04:04:56 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Independence Gold Corp
Symbol IGO
Shares Issued 130,448,487
Close 2023-03-01 C$ 0.125
Market Cap C$ 16,306,061
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Independence Gold acquires Laidman project

2023-03-02 14:26 ET - News Release

Mr. Randy Turner reports

INDEPENDENCE GOLD ACQUIRES LAIDMAN PROJECT, BRITISH COLUMBIA AND PROVIDES AN UPDATE ON THE 3TS PROJECT

Independence Gold Corp. has acquired the Laidman project, covering 10,800 hectares and located 300 metres (m) northwest of its 100-per-cent-owned 3Ts gold and silver project. This project area is located 16 kilometres (km) west of Artemis Gold Inc.'s Blackwater project, and approximately 185 km southwest of Prince George, B.C.

The Laidman project comprises six mineral tenures, largely underlain by the Laidman batholith, a regional-scale quartz monzonite intrusion of Late Jurassic age. The Laidman batholith extends east toward the Blackwater project held by Artemis Gold Inc.

The area within the Laidman project is relatively underexplored and has been subjected to some larger-scale regional surveys undertaken including Geoscience B.C. Along the periphery of the intrusion several mineral showings have been noted. Mineralization similar to the 3Ts project have been discovered close to the contact zone between the intrusions and the local country rock. Although the 3Ts project and the Blackwater gold project are the most advanced mineral deposits in the area, other underexplored local showings exist, including the Key West showing. This is a low-sulphidation epithermal gold and silver showing similar to that at the 3Ts project and hosted within Hazelton volcaniclastic country rock, which historically produced surface samples grading up to 12.65 grams per tonne (g/t) gold and 81.4 g/t silver. Other showings located around the intrusive body host structurally controlled porphyry copper and molybdenum mineralization. The batholith underlying the Laidman project has a 10 km southern edge which represents exploration targets for both epithermal and porphyry style mineralization.

Exploration for 2023 will focus initially on digitizing existing historical datasets as well as field reconnaissance, mapping and prospecting. The company has set an initial budget of $50,000 for the year.

3Ts winter 2023 drill program

Drill equipment and crews are currently being mobilized to the 3Ts project for a 4,000 m drill program that is expected to commence mid-March.

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.

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

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