VANCOUVER, British Columbia, Aug. 27, 2020 (GLOBE NEWSWIRE) — Independence Gold Corp. (TSX.V: IGO) (“Independence” or “the Company”) is pleased to announce that exploration work has commenced on the Merit and Nicoamen properties, located in the Spences Bridge Gold Belt, British Columbia. Exploration work will consist of geological mapping, prospecting, and surface sampling.
Both projects were explored in 2019 and several new gold and silver targets were defined during the field exploration program primarily focused on low-sulphide epithermal quartz vein systems, although several other targets of mineralization have been found within younger intrusive bodies. The 2020 program will further delineate and extend the strike length of these target zones and define future drill exploration programs. Drill permits are currently in the final stages for both projects.
Merit Project
The Merit Project is located approximately 20 kilometers (km) west of the town of Merritt, accessible by Highway 8 and a well-developed network of roads and trails. Exploration activities in 2019 included the collection of 110 surface rock samples and property-wide ground magnetic surveys, which identified several coincident geochemical anomalies with magnetic lows. The highest-grade samples were associated with chalcedonic quartz veins with darker banding, returning grades of up to 9.6 grams per tonne (g/t) gold and 341 g/t silver.
The 2019 program highlighted seven target zones, results of which are highlighted in the table below. These zones will be further explored this season.
| Zone / Target | Approx. Size | Gold (g/t) * | Silver (g/t) * |
| Sullivan Ridge Zone | 700m x 300m | 9.50 | 341 |
| West Discovery Hill Zone | 600m x 400m | 2.39 | 44.63 |
| Central Zone | 400m x 200m | 6.71 | 326 |
| South Zone | 350m x 300m | 4.97 | – |
| Southwest Target | 300m x 300m | 5.36 | 26.59 |
| East Target | 150m x 100m | 1.64 | – |
| Southeast Central Target | 50m x 45m | 0.87 | – |
Nicoamen Project
The Nicoamen Project is located approximately 45 km west of the town of Merritt and 15 km southeast of Lytton, accessible by highway and well-developed forestry trails.
Exploration in 2019 included the collection of 41 surface rock samples, and a ground magnetic survey covering 50% of the property. As with the Merit Project, the magnetic survey highlighted a “magnetic low” structural corridor that was coincident with mineralized chalcedonic quartz veins, returning up to 4.46 g/t gold. Access to several prospective areas was restricted in 2019 due to active logging and will be a focus in the 2020 program.
To date, four target zones have been identified at Nicoamen, detailed below:
| Zone / Target | Size (m) | Notes | Gold (g/t) * |
| Zak | 235 x 100 | Several parallel chalcedonic quartz veins | 3.91 |
| Zak East | – | Single vein discovered at target site | 4.46 |
| Nicoamen River | 100 x 50 | Cluster of chalcedonic veins | 1.44 |
| North Zone | – | Single quartz vein specimen | 0.67 |
* highest recorded value
About Independence
Independence Gold Corp. (TSX.V:IGO) is a mineral exploration company listed on the TSX Venture Exchange. The Company’s holdings range from early-stage grassroots exploration to advanced-stage resource expansion in British Columbia and Yukon. For additional information, visit the Company’s website www.ingold.ca.
Andy Randell, P.Geo., the Company’s Qualified Person as defined by National Instrument 43-101, has reviewed the technical information in this news release.
ON BEHALF OF THE BOARD OF INDEPENDENCE GOLD CORP.
“Randy Turner”
Randy Turner, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to Independence within the meaning of applicable securities laws, including statements with respect to the Company’s planned drilling and exploration activities. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Independence’s public filings under Independence Gold Corp.’s SEDAR profile at www.sedar.com. Although Independence has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Independence disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
For further information please contact Randy Turner at 604-687-3959 or [email protected].
