Independence Gold targets B.C. resource update

Independence Gold Corp. [IGO-TSXV] on Monday released the first results from a 4,500-metre drilling program at its 100%-owned 3Ts project, which is located in central British Columbia, approximately 185 kilometres southwest of Prince George.

The company said all data from this program and those dating back to 2014 will be included in a resource update that is expected during the summer of 2022.

The 3Ts project is situated 20 kilometres southwest of Artemis Gold Inc.’s [ARTG-TSXV] Blackwater Gold project which is estimated to host a measured and indicated resource of 12.4 million AuEq ounces (597 million tonnes at 0.65 g/t AuEq, 0.61 g/t gold, and 6.4 g/t silver).

The 3Ts project consists of 15 mineral claims covering 5,200 hectares in the Nechako Plateau region of central British Columbia. It is comprised of the Tsacha, Taken, Tam, Tommy Bot and Blackwater South properties.

The first gold-bearing quartz vein was discovered in 1993 at Tommy Lake by a B.C.  government mapping crew. Independence Gold has continued to explore the project with recent work, including mapping geophysics, drilling and metallurgy at three main targets, including the Ted-Mint Vein, the Tommy Vein and Ringer Target.

The 2021 winter drill program was designed to test 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 sample were collected over a broader range of host rocks to test for the potential of lower grade mineralization occurring around the veins.

Drilling highlights include hole 3TS-22-11, which returned 30.10 metres of 4.99 g/t gold and 53.50 g/t silver from 68.15 to 98.25 metres. Hole 3TS-22-11 was one of five that targeted the Tommy veins, an area with several large north-south striking epithermal quartz veins that have been identified on surface over a 900-metre strike length by 300 metres width and remains open in all directions, including at depth.

On June 3, 2022, Independence Gold shares closed at $0.08 and currently trad in a 52-week range of 15 cents and $0.05.

In June, 2021, the company said Dias Geophysical had completed a major geophysical survey covering eight square kilometres on the property. The aim of the survey was to obtain imagery of the geology beneath the microdiorite sill.

A 43-101-compliant inferred resource estimate has been calculated for the Tommy and Ted-Mint veins. Using a 1.0-gram per tonne gold cut-off grade, the total inferred resource for these three veins is 5.4 million tonnes grading 2.52 g/t gold and 71.5 g/t silver or 441,000 contained ounces of gold and 12.5 million contained ounces of silver.

Independence Gold is headed by CEO Randy Turner, who is best known for guiding Winspear Diamonds from the discovery of the Snap Lake diamond find in the Northwest Territories to its eventual sale to De Beers Mining for $305 million.

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