Independence Gold Expands the Spring Drill Program at 3Ts Project, BC

Rhea-AI Summary

Independence Gold Corp. expands its spring drill program at the 3Ts Project in British Columbia by 1,100 meters, totaling 5,300 meters. The additional drilling aims to explore high-grade intercept targets at the Ted-Mint Vein System, potentially increasing the existing mineral resource. The project is ahead of schedule, with efficient drilling and good core recovery. No budget increase is expected for the $1.9 million project. The 3Ts Project consists of seventeen mineral claims covering 8,840 hectares in central British Columbia, hosting multiple mineralized veins.

Positive

• Expansion of the spring drill program at the 3Ts Project to explore high-grade intercept targets.

• Efficient drilling, good core recovery, and favorable weather have placed the program ahead of schedule.

• No budget increase expected for the $1.9 million project.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - May 9, 2024) - Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) (the "Company") is pleased to announce the expansion of the current diamond drill program at its 100% owned 3Ts Project, located approximately 185 kilometres ("km") southwest of Prince George, British Columbia and situated 16 km southwest of Artemis Gold Inc.'s Blackwater Project.

The spring drill program has been expanded by 1,100 metres ("m") from the initially planned 4,200m to 5,300m. The increased drill meterage will be used to explore additional targets at the Ted-Mint Vein System, where there is a potential for high-grade intercepts which will be incorporated into the existing mineral resource (see report titled "Technical Report on the Mineral Resource Estimate Update for the 3Ts Gold Project, Omineca Mining Division, British Columbia, Canada" authored by Armitage and Miller, effective August 18^th, 2022; please see news release dated August 18, 2022 for further details). Including the current drill program, an additional 11,000m has been carried out at 3Ts since the mineral resource was updated in 2022; the results from these drill programs will be incorporated into future mineral resource updates.

The spring drill program has focused on the Ted-Mint and Tommy Vein Systems, Johnny and Ian Veins, two geophysical targets known collectively as the "Balrog" anomaly. A total of 4,150m of core has been drilled to date. Drill core is currently being split and then sent to SGS Labs in Vancouver for processing and analysis. Results will be announced as they become available.

Randy Turner, President & CEO of the Company, commented, "We have been fortunate with the drilling at the 3Ts Project so far this season. Efficient drilling, good core recovery and favourable weather has placed the program ahead of schedule. The additional drilling is able to be added to the program without an increase to the expected budget of $1.9 million."

The 3Ts Project is comprised of seventeen mineral claims covering approximately 8,840 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 50m to more than 1,100m in length and true widths up to 25m, have been identified.

About Independence

Independence Gold Corp. is a well-financed 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 and approved 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.sedarplus.ca. 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/208495

FAQ

What is the 3Ts Project?

The 3Ts Project is a project owned by Independence Gold Corp. located in British Columbia, covering approximately 8,840 hectares.

How much has the spring drill program at the 3Ts Project been expanded?

The spring drill program has been expanded by 1,100 meters, totaling 5,300 meters.

What is the expected budget for the expansion of the drill program at the 3Ts Project?

The expected budget for the expansion is $1.9 million, with no increase anticipated.

What are the targets of the expanded drill program at the 3Ts Project?

The expanded drill program aims to explore high-grade intercept targets at the Ted-Mint Vein System.