Intersections From Step-Out Drilling At Granite Creek

RENO, NV - i-80 Gold Corporation reported that exploration drilling at the Granite Creek Property, in Humboldt County, Nevada continues to provide impressive results in step-out drilling completed at multiple gold horizons. The primary target of surface drilling is the South Pacific Zone where high-grade mineralization is being defined at depth below, and to the north of, the mine workings at Granite Creek (see press releases dated November 16, 2021, and February 2, 2022). This release provides results from additional targets being tested on the Property, including expansion drilling at depth below the Ogee Zone and assessing the down–dip potential of mineralization contained within the Mag Zone (open pit). This drilling is part of the expanded 30,000 meter drill program from both surface and underground. Surface drill hole iGS21-15 is the first hole to test the Ogee Zone at depth and represents one of the deepest holes drilled to-date at this target. Holes iGS21-02, 13 & 14 were designed to test the potential for sulphide mineralization below the proposed Mag open pit.

The Ogee Zone represents one of the primary zones currently being developed for underground mining and was partially mined in 2012 and 2013. Drilling from surface and underground is designed to elevate resources to reserves. Hole iGS21-15 is the first hole drilled to test the Ogee Zone, represents the deepest hole drilled into this target in the ongoing drill program, and intersected one of the widest intervals of mineralization, 7.4 g/t Au across 73.2 m, approximately 200 meters below the bottom Level of the mine.  Higher grade intercepts within the broader interval include 13.3 g/t Au across 13.1 m, 20.3 g/t Au across 7.5 m, and 10.1 g/t Au across 17.5 m.

This intercept continues to confirm the significant upside opportunity at Granite Creek and step-out drilling is being completed to expand mineralization along strike and at depth where the deposit remains open.  The Ogee Zone is located immediately south of the South Pacific Zone ("SPZ") that has been upgraded to the primary target of the 2022 program and where recent drilling has returned numerous high-grade intercepts including 25.5 g/t Au across 5.5 m, 16.3 g/t Au across 7.1 m and 11.0 g/t Au across 9.1 m. The Ogee Zone is hosted with the Lower Comus Formation rock unit along the east striking and steeply dipping CX West fault zone.  

“Hole iGS21-15 was drilled to test with core, the down-dip extension of the Ogee Zone where a reverse circulation hole drilled by Barrick in the early 2000's reported high-grade mineralization over an appreciable width", said, Tyler Hill, Senior Geologist.  "The core hole has confirmed a broad zone of high-grade mineralization and could represent an area of converging faults at depth with substantially increased widths.  This could have significant implications on the upside opportunity at Granite Creek."

The Mag Zone is one of the primary zones in the Company's planned open pit development program at Granite Creek that is in the process of being permitted.  With the recent acquisition of the Lone Tree processing facility, future work will also consider expanding the open pit zones at depth to access deeper sulphide mineralization. Three holes were drilled in 2021 to test mineralization below the Mag pit, all intersecting significant intervals of gold mineralization including 3.4 g/t Au across 12.6 m and 3.4 g/t Au across 16.8 m. Mineralization associated with the mag fault remains wide open for expansion at depth and could be considered as an opportunity to expand the mag pit or consider a decline from the bottom of the pit to access higher-grade areas. The Mag Zone is hosted within the Upper Comus Formation rock unit in the footwall of the northwest striking and northeast dipping Mag fault.