Independence Gold Intersects Gold Mineralization on Boulevard, Yukon
VANCOUVER, British Columbia, Dec. 18, 2017 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V:IGO) ("Independence" or "the Company") is pleased to announce drill results from the remaining five diamond drill holes completed this summer on the Company’s 100% owned Boulevard Project. Boulevard is contiguous to Goldcorp Inc’s Coffee Gold Deposit in the White Gold District, Yukon. The best intercept in these five holes is 2.58 grams per tonne (“g/t”) gold over 4.3 metres (“m”) including 5.02 g/t gold over 1.4 m. The 1.4 m sample exhibited a nugget effect resulting in 42.7 g/t gold in the coarse fraction (30.6 g) of a 1,040.3 g sample.
A total of 977.5 m of diamond drilling was completed in 9 holes within the Sunrise/Sunset Zone, located 8.5 kilometres (“km”) southwest of the Coffee deposit. Drilling focused primarily on the intersection of the Sunrise and Sunset geochemical trends. Significant intercepts from this year’s diamond drilling program are presented in the table below. A table of all 2017 drill results and a map showing the drill hole locations is posted on the Company’s website.
| Drill hole | From (m) | To (m) | Length (m) | Au (g/t) by Fire Assay | Au (g/t) by Screen Metallics (Coarse Fraction >106 microns) | Au (g/t) by Screen Metallics (Fine Fraction <106 microns) | Au (g/t) by Screen Metallics (Weighted Average) |
| BV17-59 | 52.00 | 60.00 | 8.00 | 0.49 | - | - | - |
| BV17-63 | 34.00 | 34.68 | 0.68 | 4.43 | 1.7 | 3.81 | 3.8 |
| BV17-63 | 79.65 | 87.50 | 7.85 | 0.45 | - | - | - |
| Incl. | 79.65 | 84.25 | 4.60 | 0.62 | - | - | - |
| BV17-64 | 35.70 | 39.00 | 3.30 | 1.38 | |||
| Incl. | 35.70 | 36.85 | 1.15 | 3.30 | 3.3 | 3.35 | 3.4 |
| BV17-64 | 65.35 | 65.50 | 0.15 | 1.59 | 19.2 | 0.68 | 1.2 |
| BV17-65 | 14.50 | 20.30 | 4.30 | 2.58 | - | - | - |
| Incl. | 16.00 | 17.40 | 1.40 | 5.02 | 42.7 | 2.01 | 3.2 |
| Incl. | 17.90 | 19.20 | 1.30 | 2.35 | 8.1 | 2.66 | 2.3 |
| BV17-65 | 129.00 | 129.50 | 0.50 | 2.27 | 4.7 | 1.62 | 1.7 |
| BV17-66 | 77.15 | 77.50 | 0.35 | 2.69 | 1.8 | 2.76 | 2.7 |
| BV17-67 | 19.25 | 20.85 | 1.60 | 1.39 | 1.0 | 1.26 | 1.2 |
Length represents the apparent thickness of the mineralization and should not be considered as the true width
Gold mineralization exhibited a nugget effect and thus all samples from this program with fire assay results greater than 1 g/t gold have been further analysed by screen metallics to determine the amount of gold in the coarse verses fine (greater or less than 106 microns) fractions of each sample.
Drill hole BV17-59, 64 and 65 were designed to follow-up reverse circulation (“RC”) drill hole BV15-31 which intercepted 3.21 g/t gold over 29 m including 7.23 g/t gold over 12.2 m and BV16-53 which intercepted 4.36 g/t gold over 6.1 m and 8.27 g/t gold over 3.1. This series of holes outlines approximately 130 m of mineralization in a northwesterly direction and remains open in both directions along strike. This area is part of a larger anomalous zone identified by elevated gold, arsenic and antimony in soil.
Drill hole BV17-63 tested the northwest strike extension of RC hole BV16-54 which intersected 1.58 g/t gold over 39.6 m including 7.73 g/t gold over 6.1 m. The 2017 program also included BV17-58, a diamond drill hole designed as a minor step out to BV16-54, and interested 3.10 g/t gold over 1.5 including 76.2 g/t gold in the coarse fraction of the sample and drill hole BV17-62 which tested the strike extension to the southeast.
Drill hole BV17-66 tested the southeast extent of the Sunset soil trend, while drill hole BV17-67 tested the northwest extent of the Hollywood soil trend. Both trends are identified by greater than 75th percentile gold, arsenic and antimony in soil.
All five holes have azimuths of approximately 080 degrees with dips ranging between -45 to -55 degrees.
All samples were submitted to SGS Minerals Services in Burnaby, BC for sample preparation by crushing to 75% less than 2 millimetres, creation of a 250 g split, and then pulverizing to 85% passing 75 microns. Sample pulps were submitted for a 52 element analysis using an aqua regia digest and ICP-AES and ICP–MS analysis (GE-ICM14B) and for gold analysis with a 30 g fire assay and AAS finish (code GE-FAA313). Samples resulting in greater than 1 g/t of gold were then re-submitted for analysis by screen metallics. A 1,000 g sample was taken from the reject, crushed to 2 mm and split. A representative sample of approximately 100 g was taken. This sample was pulverized and screened to 106 microns. The plus 106 micron fraction was submitted for fire assay, the minus fraction was split and two 30 g aliquots were submitted for fire assay. Final assays were weight ratioed back to the representative sample weight (code FAS51K). Control samples (accredited gold standards and blanks) were inserted into the sample sequence on a regular basis to monitor precision of results. No QAQC concerns were identified.
About Independence
Independence Gold Corp. (TSX.V:IGO) is a mineral exploration company listed on the TSX Venture Exchange. With a portfolio of projects in the Yukon and the 3Ts Project in British Columbia, the Company’s holdings range from early-stage grassroots exploration to advanced-stage resource expansion. 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 White Gold District projects, 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.