i-80 Gold Corp. [TSX-IAU; NYSE-IAUX] reported positive results from continuing underground drilling at the s 100%-owned McCoy-Cove property located in Lander County, Nevada. The new results are from definition drilling in the CSD/Gap zone and initial drilling in the Helen zone that continue to confirm continuity of high-grade mineralization in both horizons.
Drilling is now underway to define the Helen Zone, confirming high-grade mineralization over appreciable widths with intercepts up to 25.4 g/t gold over 20.1 metres. The initial holes are designed to define the western-most extremity of the deposit prior to proceeding east into the heart of the deposit. Initial results have been extremely positive, similar to what was encountered in the initial drilling of the Gap Zone, where previously released results include intercepts of up to 7.0 g/t gold over 119.6 metres in hole iRH23-14 that included four higher-grade zones of gold mineralization of up to 10.6 g/t gold over 38.3 metres. This release also includes results from drilling in the northwest extremity of the CSD/Gap Zone.
Highlight new results from 2023 drilling program at Cove include the CSD/Gap Zone where iCHU23-19 returned 15.7 g/t Au & 16.8 g/t Ag over 4.5 metres; iCHU23-20 with 7.6 g/t Au & 2.0 g/t Ag over 12.2 m; iCHU23-22 with 21.8 g/t Au & 4.8 g/t Ag over 10.3 m.
Helen Zone: iCHU23-23 returned 28.0 g/t Au & 5.1 g/t Ag over 10.4 m and 21.0 g/t Au & 7.4 g/t Ag over 10.8 m. iCHU23-24 returned 18.0 g/t Au & 9.4 g/t Ag over 4.6 m. iCHU23-25 returned 11.1 g/t Au & 14.4 g/t Ag over 3.7 m and 7.8 g/t Au & 3.7 g/t Ag over 6.7 m and 15.4 g/t Au & 3.3 g/t Ag over 1.6 m.
iCHU23-26 returned 8.4 g/t Au & 2.7 g/t Ag over 9.1 m. iCHU23-28 returned 25.4 g/t Au & 5.1 g/t Ag over 20.1 m; and and 8.8 g/t Au & 2.4 g/t Ag over 8.5 m.
“Results continue to confirm that the Cove deposit is one of North America’s highest-grade gold deposits,” stated Ewan Downie, CEO of i-80 Gold. “These results, when combined with previously released results, highlight Cove as a Tier 1 Nevada deposit. Mineralization remains open for expansion and significant exploration targets exist on the large land package.”
To date, 40 holes have been completed (28 with results released) out of approximately 120 holes planned that will comprise more than 40,000 metres on approximate 30-metre centres in advance of an updated resource estimate and economic study. This program is focused on the CSD Gap and Helen Zone portions of the deposit while mineralization below the pit in the Cove South Deep and 2201 deposits is not being drilled as part of this program.
Cove is one of three projects currently being advanced to realize the company’s goal of becoming one of the largest producers in Nevada. In addition to the underground drill program at Cove, the company is completing a 40-day pump test for the completion of a final hydrological model for the Property and final mine permitting.
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.