- i-80 Gold Corp. (IAU) Ruby Deeps deposit has shown multiple zones of high-grade gold mineralization
- High grades were found consistently throughout four intervals on the Ruby Hill Project
- The southernmost core hole drilled confirmed the potential to expand high-grade mineralization
- Intersection widths have met or exceeded the company’s expectations
- The Ruby Hill Project has now been expanded by 20,000 metres
- i-80 Gold Corp. (IAU) is down 0.47 per cent trading at $2.13 per share as of 2:30 p.m. ET
i-80 Gold Corp.’s (IAU) initial step-out drilling test at the Ruby Deeps deposit has intersected multiple zones of high-grade gold mineralization.
High grades were found consistently throughout four intervals on the company’s Ruby Hill Project.
“It is extremely encouraging to see multiple zones of high-grade mineralization developing in the southern portion of the Ruby Deeps zone, continuing to demonstrate the property’s potential to host a world-class, Carlin-type, gold deposit,” Ewan Downie, CEO of i-80, said.
According to i-80, the southernmost core hole drilled confirmed the potential to expand high-grade mineralization within the Ruby Deeps area that remains open along strike to the north, south, and east.
Like previous drilling done in the same area, the company stated the ground conditions look “very favourable” and intersection widths have met or exceeded expectations and i-80 is completing additional drilling in the southern portion of the deposit.
Thanks to the success of the 2022 program at the Ruby Hill Project, i-80 said an additional 20,000 metres of drilling will be completed. The ongoing infill and step-out drill program is designed to help develop an underground mine at Ruby Hill accessed via ramp from the Archimedes open pit.
“In addition to successfully expanding mineralization in the primary target zones, significant alteration and mineralization has been observed in multiple exploration targets that have been tested… the alteration system at Ruby Hill is comparable to Nevada’s most productive gold districts,” Downie said.
i-80 Gold Corp. (IAU) is down 0.47 per cent trading at $2.13 per share as of 2:30 p.m. ET.