VANCOUVER, British Columbia, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V: IGO) ("Independence" or "the Company") is pleased to report assay results from the first two drillholes of a ten hole, 2,034 metre ("m") diamond drilling program recently completed on its 100% owned 3Ts Project (the “Property”). Drillholes 3T-20-01 and 3T-20-02 intersected the Tommy mineralized vein structure within an 86 m wide gap between drillholes completed in the 1990s. Drillholes 3T-20-01 and 3T-20-02 were drilled at -46˚ and -63˚ inclination, respectively, with the Tommy Vein vertically dipping. The 3Ts Project is located approximately 185 kilometres (“km”) southwest of Prince George, British Columbia and situated 20 km southwest of Artemis Gold’s Blackwater Gold Deposit. Please refer to the website for maps showing the vein locations.
Highlights from the initial assay results of the program include:
| Drill Hole | From (m) | To (m) | Drill Intercept* (m) | Gold (g/t) | Silver (g/t) |
| 3T-20-01 | 61.8 | 69.2 | 7.4 | 3.12 | 29.43 |
| Including | 62.2 | 64.2 | 2.0 | 9.45 | 84.00 |
| 3T-20-02 | 87.3 | 100.0 | 12.7 | 7.97 | 37.92 |
| Including | 96.0 | 99.0 | 3.0 | 30.94 | 130.00 |
These initial results from the first two drillholes highlight that the Tommy Vein hosts high-grade gold and silver epithermal mineralization. The best intercept averaged 30.94 grams per tonne ("g/t") gold and 130.0 g/t silver across 3.0 m, within a wider intersection grading 7.97 g/t gold and 37.92 g/t silver over 12.7 m in hole 3T-20-02. This intercept is approximately 40 m along strike from the intercept in hole 95-019 that assayed 8.38 g/t gold and 76.16 g/t silver over 14.3 m. The Company is awaiting assay results for the remaining eight drillholes from the 2020 drilling program, three of which targeted the Tommy Vein and were completed approximately 500 m to the north of drillholes 3T-20-01 and 3T-20-02. In addition, two holes were designed to test the southern extension of the Larry Vein and one drillhole tested the northern extension of the Johnny Vein. The final two drillholes tested the Ted-Mint Offset Vein in the eastern portion of the Property.
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 & 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 info@ingold.ca.