Independence Gold Discovers New Ootsa Copper-Silver Target grading up to 0.4% Copper and 78 grams per tonne silver at the 3Ts Project, BC
Suite 580 – 625 Howe, Vancouver, British Columbia V6C 2T6
Telephone: 604-687-3959 Facsimile: 604-687-1448 E-Mail: [email protected]
NEWS RELEASE
Independence Gold Discovers New Ootsa Copper-Silver Target grading up to 0.4% Copper and
78 grams per tonne silver at the 3Ts Project, BC
Vancouver, B.C. (October 4, 2023 ) – Independence Gold Corp. (TSX.V: IGO)(OTCQB: IEGCF) (the
“Company” or “Independence”) is pleased to announce the discovery of a new copper-silver target at its
100% owned 3Ts Project, located approximately 185 kilometres (“km”) southwest of Prince George, British
Columbia and situated 16 km southwest of Artemis Gold Inc.’s Blackwater Project.
The Ootsa Target , a series of concentric ring structures defined through geophysical surveys and field
observations, is located approximately 1 km northeast of the Mint Vein and appears unrelated to both the
Tommy and Ted-Mint Vein Systems. These ring structures are represented by a series of breccias that are
surrounding a porphyritic andesite core. The se targets host several large, brecciated quartz veins in an
area of extensive stockwork, the latter of which host copper and silver mineralization at surface.
Initial results from prospecting stockwork zones have returned assays of 0.4% copper and 29 grams per
tonne (“g/t”) silver in sample D00227628 and 0.4% copper and 78 g/t silver in sample D00227631. These
two samples were located 1 km apart along a northwest to southeast trending ridge. A sample from a
quartz vein (D00227623) between the two copper -silver stockwork zones returned 28 p arts per million
molybdenum.
Geological mapping and prospecting of the new Ootsa Target is currently ongoing. A 148-sample soil grid
with 25 metre (“m”) spacing has been completed over the target zone and has further defined a copper-
silver anomaly over a 100 m by 150 m area that is coincident with the geophysical ring structures.
The Ootsa T arget zone is underlain by rocks that formed in an active volcanic environment . It is
hypothesized that these rocks were proximal to a vent due to the presence of vesicular andesite and
breccias that form during decompressive eruptive events. The ring structures observed in the geophysics
appear to have provided conduits for deeper mineral -bearing fluids to migrate along , resulting in the
copper, silver and molybdenum mineral ization observed within the rings at surface. The structure and
geochemistry of the Ootsa Target may indicate a new porphyry target at depth and exploration is ongoing
to further develop a geological model.
Randy Turner, President, and CEO of Independence Gold commented, “The Ootsa Target is an exciting
discovery that confirms the potential for further discoveries at the 3Ts Project. With only 40% of the
project having undergone any meaningful exploration, we are confident at the prospect of future
discoveries.”
Suite 580 – 625 Howe, Vancouver, British Columbia V6C 2T6
Telephone: 604-687-3959 Facsimile: 604-687-1448 E-Mail: [email protected]
Figure 1: Silicified rhyolite with numerous quartz and carbonate veinlets; Malachite and azurite
mineralization. (Rock sample D00227638: 0.4% copper, 29.0 g/t silver)
Figure 2: Initial assay results at the Ootsa Target
Suite 580 – 625 Howe, Vancouver, British Columbia V6C 2T6
Telephone: 604-687-3959 Facsimile: 604-687-1448 E-Mail: [email protected]
Update on the Current Field Program
The summer exploration program commenced in mid -July 2023 and to date has included regional
prospecting and mapping, detailed soil grids, t renching and relogging of historical core. An archeological
study was completed between 18th September and 22nd September 2023. Further upgrades have been
made to site infrastructure ahead of a planned fall drill program.
Quality control samples (“QC samples”) are included in the sample submittals and include blanks,
standards and duplicates independent of internal laboratory QAQC testing. Insertion rates vary for the
type of sample collected but are not less than 1 in every 40 samples. The results from the QC samples are
further analyzed by the Qualified Person to ensure integrity of the assay data. All rock samples to date
have been sent to SGS lab in Vancouver for sample preparation and analysis. Robotic sample preparation is
used to ensure reproducibility; samples are pulverized to greater than 85% passing 75 microns. All samples
are submitted for four acid digest with an ICP finish. Gold grades are obtained by fire assay with AAS finish.
Samples which return greater than 10 parts per million gold and 100 parts per million silver are resubmitted
for fire assay with a gravimetric finish.
The 3Ts Project is comprised of fifteen mineral claims covering approximately 5,200 hectares in the
Nechako Plateau region of central British Columbia. The 3Ts Project covers a low-sulphidation epithermal
quartz- carbonate vein district within which more than a dozen individual mineralized veins, ranging from
50 m to more than 1,100 m and true widths up to 25m, have been identified.
About Independence
Independence Gold Corp. is a mineral exploration company with holdings ranging from early -stage
grassroots exploration to advanced -stage resource expansion in British Columbia and Yukon. The
Company is positioned to add shareholder value through sy stematic project advancement, while
management continues to evaluate additional gold and silver projects for possible acquisition. 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 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 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 ge neral
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 th ose
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.