Vancouver, B.C. (June 6, 2022) – Independence Gold Corp. (TSX.V: IGO)(OTCQB: IEGCF) (the “Company”) is pleased to announce the first assay results from its 4,200 metre (“m”) winter drill program, (completed in April 2022) at its 100% owned 3Ts Project, located approximately 185 kilometres (“km”) southwest of Prince George, British Columbia and situated 20 km southwest of Artemis Gold Inc.’s Blackwater Project.
The winter drill program was designed to infill significant gaps within historical drilling of the Tommy and Ted-Mint vein systems, but also test new targets identified during the 2021 exploration and geophysical programs. Core samples were collected over a broader range of host rocks to test for the potential of lower grade mineralization occurring around the veins. A National Instrument 43-101 compliant inferred resource estimate has been calculated for the Tommy and Ted-Mint Veins, using a 1 gram per tonne (“g/t”) gold (“Au”) cutoff grade, with the total inferred resource for these three veins of 5,452,000 tonnes grading 2.52 g/t Au and 71.5 g/t silver (“Ag”) for 441,000 contained ounces of Au and 12,540,000 contained ounces of Ag (see news release dated May 6, 2014). All data from this drill program and those since 2014 will be included in a resource update expected during the summer of 2022.
Drill holes 3TS-22-11, 3TS-22-12, 3TS-22-13, 3TS-22-16, and 3TS-22-17 all targeted the Tommy veins, an area with several large north-south striking epithermal quartz veins that have been identified on surface over a 900 m strike length by 300 m width and remains open in all directions, including at depth. The first three holes (3TS-22-11 to 3TS-22-13) were designed to test the core of the system, mineralization occurring in the veins and stockwork zones, as well as testing for mineralization continuing below the microdiorite sill that bisects the veins. Holes 3TS-22-16 and 3TS-22-17 were significant step out holes 275 m south from the first three, designed to test the potential southerly extent of the Tommy veins. Hole 3TS-22-17 did not intercept any mineralization, which could indicate a southern structural boundary of the Tommy veins. 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) |
| 3TS-22-11 | Quartz Veins and Stockwork Rhyolite | 31.00 | 32.00 | 1.0 | 2.28 | 35.0 |
| and | 46.00 | 59.75 | 13.75 | 0.65 | 7.41 | |
| and | 68.15 | 98.25 | 30.10 | 4.99 | 53.50 | |
| including | 81.80 | 90.20 | 8.40 | 13.72 | 141.90 | |
| and including | 92.25 | 96.25 | 4.00 | 6.28 | 70.30 | |
| and | 239.10 | 270.80 | 31.70 | 4.65 | 28.60 | |
| including | 240.90 | 246.90 | 6.00 | 18.37 | 116.67 | |
| and including | 265.30 | 267.13 | 1.83 | 5.88 | 28.96 | |
| 3TS-22-12* | Quartz Veins and Mafic Dyke | 132.71 | 139.60 | 6.89 | 12.64 | 95.21 |
| including | 136.19 | 137.80 | 1.61 | 26.66 | 214.91 | |
| and | 146.58 | 151.58 | 5.10 | 15.58 | 54.70 | |
| including | 146.88 | 148.88 | 2.00 | 31.73 | 122.50 | |
| 3TS-22-13 | Stockwork Zone in Rhyolite | 33.50 | 34.50 | 1.00 | 1.67 | 8.00 |
| and | 64.55 | 65.25 | 0.70 | 1.39 | 14.29 | |
| and | 109.80 | 112.00 | 2.20 | 0.61 | 9.09 | |
| 3TS-22-16 | Stockwork in Rhyolite, Veins | 159.00 | 165.12 | 6.12 | 2.25 | 29.90 |
| including | 163.00 | 164.20 | 1.20 | 5.58 | 40.83 | |
| 3TS-22-17 | Stockwork Rhyolite | NO SIGNIFICANT RESULTS |
*3TS-22-12 also intercepted 4.88 m with 4.47% lead and 2.38% zinc (between 145 and 149.88 m).
** The true widths of the veins are approximately 85% of the reported interval width.
The remaining drill holes are currently being analyzed and results are pending. All core samples have been sent to SGS lab in Vancouver for sample prep and processing. 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 50 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 an epithermal quartz-carbonate vein system within which more than a dozen individual mineralized veins, ranging from 50 m to more than 900 m and true widths up to 25 m, have been identified.
Property Update
The Company has terminated the option agreement with Almadex Minerals Ltd. for the Merit and Nicoamen properties.
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
