- i-80 Gold (IAU) discovered a new zone of high-grade gold at its Ruby Hill Property in Nevada
- This high-grade gold was intersected in the first drill hole that tested the continuity of a historic intercept below the known Archimedes pit
- The hole is in 428 Zone which is roughly 300 metres east of the southern part of the Ruby Deeps Zone
- 23 drill holes from the 2022 Ruby Hill drill program remain outstanding
- i-80 Gold (IAU) is down 0.57 per cent, trading at C$3.50 per share at 3:54 p.m. EST
i-80 Gold (IAU) discovered a new zone of high-grade gold mineralization at its Ruby Hill Property in Nevada.
According to the company, the gold was intersected in the first drill hole which tested a historic intercept below the Archimedes pit. The historic intercept returned 15.0 grams of gold over 5.5 metres. However, no follow-up drilling was done in this area.
The hole is in 428 Zone which is roughly 300 metres east of the southern part of the Ruby Deeps Zone. The 2022 drilling on 428 found multiple gold, polymetallic, and base metal discoveries.
The 428 Zone mineralization is hosted within the top of the Hamburg dolomite within proximity to the Blanchard fault. Moreover, this fault structure was one of the primary feeder structures of the multiple mineralized zones mined in the pit.
Additionally, the Hamburg dolomite represents a new host of Carlin-type mineralization on the property. Follow-up drilling will be completed during the company’s ongoing 2023 exploration program.
Lastly, assays for 23 drill holes from the 2022 Ruby Hill drill program remain outstanding.
i-80 Gold (IAU) is down 0.57 per cent, trading at C$3.50 per share at 3:54 p.m. EST.