i-80 GOLD CORP. (TSX: IAU)
Announced that drilling has identified new zone of high-grade gold mineralization in its first hole drilled to test a new target area at the Company’s 100%-owned Ruby Hill Property located in Eureka County, Nevada.
The glory hole was an intercept of 12.3 g/t over 10.7 m.
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I-80 Gold Corp. | TSX: IAU |
Stage | Development + Exploration |
Metals | Gold + polymetallic |
Market cap | C$848 million @ C$3.53 |
Location | Nevada, USA |
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I-80 GOLD INTERSECTS 12.3 G/T AU OVER 10.7 M IN NEW TARGET AT RUBY HILL
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Reno, Nevada, February 8, 2022 – i-80 GOLD CORP. (TSX: IAU) (NYSE:IAUX) (“i-80”, or the “Company”) is pleased to announce that drilling has identified new zone of high-grade gold mineralization in its first hole drilled to test a new target area at the Company’s 100%-owned Ruby Hill Property (“Ruby Hill” or “the Property”) located in Eureka County, Nevada.
High-grade gold mineralization was intersected in the first hole drilled to test continuity of a historic intercept below the Archimedes pit.
A historic hole (HC1428) drilled by Homestake Mining Company intersected 15.0 g/t Au over 5.5 m, however no additional drilling was ever completed. Late in the 2022 drill program, this target was tested with a step-out hole, iRH22-65, that intersected high-grade mineralization at the projected target depth.
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Highlight results from hole iRH22-65 drilled to test the 428 Zone:
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- 428 Zone : 12.3 g/t Au over 10.7 m (0.36 oz/ton – 35.0 ft)
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The 428 Zone is located approximately 300 metres east of the southern portion of the Ruby Deeps Zone and is one of several brownfields exploration targets tested in the highly successful 2022 exploration program at Ruby Hill.
This program resulted in multiple gold, polymetallic and base metal discoveries including the Hilltop Zones where drilling has returned significant high-grade carbonate replacement mineralization (CRD) including 515.3 g/t Ag, 28.9 % Pb, 10.5 % Zn & 0.9 g/t Au over 28.3 m in hole iRH22-43 (Upper Hilltop).
The 428 Zone is located below the Archimedes pit and appears to be a combination of distal-disseminated gold mineralization overprinted by later Carlin-type gold mineralization.
The mineralization is hosted within the top of the Hamburg dolomite at the contact with overlying metamorphosed Dunderberg Shale with close proximity to the Blanchard fault. The Blanchard fault structure was one of the primary feeder structures of the multiple mineralized zones mined in the pit.
No other holes have tested this contact in proximity to the Blanchard fault presenting a significant upside target at Ruby Hill. Additionally, the Hamburg dolomite represents a new host of Carlin-type mineralization on the Property and follow-up drilling will be completed during the ongoing 2023 exploration program.
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Tyler Hill, Senior Geologist of i-80 Gold stated;
“Our multiple discoveries made in 2022 highlight the potential of the mineralized system at Ruby Hill and confirm our model for the occurrence of multiple types of world-class, high-grade, deposits.
“Drilling is currently focused on expanding mineralization within the Hilltop Zones and the Blackjack horizon, both of which are located in close proximity to the underground infrastructure currently being planned and permitted”.
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23 drill holes from the 2022 Ruby Hill drill program remain outstanding at assay labs and the Company expects to be in a position to provide an update from this drilling within a few weeks.
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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 Corp.
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