VANCOUVER, British Columbia, Jan. 25, 2019 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V: IGO) ("Independence" or "the Company") announces its intent to focus on it’s 100% owned 3Ts Project, located approximately 185 kilometres (“km”) southwest of Prince George, British Columbia and 20 km southwest of New Gold Inc’s Blackwater Project, during 2019. The 3Ts Project is an epithermal quartz-carbonate vein system with a calculated inferred resource estimate containing 441,000 ounces of gold and 12,540,000 ounces of silver.
The known epithermal quartz-carbonate vein system contains more than 12 individual mineralized veins that range up to 20 metres (“m”) in true width and up to 900 m along strike. Most of these veins are open both along strike and at depth, requiring further exploration. In addition, there is potential to discover new mineralized veins within the 3Ts Project area. Well-mineralized vein float boulders have been discovered in numerous parts of the property, including eight samples that averaged 19.0 grams per tonne (“g/t”) gold and 140 g/t silver from the Ringer Target. To date, approximately 50% of the Project area remains unexplored and open for investigation.
A National Instrument 43-101 compliant Inferred Resource Estimate has been calculated for the Tommy, Ted and Mint veins. Using a 1 g/t gold grade cut-off, the total Inferred Resource for these three veins is 5,452,000 tonnes grading 2.52 g/t gold and 71.5 g/t silver for 441,000 contained ounces of gold and 12,540,000 contained ounces of silver. This inferred resource estimate is based on a database of 205 drill holes (41,450 m) with 4,449 assay values (see news release dated May 6, 2014).
The 3Ts Project was discovered by BC Geological Survey geologists in 1993 and has been held by Independence and related companies since 2001. Multiple exploration programs have taken place since 1994, resulting in a wealth of information and data on the central portion of the Project area. The Company intends to complete a comprehensive data review prior to executing a field program later this year.
The Company will have a booth and a core shack display at the Association of Mineral Exploration BC’s Roundup Conference taking place in Vancouver from January 28-31, 2019 and will be exhibiting portions of the mineralized veins from the 3Ts Project.
About Independence
Independence Gold Corp. (TSX.V:IGO) 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. For additional information, visit the Company's website www.ingold.ca.
Kendra Johnston, P.Geo., the Company’s Qualified Person as defined by National Instrument 43-101 for the 3Ts Project, has reviewed the technical information in this news release.
ON BEHALF OF THE BOARD OF INDEPENDENCE GOLD CORP.
“Kendra Johnston”
President and Director
For further information please contact Kendra Johnston at 604-687-3959 or 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.