High Grade Mineralization Confirmed From Underground Drilling At Cove

High Grade Mineralization Confirmed From Underground Drilling At Cove

RENO, NV – i-80 Gold Corp. reported on continued positive results from ongoing underground drilling at the McCoy-Cove Property (Cove) located in Lander County, Nevada.

The new results are from drilling completed in 2023 designed to define the Helen Zone, the first horizon expected to be accessed at the Cove Mine. The program continues to confirm high-grade mineralization over appreciable thickness, with several holes intersecting multiple lenses in the western-most extremity of the deposit. Helen Zone results compare favourably with initial results from the Gap Zone where previously released results included intercepts of up to 12.9 g/t Au over 36.1 m in hole iCHU23-04, 14.9 g/t Au over 32.7 m in hole iCHU23-10, 18.9 g/t Au over 29.3 m in hole iCHU23-11, and 7.0 g/t Au over 119.6 m in hole iCHU23-14 (including four higher-grade zones of gold mineralization of up to 10.6 g/t Au over 38.3 m).

Highlight new results from the 2023 drilling program at McCoy-Cove – Helen Zone include: iCHU23-33: 14.4 g/t Au over 20.2 m, and 13.3 g/t Au over 3.7 m; iCHU23-34: 12.7 g/t Au over 24.4 m; iCHU23-35: 10.1 g/t Au over 7.9 m, and 14.3 g/t Au over 8.0 m; iCHU23-36: 9.7 g/t Au over 9.6 m, and 33.9 g/t Au over 2.8 m.

“Deposits with continuous high-grade gold mineralization over substantial widths like those at Cove are rare.”, stated Tyler Hill, Chief Geologist. “Our ongoing program continues to confirm that Cove is one of the highest-grade, development-stage, projects in North America. Mineralization remains open for expansion and significant exploration targets exist on the large land package.”

The McCoy-Cove Property 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 recently completed a 40-day pump test for the completion of a final hydrological model and full mine permitting.

The program being completed will consist of approximately 120 holes comprising more than 40,000 m of drilling on approximate 30 metre spacing 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 zones are not being drilled as part of this program, but offer a significant upside opportunity.