Independence Gold Corp. (TSX VENTURE:IGO) ("Independence Gold" or "the Company")
is pleased to announce an increased National Instrument ("NI") 43-101 compliant
Inferred Resource estimate for three mineralized veins on its 100% owned 3Ts
Project.


The 3Ts Project is located approximately 120 kilometres southwest of Vanderhoof
and consists of twelve mineral claims covering approximately 4,583 hectares in
the Nechako Plateau region of central British Columbia. The 3Ts Project covers
an epithermal quartz-carbonate vein system within which more than a dozen
individual mineralized veins, ranging up to 650 metres ("m") in strike length
and up to 20 m in true width, have been identified.


Well-mineralized vein float boulders at the Ringer Target area (as described in
the Company's NI 43-101 technical report filed on SEDAR December 23, 2011) and
in other parts of the property indicate potential to discover new mineralized
veins within the 3Ts Project area.


The Tommy, Ted and Mint veins contain the Inferred Resources detailed below.
These veins remain open at depth and along strike.




3Ts Inferred Resource Estimates                                             
----------------------------------------------------------------------------
                                   Gold                     Silver          
                        ----------------------------------------------------
Au Cut-off        Tonnes   Grade (g/t)      Ounces   Grade (g/t)      Ounces
----------------------------------------------------------------------------
                                 Tommy Vein                                 
----------------------------------------------------------------------------
0.5 g/t        1,614,810         3.99      207,089        39.65    2,058,936
----------------------------------------------------------------------------
1.0 g/t        1,490,415         4.25      203,816        41.92    2,008,768
----------------------------------------------------------------------------
1.5 g/t        1,370,715         4.52      199,028        44.32    1,953,354
----------------------------------------------------------------------------
2.0 g/t        1,181,727         4.96      188,542        47.99    1,823,604
----------------------------------------------------------------------------
                                  Ted Vein                                  
----------------------------------------------------------------------------
0.5 g/t        2,654,676         1.86      159,001       105.98    9,046,031
----------------------------------------------------------------------------
1.0 g/t        1,813,573         2.37      138,287       124.43    7,256,227
----------------------------------------------------------------------------
1.5 g/t        1,358,246         2.75      120,041       127.96    5,586,009
----------------------------------------------------------------------------
2.0 g/t          888,914         3.36       94,303       105.45    3,014,157
----------------------------------------------------------------------------
                                  Mint Vein                                 
----------------------------------------------------------------------------
0.5 g/t          310,084         5.24       52,279        63.17      629,840
----------------------------------------------------------------------------
1.0 g/t          310,084         5.24       52,279        63.17      629,840
----------------------------------------------------------------------------
1.5 g/t          310,084         5.24       52,279        63.17      629,840
----------------------------------------------------------------------------
2.0 g/t          309,367         5.25       52,245        63.26      629,304
----------------------------------------------------------------------------
                                    Total                                   
----------------------------------------------------------------------------
0.5 g/t        4,579,570         2.84      418,370        79.69   11,734,806
----------------------------------------------------------------------------
1.0 g/t        3,614,072         3.39      394,383        85.15    9,894,835
----------------------------------------------------------------------------
1.5 g/t        3,039,045         3.80      371,348        83.60    8,169,203
----------------------------------------------------------------------------
2.0 g/t        2,380,008         4.38      335,090        71.44    5,467,065
----------------------------------------------------------------------------



Using a 1 gram per tonne gold ("g/t") gold grade cutoff, the total Inferred
Resource for the Tommy, Ted and Mint veins is 3,614,072 tonnes grading 3.39 g/t
gold and 85.15 g/t silver for 394,383 contained ounces of gold and 9,894,835
contained ounces of silver.


The updated Inferred Resource estimates represent a significant increase from
the historic NI 43-101 compliant Inferred Resource estimates at the 3Ts Project.
The increase in the resource estimates is due to utilizing a lower cutoff grade,
and incorporating the results of additional diamond drilling on the property
(see the Company's NI 43-101 technical report filed on SEDAR December 23, 2011).


The 3Ts mineral resource estimates are based on a database of 176 drill holes
(32,773 m) with 3,278 assay values collected through 2011. The resource
estimates are categorized as Inferred as defined by the Canadian Institute of
Mining and Metallurgy guidelines for resource reporting. Mineral resources do
not demonstrate economic viability, and there is no certainty that these mineral
resources will be converted into mineable reserves once economic considerations
are applied.


GeoVector Management Inc. ("GeoVector"), an Ottawa, Ontario based consulting
firm specializing in resource estimation, project assessment and project
management, verified drill hole collar locations, downhole surveys and assay
values against drill logs and assay certificates. The mineral resources were
estimated using 1.0 m composites of the assay values, with zero grade inserted
into intervals that were not sampled.


Geological models were constructed of the mineralized Tommy, Ted and Mint veins.
The models were used to constrain the composite values chosen for interpolation,
as well as the ore blocks reported in each mineral resource. Block models were
constructed using 2 m x 5 m x 5 m blocks in the x, y and z directions
respectively. Grades for gold and silver were interpolated into the blocks by
the inverse distance squared method using a minimum of 2 and a maximum of 20
composites to generate block grades.


Allan Armitage, Ph.D., P.Geol. of GeoVector, a Qualified Person as defined in NI
43-101, performed the Inferred mineral resource estimates. Dr. Armitage is
independent of the Company and has reviewed and approved the technical
information in this news release. 


A NI 43-101 technical report will be finalized and filed on SEDAR within 45 days
of the date of this news release.


An exploration program including diamond drilling is currently being planned for
the 3Ts Project in 2012. 


David Pawliuk, P.Geo., the Company's Qualified Person as defined by NI 43-101,
for the 3Ts Project has reviewed the technical information in this news release.


INDEPENDENCE GOLD CORP.

Randy Turner, President & CEO
Independence Gold (TSXV:IGO)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Independence Gold Charts.
Independence Gold (TSXV:IGO)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Independence Gold Charts.