i-80 Gold Corp. said it has hit multiple zones of high-grade mineralization from step-out drilling of the southern extension of the Ruby Deeps deposit at its 100%-owned Ruby Hill property in Eureka County, Nevada.
The new results included 33.2 metres (m) at 19.8 grams per tonne (g/t) gold from the southernmost core hole iRH22-06 and confirmed the potential to expand high-grade mineralization within the Ruby Deeps Zone, which remains open along strike to the north and south, and to the east, the mining company said.
Other highlights from the initial step-out drilling include:
- 8.4 g/t gold over 3.7m;
- 8.2 g/t gold over 22.4 m, including 14.1 g/t gold over 7.2m; and
- 6.5 g/t gold over 4.3m.
"It is extremely encouraging to see multiple zones of high-grade mineralization developing in the southern portion of the Ruby Deeps zone, continuing to demonstrate the property's potential to host a world-class, Carlin-type, gold deposit," i-80 CEO Ewan Downie said in a statement.
READ: i-80 Gold is advancing its projects in Nevada to achieve the goal of becoming a mid-tier gold producer
"In addition to successfully expanding mineralization in the primary target zones, significant alteration and mineralization has been observed in multiple exploration targets that have been tested.
“The footprint of the alteration system at Ruby Hill is comparable to Nevada's most productive gold districts. I have been fortunate to have been a part of several significant discoveries and the delineation of major deposits, but perhaps have not participated in a project with the upside potential we are seeing at Ruby," he added.
Due to substantial success of the 2022 program at Ruby Hill, more than 20,000 metres of drilling will be completed to define and expand the Ruby Deeps Deposit, including the upper ‘426’ horizon, while also testing several high-potential exploration targets on the property, i-80 said.
Initial results from drilling in the 426 horizon are expected in the coming weeks.
Underground mine
The ongoing infill and step-out drill program will help the company's plan to develop an underground mine at Ruby Hill, accessed via ramp from the Archimedes open pit, i-80 said.
Infill drilling is being completed for initial mine planning and to upgrade resources for the completion of an economic study, while step-out drilling is also being completed with the aim of expanding mineralization to complete a revised resource estimate at year-end.
The current program at Ruby Hill is one of several ongoing and planned drill programs on i-80 projects in 2022 that are collectively expected to comprise in excess of 50,000 metres.
It is expected that refractory mineralization from the planned underground operation at Ruby Hill will be trucked to the company's Lone Tree facility, once operational, and 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, the company said.
The Ruby Hill Property is one of the company's primary assets and is host to the core processing infrastructure within the Eureka District of the Battle Mountain-Eureka Trend, including a CIL plant and an active heap leach facility. The property is host to multiple gold, gold-silver and poly-metallic (base metal) deposits.
Contact the author at jon.hopkins@proactiveinvestors.com