Independence Gold Recovers Up to 97.9% Gold From 3Ts Property, British Columbia

VANCOUVER, British Columbia, March 04, 2021 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V: IGO) ("Independence" or "the Company") is pleased to announce the results from metallurgical test work completed on mineralized quartz vein material from 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.

This study was initiated to confirm the results from a previous metallurgical study conducted for Independence by SGS Canada Inc. (see news release dated July 9^th, 2013). This study used composite sample from drill core material from the Ted-Mint vein system and subjected it to a three-stage recovery (gravity, floatation, and cyanide leaching). The 2013 study yielded 97.3% gold recovery and 94.9% silver recovery.

Sample Selection and Preparation
Composite samples comprised of sample rejects of mineralized vein material were collected from drill core recovered during the 2020 program. The first composite comprised material from the Tommy Vein (drill holes 3T-20-01 and 3T-20-02), and the second composite from the Ted-Mint offset vein (drill hole 3T-20-10). These veins yielded gold assay values up to 68.7 grams per tonne (“g/t”) and silver assay values up to 2,550 g/t from meter-scale samples (see news release dated November 4^th, 2019).

Head Results
The following table summarizes the assays results for both composite samples:

The metallurgical study from 2013 returned head results 2.28 g/t gold and 66.6 g/t silver from the Ted-Mint vein, therefore the 2021 results appear to show an improvement in grade.

Gravity Separation
A single gravity separation test was completed on each composite to evaluate the potential for gravity recoverable gold and silver using a Knelson concentrator. The initial concentrate was then further upgraded to a Mozley shaking table. The Mozley concentrate was submitted for assaying and the tailings used for floatation testing. Gravity methods were poor in Composite 1, managing to recover 1.46% gold and 0.57% silver. Composite 2 showed improved recovery for gold with 27.6%, but silver recovery remained low at 3.62%.

Floatation Testwork
A single test was conducted on each of the gravity tailings to assess further recoverability of gold and silver, with the concentrate being submitted for assaying and mineralogy. From these tailings, Composite 1 recovered 76.0% gold and 74.8% silver remaining in the stream, while Composite 2 recovered 64.1% gold and 84.8% silver.

Cyanide Leaching
The floatation tailings were submitted for bottle roll cyanide leaching tests, lasting for 48-hours with a pH of 10.5 to 11. Both composites performed well and recovered additional gold in the pregnant leach solution. Composite 1 recovered 16.4% gold and 17.1% silver from the floatation tailings, while Composite 2 recovered 6.18% gold and 7.07% silver.

Overall Results
The following table summarizes the results of the metallurgical test work:

It is believed that recoverability could be further improved by modifying the processes and with additional mineralogical studies to understand deportment of the gold and silver within the Tommy Vein compared to the Ted-Mint Offset Vein.

Methodology
Samples rejects were blended, crushed to minus 10-micron mesh, and split into 2 kilogram (“kg”) and 10 kg test charges. For each composite, a 2 kg test charge was selected at random and submitted for head chemical and screened metallics. The 2 kg test charges were split into two, with the first half being used for gold and silver analysis by the screened metallics protocol. The sample was stage pulverized to pass a 150 mesh screen until less than 30 grams remained in the oversize fraction. The oversize fraction, as well as two representative cuts of the undersize, were submitted for gold and silver analysis by fire assay to extinction.

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.

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 & CEO

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. 

Contact:
Telephone: 604-687-3959
Facsimile: 604-687-1448
E-Mail: info@ingold.ca