December 4, 2023

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I-80 Gold McCoy Cove |  Mining cycle

I-80 Gold McCoy Cove | Mining cycle

The company completes a 40-day pumping test to complete the final hydrological model and final mining permits.

i-80 Gold has announced positive results from ongoing underground drilling at its McCoy-Cove facility located in Lander County, Nevada, USA.

New results come from induction drilling in the CSD/Gap zone and preliminary drilling in the Helen zone that continue to confirm the continuity of high-grade mineralization in both horizons.

Drilling is underway to define the Helen Zone, confirming high-grade mineralization over wide areas with intersections of up to 25.4 g/t gold over 20.1 metres. The initial holes were designed to define the western edge of the deposit before moving east towards the core of the deposit.

i-80 Gold noted that the initial results were very positive, similar to those found in the initial drilling of the Gap area, with previously published results including intercepts of up to 7.0 g/t Au at 119.6 meters in the iRH23-14 well, which included four… Higher grade areas. Gold mineralization of up to 10.6 g/t gold at a depth of 38.3 metres.

New highlights from the 2023 drilling program at Cove include:

CSD area/gap

  • iCHU23-19: 15.7 g/t Au and 16.8 g/t Ag over 4.5 metres.
  • iCHU23-20: 7.6 g/t Au and 2.0 g/t Ag over 12.2 metres.
  • iCHU23-22: 21.8 g/t Au and 4.8 g/t Ag over 10.3 metres.

Helena area

  • iCHU23-23: 28.0 g/t Au and 5.1 g/t Ag over 10.4 M

and 21.0 g/t Au and 7.4 g/t Ag at 10.8 m

  • iCHU23-24: 18.0 g/t Au and 9.4 g/t Ag over 4.6 metres.
  • iCHU23-25: 11.1 g/t Au and 14.4 g/t Ag over 3.7 metres.
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and 7.8 g/t Au and 3.7 g/t Ag at 6.7 m

and 15.4 g/t Au and 3.3 g/t Ag in 1.6 metres

  • iCHU23-26: 8.4 g/t Au and 2.7 g/t Ag over 9.1 M
  • iCHU23-28: 25.4 g/t Au and 5.1 g/t Ag over 20.1 metres.

and 8.8 g/t Au and 2.4 g/t Ag at 8.5 m

“The results continue to confirm that the Cove deposit is one of the highest quality gold deposits in North America,” said Euan Downey, CEO of i-80 Gold.

These results, when combined with previously published results, highlight Cove as a Tier 1 Nevada deposit, Dowie added. Mining remains open to expansion and there are significant exploration targets on the large land package.

To date, 40 holes have been completed (28 with results published) of approximately 120 planned holes which will include more than 40,000 meters in cores approximately 30 meters deep ahead of an updated resource estimate and economic study.

This program focuses on the CSD Gap and Helen Zone portions of the deposit, while sub-hole mineralization at Cove South Deep and the 2201 deposit is not being drilled as part of this program.