12:42:01 EDT Thu 25 Apr 2024
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Independence Gold Corp
Symbol IGO
Shares Issued 104,381,821
Close 2022-05-05 C$ 0.08
Market Cap C$ 8,350,546
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Independence completes 4,182 m drill program at 3Ts

2022-05-05 12:13 ET - News Release

Mr. Randy Turner reports

INDEPENDENCE GOLD COMPLETES DRILL PROGRAM AT 3TS PROJECT, BC

Independence Gold Corp. has completed a diamond drilling program at its 100-per-cent-owned 3Ts project, located approximately 185 kilometres southwest of Prince George, B.C., and situated 20 kilometres southwest of Artemis Gold Inc.'s Blackwater project.

A total of 17 holes were completed on the 3Ts project for a total of 4,182 metres. Drilling was distributed across the project area, with 10 holes into the Ted-Mint target, five into the Tommy target and the remaining two holes drilled into the newly identified Balrog target. The drill program was designed to infill previously intersected gold-silver mineralization within the Ted-Mint and Tommy vein systems and to define the strike extensions of the mineralized veins. The drill targets were designed to update and expand data for a new resource estimate that is expected to be completed this summer.

A total of 2,109 core samples have been sent to SGS Labs in Burnaby, B.C., for analysis. All samples have been delivered and are currently being processed, with the first results expected in late May.

The primary focus of the drill program was to increase the National Instrument 43-101 compliant inferred resource estimate that has been calculated for the Tommy and Ted-Mint Veins. Using a one-gram-per-tonne (g/t) gold cut-off grade, the current total inferred resource for these three veins is 5,452,000 tonnes grading 2.52 g/t gold and 71.5 g/t silver for 441,000 contained ounces of gold and 12.54 million contained ounces of silver (see news release dated May 6, 2014).

The 3Ts project comprises 15 mineral claims covering approximately 5,200 hectares in the Nechako Plateau region of central British Columbia. The 3Ts project covers an epithermal quartz-carbonate vein system within which more than 16 individual mineralized veins, ranging from 50 metres to more than 900 m in length; true widths up to 20 m have been identified.

Andy Randell, PGeo, the company's qualified person as defined by National Instrument 43-101, has reviewed the technical information in this news release.

About Independence Gold Corp.

Independence Gold is a mineral exploration company with holdings ranging from early-stage grassroots exploration to advanced-stage resource expansion in British Columbia and Yukon. The company is positioned to add shareholder value through systematic project advancement, while management continues to evaluate additional gold and silver projects for possible acquisition.

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