VANCOUVER, British Columbia, Sept. 09, 2020 (GLOBE NEWSWIRE) — Independence Gold Corp. (TSX.V: IGO) (the “Company”) is pleased to announce the commencement of a diamond drilling program at its 100% owned 3Ts Project, located approximately 185 kilometres (“km”) southwest of Prince George, British Columbia and situated 20 km southwest of Artemis Gold Inc.’s Blackwater Project.
The initial program will consist of 11 drill holes totaling approximately 2,200 metres (“m”). The targets are largely based on the extensive compilation and 3D geological model of the epithermal vein system, in addition to the magnetic and spectral surveys, completed in 2019. The 3D model in particular highlighted significant gaps in the historical drilling in the Tommy and Ted-Mint vein systems that the majority of the planned drillholes will be testing. Of the 11 drillholes, four will be dedicated to testing the potential northern extension of the Johnny Vein and the potential southern extension of the Larry Vein, both of which are were not included in the resource estimate described below.
A National Instrument 43-101 compliant inferred resource estimate has been calculated for the Tommy and Ted-Mint Veins. Using a 1 grams per tonne (“g/t”) gold cutoff grade, the total Inferred Resource for these three veins is 5,452,000 tonnes grading 2.52 g/t gold and 71.5 g/t silver for 441,000 contained ounces of gold and 12,540,000 contained ounces of silver (see news release dated May 6, 2014).
The 3Ts Project is comprised of fifteen mineral claims covering approximately 5,200 hectares in the Nechako Plateau region of central British Columbia. The 3Ts Project covers an epithermal quartz-carbonate vein system within which more than a dozen individual mineralized veins, ranging from 50 m to more than 900 m and true widths up to 20 m, have been identified.
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].
