t Au over

51.2 m


, expanding mineralization in the Ruby Deeps

50 m

to the north of iRH21-05 that returned

7.1 g/t Au over

78.6 m


. Hole iRH22-29 intersected

13.3 g/t Au over

6.4 m

and 11.3 g/t Au over

5.8 m


, expanding mineralization to the south of iRH22-06 that intersected

19.8 g/t Au over

33.2 m


.  Mineralization remains open for expansion to the north and south (see Figures 1 & 2 and Table 1).

Highlight results from new drilling in the Ruby Deeps horizon:


  • iRH22-29: 13.3 g/t Au over

    6.4 m

    (0.39 oz/ton – 21.0 ft) and 11.3 g/t Au over

    5.8 m

    (0.33 oz/ton – 19.0 ft)

  • iRH22-32: 14.4 g/t Au over 14.



    2 m

    (0.42 oz/ton – 46.5 ft) and 12.2 g/t Au over

    8.1 m

    (0.36 oz/ton – 40.0 ft)

  • iRH22-56: 11.1 g/t Au over

    9.9 m

    (0.32 oz/ton – 32.5 ft) and 10.7 g/t Au over

    6.4 m

    (0.31 oz/ton – 21.0 ft)

  • iRH22-57: 9.0 g/t Au over

    51.2 m

    (0.


    26 oz/ton – 173.0 ft)

Ongoing drilling is focused on defining and expanding gold mineralization in the primary zones while also testing several high-potential targets on the Property including the recent Hilltop discovery. Step-out drilling in both the Upper and Lower Hilltop Zones continues to intersect sulphide mineralization (additional results pending), confirming substantial expansion potential and a recently completed geophysical survey has identified several nearby high-priority anomalies.  As a result, the 2022 drill program at Ruby Hill will continue with more than 40,000 metres expected to be completed by year-end.

Following the 2022 drill program, the Company will complete a revised resource estimate for the Ruby Deeps deposit prior to the completion of an economic study. Confirmatory drilling is also being completed in the Blackjack Zone with the goal of including it in the 2023 resource updates.

The Ruby Deeps deposit is comprised of the 426 Zone, the upper part of the deposit interpreted to consist of more vertical mineralization hosted within or proximal to the northeast striking 426 fault structure, and the deeper Ruby Deeps Zone, a flat-lying, north-south striking, sulphide zone located in the hanging wall of the Holly and 150 fault structures. Both zones remain open for expansion.

“Ruby Hill has truly outperformed expectation, demonstrating the property’s potential to host both a large

Carlin

-type gold deposit and also extremely high-grade polymetallic CRD mineralization”, stated

Tyler Hill

, Senior Geologist of i-80. “Apparent rock quality at the Ruby Deeps deposit appears more competent than at most other

Nevada

deposits of this type which bodes well for mining.”

The Ruby Hill Property is one of the Company’s primary assets and is host to the core infrastructure within the

Eureka

District of the Battle Mountain-Eureka Trend. The Property is host to multiple gold, gold-silver and polymetallic (base metal) deposits.

Holes not listed in Table 1 below were either previously released or drilled to test the Hilltop Zones, many of which will be part of a separate release. The 007 Zone is a new horizon of oxide mineralization located in close proximity to the 426 Zone. The Blue Sky drilling was testing a broad area located approximately 1 km to the north of the Archimedes pit – gold mineralization intersected in several holes provides a new target for drilling in 2023.


Table 1 – Highlight Assay Results from

Ruby Hill Drilling


New 2022 Drill Results from Ruby Hill – Estimated true widths 85-95%, NSI Denotes No Significant Intercept




Drillhole ID





Zone





Type




From


(m)



To


(m)



Length


(m)



