i-80 Gold posts high-grade gold assays from underground drilling at Cove Project, Nevada

i-80 GOLD CORP. [TSX-IAU; NYSE-IAUX] reported additional results from 2023 drilling in the Helen Zone that continues to realize significant high-grade results from the underground drilling program at the 100%-owned McCoy-Cove property, Lander County, Nevada.

The new results are from the 2023 underground drilling program to define the Helen Zone, the first horizon expected to be accessed at the Cove Mine. The most recently received results from the Helen Zone compliment recently released intercepts that returned up to 22.6 g/t gold over 19.1 metres in hole iCHU23-37, 32.9 g/t Au over 14.9 m in hole iCHU23-38 and 23.5 g/t Au over 12.8 m in hole iCHU23-39. Three of the new holes were drilled to only intersect the Upper Helen mineralized horizon that typically contains thinner mineralized zones when compared to the Lower Helen. A complete summary of new results is provided in Table 1.

Highlight new results from drilling at McCoy-Cove include drill hole iCHU23-40 that returned 11.5 g/t Au over 3.7 m (Upper Helen Zone). iCHU23-41 returned 37.2 g/t Au over 3.7 m (Upper Helen Zone). iCHU23-42 returned 29.6 g/t Au over 7.2 m (Lower Helen Zone). iCHU23-43 returned 9.2 g/t Au over 5.3 m (Upper Helen Zone) and 12.3 g/t Au over 6.6 m (Lower Helen Zone) and 18.7 g/t Au over 8.3 m (Lower Helen Zone).

The McCoy-Cove property is strategically located in heart of the prolific Battle Mountain Trend immediately south of Nevada Gold Mines’ Phoenix Mine and the company’s Lone Tree processing facility.  Cove is one of three deposits being advanced to realize the Company’s goal of building one of the largest producers in the United States.

“Results received to-date continue to confirm that Cove is one of the highest-grade, development-stage, gold deposits in North America,” stated Tyler Hill, Chief Geologist. “New results continue to return significant high-grade gold mineralization, consistently in excess of 10 g/t gold.”

The McCoy-Cove property comprises a large package of approximately 13,000 hectares covering an area roughly 15 km by 10 km that offers substantial exploration upside as the bulk of work completed to-date has been focused on the main deposit areas.

Earlier exploration, mostly completed in 20214, resulted in several new discoveries that have received little to no follow-up including polymetallic mineralization in the 2201 and Davenport targets. One of the primary future targets at McCoy-Cove is the pediment area to the east of the Cove deposit where only two holes have drilled to a sufficient depth to intersect the favourable Favret limestone unit.  Both holes intersected broad zones of Carlin-type alteration with assays of up to 1.7 g/t gold and 364 g/t silver over 11.4 metres proximal to an interpreted large untested structural trend that represents a major future exploration target.