Vancouver, BC – Independence Gold Corp. (TSX.V: IGO) (“Independence” or “the Company”) is pleased to announce the Board of Directors has approved a $2 million exploration budget for the Yukon which will include drill testing the Company’s 100% owned Boulevard Project, adjacent to Goldcorp’s Coffee Project, and geochemical sampling on several of the Company’s Yukon properties and other property acquisitions. The 2017 exploration program is scheduled to commence in early June.
The Company’s projects are located in the White Gold District of the Yukon, in an area that has seen a significant increase in mineral exploration activities with the addition of several major mining companies making sizable investments in junior exploration companies, included Goldcorp, which currently own 19.9% of Independence.
Boulevard Project
The Company plans to continue systematically exploring the Boulevard Project, undertaking a detailed geochemical sampling program over numerous known anomalies to identify targets for drill testing later this season. The Company plans to complete approximately 2,500 metres (m) of drilling to further evaluate the Denali, Sunset, and Sunrise Zones and to test newly developed targets that result from the detailed sampling program.
The Denali Zone is identified as a 1.2 kilometre (“km”) long multi-element geochemical anomaly that has been confirmed by drilling in multiple holes including YCS15-03 which intersected 4.25 grams per tonne (“g/t”) gold across 6.10 m within the centre of this robust soil anomaly. The Denali Zone is believed to be to be controlled by an extension of the Coffee Creek Fault System. A similar structure, oriented subparallel with the Coffee Creek Fault, is interpreted to control the 2.3 km long Sunrise-Sunset multi-element soil anomaly. The Sunrise-Sunset anomaly has also been confirmed by drilling, including BV16-54 which intersected 1.58 g/t gold across 39.6 m including 7.73 g/t across 6.1 m and drill hole BV15-31 which returned 7.23 g/t Au across 12.2 m. For a map showing the location of these two target areas and their proximity to the Coffee Deposit please visit the Company’s website www.ingold.ca.
The Company also plans to undertake a reconnaissance style geochemical sampling program across approximately 25% of the Boulevard Project which is currently untested, in an effort to identify new geochemical anomalies for future drill testing.
Regional Projects
The company plans to undertake exploration programs on its other properties in the Yukon, including Moosehorn and Henderson Projects, both of which received funding this season from the Yukon Mineral Exploration Program. Moosehorn hosts a 1.4 km long gold-arsenic soil geochemical anomaly located along a topographic high that drains into multiple placer mined creeks. The Company plans to complete a reconnaissance style geochemical sampling program across the remainder of property and to test the known anomaly, using a GeoProbe. The Company also plans to drill approximately 400 m on Henderson to discover a source for the placer gold which has been mined from North Henderson Creek.
The Company continues to evaluate additional early stage projects in Yukon, and intends to add to the Company’s current project portfolio which is approximately 40,000 hectares.
Independence Gold Corp. (TSX.V:IGO) is a well-financed mineral exploration company listed on the TSX Venture Exchange. With a portfolio of projects in the Yukon and the 3Ts Project located in British Columbia, the Company’s holdings range from early stage grassroots exploration to advanced-stage resource expansion. For additional information please visit the Company’s website www.ingold.ca.
David Gale, P.Geo., the Company’s Qualified Person as defined by National Instrument 43-101 for the White Gold Area projects, has reviewed the technical information in this news release.
INDEPENDENCE GOLD CORP.
“Randy Turner”
Randy Turner, President & CEO
For further information please contact Investor Relations at 604-687-3959 or info@ingold.ca
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.
