Independence Gold Discovers New Major Vein System Grading 6.10 g/t Gold and 66.05 g/t Silver over 6.98 Metres at the 3Ts Project, BC
Vancouver, July 10, 2023 - Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) (the "Company" or "Independence") is pleased to announce assay results from the Ian Vein discovered during the Company's recent 4,000 metre ("m") drill program at its 100% owned 3Ts Project. The Project is located approximately 185 kilometres ("km") southwest of Prince George, British Columbia and situated 16 km southwest of Artemis Gold Inc.'s Blackwater Project.
The Ian Vein is located approximately 240m west of the Tommy Vein system and was previously explored by a single drill hole in 1995. This is the first major new vein discovery at 3Ts in almost 30 years. During the 2023 drill campaign three drill holes were designed to explore the extent of this vein based on field mapping and data compilation results. These holes were drilled towards the east and undercut a historical surface sample grading 11.59 grams per tonne ("g/t") gold and 38.6 g/t silver. Holes 3TS-23-27 and 3TS-23-28 successfully confirmed the presence of sheeted veins while 3TS-23-29 intersected the newly discovered Ian Vein which exhibits a similar width and grade to the Tommy Vein system, with an intercept of 6.98m grading 6.10 g/t gold and 66.05 g/t silver.
Please refer to the website for a map showing the veins and drill hole locations.
| Drill Hole | Host Rock | From (m) | To (m) | Drill Intercept (m)* | Gold (g/t) | Silver (g/t) | Vein Type |
| 3TS-23-27 | Quartz Veins, Rhyolite Breccia | 59.80 | 64.30 | 4.50 | 0.81 | 16.00 | Ian Accessory Veins |
| including | 59.80 | 60.80 | 1.00 | 1.58 | 23.00 | ||
| and | 153.70 | 154.00 | 0.30 | 4.10 | - | ||
| and | 160.00 | 161.00 | 1.00 | 4.56 | 35.00 | ||
| 3TS-23-28 | Quartz Veins, Rhyolite Breccia | 27.50 | 28.00 | 0.50 | 2.46 | 28.00 | Accessory Vein |
| 3TS-23-29 | Quartz Veins, Rhyolite Breccia | 76.52 | 83.50 | 6.98 | 6.10 | 66.05 | MAIN IAN VEIN |
| including | 82.00 | 82.50 | 0.50 | 31.80 | 164.00 | ||
| and | 111.50 | 112.10 | 0.60 | 1.62 | 26.67 | Ian Accessory Veins | |
| and | 146.80 | 147.50 | 0.70 | 1.57 | - | ||
| and | 167.10 | 167.75 | 0.65 | 2.25 | - | ||
| and | 185.77 | 186.45 | 0.68 | 1.50 | - |
*the true widths of the veins are approximately 85% of the reported interval width
**Using a cut-off grade of 0.4 g/t gold as per the resource estimate for "in-pit" grades
The drill program has defined this vein system over a 100m strike length which remains open along strike and at depth. The Ian Vein System presents as a series of six parallel sheeted veins within a 95m-wide zone of fractured and brecciated rhyolite and indicates mineralization between the Ian and Tommy Vein Systems. No drilling has explored the area east of the Ian Vein System and west of Tommy Vein System allowing for the potential to discover more mineralized veins.
The density of the veining associated with the grades provides new targets for future drilling and the potential to increase the global resource at the 3Ts Project.
Figure 1: 3Ts Project Ian Vein System
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8610/172651_e4de526284580b9d_002full.jpg
Update on the Program
The drill program commenced at the 3Ts Project on March 7th, 2023, and was completed during mid-May, with a total of 4,000m of drill core recovered from 33 drill holes. Results are being released as they arrive from the lab and may be out of sequential order due to varying submission dates after logging and sample preparation times.
All drill holes completed to date have been sent to SGS lab in Vancouver for sample preparation and analysis. Robotic sample preparation is used to ensure reproducibility; samples are pulverized to greater than 85% passing 75 microns. All samples are submitted for four acid digest with an ICP finish. Gold grades are obtained by fire assay with AAS finish. Samples which return greater than 10 parts per million gold and 100 parts per million silver are resubmitted for fire assay with a gravimetric finish.
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 a low-sulphidation epithermal quartz- carbonate vein district within which more than a dozen individual mineralized veins, ranging from 50 m to more than 1,075 m and true widths up to 25m, have been identified.
About Independence
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"
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.
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Telephone: 604-687-3959
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E-Mail: info@ingold.ca
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.
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