VANCOUVER, British Columbia, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V:IGO) ("Independence" or "the Company") is pleased to announce the discovery of multiple new soil anomalies and the extension of known soil anomalies on the Company’s 100% owned Boulevard Project in the White Gold District, Yukon. The Company also completed nine diamond drill holes, totalling 977.5 metres (“m”). Drill results are still pending.
The Boulevard Project now contains 25 distinct anomalous trends. This season Independence expanded the Denali Zone by extending the Kahiltna trend to 1.7 kilometres (“km”) and identifying the new D3 (1.5 km) and D4 (3.3 km) trends. The Company also identified the new Runway Zone, consisting of three trends, R1 (5.4 km), R2 (1.2 km) and R3 (2.2 km), as well as the newly named Lewes trend (1.0 km) previously announced on August 21st, 2017 (see Independence news release). The Company’s current soil trends, including those that comprise the Sunrise/Sunset Zone (which was drill tested this year), are outlined in the figure below.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/588cfb36-4814-46ea-9261-379021def484
Kendra Johnston, the Company’s Interim President, stated, “We are very pleased to have outlined so many anomalous trends on the Boulevard Project. Over the years, we have taken great care to collect quality soil samples which we are excited to be advancing toward drill ready targets.”
Anomalous trends on the Boulevard Project are identified by geochemical soil samples with greater than 75th percentile levels of gold, arsenic and antimony with values ranging from below detection in all three elements to 7,010 parts per billion gold, 6,730 parts per million arsenic and 1,325 parts per million antimony. This season’s program included the collection of 2,400 soil samples, increasing the number of soil samples on the Boulevard Project to 20,330. The Company’s internal proprietary database now contains approximately 46,500 soils samples across the White Gold District.
All samples were submitted to SGS Minerals Services in Burnaby, BC for sample preparation by crushing to 75% less than 2 millimetres, creation of a 250 g split, and then pulverizing to 85% passing 75 microns. Sample pulps were submitted for gold analysis with a 30 g fire assay and AAS finish (code GE-FAA313). Samples were also submitted for a 52 element analysis using an aqua regia digest and ICP-AES and ICP–MS analysis (GE-ICM14B). Control samples (accredited gold standards and blanks) were inserted into the sample sequence on a regular basis to monitor precision of results.
Corporate Update
The Company announces the granting of incentive stock options to certain directors and officers to purchase up to 200,000 common shares under the Company’s Incentive Stock Option Plan. The options were granted for a period of five years commencing on November 2, 2017, exercisable at a price of $0.20 per share.
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 District 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
For more information, contact:
Kendra Johnston, Interim President
T: 604-687-3959
E: kjohnston@ingold.ca
W: www.ingold.ca
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.