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Independence Gold Intersects 11.00 Metres of 6.14 g/t Gold and 59.64 g/t Silver in the Ted-Mint Vein System at the 3Ts Project, BC

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Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) has announced promising assay results from its spring drill program at the 3Ts Project in British Columbia. Highlights include an intersection of 11.00 metres grading 6.14 g/t gold and 59.64 g/t silver in the Ted-Mint Vein System. The program, consisting of 22 holes totaling 5,130m, targeted various areas of the Ted-Mint and Tommy Vein Systems.

The 3Ts Project, located 185 km southwest of Prince George, covers a low-sulphidation epithermal quartz-carbonate vein district. It currently has an inferred resource estimate of 4,469,297 tonnes grading 3.64 g/t gold and 96.26 g/t silver, containing 522,330 ounces of gold and 13,831,415 ounces of silver. The company is preparing for a planned minimum 5,000m fall drill program based on data from the summer field program.

Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) ha annunciato risultati promettenti dai campionamenti del suo programma di perforazione primaverile presso il Progetto 3Ts nella Columbia Britannica. Tra i punti salienti vi è un'intersezione di 11,00 metri con un titolo di 6,14 g/t di oro e 59,64 g/t di argento nel Sistema di Vena Ted-Mint. Il programma, composto da 22 fori per un totale di 5.130m, ha preso di mira varie aree dei sistemi di vena Ted-Mint e Tommy.

Il Progetto 3Ts, situato a 185 km a sud-ovest di Prince George, copre un distretto di vene di quarzo-carbonato a bassa solfatazione. Attualmente presenta una stima delle risorse inferite di 4.469.297 tonnellate con un titolo di 3,64 g/t di oro e 96,26 g/t di argento, contenente 522.330 once d'oro e 13.831.415 once d'argento. L'azienda si sta preparando per un programmato programma di perforazione autunnale minimo di 5.000m basato sui dati provenienti dal programma estivo sul campo.

Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) ha anunciado resultados promisorios de los muestreos de su programa de perforación de primavera en el Proyecto 3Ts en Columbia Británica. Entre los aspectos destacados se encuentra una intersección de 11,00 metros con un grado de 6,14 g/t de oro y 59,64 g/t de plata en el Sistema de Venas Ted-Mint. El programa, que consta de 22 perforaciones totalizando 5,130 m, se dirigió a varias áreas de los sistemas de venas Ted-Mint y Tommy.

El Proyecto 3Ts, ubicado a 185 km al suroeste de Prince George, abarca un distrito de venas de cuarzo-carbonato de baja sulfidación. Actualmente tiene una estimación de recursos inferidos de 4,469,297 toneladas con un grado de 3,64 g/t de oro y 96,26 g/t de plata, que contiene 522,330 onzas de oro y 13,831,415 onzas de plata. La empresa se está preparando para un planificado programa de perforación de otoño de un mínimo de 5,000 m basado en los datos del programa de campo de verano.

Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF)가 브리티시컬럼비아의 3Ts 프로젝트에서 봄 시추 프로그램의 유망한 분석 결과를 발표했습니다. 주요 내용으로는 Ted-Mint vein 시스템에서 6.14 g/t 금과 59.64 g/t 은을 함유한 11.00미터 교차점이 있습니다. 이 프로그램은 총 22개의 구멍, 5,130m로 구성되어 있으며, Ted-Mint 및 Tommy vein 시스템의 여러 지역을 목표로 했습니다.

3Ts 프로젝트는 프린스 조지에서 남서쪽으로 185km 떨어진 곳에 위치해 있으며, 저황화 에피테르말 규산염-탄산염 vein 구역을 포함합니다. 현재 3.64 g/t 금과 96.26 g/t 은을 포함하는 4,469,297톤의 추정 자원량이 있으며, 이는 522,330온스의 금과 13,831,415온스의 은을 포함합니다. 이 회사는 여름 현장 프로그램의 데이터를 기반으로 최소 5,000m의 가을 시추 프로그램을 준비하고 있습니다.

Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) a annoncé des résultats d'analyses prometteurs issus de son programme de forage de printemps au projet 3Ts en Colombie-Britannique. Les points forts incluent une intersection de 11,00 mètres avec une teneur de 6,14 g/t d'or et de 59,64 g/t d'argent dans le système de veines Ted-Mint. Le programme, composé de 22 trous totalisant 5 130 m, a ciblé diverses zones des systèmes de veines Ted-Mint et Tommy.

