Reno - i-80 GOLD CORP. (TSX: IAU) (NYSE: IAUX) ('i-80', or the 'Company') is pleased to announce that initial drilling to test the 426 Zone, part of the Ruby Deeps deposit, has intersected multiple zones of high-grade mineralization at the Company's 100%-owned Ruby Hill Property ('Ruby Hill' or 'the Property') located in Eureka County, Nevada
The ongoing infill and step-out drill program will aide in the advancement of the Company's plan to develop an underground mine at Ruby Hill, accessed via ramp from the Archimedes open pit. Following the 2022 program, an updated mineral resource estimate is planned for the completion of an economic study. The current program at Ruby Hill is one of several ongoing and anticipated drill programs on i-80 projects in 2022 that are collectively budgeted to comprise more than 50,000 metres. It is expected that refractory mineralization from the planned underground operation at Ruby Hill will be trucked to the Company's Lone Tree facility, once operational, and oxide mineralization can be processed on-site at the existing heap leach pad, or at the existing CIL plant, once refurbished. i-80's substantial existing infrastructure at Lone Tree and Ruby Hill is expected to reduce potential exposure to the current inflationary environment. 'The grades of mineralization at Ruby Hill continue to impress as we define one of the premier Carlin-type, gold deposits in Nevada', stated Ewan Downie, CEO of i-80. 'We have a CIL plant at Ruby Hill that could factor into our future processing plans given that we are intersecting appreciable oxidized mineralization in the 426 Zone. Additionally, significant alteration and mineralization has been observed in multiple conceptual exploration targets that have been tested to-date that also include oxidized mineralization.'
About i-80 Gold Corp.
i-80 Gold Corp. is a well-financed, 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 facility that includes an autoclave
Certain statements in this release constitute 'forward-looking statements' or 'forward-looking information' within the meaning of applicable securities laws, including but not limited to, the expansion or mineral resources at Ruby Hill and the potential of the Ruby Hill project. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as 'may', 'would', 'could', 'will', 'intend', 'expect', 'believe', 'plan', 'anticipate', 'estimate', 'scheduled', 'forecast', 'predict' and other similar terminology, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. These statements reflect the Company's current expectations regarding future events, performance and results and speak only as of the date of this release.
Forward-looking statements and information involve significant risks and uncertainties, should not be read as guarantees of future performance or results and will not necessarily be accurate indicators of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements or information, including, but not limited to: material adverse changes, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts with the company to perform as agreed; social or labour unrest; changes in commodity prices and the failure of exploration programs or studies to deliver anticipated results or results that would justify and support continued exploration, studies, development or operations