- I-80 Gold (TSX:IAU) has yielded high-grade results from ongoing 2023 underground drilling on its Granite Creek property in Nevada
- Initial results include some of the best received to date in the South Pacific zone, as highlighted by 37.7 g/t Au over 7.6 metres
- I-80 Gold is a Nevada-focused mining company that holds one of the largest gold and silver resources in the United States
- The small-cap gold stock (TSX:IAU) is down by approximately 40 per cent year-over-year, but has lost about only 10 per cent since 2018
I-80 Gold (TSX:IAU) has yielded high-grade results from ongoing 2023 underground drilling on its Granite Creek property in Nevada.
Drilling is focused on delineating and expanding mineralization within the upper part of the South Pacific zone, as well as partially converting the deposit to measured and indicated resources.
South Pacific is north of the Ogee zone and the current mine workings, with the company expecting it to become the property’s primary mining zone once developed in 2024. Initial stope mining is slated for H1 2024 once mine workings are extended to facilitate access.
Initial results include some of the best received to date in the South Pacific zone, such as:
- GCPU23-19: 16.9 g/t Au over 5.7 metres
- GCPU23-20: 37.7 g/t Au over 7.6 m
- GCPU23-21: 19.2 g/t Au over 4.3 m
- GCPU23-22: 31.1 g/t Au over 21.9 m
- GCPU23-25: 27.3 g/t Au over 4 m
- GCPU23-26: 19.5 g/t Au over 4.1 m
- GCPU23-30: 28.7 g/t Au over 16.5 m and 11.9 g/t Au over 21.6 m
- GCPU23-31: 20.6 g/t Au over 6.1 m
- GCPU23-32: 15.4 g/t Au over 7.9 m and 31 g/t Au over 2.4 m
Concurrently, surface drilling is targeting the northern extension of the deposit, where drilling has also defined high-grade mineralization, including up to 15.5 g/t Au over 19.7 m in drill hole GS23-05.
The Granite Creek property resides near Nevada Gold Mines‘ Turquoise Ridge and Twin Creeks mines, which are part of the world’s largest gold-producing complex. Granite boasts high-grade mineralization in a near-identical geological setting as the multi-million-ounce Turquoise Ridge, including:
- Measured and indicated underground resources of 563 kt grading 10.45 g/t Au for 189 kozs
- Inferred underground resources of 1,521 kt grading 11.88 g/t Au for 581 kozs
- Measured and indicated open-pit resources of 20,467 kt grading 1.94 g/t Au for 1,275 kozs
- Inferred open-pit resources of 1,260 kt grading 1.60 g/t Au for 65 kozs
“Both surface and underground drilling in the South Pacific zone confirm impressive high-grade gold mineralization, including over substantial widths,” Tyler Hill, senior geologist at i-80 Gold, said in a statement. “It is expected to become the primary source of mineralization at Granite Creek beginning in mid-2024 and is comprised primarily of refractory mineralization that will be processed initially at Nevada Gold Mines’ Twin Creeks complex pursuant to our processing agreement. The South Pacific zone remains open along strike to the north and at depth, providing considerable upside.”
I-80 Gold is a Nevada-focused mining company that holds one of the largest gold and silver resources in the United States.
The small-cap gold stock (TSX:IAU) was up by more than 8 per cent on the news, trading at C$2.29 per share. The stock is down by approximately 40 per cent year-over-year, but has lost only about 10 per cent since 2018.
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