Independence Gold Intersects 37.00 Metres Grading 2.45 g/t Gold and 29.36 g/t Silver From the Tommy Vein and Provides Explora...
03 June 2021 - 10:00PM
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 second drill hole (3T-21-08) of the 4,500
metre (“m”) winter diamond drill program, as well as preliminary
results of a geophysical survey, both of which were recently
completed on the Property. 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.
A National Instrument 43-101 compliant inferred
resource estimate has been calculated for the Tommy and Ted-Mint
Veins. Using a 1 gram per tonne ("g/t") gold (“Au”) cutoff grade,
the total Inferred Resource for these three veins is 5,452,000
tonnes grading 2.52 g/t Au and 71.5 g/t silver (“Ag”) for 441,000
contained ounces of Au and 12,540,000 contained ounces of Ag (see
news release dated May 6, 2014).
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-21-08 targeted
the Tommy Vein at depth below the microdiorite sill, intersecting a
zone of brecciated quartz carbonate at 238.20 m. Mineralization
within the stockwork comprised of various disseminated sulphides
(chalcopyrite, sphalerite and pyrite) and sulfosalts. The vein
continued to a depth of 251.80 m. Highlights from the Tommy Vein
intersection in 3T-21-08 include:
Drill Hole |
From (m) |
To (m) |
Drill Intercept(m) |
Gold(g/t) |
Silver(g/t) |
3T-21-08 |
239.00 |
276.00 |
37.00 |
2.45 |
29.36 |
including |
243.00 |
251.30 |
8.30 |
9.39 |
114.82 |
and |
245.60 |
249.30 |
3.70 |
20.00 |
34.83 |
and |
245.60 |
247.30 |
1.70 |
34.83 |
383.06 |
The remaining drill holes have been submitted
for analysis and results are pending.
Geophysical UpdateDias
Geophysical has completed a major geophysical survey covering eight
square kilometres on the Property, which was comprised of deep 3D
IP and resistivity surveying, and a magnetotelluric (“MT”) survey
utilizing the DIAS32 system. The aim of the survey was to obtain
imagery of the geology beneath the microdiorite sill. Preliminary
results of the survey are encouraging and show a strong correlation
between low resistivity anomalies and the known veins both on
surface and at depth, as well as new previously undiscovered vein
systems. The final report for this survey should be completed and
received in the coming weeks.
Corporate UpdateThe Company is
pleased to announce that it entered into an agreement to sell the
Anita Property to Bullet Resources for cash consideration of
$30,000 and 300,000 shares, subject to approval by the
TSXV.About IndependenceIndependence 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: 604-687-3959Facsimile:
604-687-1448E-Mail: info@ingold.ca
Independence Gold (TSXV:IGO)
Historical Stock Chart
From Oct 2024 to Nov 2024
Independence Gold (TSXV:IGO)
Historical Stock Chart
From Nov 2023 to Nov 2024