i-80 Gold Announces High-Grade Mineral Resource Estimate for the FAD Project and Confirms Near-Surface Oxide Mineralization

Core Insights - i-80 Gold Corp. announced a mineral resource update for its FAD Project, confirming high-grade mineralization of gold, silver, lead, and zinc [1][4][5] - The FAD Project is located in a prolific mining area in northeastern Nevada and is considered a non-core asset, potentially available for sale to support the company's recapitalization objectives [1][4][5] Mineral Resource Update - The updated mineral resource estimate includes an Indicated Mineral Resource of 594,000 tonnes at grades of 4.51 g/t Au, 209.7 g/t Ag, 4.34% Pb, and 6.77% Zn, containing approximately 86,000 ounces of gold and 4.0 million ounces of silver [5][6] - An Inferred Mineral Resource of 2,736,000 tonnes at grades of 5.07 g/t Au, 188.6 g/t Ag, 3.69% Pb, and 4.42% Zn, containing approximately 446,000 ounces of gold and 16.6 million ounces of silver was also reported [5][6] - The total mineralized material at spot prices is approximately 7,360,000 tonnes, containing 895,000 ounces of gold and 31 million ounces of silver [5][17] Project Potential - The FAD Project has significant upside potential due to its high-grade nature and remains open at depth, with additional drilling expected to enhance resource estimates [4][5] - The project is situated in a tier-one mining jurisdiction, which could provide substantial exposure to high-grade polymetallic mineralization [4][5] Historical Context - The FAD Project was acquired in 2023 through the purchase of Paycore Minerals Inc. for approximately US$88 million [5][19] - Historical exploration has been conducted on the property since the mid-20th century, with significant work completed by Hecla Mining Company [20][21] Metallurgical Testing - Preliminary metallurgical tests indicate the presence of critical metals such as gallium, indium, antimony, and tin in the zinc concentrate, enhancing the project's value [5][26] - The average net smelter returns are approximately $430 per tonne for the indicated resource and $442 per tonne for the inferred resource [5][6] Company Strategy - The company is focused on advancing its portfolio of five core gold projects and refurbishing the Lone Tree central processing facility to establish itself as a mid-tier gold producer [4][5][35] - The FAD Project, while non-core, presents an opportunity for monetization through potential sales or further development [4][5]