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 [4][5][19] Mineral Resource Update - The updated mineral resource estimate includes: - Indicated Mineral Resource: 594 kt at 4.51 g/t Au, 209.7 g/t Ag, 4.34% Pb, and 6.77% Zn, containing 86 koz Au, 4.0 Moz Ag, 57 Mlb Pb, and 89 Mlb Zn [5][6] - Inferred Mineral Resource: 2,736 kt at 5.07 g/t Au, 188.6 g/t Ag, 3.69% Pb, and 4.42% Zn, containing 446 koz Au, 16.6 Moz Ag, 223 Mlb Pb, and 267 Mlb Zn [5][6] - The total mineralized material at spot prices is approximately 7,360 kt, containing 895 koz Au, 31 Moz Ag, 408 Mlb Pb, and 680 Mlb Zn [17][18] Geological and Metallurgical Insights - The FAD deposit is characterized as a mid-Cretaceous gold-rich carbonate replacement deposit, primarily hosted by the Eldorado dolomite [27][28] - Preliminary metallurgical tests indicate the presence of critical metals such as gallium and indium in the zinc concentrate, with average grades of 126.0 g/t and 122.5 g/t, respectively [26][24] - The project has potential for additional drilling to further enhance resource estimates and validate historical data [4][5] Project Background and Acquisition - The FAD Project was acquired in 2023 through the purchase of Paycore Minerals Inc. for approximately US$88 million [5][19] - Historical exploration efforts have included significant drilling and development work, with the property consisting of 75 unpatented and 110 patented mining claims [22][20] Strategic Focus - The company is concentrating on advancing its five core gold projects and refurbishing the Lone Tree central processing facility, aiming to establish itself as a mid-tier gold producer in Nevada [4][31][35] - The FAD Project, while presenting significant upside potential, is not a primary focus and may be sold to support the company's broader strategic objectives [4][5]