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Ronan Manly: Eurasian alliance plans a Moscow World Standard to destroy LBMA's monopoly
By Ronan Manly
Bullion Star, Singapore
Wednesday, August 31 2022
Toward the end of July, news emerged in the Russian media that Moscow and a number of its Eurasian allies are now reviewing a proposal to create an entirely new trading and pricing infrastructure for the international precious metals in order to both destroy London and New York's monopoly over global precious metals pricing, and to stabilise the Russian gold market.
... Dispatch continues below ...
... ADVERTISEMENT ...
I-80 Gold Discovers High-Grade
Silver-Rich Mineralization At Ruby Hill in Nevada
Company Announcement
Tuesday, August 30, 2022
RENO, Nevada -- I-80 Gold Corp. (TSX:IAU, NYSE:IAUX) announces that high-grade, silver-rich, polymetallic CRD mineralization has been discovered in drilling the Hilltop target at the company’s 100%-owned Ruby Hill Property in Eureka County, Nevada.
Highlight results from initial drilling at the Hilltop target:
iRH22-25 (lower horizon) – four intercepts:
-- 671.0 g/t Ag, 7.7 % Zn, and 26.4 % Pb over 0.9 m (19.6 oz/ton silver -- 3.0 ft).
-- 238.8 g/t Ag, 11.0 % Zn, and 9.0 % Pb over 9.4 m (7.0 oz/ton Ag -- 31.0 ft).
-- 469.5 g/t Ag, 11.8 % Zn, and 18.2 % Pb over 2.1 m (13.7 oz/ton Ag -- 7.0 ft).
-- 1,006.0 g/t Ag, 10.9 % Zn, 27.7 % Pb, and 1.6 % Cu over 0.9 m (29.4 oz/ton Ag -- 3.0 ft).
iRH22-43 (upper horizon):
-- 515.3 g/t Ag, 28.9 % Pb, 10.5 % Zn, and 0.9 g/t Au over 28.3 m (15.0 oz/ton Ag – 92.5 ft).
Additionally, two historic holes in the Hilltop target area contain significant intercepts:
HC1427 (lower horizon):
-- 769.2 g/t Ag, 12.4 % Zn, 13.9 % Pb, and 1.0 % Cu over 5.8 m (22.4 oz/ton Ag – 19.0 ft).
BRH-22 (upper horizon):
-- 929.7 g/t Ag and 21.6 % Pb over 4.6 m (27.1 oz/ton Ag – 15.0 ft).
The Hilltop target is one of five conceptual exploration targets drilled in the 2022 program at Ruby Hill and was identified for its potential to host polymetallic (silver-lead-zinc) mineralization. The new zone of mineralization is located approximately 400 meters southwest of the poly-metallic Blackjack Zone and immediately south of the Archimedes pit and the planned portal that the company is advancing for construction. ...
“At current metal prices, the rock value of the initial drill intercepts in the Hilltop Zone represent some of the highest-grade mineralization identified, on a per-tonne basis, to date at Ruby Hill," said Ewan Downie, CEO of I-80. "Given its proximity to the underground infrastructure planned in 2023, this zone is expected to fit in to our future development and mine plans such that we ultimately expect to produce gold, silver, and base metals." ...
... For the remainder of the announcement:
https://www.i80gold.com/i-80-gold-discovers-high-grade-silver-rich-crd-mineralization-at-ruby-hill/
This infrastructure would take the form of:
-- A Moscow World Standard (MWS) for precious metals trading, akin to the London Good Delivery List of the London Bullion Market Association (LBMA)
-- A new international precious metals exchange (trading venue) headquartered in Moscow based on the MWS, and known as the Moscow International Precious Metals Exchange
-- A Price Fixing Committee, with price discovery and new precious metals price fixings based on the MWS, and reference prices derived in the national currencies of participant countries or in new international settlement units
This article will review these developments, explain who has proposed them, explore the potentially wide range of countries that could participate in such a system, and look at the originators’ thinking on what gold and other precious metals pricing should be based on. ...
... For the remainder of the analysis:
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