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Ambrose Evans-Pritchard: Revenge of the Bundesbank spells big trouble for Italy
By Ambrose Evans-Pritchard
The Telegraph, London
Friday, September 2, 2022
he European Central Bank can either bail out Italy or save its credibility in Germany. It will struggle to do both.
With inflation running at a 50-year high in Germany, 14% in the Netherlands, and 25% in Estonia, it is politically impossible to keep mopping up Italy's debt issuance under the guise of monetary policy. The euro's crash to dollar parity has been the last straw. The Bundesbank has lost patience.
... 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/
The ECB is in the worst internal disarray since the depths of the eurozone debt crisis. Hawks and doves are contradicting each other daily on fundamental strategy. Markets have no idea how the new ‘anti-spread’ tool (TPI) to protect Italy is supposed to work, or whether it is legal outside an emergency. “It is a complete shambles. Christine Lagarde has lost control and is not showing any leadership,” said one source close to the Bundesbank.
Mrs Lagarde did not attend the central bankers’ forum in Jackson Hole. The vacuum has been filled by Isabel Schnabel, Germany’s member of the executive council, who has returned to her Bundesbank roots after a fateful dalliance with ultra-loose money. ...
... For the remainder of the analysis:
https://www.telegraph.co.uk/business/2022/09/02/revenge-bundesbank-spells-serious-trouble-italy/
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