Vancouver, B.C. (March 13, 2023) – Independence Gold Corp. (TSX.V: IGO)(OTCQB: IEGCF) (the “Company”) is pleased to announce the commencement of a diamond drill program at its 100% owned 3Ts Project, located approximately 185 kilometres (“km”) southwest of Prince George, British Columbia and situated 16 km southwest of Artemis Gold Inc.’s Blackwater Project, which recently announced the receipt of the BC Mines Act Permit for the development of its Blackwater Mine.
The winter drill program will consist of approximately 28 drill holes totaling 4,100 metres (“m”) and will be focused on the Tommy vein system and an area approximately 200 m around it. The targets were selected based on the updated resource which was completed in 2022 by SGS (see news release dated August 18, 2022) and will test significant gaps within the Tommy vein systems. Additional drilling will focus on testing targets along strike of the vein systems, new veins discovered during the fall 2022 exploration program, as well as testing the potential porphyry targets outlined by the previous geophysical surveys conducted in 2021. The estimated budget for this drill program is $1.1 million.
The primary focus of the drill program is to increase the National Instrument 43-101 compliant inferred resource estimate which has been calculated for the Tommy and Ted-Mint Vein systems. The combined in-pit and underground components of Tommy and Ted-Mint vein systems contain a total inferred resource estimate of 4,469,297 tonnes grading 3.64 grams per tonne (“g/t”) gold and 96.26 g/t silver, at a cut off grade of 0.4 g/t gold equivalent (“AuEq”) in-pit and 2.0 g/t AuEq underground, containing 522,330 ounces of gold and 13,831,415 ounces of silver, totaling 678,156 AuEq ounces.
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 systems within which more than a dozen individual mineralized veins, ranging from 50 m to more than 900 m in length and true widths up to 25 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
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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.