i-80 GOLD (TSX: IAU / NYSE: IAUX)
Announced high-grade results from the 2023 drill program completed at the FAD deposit situated on the Company’s 100%-owned Ruby Hill Property,Eureka County, Nevada, including 9.0 G/T AU, 92.4 G/T AG, 12.2 % ZN & 1.0 % PB over 14.6 M.
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i-80 Gold Ruby Hill Mine, Nevada, USA
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| I-80 Gold Corp. | TSX: IAU |
| Stage | Development + Exploration |
| Metals | Gold + polymetallic |
| Market cap | C$575 million @ C$1.97 |
| Location | Nevada, USA |
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I-80 GOLD REPORTS HIGH-GRADE DRILL RESULTS FROM THE FAD DEPOSIT AT RUBY HILL
9.0 G/T AU, 92.4 G/T AG, 12.2 % ZN & 1.0 % PB OVER 14.6 M
3.9 G/T AU, 185.6 G/T AG, 11.1 % ZN, & 3.6% PB OVER 25.4 M
Reno, Nevada, January 25, 2024 – i-80 GOLD CORP. (TSX:IAU) (NYSE:IAUX) (“i-80”, or the “Company”) is pleased to announce high-grade results from the 2023 drill program completed at the FAD deposit situated on the Company’s 100%-owned Ruby Hill Property (“Ruby Hill” or “the Property”) located in Eureka County, Nevada.
FAD is one of several polymetallic deposits drilled at Ruby Hill in 2023 for the completion of initial resource estimates for the FAD, Blackjack and Hilltop deposits.
The Ruby Hill Property represents the core land package within the Eureka District of Nevada, one of the world’s premier re-emerging Carbonate Replacement Deposit (CRD) districts. FAD is a high-grade polymetallic deposit and is expected to add to the Company’s already impressive resource base.
New results have intersected multiple stacked zones of mineralization in the southeast portion of the deposit.
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Highlight drill results from 2023 drilling at FAD:
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PC23-12 – infill hole in the east FAD lobe 50 m northwest of PC23-28 (5 zones)
- 4.4 g/t Au, 91.3 g/t Ag, 8.4% Zn & 0.3% Pb over 1.6 m
- 4.9 g/t Au, 50.2 g/t Ag, 9.0% Zn & 0.2% Pb over 4.5 m
- 6.2 g/t Au, 57.1 g/t Ag, 6.9% Zn & 0.1% Pb over 5.0 m
- 6.0 g/t Au, 35.5 g/t Ag, 5.8% Zn & 0.2% Pb over 8.5 m
- 3.1 g/t Au, 48.8 g/t Ag, 2.1% Zn & 1.3% Pb over 3.8 m
The Eureka District has a long and successful history of mining, extending over a period of one hundred sixty years (1864-Present) including some of the world’s highest-grade CRD mines.
From 1866 until 1967 the Ruby Hill district produced an estimated 2 Mt of ore containing approximately 1.65 Moz Au, 39 Moz Ag, and 625M lbs of lead. It is estimated 80% to 90% of this production came from the original Ruby Hill Mine, located 500 metres southwest of the FAD deposit.
The FAD deposit Is located in the hanging-wall of the Ruby Hill fault and is comprised of dominantly sulfide, polymetallic mineralization.
Drilling completed in 2022 and 2023 has successfully intersected multiple horizons of mineralization that remain open for expansion. Results compliment previously released holes drilled by Paycore that include:
- 7.8 g/t Au, 155.5 g/t Ag, 22.0% Zn & 1.5% Pb over 12.5 m (PC22-07)
- 7.1 g/t Au, 376.3 g/t Ag, 6.3% Zn & 10.3% Pb over 14.8 m (PC22-08A)
- 8.0 g/t Au, 79.1 g/t Ag, 10.2% Zn & 1.0% Pb over 27.4 m (PC22-10)
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In addition to the deeper sulfide mineralization at FAD, drilling tested proximal to the historic Ruby Hill Mine. These holes intersected low-grade oxide mineralization suggesting the potential to delineate near-surface mineralization proximal to historic workings that may be amenable to open pit mining.
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Tyler Hill, Chief Geologist of i-80 Gold stated,
“The drill program at FAD compliments successful programs on the Blackjack and Hilltop deposits and our expanded focus on exploring for polymetallic mineralization in the Eureka District to better assess the economic opportunity.
“FAD is unusual in comparison to global CRD deposits given its elevated gold grades.”
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The FAD deposit is located within the “Hilltop Corridor” approximately 2 km south of the Hilltop discovery made by i-80 in mid-2022. Multiple drill rigs were active in 2023, aggressively defining and expanding mineralization at Hilltop, now having identified a series of high-grade CRD zones located on the south side of the Archimedes pit.
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To read the full news release, please click HERE
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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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Disclosure
At the time of writing the author holds shares in i-80 Gold.
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