Independence Gold Intercepts 7.23 g/t Gold Across 12.2 m on the Boulevard Project, Yukon
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 24, 2015) - Independence Gold Corp. (TSX VENTURE:IGO) (the "Company") is pleased to announce two new gold discoveries on its 100% owned Boulevard Project, located in the White Gold District 135 kilometers (km) south of Dawson City, Yukon and contiguous to the Coffee Gold Project currently being advanced by Kaminak Gold Corp.. The Company completed a total of 1,746 metres (m) (13 holes) of reverse circulation (RC) drilling to evaluate previously untested geochemical soil anomalies. The best intercepts are 7.23 grams per tonne (g/t) gold across 12.2 m at the new Sunrise Zone, and 4.25 g/t gold across 6.10 m at the Denali Zone, located 13 km to the northwest of Sunrise. A follow-up program including ground magnetic surveying, geological mapping and additional RC drilling has been initiated.
Sunrise Zone
The 2015 RC drill program was designed to test multiple northeast-trending multi-element soil geochemical anomalies coincident with magnetic low features. These anomalies parallel mineralized trends at Kaminak's Coffee deposit located 9 km northeast of the Sunrise Zone. Eight RC drill holes totaling 819 m were completed, with significant drill results presented below:
| Drill Hole | From (m) | To (m) | Length (m)* | Au (g/t) |
| BV15-31 | 18.29 | 19.81 | 1.52 | 8.80 |
| and | 41.10 | 70.10 | 29.00 | 3.21 |
| incl. | 41.10 | 53.34 | 12.24 | 7.23 |
| incl. | 41.10 | 44.20 | 3.10 | 26.27 |
| BV15-32 | 9.14 | 12.19 | 3.05 | 0.38 |
| BV15-33 | 24.38 | 25.91 | 1.53 | 0.63 |
| TG15-01 | 44.20 | 48.77 | 4.6 | 0.22 |
*True thickness estimated to be 60-70% of drill intercepts
The mineralized intercept from 41.10 m to 53.34 m depth in hole BV15-31 assayed 7.23 g/t gold across 12.2 m, with assay values ranging from 0.025 g/t to 47.70 g/t gold over 1.52 m sample intervals. The hole ended in mineralization at 70.10 m depth with mineralization open in all directions. Mineralization is hosted within silicified quartzite crosscut by quartz veins containing pyrite and pyrrhotite, along an inferred northeast trending fault structure. Hole BV15-31 is centrally located within a 550 m long gold- and arsenic-in-soil anomaly which will be further tested during the follow-up program.
Denali Zone
The Denali Zone is a 700 m long multi-element soil geochemical anomaly where 4.56 g/t gold over 10 m was discovered during the 2012 trenching program (see the Company's news releases dated September 25 and December 18, 2012). The Denali Zone was tested by five RC drill holes, for a total of 927 m, during the 2015 program. Significant results are presented below:
Drill Hole | From (m) | To (m) | Length (m)* | Au (g/t) |
| YCS15-01 | 18.29 | 21.34 | 3.05 | 3.33 |
| YCS15-02 | 71.63 | 74.68 | 3.05 | 0.50 |
| and | 185.93 | 187.45 | 1.52 | 1.30 |
| YCS15-03 | 9.14 | 15.24 | 6.10 | 4.25 |
| incl. | 13.72 | 15.24 | 1.52 | 12.10 |
*True thickness estimated to be 80-90% of drill intercepts
Figures of the Sunrise Zone and Denali Zone can be viewed on the Company website.
Drill holes YCS15-01 and YCS15-03 together define a 130 m long northwest trending, northeast dipping zone that confirms surface trench mineralization and is open along strike and at depth. The gold mineralization is variably hosted within quartzite or quartz biotite schist and, similar to other mineralized zones in the White Gold District, is associated with elevated arsenic and antimony.
The Company has increased its total 2015 exploration and project evaluation budget to $2.0 million (see the Company's news release dated May 20, 2015). The diamond drilling previously announced for the Company's Henderson Project has been postponed due to the follow-up program on the Boulevard Project.
David Pawliuk, P.Geo., the Company's Qualified Person as defined by National Instrument 43-101 for the Boulevard Project, has reviewed the technical information in this news release. Quality assurance and quality control procedures include systematic insertion of blanks and standards into the sample sequence. Samples are placed in sealed bags and shipped directly to SGS Canada Inc.'s analytical facility in Burnaby, BC for preparation, aqua regia inductively coupled plasma (ICP) element analysis and fire assay analysis.
Independence Gold Corp. (TSX VENTURE:IGO) is a well-financed mineral exploration company listed on the TSX Venture Exchange. With multiple projects in the Yukon, and the 3Ts Project located in British Columbia, the portfolio ranges from early stage grassroots exploration to advanced-stage resource expansion. For additional information please visit the Company's website www.ingold.ca.
INDEPENDENCE GOLD CORP.
Randy Turner, President & 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.
Contact
Investor Relations
604-687-3959
info@ingold.ca