Independence Gold Intersects 5.50 Metres Grading 3.17 g/t Gold and 85.64 g/t Silver and Discovers Copper Mineralization 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 Intersects 5.50 Metres Grading 3.17 g/t Gold and 85.64 g/t Silver and
Discovers Copper Mineralization at the 3Ts Project, BC
Vancouver, B.C. (August 10, 2023 ) – Independence Gold Corp. (TSX.V: IGO)(OTCQB: IEGCF) (the
“Company” or “Independence”) is pleased to announce additional assay results from the recent 4,000
metre (“m”) drill program 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. Please see the website for previous drill results.
The objective of this drill program was to target areas of the Tommy Vein System where little historical
information was available for the updated resource model which was completed in August 2022 . This
updated resource combined in -pit and underground compone nts of the Tommy and Ted -Mint vein
systems contain a total inferred resource estimate of 4,470,000 tonnes grading 3.64 grams per tonne
(“g/t”) gold and 96.26 g/t silver, at a cutoff grade of 0.4 g/t gold equivalent (“AuEq”) in -pit and 2.0 g/t
AuEq underground, containing 522,000 ounces of gold and 13,800,000 ounces of silver (please see the
news release dated August 18, 2022 for further details). The drill program was also successful in
discovering the Johnny and Ian Vein Systems that were previously untested.
The results from additional infill and step -out holes have demonstrated proven continuity of the Tommy
Vein System with variable width and grades drilled over a strike length of approximately 1,100 m. The vein
system remains open along strike and at depth. These drill holes were designed to provide additional data
of mineralized grades and widths for a future updated resource model. This drill program not only
extended the strike length of th e Tommy Vein System, but also discovered high-grade, vein -hosted
mineralization more than 240 m and 575 m west of Tommy with the discovery of the Ian and Johnny Vein
Systems, respectively. The Tommy, Ian, and Johnny Vein Systems , as well as the Ted -Mint Vein Systems,
all remain open along strike and at depth.
Please refer to the website for a map showing the veins and drill hole locations.
Drill Hole Host Rock From
(m)
To
(m)
Drill
Intercept
(m)*
Gold
(g/t)
Silver
(g/t)
Gold
Equivalent
**
3TS-23-09 Quartz Veins,
Rhyolite Breccia 123.50 126.90 3.40 4.09 53.53 4.73
3TS-23-11 Quartz Veins,
Rhyolite Breccia
89.50 95.00 5.50 3.17 85.64 4.19
including 90.00 90.50 0.50 9.36 438.00 14.57
3TS-23-16 Quartz Vein 120.80 122.00 1.20 3.55 62.50 4.29
3TS-23-18 Quartz Veins,
Rhyolite Breccia
97.50 106.00 8.50 2.67 26.47 2.98
including 100.00 100.50 0.50 15.16 102.00 16.37
3TS-23-21 Quartz Veins,
Rhyolite Breccia 27.80 29.20 1.40 6.48 82.14 7.46
Suite 580 – 625 Howe, Vancouver, British Columbia V6C 2T6
Telephone: 604-687-3959 Facsimile: 604-687-1448 E-Mail: [email protected]
Drill Hole Host Rock From
(m)
To
(m)
Drill
Intercept
(m)*
Gold
(g/t)
Silver
(g/t)
Gold
Equivalent
**
3TS-23-23 Quartz Veins,
Rhyolite Breccia
32.88 33.50 0.62 7.61 75.81 8.51
and 35.00 35.50 0.50 1.58 10.00 1.70
and 37.50 41.00 3.50 8.06 59.71 8.77
3TS-23-25 Quartz Veins,
Rhyolite Breccia
7.00 13.40 6.40 0.88 18.91 1.11
including 10.50 11.50 1.00 2.49 42.00 2.99
*the true widths of the veins are approximately 85% of the reported interval width
** AuEq assumes Au $1,975 USD/Oz, Ag $23.50 $USD/Oz and utilizes formula AuEq = (Ag(g/t)*($Ag/$Au))+Au(g/t)
Update on the Summer Exploration Program
The summer exploration program commenced in mid -July with surface work actively underway. To
date, the geological team has completed a geochemical soil grid and prospecting over previously
untested geophysical anomalies. These anomalies are located approximately 1 km to the northeast of
the Ted-Mint Vein System where a 700 m wide circular magnetic anomaly has been identified (the
“Ootsa Ring Structure”). Prospecting at the Property has also discovered several outcrops of brecciated
rhyolite/dacite which hosts malachite and azurite (copper carbonates) along fractures and veinlets
within the host rock over 250 m. This is the first time copper mineralization has been discovered in
surface outcrop at the 3Ts property. In addition to the soil sampling, s everal trenches have also been
excavated in the Tommy area with a focus to better understand the mineralizing potential in a zone of
structural complexity.
The 3Ts Project is comprised of fifteen mineral claims covering appro ximately 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 in strike length and true widths up to 25 m, 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 systematic 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 "forwar d-looking information" with respect to
Independence within the meaning of applicable securities laws, including statements with respect to the Company’s planned
Suite 580 – 625 Howe, Vancouver, British Columbia V6C 2T6
Telephone: 604-687-3959 Facsimile: 604-687-1448 E-Mail: [email protected]
drilling and exploration activities. The Company provides forward -looking statements for the pu rpose 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 uncertaint ies 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 acti ons, 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 informati on 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.