i-80 Gold Corp. (TSX:IAU, OTCQX:IAUCF) has announced continued positive assay results from the ongoing underground drill program at its Granite Creek Property in Nevada’s Humboldt County.
The Nevada-focused mining company told investors the new high-grade results are from drilling from the 4790 Level targeting mineralization in the Range Front, Adam Peak, and Otto fault horizons, the first area being targeted for mining and located proximal to and below existing mine workings.
Multiple target areas are being drilled from underground including testing the down-dip potential of the Otto, Adam Peak and Ogee Zones. The deepest hole drilled to test the extension at depth of the main mine horizons in the ongoing program, iGS21-15, intersected high-grade gold mineralization in multiple horizons including 13.3 grams per tonne (g/t) gold over 13.1 metres (m), 20.3 g/t gold over 7.5m and 10.1 g/t over 17.5m, with true width being 33%-55% of intercepts.
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"These results continue to delineate high-grade mineralization in multiple zones being defined in advance of mining at Granite Creek,” the company’s senior geologist Tyler Hill said in a statement. “We have added additional underground infrastructure in order to commence stepping out at depth where we continue to see high-grade intercepts including 7.4 g/t gold across 73.2m in iGS21-15. We also remain primarily focused on defining the new South Pacific Zone where we are seeing strong alteration and faulting in most holes drilled to-date."
Highlight results from initial underground drilling from Level 4790 include:
- 25.4 g/t gold over 3.9m in hole iGU21-27
- 12.6 g/t gold over 3m in hole iGU21-28
- 10.8 g/t gold over 1.2m in hole iGU21-29
- 13.4 g/t gold over 1.1m in hole iGU21-30
- 14.7 g/t gold over 1.5m, 10.2 g/t gold over 3.5m and 7.5 g/t gold over 6.1m in hole iGU21-31
- 19.3 g/t gold over 1.1m, 8 g/t gold over 3m and 9.4 g/t gold over 2.9m in hole iGU21-32
i-80 Gold said the current program is expected to comprise more than 30,000m from surface and underground with continued assay results to be provided as received.
The primary goal of the 2022 drill program is to advance underground opportunities to production with refractory mineralization from the underground operation at Granite Creek initially trucked to Twin Creeks for processing, under the agreement recently entered into with Nevada Gold Mines, until its Lone Tree facility is operational, the company added.
Owing to the success of the ongoing drilling in expanding mineralization, i-80 gold said the program has been increased to 30,000 metres in 2022.
In addition to the underground program at Granite Creek, it continues to advance permitting for open pit mine on the property including heap leach processing on-site.
i-80 Gold Corp is a well-financed, Nevada-focused, mining company with a goal of achieving mid-tier gold producer status. The firm’s portfolio now has five projects — Lone Tree, Brooks/Buffalo Mountain, Granite Creek, McCoy-Cove, and Ruby Hill. Lone Tree will act as the hub of i-80’s operation, providing integrated processing infrastructure for all types of ore.
Contact the author at stephen.gunnion@proactiveinvestors.com