- i-80 Gold Corp. (IAU) has intersected multiple zones of high-grade mineralization at the Ruby Hill Property
- Seven holes have been reported with 12 intercepts of average to high-grade gold found
- Significant alteration and mineralization have been reported in several additional targets
- The ongoing infill and step-out drill program will advance its plan to develop an underground mine at Ruby Hill
- i-80 Gold Corp. (IAU) is up 2.70 per cent trading at $2.66 per share as of 3:09 p.m. ET
i-80 Gold Corp. (IAU) has intersected multiple zones of high-grade mineralization at the Ruby Hill Property in Nevada.
The mineralization was encountered during initial drilling to test the 426 Zone, part of the Ruby Deeps deposit.
Seven holes have been reported with 12 intercepts of average to high-grade gold found in every discovery.
“The grades of mineralization at Ruby Hill continue to impress as we define one of the premier Carlin-type, gold deposits… We have a CIL plant at Ruby Hill that could factor into our future processing plans given that we are intersecting appreciable oxidized mineralization in the 426 Zone,” Ewan Downie, CEO of i-80, said.
Additionally, significant alteration and mineralization have been reported in several exploration targets that have been tested to-date that also include oxidized mineralization.
The company stated the 426 Zone is the upper portion of the Ruby Deeps deposit and shows signs of hosting mineralization within or near the northeast striking 426 fault structure. Drilling in the zone is designed to define mineralization for initial mine planning, to provide geotechnical work for the design of the underground decline, and to complete additional metallurgical test work.
According to i-80, the zone remains open along strike to the south and at depth with very little drilling existing along the 426 fault at depth above its intersection within the Ruby Deeps.
The company shared that the ongoing infill and step-out drill program will advance its plan to develop an underground mine at Ruby Hill. Following the 2022 program, an updated mineral resource estimate is planned for the completion of an economic study.
i-80 Gold Corp. (IAU) is up 2.70 per cent trading at $2.66 per share as of 3:09 p.m. ET.
