Independence Gold Corp. (TSX.V: IGO) is pleased to provide an update on the 3Ts Project, including assay results from the second drill hole (3T-21-08) of the 4,500 metre winter diamond drill program, as well as preliminary results of a geophysical survey, both of which were recently completed on the Property. The 3Ts Project is located approximately 185 kilometres southwest of Prince George, British Columbia and situated 20 km southwest of Artemis Gold’s Blackwater Gold Deposit. Please refer to the website for maps showing the vein locations.
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 gold cutoff grade, the total Inferred Resource for these three veins is 5,452,000 tonnes grading 2.52 g/t Au and 71.5 g/t silver for 441,000 contained ounces of Au and 12,540,000 contained ounces of Ag (see news release dated May 6, 2014).
The 2021 winter drill program was designed to test significant gaps within the historical drilling of the Tommy and Ted-Mint vein systems, both along strike and at depth, as well as previously untested targets. Drill hole 3T-21-08 targeted the Tommy Vein at depth below the microdiorite sill, intersecting a zone of brecciated quartz carbonate at 238.20 m. Mineralization within the stockwork comprised of various disseminated sulphides (chalcopyrite, sphalerite and pyrite) and sulfosalts. The vein continued to a depth of 251.80 m. Highlights from the Tommy Vein intersection in 3T-21-08 include:
The remaining drill holes have been submitted for analysis and results are pending.
Dias Geophysical has completed a major geophysical survey covering eight square kilometres on the Property, which was comprised of deep 3D IP and resistivity surveying, and a magnetotelluric survey utilizing the DIAS32 system. The aim of the survey was to obtain imagery of the geology beneath the microdiorite sill. Preliminary results of the survey are encouraging and show a strong correlation between low resistivity anomalies and the known veins both on surface and at depth, as well as new previously undiscovered vein systems. The final report for this survey should be completed and received in the coming weeks.
The Company is pleased to announce that it entered into an agreement to sell the Anita Property to Bullet Resources for cash consideration of $30,000 and 300,000 shares, subject to approval by the TSXV.
Independence Gold Corp. is a mineral exploration company listed on the TSX Venture Exchange. The Company’s holdings range from early-stage grassroots exploration to advanced-stage resource expansion in British Columbia and Yukon.
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.
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