Independence Gold Announces Exploration at Spences Bridge Projects
Suite 1020 - 625 Howe Street, Vancouver, British Columbia V6C 2T6
Telephone: 604-687-3959 Facsimile: 604-687-1448 E-Mail: [email protected]
NEWS RELEASE
August 26, 2020 TSX Venture: IGO
Independence Gold Announces Exploration at Spences Bridge Projects
Vancouver, BC – Independence Gold Corp. (TSX.V: IGO) ("Independence" or "the Company") is pleased to announce
that exploration work has commenced on the Merit and Nicoamen properties , located in the Spences Bridge Gold
Belt, British Columbia. Exploration work will consist of geological mapping, prospecting, and surface sampling.
Both projects were explored in 201 9 and several new gold and silver targets were defined during the field
exploration program primarily focused on low-sulphide epithermal quartz vein systems, although several other
targets of mineralization have been found within younger intrusive bo dies. The 2020 program will further delineate
and extend the strike len gth of these target zones and define future drill exploration prog rams. Drill permits are
currently in the final stages for both projects.
Merit Project
The Merit Project is located appr oximately 20 kilometers (km) west of the town of Merritt, accessible by Highway 8
and a well-developed network of roads and trails. Exploration activities in 2019 included the collection of 110 surface
rock samples and property-wide ground mag netic surveys, which identified s everal coincident g eochemical
anomalies with magnetic lows. The highest-grade samples were associated with chalcedonic quartz veins with darker
banding, returning grades of up to 9.6 grams per tonne (g/t) gold and 341 g/t silver.
The 2019 progra m highlighted seven target zones , results of which are h ighlighted in the table below. T hese zones
will be further explored this season.
Zone / Target Approx. Size Gold (g/t) * Silver (g/t) *
Sullivan Ridge Zone 700m x 300m 9.50 341
West Discovery Hill Zone 600m x 400m 2.39 44.63
Central Zone 400m x 200m 6.71 326
South Zone 350m x 300m 4.97 -
Southwest Target 300m x 300m 5.36 26.59
East Target 150m x 100m 1.64 -
Southeast Central Target 50m x 45m 0.87 -
Nicoamen Project
The Nicoamen Project is located approximately 45 km west of the town of Merritt and 1 5km southeast of Lytton ,
accessible by highway and well-developed forestry trails.
Exploration in 2019 included the collection of 41 surface rock sample s, and a ground magnetic survey covering 50%
of the property. As with the Merit Project, the magnetic survey highlighted a “magnetic low” structural corridor that
was coincident with mineral ized chalcedonic quartz vei ns, returning up t o 4 .46 g/t gold. Access to several
prospective areas was restricted in 2019 due to active logging and will be a focus in the 2020 program.
To date, four target zones have been identified at Nicoamen, detailed below:
Zone / Target Size (m) Notes Gold (g/t) *
Zak 235 x 100 Several parallel chalcedonic quartz veins 3.91
Suite 1020 - 625 Howe Street, Vancouver, British Columbia V6C 2T6
Telephone: 604-687-3959 Facsimile: 604-687-1448 E-Mail: [email protected]
Zak East - Single vein discovered at target site 4.46
Nicoamen River 100 x 50 Cluster of chalcedonic veins 1.44
North Zone - Single quartz vein specimen 0.67
* highest recorded value
About Independence
Independence Gold Corp. (TSX.V:IGO) is a mineral exploration company listed on the TSX Venture Exchange. The
Company’s hold ings range from early -stage grassroots exploration to advanced -stage resource expans ion 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 d efined 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 and 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 mea ning of applicable s ecurities laws, including s tatements with respect to the Company’s planned
drilling an d exploration activities. The Company provides forward -looking statements for the purpose of co nveying information
about current expectations and plan s relating to the fu ture and readers are cautio ned th at such statements may not be
appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that ma y be general or
specific and which give rise to the pos sibility 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 wil l not be achieved. These
risks and uncertainties includ e but are not limite d to those identified and r eported 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 act ual actions, events or resu lts to differ materially from those described in fo rward-looking information, there
may be other factors that cause actions, events or results not to be a s anticipated, estimated or intend ed. There can be no
assurance that such i nformation 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.