VANCOUVER, British Columbia, April 14, 2021 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V: IGO) ("Independence" or "the Company") is pleased to provide an update on the 3Ts Project (the “Property”), including assay results from the first drill hole of a 4,500 metre ("m") winter diamond drilling program, a re-analysis of drill hole 3T-20-06 (drilled in 2020) to identify other potential elements of interest, and plans for a detailed geophysical survey to be carried out over the Property.
The 2021 winter drill program was designed to test significant gaps within the historical drilling of the Tommy and Ted-Mint vein systems, both along strike and at depth, as well as previously untested targets. Drill hole 3T-21-01 was designed to test the Ted-Mint Offset Vein below the microdiorite sill, and highlights include:
| Drill Hole | From (m) | To (m) | Drill Intercept (m) | Au (g/t) | Ag (g/t) |
| 3T-21-01 | 293.35 | 307.00 | 13.65 | 5.07 | 258.10 |
| Including | 293.35 | 299.2 | 5.85 | 8.60 | 577.62 |
Upon further review of previous drill results, the Company re-analyzed data from the 2020 drill program in order to identify other elements of economic interest, notably copper (“Cu”), lead (“Pb”), molybdenum (“Mo”) and zinc (“Zn”). Drill hole 3T-20-06 was selected as it was one of the deepest holes drilled to date and reached a depth of approximately 150 m below the microdiorite sill. Highlights from the analysis include:
| Drill Hole | From (m) | To (m) | Drill Intercept (m) | Cu* (%) | Mo (ppm) | Pb (ppm) | Zn* (%) |
| 3T-20-06 | 401 | 409 | 8 | 0.07 | 56.75 | 818.75 | 0.44 |
| Including | 404 | 406 | 2 | 0.15 | 140.67 | 583.33 | 1.01 |
| Including | 404 | 407 | 3 | 0.21 | 209.00 | 852.50 | 0.92 |
| Including | 403 | 406 | 3 | 0.16 | 145.00 | 2,095.33 | 0.69 |
| *Results for copper and zinc were reported in parts per million by the assaying lab and have been converted to a percentage using 1% = 10,000 ppm | |||||||
Several other deep drillholes from the 2020 drill program, as well as earlier programs, will also be selected to identify and re-analyzed for these elements of interest. Based on alteration studies, geochemistry and geological work the Company has identified the potential for a porphyritic system underlying the 3Ts Property.
The Company has entered into a contract with Dias Geophysical to carry out a program of deep 3D IP and resistivity surveying, and a magnetic tellurics (“MT”) survey with the DIAS32 system, which will commence during the third week of April. The 3D IP survey will be completed on surface and in boreholes across a survey area of approximately 4 km by 2 km, with a goal of imaging the geology beneath the microdiorite sill. A portion of the 3D IP survey will be completed at a higher spatial resolution in order to image potential epithermal vein systems in the near surface. The MT survey will be completed over the same survey area with the goal of extending the depth search to over 1.5 km to help in imaging for potential porphyry sources and major structural features.
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.
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