VANCOUVER, British Columbia, Aug. 21, 2017 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V:IGO) ("Independence" or "the Company") is pleased to announce the commencement of its 1,500 metre (“m”) diamond drilling program on the Company’s 100% owned Boulevard Project, in the White Gold District, Yukon. The diamond drill program is following-up on results from the Company’s 2015 and 2016 reverse circulation (RC) drill programs which successfully identified mineralization along the 2.4 kilometre (“km”) Sunrise-Sunset Zone. Concurrently, a Geoprobe drill will evaluate geochemical soil anomalies on the property by completing an estimated 120 holes to the soil-bedrock interface.
Boulevard Project
This season’s program is targeting multiple, highly resistive quartzite horizons that host cross-cutting mineralized quartz veins. The first three drill holes this year are planned to confirm RC drill holes that returned highly anomalous results (BV15-31: 7.23 g/t over 12.2 m; BV15-40: 15.0 g/t Au over 3.1 m; BV16-54: 7.73 g/t Au over 6.1 m). Kendra Johnston, the Company’s Interim President, stated, “Acquiring oriented core from these high-grade gold intervals will enable us to determine the geometry and trend of the quartzite as well as the cross-cutting quartz veins while also being able to test the extent of the mineralization along strike to the northwest and southeast.” Subsequent drilling along the trend will focus on evaluating the extent of these quartzite layers, in areas of coincident multi-element gold-arsenic-antimony soil geochemistry. The company plans to complete 1,500 m of drilling in 12-15 drill holes.
An estimated 2,450 soil samples have already been collected from the Boulevard Project this season from areas which required detailed grid-style follow-up or areas that were previously untested. Initial results from one of the detailed grids located 3.6 km southeast of the Sunrise-Sunset Zone identified a new, 1.0 km long, northwest trending, gold-in-soil geochemical anomaly. This target, along with six others, will be evaluated during the estimated 120 drill hole Geoprobe program that will test the soil-bedrock interface at 5 m spaced sample sites.
Regional Exploration
Work is also set to start on the Company’s pipeline of gold exploration projects within the White Gold District. A further 875 soil samples will be collected on the Company’s 100% owned Moosehorn, Stinger and Henderson Projects. Geoprobe and Rotary Air Blast (“RAB”) drilling will also be conducted on the Moosehorn and Henderson Projects respectively. Moosehorn hosts a 1.4 km long gold-arsenic soil geochemical anomaly, located along a topographic high that drains into multiple placer mined creeks. The Company plans to complete a reconnaissance style geochemical sampling program across the remainder of the property and to test the known anomaly, using the GeoProbe drill. The Company also plans to drill approximately 400 m on Henderson to test a possible source for the placer gold which has been mined from North Henderson Creek.
About Independence
Independence Gold Corp. (TSX.V:IGO) is a mineral exploration company listed on the TSX Venture Exchange. With a portfolio of projects in the Yukon and the 3Ts Project in British Columbia, the Company’s holdings range from early-stage grassroots exploration to advanced-stage resource expansion. For additional information, visit the Company's website www.ingold.ca.
Kendra Johnston, P.Geo., the Company’s Qualified Person as defined by National Instrument 43-101 for the White Gold Area projects, has reviewed the technical information in this news release.
ON BEHALF OF THE BOARD of Independence Gold Corp.
“Michael McPhie”
Interim Chairman, CEO and Director
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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.