Independence Gold Stakes New Claims in the White Gold District, Yukon
VANCOUVER, British Columbia, June08, 2017(GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V:IGO) ("Independence" or "the Company") is pleased to announce that it has staked 4,385 hectares (ha) named the "Stinger" property, 66 kilometres (km) to the west of Dawson City, Yukon within the Sixtymile Area of the White Gold District.The Company is also pleased to announce that it has expanded the Boulevard Project to the west by approximately 1,460 ha.The Boulevard Project now consists of 958 mineral claims and 19,960 ha.
Stinger Property
This 4,385 ha property is located in the headwaters of the Sixtymile Placer Gold district which has produced in excess of 500,000 ounces of placer gold.The property benefits from direct road access using a logging and prospecting road network that connects with the Top of the World Highway and Dawson City, Yukon.The claims were acquired using a proprietary stream sediment dataset that outlines an area anomalous in gold, silver, lead, zinc, arsenic and antimony.The claims are located on the east side of the northeast-trending Sixtymile-Pika fault system, southwest of the Tintina Fault.Two generations of Cretaceous-aged intrusions occur within the Yukon-Tanana host rocks, and have been linked to numerous vein-style and intrusion-related mineral occurrences in the Yukon and Alaska.The Company will conduct a phase 1 ridge and spur soil sampling and prospecting program to outline anomalies that will be further tested by trenching.
Boulevard Project
Using the same stream sediment database, the Boulevard Project has been expanded to 19,960 ha.The additional claims cover an anomalous catchment basin that is underlain by Yukon-Tanana rocks and occurs along trend to the northwest from the 2.4 km long Sunrise-Sunset mineralized zone.The Company will include this new area in its extensive geochemical soil sampling program that is anticipated to commence mid-June.
Drill testing on the Boulevard Project has outlined two areas proven to host continuous zones of gold-arsenic-antimony mineralization.The Denali Zone is identified as a 1.2 kilometre ("km") long multi-element geochemical anomaly that has been confirmed in multiple drill holes including YCS15-03 which intersected 4.25 grams per tonne ("g/t") gold across 6.10 m within the centre of this robust soil anomaly. The Denali Zone is believed to be controlled by an extension of the Coffee Creek Fault System.A similar structure, oriented subparallel with the Coffee Creek Fault, is interpreted to control the 2.4 km long Sunrise-Sunset Zone. The Sunrise-Sunset anomaly has also been confirmed by drilling, including BV16-54 which intersected 1.58 g/t gold across 39.6 m including 7.73 g/t across 6.1 m and drill hole BV15-31 which returned 7.23 g/t Au across 12.2 m. For a map showing the location of these two target areas and their proximity to the Coffee Deposit please visit the Company's website www.ingold.ca.
Independence Gold Corp. (TSX.V:IGO) is a well-financed mineral exploration company listed on the TSX Venture Exchange.With a portfolio of projects in the Yukon and the 3Ts Project located in British Columbia, the Company's holdings range from early stage grassroots exploration to advanced-stage resource expansion. For additional information please visit the Company's website www.ingold.ca.
David Gale, P.Geo., the Company's Qualified Person as defined by National Instrument 43-101 for the White Gold Area projects, has reviewed the technical information in this news release.
INDEPENDENCE GOLD CORP.
"Randy Turner"
Randy Turner, President & CEO
For further information please contact Investor Relations 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.