Le projet 3Ts, situé à 185 km au sud-ouest de Prince George, couvre un district de veines de quartz-carbonate à faible sulfidation. Il a actuellement une estimation des ressources inférées de 4 469 297 tonnes avec une teneur de 3,64 g/t d'or et de 96,26 g/t d'argent, contenant 522 330 onces d'or et 13 831 415 onces d'argent. L'entreprise se prépare pour un programme de forage d'automne minimum de 5 000 m prévu, basé sur les données du programme de terrain d'été.

Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) hat vielversprechende Analyseergebnisse aus seinem Frühlingsbohrprogramm im 3Ts-Projekt in British Columbia bekanntgegeben. Zu den Highlights gehört eine Schnittstelle von 11,00 Metern mit 6,14 g/t Gold und 59,64 g/t Silber im Ted-Mint-Veinsystem. Das Programm umfasst 22 Bohrlöcher mit insgesamt 5.130 Metern, die verschiedene Bereiche der Ted-Mint- und Tommy-Veinsysteme anvisiert haben.

Das 3Ts-Projekt, das 185 km südwestlich von Prince George liegt, umfasst ein Niedersulfidationsepitermales Quarz-Karbonat-Venengebiet. Es hat derzeit eine geschätzte inferred-Ressource von 4.469.297 Tonnen mit 3,64 g/t Gold und 96,26 g/t Silber, die 522.330 Unzen Gold und 13.831.415 Unzen Silber enthält. Das Unternehmen bereitet sich auf ein geplantes Herbstbohrprogramm mit mindestens 5.000 Metern vor, das auf Daten aus dem Sommerfeldprogramm basiert.

Positive
  • Drill hole 3TS-24-21 intersected 11.00 metres grading 6.14 g/t gold and 59.64 g/t silver
  • The 3Ts Project has an inferred resource estimate of 4,469,297 tonnes grading 3.64 g/t gold and 96.26 g/t silver
  • A minimum 5,000m fall drill program is planned based on summer field program data
Negative
  • None.

Vancouver, British Columbia--(Newsfile Corp. - September 3, 2024) - Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) (the "Company" or "Independence") is pleased to announce assay results from the Ted-Mint Vein System from the spring drill program carried out at its 100% owned 3Ts Project. The 3Ts Project is located approximately 185 kilometres ("km") southwest of Prince George, British Columbia and is comprised of seventeen mineral claims covering approximately 8,840 hectares in the Nechako Plateau region of central British Columbia. It is situated 16 km southwest of Artemis Gold Inc.'s Blackwater Project and covers a low-sulphidation epithermal quartz- carbonate vein district within which more than a dozen individual mineralized veins, ranging from 50 metres ("m") to more than 1,100 m in strike length and with true widths up to 25m have been identified.

The spring drill program, consisting of 22 holes and totaling 5,130m, was designed to test several targets along the Ted-Mint and Tommy Vein Systems, both near surface and at depth below the sill. The program also tested early-stage exploration targets, including the Ian and Johnny veins, in order to generate additional drill data for incorporation into the current resource model (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 18th, 2022; please see news release dated August 18th, 2022 for further details). The combined in-pit and underground components of the Tommy and Ted-Mint vein systems contain a total inferred resource estimate of 4,469,297 tonnes grading 3.64 grams per tonne ("g/t") gold and 96.26 g/t silver, at a cut-off grade of 0.4 g/t gold equivalent ("AuEq") in-pit and 2.0 g/t AuEq underground, containing 522,330 ounces of gold and 13,831,415 ounces of silver, or 687,156 AuEq ounces.

The Ted-Mint Vein System is a series of north-south striking gold and silver-bearing quartz carbonate veins, defined by drilling with a strike length of 1,050m and an average estimated true width of 6m. Drilling at the northern end of the Ted-Mint Vein System, which is relatively underexplored, 3TS-24-21 targeted the vein below the sill at an approximate depth of 200m vertically. Additionally, hole 3TS-24-22 was drilled to explore the Ted-Mint vein in the south-central part of the system at a depth approximately 70 metres below the 2021 intercept of 3TS-21-01, which returned 13.65 metres grading 5.21 g/t gold and 268 g/t silver. This interval also included the presence of lead and zinc, indicating a transition from precious metals to base metal horizons in the epithermal system. This is reflected in the lower gold grades where the silver increases significantly, indicating proximity to the base metal horizon.

Please refer to the website for a map showing the veins and drill hole locations.

