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Monday, Feb 6, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Gold

i-80 Gold reports zinc and gold high grade mineralization at Ruby Hill Property, Nevada

Results from the upper hilltop zone show high grade intercepts

i-80 mining
Ruby Hill open pit. Image via i-80 mining.

i-80 Gold (TSX: IAU) (NYSE: IAUX) reported high grade zinc mineralization from the first hole it drilled to test the Hilltop Corridor at the company’s Ruby Hill Property in Eureka County, Nevada.

The company is also drill testing multiple target areas for polymetallic and base metal mineralization. Accordingly, this program has enjoyed substantial success with three new discoveries in the first dozen holes drilled. The first hole in the Hilltop Corridor (iRH22-61) intersected high-grade mineralization grading 12.3 per cent Zinc over 39.6 metres.

Hilltop Corridor Surface Plan. Image via i-80 Gold Corp.

The intercept was 300 metres southeast of the Upper Hilltop Zone where recent drilling has brought back mineralization include intercepts like:

Image via i80.

“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,” said Ewan Downie, CEO of i-80.

The Hilltop Corridor presents significant mineralization

The hilltop corridor is an alluvial covered structure trend stretching several kilometres from the Archimedes pit to the nearby FAD deposit drilled presently by Paycore Minerals (TSXV: CORE). The corridor is untested by previous drilling because of the alluvial cover. Specifically, hole iRH22-61 is the first to test this target and intersect zinc mineralization in the East Archimedes fault structure.  along the graveyard flats stock margin that produced an interval of 12.3 per cent zinc over 39.6 meters.

The discovery is 450 metres south of known mineralization in the Blackjack deposit. The new mineralized intercept represents the southern strike extension of the Blackjack deposit of a new zone of skarn mineralization proximal to the Graveyard Flats intrusive complex.

i-80 gold

Cross Section Hilltop Target. Image via i-80 Gold Corp.

The company is presently drilling at Blackjack and intends on drilling in the vicinity of iRH22-61.

Read more: Calibre Mining high-grade gold drill positive results to continue at Panteon North, say analysts

Read more: i-80 Gold has success at Ruby Hill, continues 2022 drill program

Drill results from the upper and low hilltop zones

The upper and lower hilltop zones are 400 metres southwest of the Blackjack Zone, south of the Archimedes pit and proximal to the portal the company is pushing for construction. All zones are open for expansion. Additionally, mineralization consists of polymetallic carbonate replacement deposits (CRD) like massive and semi-massive sulphide and oxide mineralization with high-grade precious metals and base metals.

Results released 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 and  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.  The company has also drilled multiple follow-up holes at Upper Hilltop and core drilling is ongoing.

The initial hole drilled to test the Lower Hilltop target (iRH22-25) intersected multiple zones of mineralization including 0.1 g/t Au, 238.8 g/t Ag, 11.0 per cent Zn & 9.0 per cent Pb over 9.4 m and 0.2 g/t Au, 469.5 g/t Ag, 11.8 per cent  Zn & 18.2 per cent Pb over 2.1 m.

Nevada represents a significant opportunity

Historically, the Eureka Mining District has produced high-grade polymetallic CRD production since the 1860’s. Historic grades rank among the highest of any CRD district in the world. Previously, the potential for the region has been overlooked in favour of Carlin-type gold deposits. The company is aiming to take advantage of that oversight.

Additionally, the company has finished geophysical surveys, including downhole electromagnetic (EM) and surface and induced polarization (IP) surveys. The intent is to find more massive sulfide targets. Early interpretation of the IP survey have discovered several untested, large-scale anomalies in the Hilltop Corridor. The company intends to use these are targets for future drilling at Ruby Hill.

Calibre Mining’s (TSX:CXB) (OTCQX:CXBMF) acquisition of Fiore Gold included a 100 per cent controlling interest in Fiore’s Pan Mine. The operation is located in White Pine County, Nevada in the Battle Mountain-Eureka gold trend. It includes the Pan Gold Mine, which offers considerable exploration options across its 43 kilometre stretch of land.

Historically, its three principle targets have been lucrative for the company.

The first is called the Pegasus target. It has since returned 1.02 g/t over 50.3m, 0.46 g/t over 56.4m, 0.40 g/t over 62.5m, 0.44 g/t over 44.2m, 0.40 g/t over 30.5m, 0.42 g/t over 16.8m, 0.58 g/t over 41.2m, 0.68 g/t over 24.4m.

The second is the Dynamite Target, and its has returned 0.95 g/t over 15.2m including 1.33 g/t over 7.6m, 0.45 g/t over 13.7m – drilled at surface between known inferred resources; 0.59 g/t over 4.6m

The third is the Black Stallion Target and it’s responsible for 0.52 g/t over 7.6m and 0.75 g/t over 25.9m.

 

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