i-80 Gold drills 12.9 g/t gold over 36.1 metres at McCoy-Cove, Nevada

i-80 Gold Corp. [IAU-TSX; IAUX-NYSE] reported positive initial results from underground drilling at the company’s 100%-owned McCoy-Cove property located in Lander County, Nevada. The approximately 40,000-metre drill program is primarily designed to provide additional delineation to upgrade resources in the Helen and CSD gap zones in advance of completing an updated resource estimate and a full feasibility study.

Highlight results from initial 2023 drilling at Cove include 6.6 g/t gold over six metres (iCHU23-01); 13.2 g/t gold over three metres and 10.3 g/t gold over 7.8 metres (iCHU23-02); 13 g/t gold over six metres (iCHU23-03); and 12.9 g/t gold over 36.1 metres (iCHU23-04).

“Having not drilled the Cove deposit since 2018 as mine permitting was being advanced, many may have forgotten that it is one of the highest-quality deposits within i-80’s portfolio,” stated Ewan Downie, CEO. “Our early results in the CSD gap zone confirm high-grade mineralization that makes Cove one of the highest-grade development-stage gold deposits in North America.”

Cove is one of three projects currently being advanced to realize the company’s goal of becoming the second-largest gold producer in Nevada. In addition to the continuing underground drill program, that is expected to comprise approximately 40,000 metres of drilling, the continuing exploration and development program will also include hydrological and metallurgical test work in advance of completing a feasibility study following the underground definition drill program.

The continuing infill and step-out drill program will aide in the advancement of the company’s plan to develop an underground mine at Cove utilizing the current ramp with material anticipated to be trucked to the company’s Lone Tree facility, once operational, for processing in addition to Nevada Gold Mines pursuant to the processing agreement between the two companies. Following the underground drill program, i-80 plans to complete an updated mineral resource estimate and a feasibility study.

Cove is one of the company’s primary assets and is host to indicated resoutrces of 1,007,000 tonnes grading 10.9 g/t gold and 29.1 g/t silver and inferred resources of 3,867,000 tonnes of 10.9 g/t gold and 20.6 g/t silver.

i-80 Gold is a 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 with processing at i-80’s centralized milling facilities.