i-80 Gold Corp (TSX: IAU) (NYSE: IAUX) has been observing positive results from the ongoing operations at its Ruby Hill location in central Nevada.
On Tuesday, the company announced that the drilling program at its Eureka County mining site has been expanded and will continue until the end of the year with a focus on the discovery of high-grade polymetallic mineralization in the Hilltop corridor section.
The company says new drilling results at the site have demonstrated excellent continuity of mineralization and optimal ground conditions along with admirable widths and grade, often exceeding 10 grams per ton of gold (g/t Au).
— i-80 Gold Corp (@i80GoldCorp) November 29, 2022
“Ruby Hill has truly outperformed expectation, demonstrating the property’s potential to host both a large Carlin-type gold deposit and also extremely high-grade polymetallic carbonate replacement deposit (CRD) mineralization”, said Tyler Hill, Senior Geologist of i-80.
“Apparent rock quality at the Ruby Deeps deposit appears more competent than at most other Nevada deposits of this type which bodes well for mining.”
The continuous drilling at the site is concerned with expanding and defining gold mineralization in the primary areas while also conducting tests on multiple strong-potential targets at the location such as the recently discovered Hilltop corridor. The company says the step-out drilling in the upper and lower hilltop zones of Ruby Hill continues to intersect sulphide mineralization and that additional results from those zones are currently pending.
This operational activity indicates substantial expansion potential at the location and i-80 says a recently completed geophysical survey has found multiple high-priority anomalies nearby.
Therefore, the company will be continuing its 2022 drill program at Ruby Hill and anticipates to have over 40,000 metres completed by the end of December.
In other gold news, Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre”) also recently released strong drill results in Nevada.
During their 2022 drill program at its 100% owned Gold Project located in White Pine County, Nevada in the Battle Mountain – Eureka gold trend, Calibre intersected high-grade, sulphide mineralization in areas previously untested by drilling.
Highlights of the results include:
- 5.5 g/t Au over 3.0 metres in hole GC22-008; 7.1 g/t Au over 2.1 metres in hole GC22-013;
- 6.6 g/t Au over 5.8 metres in hole GC22-015; 4.1 g/t Au over 8.1 metres in hole GC22-016;
- 3.0 g/t Au over 19.2 metres in hole GCM22-001; 4.6 g/t Au over 4.6 metres in hole GR22-006;
- 6.7 g/t Au over 3.0 metres in hole GR22-091; 6.8 g/t Au over 4.6 metres in hole GR22-102;
- 5.5 g/t Au over 3.0 metres in hole GR22-115; 4.1 g/t Au over 3.0 metres in hole GR22-151;
- 3.2 g/t Au over 43.8 metres including 6.1 g/t Au over 8.1 metres in hole GC22-018;
- 5.3 g/t over 3.0 metres in hole GR22-152; 8.0 g/t over 1.52 metres in hole GR22-041
Note: All holes were drilled at angles of -45 to -90 degrees at azimuths designed to intersect targeted structures as nearly as possible to perpendicular when possible. Some drill holes and intercepts reported here did not cross mineralization perpendicularly, and do not represent exact ‘true widths’.
Calibre is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Nevada and Washington in the USA, and Nicaragua. It’s management has delivered shareholder value, time and time again.
In 2022, Calibre is expected to produce 220,000-235,000 ounces of gold with a total cash cost of between $1,075-$1,150 per ounce, and an all-in sustaining cost of $1,200 – $1,275 per ounce. Not only is the Company producing gold, but it’s upside continues with a massive $47M dedicated to exploration in 2022, which includes a significant 185,000m of expansion and discovery drilling.
As of September 30, 2022, Calibre had a cash position of $67M.