Vancouver, B.C. (May 5, 2022) – Independence Gold Corp. (TSX.V: IGO) (OTCQB: IEGCF) (the “Company”) is pleased to announce the completion of a diamond drilling program at its 100% owned 3Ts Project, located approximately 185 kilometres (“km”) southwest of Prince George, British Columbia (“B.C.”) and situated 20 km 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 (“m”). Drilling was distributed across the project area, with ten 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 1 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 12,540,000 contained ounces of silver (see news release dated May 6, 2014).
The 3Ts Project is comprised of fifteen 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 sixteen individual mineralized veins, ranging from 50 m to more than 900 m in length and true widths up to 20 m, have been identified.
Independence Gold Corp. 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. 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, President and 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.