VANCOUVER, British Columbia, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V: IGO) ("Independence" or "the Company") is pleased to report assay results from two drillholes completed on its 100% owned 3Ts Project (the “Property”). Drillholes 3T-20-09 and 3T-20-10 tested the underexplored Ted-Mint Offset Vein, which occurs in a faulted contact between the Ted Vein and the Mint Veins to the south and north, respectively. The results are highlighted by drillhole 3T-20-10, which intersected the Ted-Mint Offset Vein between 51.0 and 119.6 metres (“m”). This interval averaged 3.63 grams per tonne ("g/t") gold (“Au”) and 132.83 g/t silver (“Ag”) over 67.6 m. 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.
Highlights from the 3T-20-09 and 3T-20-10 drillholes include:
| Drill Hole | From (m) | To (m) | Drill Intercept (m) | Gold (g/t) | Silver (g/t) |
| 3T-20-09 | 129.0 | 130.0 | 1.0 | 5.84 | 66.00 |
| 3T-20-10 | 51.0 | 119.6 | 67.6 | 3.63 | 132.83 |
| Including | 54.0 | 59.0 | 5.0 | 11.38 | 779.40 |
| Including | 77.0 | 82.0 | 5.0 | 1.66 | 397.80 |
| Including | 110.0 | 114.0 | 4.0 | 33.34 | 195.50 |
Drillhole 3T-20-09 intersected the Ted-Mint Offset Vein between 122.5 and 130.6 m, with an intensely altered diabase dike occurring between 127.0 and 128.4 m. Drillhole 3T-20-10 intersected the Ted-Mint Offset Vein, which contained six intercalated metre-scale intervals of highly altered rhyolite, between 51.0 and 119.6 m. Drillholes 3T-20-09 and 3T-20-10 were both drilled at an azimuth of 073˚ and at -50˚ and -55˚ inclinations, respectively, with the Ted-Mint Offset Vein steeply dipping to the west. Drillholes 3T-20-09 and 3T-20-10 are approximately 24 m apart. The Ted-Mint Offset Vein intersection in drillhole 3T-20-10 is the widest vein interval on the Property to date, and consists of a semi-continuous quartz-carbonate vein hosting significant gold and silver mineralization. The Ted-Mint Vein system remains open at depth and along strike.
A National Instrument 43-101 compliant inferred resource estimate has been calculated for the Tommy and Ted-Mint Veins. Using a 1.0 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).
For maps and figures, visit the Company's website www.ingold.ca.
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.