Drill Hole

From
(m)

To
(m)

Host Rock

Drill
Intercept
(m)*

Gold
(g/t)**

Silver
(g/t)

Gold Equivalent***Base Metals
3TS-24-21240.00241.00Quartz Veins1.001.018.001.09
and274.00285.0011.006.1459.646.74
including279.00281.302.3011.4188.2612.29
and including283.00284.001.0016.21192.0018.13
3TS-24-22350.00358.00Quartz Base Metal Veins8.000.55216.002.71

0.13% Lead
0.28% Zinc

including356.00357.001.001.69998.0011.67

0.14% Lead
0.42% Zinc

and383.00385.002.002.449.502.54

 

*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
*** AuEq assumes Au $2,000 USD/Oz, Ag $20 $USD/Oz and utilizes formula AuEq = (Ag(g/t)*($Ag/$Au))+Au(g/t) and uses a metallurgical recovery of 97.9% for gold and 95.5% silver as determined from testing on composite materials from the Mint Vein (see March 4th, 2021 news release)

Update on the Exploration Program
The summer field program included regional mapping, airborne geophysics, trenching and relogging of historical core, including detailed exploration on the Ootsa copper-silver target located 1.2 km north of the camp. A compilation of all summer field data in conjunction with previous drill information will be utilized in preparation for a planned minimum 5,000m fall drill program.

Drill Hole Information from this release

CollarEastingNorthingElevationAzimuth*DipTotal Length
3TS-24-2136477658768701,105m60-50350m
3TS-24-2236465458767161,156m90-60450m

 
* Based on true north. For magnetic declination add 17.5 degrees.

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.

NOTES ON MINERAL RESOURCE ASSUMPTIONS MADE IN THIS NEWS RELEASE

1. The classification of the current Mineral Resource Estimate into Inferred Resource is consistent with current 2014 CIM Definition Standards - For Mineral Resources and Mineral Reserves.
2. All figures are rounded to reflect the relative accuracy of the estimate and numbers may not add due to rounding.
3. All Resources are presented undiluted and in situ, constrained by continuous 3D wireframe models, and are considered to have reasonable prospects for eventual economic extraction.
4. Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
5. It is envisioned that parts of the 3Ts deposit may be mined using open pit mining methods. In-pit mineral resources are reported at a cut-off grade of 0.4 g/t AuEq within a conceptual pit shell.
6. The results from the pit optimization are used solely for the purpose of testing the "reasonable prospects for economic extraction" by an open pit and do not represent an attempt to estimate mineral reserves. There are no mineral reserves on the Property. The results are used as a guide to assist in the preparation of a Mineral Resource statement and to select an appropriate resource reporting cut-off grade.
7. Underground (below-pit) Mineral Resources are estimated from the bottom of the pit and are reported at a base case cut-off grade of 2.0 g/t AuEq. The underground Mineral Resource grade blocks were quantified above the base case cut-off grade, below the constraining pit shell and within the constraining mineralized wireframes. At this base case cut-off grade the deposit shows good deposit continuity with no orphaned blocks.
8. High grade capping was done on 1.0 m composite data.
9. Bulk density values (specific 2.7 grams per cubic centimetre) were determined based on physical test work from each deposit.
10. "Recoverable AuEq" is based on metal recoveries of 97% for Au and 94% for Ag.
11. The in-pit base case cut-off grade of 0.4 g/t AuEq considers a mining cost of US$2.80/t rock and processing, treatment and refining, transportation and G&A cost of US$22.00/t mineralized material, and an overall pit slope of 55 degrees. The below-pit base case cut-off grade of 2.0 g/t AuEq considers a mining cost of US$80.00/t rock and processing treatment and refining, transportation, and G&A cost of US$25.00/t mineralized material.
12. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

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 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/221703

FAQ

What were the key drill results from Independence Gold's 3Ts Project?

The key drill result was from hole 3TS-24-21, which intersected 11.00 metres grading 6.14 g/t gold and 59.64 g/t silver in the Ted-Mint Vein System.

What is the current resource estimate for Independence Gold's 3Ts Project (IEGCF)?

The 3Ts Project has an inferred resource estimate of 4,469,297 tonnes grading 3.64 g/t gold and 96.26 g/t silver, containing 522,330 ounces of gold and 13,831,415 ounces of silver.

Where is Independence Gold's 3Ts Project located?

The 3Ts Project is located approximately 185 kilometres southwest of Prince George, British Columbia, Canada.

What are Independence Gold's (IEGCF) plans for future exploration at the 3Ts Project?

Independence Gold is preparing for a planned minimum 5,000m fall drill program based on data collected from the summer field program at the 3Ts Project.

INDEPENDENCE GOLD CORP

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