i-80 Gold reports high-grade gold from underground drilling at Cove, Nevada

i-80 Gold Corp. [TSX-IAU; NYSE-IAUX] reported high-grade results from the ongoing 2024 underground drilling program at the Company’s 100%-owned McCoy-Cove Property located in Lander County, Nevada.

The ongoing program continues to intersect high-grade zones of mineralization in the multiple horizons that make up the Cove deposit. The new results from the Helen and CSD Gap Zones compliment previously released intercepts from the 2023 program 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.

Highlight new results from drilling at Cove include iCHU24-01: 48.3 g/t Au over 3.0 m (Lower Helen Zone) and 15.8 g/t Au over 15.8 m (Lower Helen Zone).

iCHU24-04: 14.3 g/t Au over 13.5 m (Lower Helen Zone). iCHU24-08: 15.1 g/t Au over 7.4 m (Lower Helen Zone) and 22.6 g/t Au over 7.1 m (Lower Helen Zone).

iCHU24-12: 7.8 g/t Au over 28.7 m (Lower Helen Zone). iCHU24-14:  13.7 g/t Au over 7.2 m (Lower Helen Zone) and 10.4 g/t Au over 38.8 m (Lower Helen Zone) and 11.0 g/t Au over 20.6 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 Property. Cove is one of three deposits being advanced in the company’s “hub and spoke” plan, with Lone Tree as a central processing facility, to achieve its goal of building one of the largest gold producers in the United States.

“Definition drilling continues to return high-grade mineralization over impressive widths that make Cove an anchor project in the company’s future growth plans,” stated Ewan Downie, CEO. “Our delineation program has consistently returned results that place Cove amongst the highest–grade, development-stage, gold deposits in North America.”

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 2014, 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 1.9 g/t Au and 239.8 g/t Ag over 7.7 metres proximal to an interpreted large untested structural trend that represents a major future exploration target. Additionally, the company is completing a review of the potential for oxide open pit mineralization proximal to the historic McCoy mine located to the south of Cove.

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.