Independence Gold Announces Exploration Program Update on the 3Ts Property, British Columbia
VANCOUVER, Oct. 24, 2019 - Independence Gold Corp. (TSX.V: IGO) ("Independence" or "the Company") is pleased to announce the successful completion of its Phase One and Phase Two exploration programs at the 3Ts Property. Prior to the field programs, an extensive historical data review and compilation was completed, followed by 3D geological modeling of the epithermal quartz-carbonate vein system based on surface and historical drilling data.
The Phase One exploration program commenced in May 2019 and was completed in June 2019. This included prospecting and geological mapping, and detailed alteration mapping of surface exposures and historical drill core stored on site, which resulted in the collection of 1,197 TerraSpec Halo spectral measurements. Several compelling alteration features were detected in the vicinity of known epithermal veins and in the extension zones of the veins. In addition to the alteration mapping, 33 rock samples were collected, mainly from known vein exposures. Three sites not previously sampled on the Property returned anomalous gold (“Au”), silver (“Ag”), and copper (“Cu”) mineralization (up to 3.6 parts per million (“ppm”) Au, 85.8 ppm Ag, and 0.36% Cu).
Phase Two of the 3Ts exploration program was completed in September 2019. This consisted of a 286.4 line-km drone based magnetic survey flown over the vein system. A comprehensive interpretation of the results of the magnetic survey was carried out by SJ Geophysics, and a 3D magnetic inversion model was built and incorporated into the 3D geological model. The magnetic interpretation and the inversion model highlight several anomalous features on the Property which require follow-up work.
The epithermal quartz-carbonate vein system at 3Ts has a calculated inferred resource estimate containing 441,000 ounces of gold and 12,540,000 ounces of silver. The historical data compilation and geological modeling completed in the first half of 2019 resulted in several new drill targets within the Property. The results of the Phase One and Phase Two field programs highlighted numerous areas of interest for follow-up work and assisted in refining these new drill target areas. Independence is currently in the process of planning a diamond drill program for the upcoming winter.
About Independence
Independence Gold Corp. (TSX.V:IGO) is a mineral exploration company listed on the TSX Venture Exchange. The Company’s holdings range from early-stage grassroots exploration to advanced-stage resource expansion in British Columbia and Yukon. 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”
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.
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.
For further information please contact Randy Turner at 604-687-3959 or info@ingold.ca