Au


(g/t)




iRH21-21



Ruby Deeps


Core


555.3


561.4


6.1



7.7




and



Ruby Deeps


Core


630.0


633.1


3.0



7.1




iRH22-22



Blue Sky


Core




NSI





iRH22-23



Blue Sky


Core




NSI





iRH22-24



Blue Sky


Core




NSI





iRH22-26



Ruby Deeps


Core


458.1


469.1


11.0



8.3




iRH22-27A



Ruby Deeps


Core


605.1


608.1


3.0



7.9




and



Ruby Deeps


Core


692.0


696.2


4.1



7.7




iRH22-28



Ruby Deeps


Core


318.7


321.6


2.9



7.5




and



Ruby Deeps


Core


348.7


357.2


8.5



9.5




and



Ruby Deeps


Core


377.3


380.1


2.7



7.1




and



Ruby Deeps


Core


491.3


494.4


3.0



7.7




and



Ruby Deeps


Core


501.7


507.2


5.5



6.3




iRH22-29



Ruby Deeps


Core


300.8


307.2


6.4



13.3




and



Ruby Deeps


Core


352.3


358.1


5.8



11.3




iRH22-30



Blue Sky


Core


580.6


600.5


19.8



3.2




including



Blue Sky


Core


591.3


597.4


6.1



5.3




iRH22-31



Blue Sky


Core




NSI





iRH22-32



Ruby Deeps


Core


455.5


458.4


2.9



13.8




and



Ruby Deeps


Core


465.1


469.2


4.1



7.5




and



Ruby Deeps


Core


485.7


499.9


14.2



14.4




and



Ruby Deeps


Core


506.0


510.5


4.6



13.0




and



Ruby Deeps


Core


591.3


603.5


8.1



12.2




iRH22-33



007


Core




NSI





iRH22-34



007


Core


455.4


458.6


3.2



4.3




iRH22-35



007


Core


444.6


451.6


7.0



6.5




including



007


Core


448.7


451.6


2.9



11.0




and



007


Core


489.4


492.6


3.2



7.8




iRH22-36



Ruby Deeps


Core


496.1


496.8


0.8



10.8




and



Ruby Deeps


Core


524.7


530.4


5.6



5.8




iRH22-37



Blue Sky


Core




NSI





iRH22-46



007


Core




NSI





iRH22-47



007


Core




NSI





iRH22-56



Ruby Deeps


Core


600.5


608.1


7.6



8.2




and



Ruby Deeps


Core


624.9


634.8


9.9



11.1




and



Ruby Deeps


Core


675.4


681.8


6.4



10.7




iRH22-57



Ruby Deeps


Core


685.5


738.2


51.2



9.0


UTM


Drillhole ID


East m


North m


Elevation m


Azimuth


Dip



NAD83 Zone 11


iRH22-21


587394


4376094


1964


322


-79


iRH22-22


587938


4376070


1954


214


-59


iRH22-23


587193


4376659


1938


130


-87


iRH22-24


587741


4376837


1966


300


-85


iRH22-26


587060


4375985


1958


160


-78


iRH22-27A


587170


4376001


1965


180


-86


iRH22-28


587144


4375779


1836


250


-87


iRH22-29


587143


4375779


1833


180


-69


iRH22-30


587147


4375771


1833


140


-83


iRH22-31


587458


4376966


1969


330


-82


iRH22-32


587060


4375988


1958


158


-72


iRH22-33


587488


4376040


1966


035


-84


iRH22-34


587493


4376023


1966


020


-84


iRH22-35


587498


4376036


1966


190


-86


iRH22-36


587399


4376091


1965


070


-80


iRH22-37


587458


4376955


1970


180


-88


iRH22-46


587497


4376023


1966


086


-85


iRH22-47


587626


4376119


1969


205


-68


iRH22-56


587200


4376238


1984


120


-85


iRH22-57


587197


4376242


1984


200


-88


QAQC Procedures

All samples were submitted to either American Assay Laboratories (AAL) or ALS Minerals (ALS) both of

Sparks, NV

, which are ISO 9001 and 17025 certified and accredited laboratories, independent of the Company. Samples submitted through AAL and ALS are run through standard prep methods and analyzed using FA-Pb30-ICP (Au; 30g fire assay; AAL) and Au-AA23 (Au; 30g fire assay; ALS) and ME-ICP41 (35 element suite; 0.5g Aqua Regia/ICP-AES; ALS). AAL and ALS 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


Tyler Hill

, CPG-12146, Senior Geologist at i-80 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.


www.i80gold.com

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, the expansion or mineral resources at Ruby Hill and the potential of the Ruby Hill 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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