VANCOUVER, British Columbia, June 29, 2021 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V: IGO) ("Independence" or "the Company") is pleased to announce assay results from three more drill holes from the recently completed 4,500 metre (“m”) winter diamond drill program conducted on its 100% owned 3Ts Project (the “Property”), as well as geophysical update. 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 and drill hole locations.
The 2021 winter drill program was designed to test significant gaps within the historical drilling of the Tommy and Ted-Mint vein systems and to expand the current inferred resource. A National Instrument 43-101 compliant inferred resource estimate has been calculated for the Tommy and Ted-Mint Veins, using a 1 gram per tonne ("g/t") gold (“Au”) cutoff grade, the total inferred resource for these three veins is 5,452,000 tonnes grading 2.52 g/t Au and 71.5 g/t silver (“Ag”) for 441,000 contained ounces of Au and 12,540,000 contained ounces of Ag (see news release dated May 6, 2014).
Drill holes 3T-21-12 and 3T-21-14 were designed to test the most southerly projection of the Mint Vein System above the microdiorite sill and were collared 85 m and 65 m, respectively, south along strike from a historic drill hole (TT-03-25, 2.85 g/t Au and 66.93 g/t Ag over 4.0 m). Mineralization in both drill holes is hosted in quartz carbonate veins. Highlights of drill holes 3T-21-12 and 3T-21-14 are as follows:
| Drill Hole | Vein | From (m) | To (m) | Drill Intercept (m) | Gold (g/t) | Silver (g/t) | |
| 3T-21-12 | Mint Central Vein | 68.00 | 88.70 | 20.70 | 4.53 | 85.85 | |
| including | 69.00 | 71.00 | 2.00 | 9.06 | 93.00 | ||
| and | 78.95 | 86.00 | 7.10 | 7.78 | 130.26 | ||
| including | 78.95 | 79.75 | 0.80 | 24.27 | 161.00 | ||
| including | 85.00 | 86.00 | 1.00 | 21.27 | 200.00 | ||
| and | Mint East Vein | 101.00 | 106.10 | 5.10 | 1.04 | 18.61 | |
| including | 104.60 | 106.10 | 1.50 | 2.91 | 31.13 |
| Drill Hole | Vein | From (m) | To (m) | Drill Intercept (m) | Gold (g/t) | Silver (g/t) | |
| 3T-21-14 | Mint Central Vein | 60.60 | 96.75 | 36.15 | 4.48 | 61.64 | |
| including | 60.60 | 84.25 | 23.65 | 6.77 | 91.39 | ||
| and | 74.85 | 84.25 | 9.40 | 16.50 | 222.68 | ||
| and | 79.25 | 84.25 | 5.00 | 29.13 | 306.20 | ||
| and | 81.75 | 84.25 | 2.50 | 50.98 | 444.10 |
Drill hole 3T-21-10 was designed to test the Tommy Vein at depth below the microdiorite sill, approximately 60 m south of historic drill hole 98-079 (2.34 g/t Au and 13.3 g/t Ag over 10.41 m) and 100 m down dip from drill hole 98-081 where 2.11 g/t Au and 17.16 g/t Ag over 31.5m was intersected. 3T-21-10 is the deepest drill hole to date on the Tommy Vein indicating that the vein is still open at depth and along strike. Highlights of drill hole 3T-21-10 include:
| Drill Hole | Vein | From (m) | To (m) | Drill Intercept (m) | Gold (g/t) | Silver (g/t) | |
| 3T-21-10 | Tommy Vein | 469.75 | 474.55 | 4.80 | 3.90 | 28.11 | |
| including | 469.75 | 470.50 | 0.75 | 6.48 | 30.00 | ||
| including | 473.55 | 474.55 | 1.00 | 12.01 | 92.00 | ||
| 3T-21-10 | 485.00 | 490.00 | 5.00 | 1.29 | 3.80 | ||
| including | 486.00 | 487.00 | 1.00 | 3.06 | 10.00 |
The remaining drill holes from this winter’s drill program have been submitted for analysis and results are pending.
All core samples have been sent to SGS lab in Vancouver for sample prep and processing. Robotic sample preparation is used to ensure reproducibility; samples are pulverized to greater than 85% passing 75 microns. All samples are submitted for four acid digest with an ICP finish. Gold grades are obtained by fire assay with AAS finish. Samples which return greater than 50 parts per million silver are resubmitted for fire assay with a gravimetric finish. Samples that return greater than 1.0% copper, lead, or zinc are resubmitted for over-limit ICP analysis.
Geophysical Update
Dias Geophysical Limited completed a major geophysical survey covering approximately eight square kilometres on the Property, comprised of a 3D Induced Polarization (IP) and resistivity survey, along with a Magnetotelluric (“MT”) survey utilizing the DIAS32 system. A final report has been received for all three surveys and results show a strong correlation between high resistivity anomalies of the known vein system both on surface and at depth. Several previously undiscovered vein systems and drill targets have also been outlined near surface, as well as a large resistive and conductive anomaly at depth.
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.
Contact:
Telephone: 604-687-3959
Facsimile: 604-687-1448
E-Mail: info@ingold.ca