Golden Independence Provides Drilling Update
Golden Independence Provides Drilling Update
Vancouver, British Columbia--(Newsfile Corp. - January 6, 2021) - Golden Independence Mining Corp.
(CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "
Company
") is pleased to provide an update on
drilling progress at the Company's flagship Independence project located adjacent to Nevada Gold
Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada.
Drill Program Update
Golden Independence has completed its 2020 resource expansion drill program at the Company's
Independence project. A total of 23 reverse circulation (RC) holes were drilled with the objective of
confirming the historic resource and expanding the areas of known mineralization. Assays from the
recently completed drill program are being integrated with data from the 56 recently released historic RC
drill holes (see News Releases dated December 9
th
, 2020 and December 15
th
, 2020), to produce an NI
43-101 compliant resource estimate for the Independence project anticipated in Q1 2021. Figure 1
provides a plan view of the location of the RC drill hole collars that will be incorporated into the resource
update.
Concurrent with the Q1 2021 NI 43-101 resource calculation, drilling is continuing with a 6,000-foot RC
drill program targeting the extension of both known oxide and gold skarn mineralization in addition to
testing the gold skarn mineralization's depth from surface. The Company also intends to drill three to five
diamond core (DC) holes in early 2021 for geotechnical and engineering purposes.
"With the completion of our 2020 drill program, our next step is to table an NI 43-101 compliant resource
for the Independence project in early 2021 as we advance to a PEA in the second half of this year,"
commented Golden Independence CEO, Christos Doulis. "We believe the integration of both the 23
holes drilled in 2020 plus the 56 historic holes should result in a significantly expanded resource
estimate at the Independence project."
Figure 1: Plan View Showing Drill Collar Locations
Click here for a full-size map
The technical content of this news release has been reviewed and approved by R. Tim Henneberry,
PGeo (B.C.), a director and president of Golden Independence Mining and a qualified person under
National Instrument 43-101.
About Golden Independence Mining Corp.
Golden Independence Mining Corp. is an exploration company currently focused on exploring the
advanced-stage Independence Gold Property located in the Battle Mountain-Cortez Trend, Nevada and
the Champ precious metal property near Castlegar, British Columbia. The Independence Gold Property
benefits from over US$25 million in past exploration, including over 200 holes drilled, and is located
adjacent to Nevada Gold Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend
of Nevada.
FOR FURTHER INFORMATION PLEASE CONTACT:
Christos Doulis, Chief Executive Officer
Telephone: 1.647.924.1083
Email:
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/71446