i-80 Gold Corp. (TSX:IAU) (NYSE:IAUX) has discovered more high-grade zinc mineralization at its Ruby Hill property in Nevada.
This Thursday, the mining company announced that the discovery came from the first hole drilled to test the hilltop corridor at the property in Eureka County.
The company also announced it is drill testing multiple target areas for the potential to host polymetallic and base metal mineralization. The program has shown success with three new discoveries in the first dozen holes.
i-80 Gold also had recent discoveries of high-grade, polymetallic CRD (Carbonate Replacement Deposit) mineralization in the Upper and Lower Hilltop Zones. The new target returned 12.3 per cent zinc over 39.6 meters.
The intercept is located approximately 300 metres southeast of the Upper Hilltop Zone where recent drilling has returned high-grade mineralization.
Results released to date from drilling in the Upper Hilltop Zone discovery confirm a relatively flat-lying zone of CRD mineralization with multiple high-grade intercepts including:
- 515.3 g/t Ag, 28.9 per cent Pb, 10.5 per cent Zn & 0.9 g/t Au over 28.3 m in hole iRH22-43
- 1.9 g/t Au, 631.3 g/t Ag, 7.4 per cent Zn & 33.0 per cent Pb over 18.3 m in hole iRH22-53
- 60.2 g/t Au, 908.7 g/t Ag, 1.1 per cent Zn & 15.7 per cent Pb over 10.0 m in hole iRH22-55
Multiple follow-up holes have been completed at Upper Hilltop and RC and core drilling is ongoing.
i-80 Gold is planning to add an additional core rig to accelerate the advancement of the multiple mineralized zones within the Hilltop Corridor and also to further test a new gold target recently identified by company geologists.
“We have realized unparalleled success in the 2022 exploration campaign at Ruby Hill”, said Tyler Hill, Senior Geologist of i-80.
“Significant expansion at Ruby Deeps, new discoveries at Hilltop and now high-grade mineralization in the eastern portion of the Hilltop Corridor has made for an exciting year. All deposits at Ruby Hill remain open for expansion.”
“Our ongoing drill program continues to confirm the substantial upside potential of the Ruby Hill Property with our new discoveries ranking amongst the highest-grade new discoveries being made anywhere in the world”, i-80 CEO Ewan Downie said.
“This property provides i-80 with significant optionality as it is host to oxide gold, sulphide gold, poly-metallic CRD and skarn base metal mineralization. All deposits are located in close proximity to the underground infrastructure being planned in 2023.”
i-80 Gold stock went down on Friday by 1.2 per cent to $3.73 on the Toronto Securities Exchange.
Vancouver-based Calibre Mining (TSX: CXB) (OTCQX: CXBMF)’s resource expansion and recent exploration drilling have shown growth and discovery potential.
In a research report by Haywood Securities Inc., it is anticipated that Calibre shares will garner further investor interest as the company is expected to deliver on its near-term plans to yield drill catalysts across its assets and convert those successes into near and mid-term production.
Calibre’s stock went up by 8.5 per cent on Friday to $1.15 on the Toronto Securities Exchange.
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