Independence Gold Commences 2,000 Metre Drill Program at the 3Ts Project, BC

Rhea-AI Summary

Independence Gold Corp. announces diamond drilling program at 3Ts Project. Fall drill program to focus on recent discoveries and extensions of vein systems. Budget for program is $650,000.

Positive

• Independence Gold Corp. commences diamond drilling program at 3Ts Project, which could lead to further expansion of inferred resource and potential increase in stock price.
• Fall drill program will focus on recently announced discoveries of Johnny and Ian Veins, as well as the Ootsa copper-silver target, increasing chances of positive results and potential stock price growth.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - October 17, 2023) - Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) (the "Company") is pleased to announce the commencement of a diamond drilling program at its 100% owned 3Ts Project located approximately 185 kilometres ("km") southwest of Prince George, British Columbia and situated 16 km southwest of the Blackwater Mine, which is currently being developed by Artemis Gold Inc.

The fall drill program will consist of approximately 16 drill holes totaling 2,000 metres ("m") and will focus on the recently announced discoveries of the Johnny and Ian Veins (see news release dated August 10^th and September 27^th, 2023, respectively) as well as the Ootsa copper-silver target (see news release dated October 4^th, 2023). In addition, drilling will also focus on the southern extension of the Ted-Mint Vein System in which targets have been selected based on the updated NI 43-101 inferred resource completed in 2022 by SGS Geological Services (report titled "Mineral Resource Estimate Update for the 3Ts Gold Project, Omineca Mining Division, British Columbia, Canada" authored by Rohan Millar and Allan Armitage with an effective date of August 18, 2022; see news release dated August 18, 2022). Drilling will also test significant gaps between the Tommy and Ted-Mint vein systems. The estimated budget for this drill program is $650,000.

Randy Turner, President and CEO of the Company, commented, "This program will test the extent of the newly discovered Johnny and Ian Veins as well as the Ootsa target. We hope to further expand on the current inferred resource with additional drill holes that will infill areas between the major vein systems."

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 1,100 m and true widths up to 25 m, 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.

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.

Suite 580 – 625 Howe, Vancouver, British Columbia V6C 2T6
Telephone: 604-687-3959
Facsimile: 604-687-1448
E-Mail: info@ingold.ca

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/184198

FAQ

What is Independence Gold Corp. announcing?

Independence Gold Corp. is announcing the commencement of a diamond drilling program at its 3Ts Project.

What will the fall drill program focus on?

The fall drill program will focus on the recently announced discoveries of Johnny and Ian Veins, as well as the Ootsa copper-silver target.

What is the estimated budget for the drill program?

The estimated budget for the drill program is $650,000.