Independence Gold Discovers New Vein Target Grading up to 26.75 g/t Gold and 295 g/t Silver at the 3Ts Project, BC
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Vancouver, British Columbia--(Newsfile Corp. - September 27, 2023) - Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) (the "Company" or "Independence") is pleased to announce the discovery of a new gold and silver bearing quartz vein at its
The Tony Vein was discovered during a recent trenching program at Copper Knob (see Figure 1 below); a prominent, dome-shaped feature approximately 50 metres ("m") x 30m that sits atop of the Tommy Vein System. A trench was excavated at the base of the feature to better expose the Tommy Vein and a series of sheeted quartz veins. The trenching uncovered silicified rhyolite country rock hosting quartz stockwork, some of which exhibited malachite mineralization along fractures and returned assays up to 375 parts per million ("ppm") copper (see Figure 3).
The Tony Vein is located on the southern flank of Copper Knob and is juxtaposed against the Tommy Vein by a fault. Prior to trenching, a grab sample of vein quartz returned values of 11.61 g/t gold ("Au"), 116 g/t silver ("Ag") and 667 ppm copper. This forms a ledge exposed over a 7.75m section of the trench. Chip samples from the top surface of the quartz ledge returned assays ranging from trace to 26.75 g/t Au and trace to 295.0 g/t Ag. The thickness of the Tony Vein is unknown as it continued beyond the permitted depth of trenching (1.2m depth). The Tony Vein gently dips to the southeast and has not been specifically targeted during recent drill programs. Initial modelling of this vein projection could explain intercepts within historic drill holes which could not be assigned to the Tommy Vein System. It is postulated that historic drill hole 95-003 located 200m southeast intersected the Tony Vein at 38.2m depth over a 6.1m interval which graded 12.43 g/t Au and 95.49 g/t Ag. Further work and drill testing will be required to fully define the subsurface extent and grade potential of the Tony vein.
| Trench | Sample | From (m) | To (m) | Interval (m) | Gold (g/t) | Silver (g/t) |
| Copper Knob Trench | D00227168 | 27.25 | 28.25 | 1.00 | 0.31 | 6 |
| D00227169 | 28.25 | 29.00 | 0.75 | 26.75 | 295 | |
| D00227170 | 29.00 | 30.00 | 1.00 | - | 23 | |
| D00227171 | 30.00 | 31.00 | 1.00 | 2.17 | 34 | |
| D00227172 | 31.00 | 32.00 | 1.00 | 0.50 | 8 | |
| D00227173 | 32.00 | 33.00 | 1.00 | 0.86 | 11 | |
| D00227174 | 33.00 | 34.00 | 1.00 | 0.55 | 9 | |
| D00227175 | 34.00 | 35.00 | 1.00 | 0.08 | - |
* a total of 28 samples were collected from the Copper Knob Trench which assayed from 0.02 g/t to 0.58 g/t gold and from trace to 3 g/t silver in rhyolitic country rock. Only samples collected from the Tony Vein are listed in the above table.
The trench at Copper Knob and the subsequent discovery of the Tony Vein is significant as it indicates the potential of the presence of additional gold-silver quartz veins within previously explored areas.
Figure 1: Location of Copper Knob and trench in relation to the Tommy Vein system.
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Figure 2: Southern flank of Copper Knob (looking north) with the Tony Vein outlined in magenta and select interval results.
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Figure 3: Example of copper mineralization (azurite) as fracture fill in quartz veins at Copper Knob.
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Update on the Current Field Program
The summer exploration program commenced in mid-July 2023 and to date has included regional prospecting and mapping, detailed soil grids, trenching and relogging of historical core. An archeological study was completed between 18th September and 22nd September 2023. Further upgrades have been made to site infrastructure ahead of a planned fall drill program.
Quality control samples ("QC samples") are included in the sample submittals and include blanks, standards and duplicates independent of internal laboratory QAQC testing. Insertion rates vary for the type of sample collected but are not less than 1 in every 40 samples. The results from the QC samples are further analyzed by the Qualified Person to ensure integrity of the assay data.
All rock samples 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
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 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
Telephone: 604-687-3959
E-Mail: info@ingold.ca
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.
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