12:18:23 EDT Tue 30 Apr 2024
Enter Symbol
or Name
USA
CA



Independence Gold Corp
Symbol IGO
Shares Issued 167,304,931
Close 2024-04-10 C$ 0.25
Market Cap C$ 41,826,233
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Independence Gold begins drilling at 3Ts

2024-04-11 13:28 ET - News Release

Mr. Randy Turner reports

INDEPENDENCE GOLD PROVIDES UPDATE FOR THE 3TS PROJECT, BC

Independence Gold Corp. has provided an update on its current drill program and the company has entered into an agreement with Fuse Advisors to undertake a scoping study at its 100-per-cent-owned 3Ts project, located approximately 185 kilometres southwest of Prince George, B.C., and situated 16 kilometres southwest of Artemis Gold Inc.'s Blackwater project.

Drilling UpdateA drill program comprised of approximately 4,300 metres ("m") has commenced at the 3Ts Project, with the first phase focussing on drilling the Ted-Mint Vein System, specifically targeting previously untested zones from near surface (less than 50m depth) to deeper mineralized zones (greater than 350m depth). A total of 8 drill holes (approximately 1,535m) are planned to target the Ted-Mint Vein System. Once drilling has been completed at the Ted-Mint Vein System the drill will move to test deep targets along the Tommy Vein System. Six holes are planned totalling 1,745m with drill holes planned to test targets to a depth of 350m. Approximately 1,000m of drilling has been allocated to test step-out extensions for the newly discovered Ian and Johnny veins, and on geophysical targets at Balrog and Ootsa once interpretations of field and previous drill data have been completed.

Randy Turner, President, and CEO of the Company commented "We are very pleased with the results from the three previous drill programs undertaken at 3Ts and look forward to seeing how those results and the current drill program will further expand the existing 43-101 inferred resource at the Project." (see report titled "Technical Report on the Mineral Resource Estimate Update for the 3Ts Gold Project, Omineca Mining Division, British Columbia, Canada" authored by Armitage and Miller, effective August 18th, 2022; please see news release dated August 18, 2022 for further details).

Scoping StudyThe Company is undertaking this internal scoping study to assess the economic potential of the 3Ts Project. The study aims to identify different technical concepts and to establish the fundamental project parameters for validation in the next phase of project development, including a high-level understanding of the project's potential and overall economics. Fuse Advisors brings to the table a wealth of experience in guiding exploration companies towards informed decision-making, project de-risking and value creation. Their proven track record in delivering actionable insights and innovative solutions aligns seamlessly with Independence Gold Corp.'s vision of sustainable growth and responsible resource development.

Randy Turner further commented, "Independence Gold is committed to advancing the 3Ts Project and we look forward to working with the team at Fuse Advisors on the scoping study to further enhance our understanding of the project's potential."

Corporate UpdateThe Company wishes to announce the granting of incentive stock options to certain directors, officers, employees and consultants to purchase up to 4,925,000 shares under the Company's Incentive Stock Option Plan. The options will be granted for a period of three (3) years, commencing on April 11th, 2024, exercisable at a price of $0.30 per share.

About IndependenceIndependence Gold Corp. is a well-financed 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. 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 and approved the technical information in this news release.

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