VANCOUVER, British Columbia, July 24, 2019 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V: IGO) ) ("Independence" or "the Company") is pleased to announce initial sample results from its newly optioned Merit Property, with grades up to 9.5 grams per tonne (g/t) gold and 341 g/t silver from hand-trenched samples and exposed quartz veins along a 4 km long trend.
Current Work Program
Independence Gold contracted SGDS Hive to complete the program at the Merit Property, with work commencing in May, 2019 and due to be completed in early August 2019. Plans include extensive mapping, infill soil sampling, property scale ground magnetic surveys, hand trenching and grab sampling. The results discussed in this release represent the first 35 sample results from the program. Further samples collected since are still pending at the lab.
Sullivan Ridge Target, Merit Property
The Sullivan Ridge target is a 750m by 1,000m dome-shaped hill that has a series of quartz veins exposed at surface. These veins were excavated by hand and a total of 14 grab samples taken of vein material over a 50-meter strike length. Assays ranged from trace to 9.5g/t Au and trace to 10.84 g/t Ag for samples within this area. Samples from Sullivan Ridge consist of chalcedonic quartz with dark sulphide bands along the vein wall, initially resembling a “ginguro-style” of epithermal mineralization. Further studies will help to define and understand the model and direct future exploration work.
Possible South Western Extension
Other samples collected along-trend to the southwest of Sullivan Ridge also returned encouraging results. Sample X981526 is located approximately 400m southwest of the ridge and returned 1.8 g/t gold and 341 g/t silver from a 50 cm wide quartz vein exposed at surface. Sample X981521 is in the southwestern corner of the property, 3.9 km away from Sullivan Ridge, and returned 5.36 g/t gold and 26.6 g/t silver, again from a quartz vein exposed at surface. The Company will complete a ground magnetic survey in late July to early August to help define geological structures and compliment surface mapping at Merit, and to better determine how these sample locations may be geologically related.
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5224b166-30f1-4be0-b33e-4cea0636b531.