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i-80 Gold announces positive initial results from maiden drilling at its Ruby Hill property

i-80 Gold Corp has announced positive initial results from the maiden drill program at its wholly-owned Ruby Hill Property in Eureka County, Nevada, with assay results for the first five holes demonstrating the potential for impressive gold grades and widths of mineralization. “Ruby Hill is one of several projects that we are looking to advance to mine development in the next twelve months and early results from our first-ever drill program have confirmed our belief that the property has excellent potential to host a world-class, Carlin-type gold deposit”, Ewan Downie, CEO of i-80 said in a statement.   “The extent of Carlin-type alteration and mineralization in the Eureka district is comparable to Nevada’s most productive gold districts on the Carlin, Getchell, and Battle Mountain trends. We are not only excited by the impressive widths of high-grade mineralization we are seeing in our early drilling, but also by the apparent rock quality that appears more competent than expected and bodes well for mining,” he added. READ:i-80 Gold secures key water rights for Nevada Cove mine with property acquisition; posts 1Q revenue of $2.8M The company noted that, in 2022, drilling continues to focus on defining and expanding the Ruby Deeps Zone in addition to the upper ‘426’ horizon while also testing several additional high-potential targets at the property. The Carlin-type mineralization at Ruby Hill comprises an upper zone of mixed oxide and sulfide mineralization known as 426 and a lower zone of sulphide mineralization known as the Ruby Deeps. The 426 zone is expected to be the first mineralized body accessed from underground. Hole iRH21-01 experienced excessive deviation, veering west and crossing the Holly Fault prior to intersecting the projected target, while all other holes intersected mineralization as projected, the company said. Highlight results from initial drilling in the Ruby Deeps horizon include:
iRH21-02: 7.0 grams per ton gold (g/t Au) over 71.6 metres 9m) (0.20 oz/ton – 235.0 ft) incl. 9.0 g/t Au over 15.8 m (0.26 oz/ton – 52.0 ft) and 7.7 g/t Au over 16.5 m (0.23 oz/ton – 54.0 ft) iRH21-03: 9.0 g/t Au over 18.3 m (0.26 oz/ton – 60.0 ft) incl. 10.7 g/t Au over 12.2 m (0.31 oz/ton – 40.0 ft) iRH21-04: 9.1 g/t Au over 24.7 m (0.26 oz/ton – 81.0 ft) incl. 11.0 g/t Au over 16.2 m (0.32 oz/ton – 53.0 ft) iRH21-05: 7.1 g/t Au over 78.6 m (0.21 oz/ton – 258.0 ft) incl. 10.1 g/t Au over 41.8 m (0.29 oz/ton – 137.0 ft)
Initial drilling in 2021 focused on confirming high-grade mineralization within the Ruby Deeps Zone and several positive observations were made. Significant oxide mineralization was encountered in the upper zones, with ground conditions appearing to be very favourable and intersection widths meeting or exceeding expectations, i-80 said. The ongoing infill and step-out drill program will aid the company in advance plans to develop an underground mine at Ruby Hill, accessed via a ramp from the Archimedes open pit. Infill and step-out drilling is being completed. The current program at Ruby Hill is one of several ongoing and planned drill programs in 2022 that are expected to comprise in excess of 50,000 metres, the company said. Refractory mineralization mined from the underground operation at Ruby Hill is expected to be trucked to the company’s Lone Tree facility, once operational. Oxide mineralization can be processed on-site at the existing heap leach pad, or at the existing CIL plant. i-80’s substantial existing infrastructure at Lone Tree and Ruby Hill is expected to reduce potential exposure to the current inflationary environment. Contact the author at jon.hopkins@proactiveinvestors.com