i-80 Gold Corp. (TSX: IAU) (NYSE: IAUX) has seen encouraging results from its exploration drilling at its Ruby Hill Property in Eureka County, Nevada.
The 2023 program results were announced on Thursday and have unveiled high-grade polymetallic mineralization in various zones and has led to new discoveries.
The company had been awaiting approvals, which have now been granted, to expand its exploration program along the Hilltop Corridor. The focus has been on the Blackjack deposit and the East Hilltop Zones, which were discovered in late 2022 and early 2023, respectively.
Company stock stayed flat on Thursday at $2.62 on the Toronto Stock Exchange.
The 2023 drilling has intersected high-grade mineralization in multiple target areas, suggesting potential for further expansion.
Key highlights include:
-
Blackjack Zone
- 19.1 per cent Zn, 0.4 g/t Au & 29.2 g/t Ag over 30.4 m (iRH23-18A)
- 17.8 per cent Zn, 0.9 g/t Au & 59.8 g/t Ag over 16.4 m (iRH23-29)
East Hilltop Skarn
- 12.5 per cent Zn & 5.7 g/t Ag over 5.0 m (iRH23-16)
- 12.8 per cent Zn & 4.6 g/t Ag over 10.7 m (iRH23-16A)
- 11.6 per cent Zn & 5.8 g/t Ag over 6.1 m AND 14.7 per cent Zn & 3.7 g/t Ag over 4.6 m (iRH23-27)
- 20.8 per cent Zn & 15.0 g/t Ag over 11.6 m (iRH23-30)
East Hilltop CRD (iRH23-26)
- 6.8 per cent Zn, 3.6 per cent Pb, 0.9 g/t Au & 136.3 g/t Ag over 9.1 m AND
- 10.4 per cent Zn, 7.1 per cent Pb, 0.6 g/t Au & 257.2 g/t Ag over 4.6 m AND
- 7.4 per cent Zn, 7.3 per cent Pb, 1.0 g/t Au & 323.5 g/t Ag over 6.1 m
Gold Mineralized Zones
- 45.4 g/t Au & 50.2 g/t Ag over 17.5 m (iRH23-18A) – Tyche Discovery
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Corridor to the FAD deposit, acquired earlier this year from Paycore Minerals. Several anomalies have been identified for further exploration.
The Ruby Hill Property, located in the Eureka District of the Battle Mountain-Eureka Trend, boasts a rich history of high-grade polymetallic CRD production since the 1860s. The property is a primary asset for the company and houses core processing infrastructure, including an idle leach plant and an active heap leach facility.
“Drilling at Ruby Hill continues to return results that confirm the Property’s capability to be a flagship asset for i-80 with high-grade polymetallic base metal mineralization occurring immediately adjacent to the high‑grade Ruby Deeps gold deposit”, Chief Geologist of i-80 Tyler Hill said.
“Our drill program demonstrates significant potential to expand mineralization with all zones open for expansion and multiple high-priority anomalies identified from geophysical surveys remain untested.”
The company has also proposed plans to develop an underground mine at Ruby Hill, accessed via a ramp from the Archimedes open pit. Work is underway for updated mineral resource estimates and an initial economic study for the gold zones.
Read more: i-80 Gold finds ‘exceptional’ high-grade gold sulphide mineralization in Ruby Hill
