Golden Independence Expands Drill Program
Golden Independence Expands Drill Program
Vancouver, British Columbia--(Newsfile Corp. - November 23, 2020) - Golden Independence (CSE:
IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company") is pleased to announce it has expanded and
extended the 2020 drill program 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.
The current program is being expanded to approximately 18,000 feet, to be comprised of 20 - 22
reverse circulation drill holes and 3 - 5 diamond core holes. This represents a significant increase from
the initial 12,000-foot drill program, announced on October 6
th
, 2020, of 14 reverse circulation and 3
diamond core holes. The program expansion resulted from the alteration and mineralization noted by the
technical team in the drill chips combined with costs coming in 40% under budget due to tight control.
Drill chips from the 16 reverse-circulation holes completed to date are awaiting processing and analysis
at the ALS Minerals lab in Elko.
"The experienced drilling crew and favorable drilling conditions at Independence have kept costs around
40% under budget to date, allowing the significant program expansion," commented CEO Tim
Henneberry. "The additional 4 to 8 RC and core holes will both target extension of the known
mineralization to the north and provide further material for the metallurgical work required to initiate the
Independence permitting process. These new holes will also increase the drill database for the Q1/2021
resource update and further assist with our environmental permit application submittal in H2/2021."
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. 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. Nevada Gold Mines is a joint venture owned 61.5% by Barrick
Gold Corporation and 38.5% by Newmont Corporation.
FOR FURTHER INFORMATION PLEASE CONTACT:
R. Tim Henneberry, Chief Executive Officer
Telephone:
1-833-700-IGLD (4453)
Email:
www.goldenindependence.co
Forward Looking Information
This press release contains forward-looking information (within the meaning of applicable Canadian
securities legislation) that involves various risks and uncertainties regarding future events. Such
forward-looking information includes statements based on current expectations involving a number of
risks and uncertainties and such forward-looking statements are not guarantees of future performance
of the Company, and include, without limitation, statements relating to plans and results of exploration
and the magnitude and quality of the Independence Property, the Company's near term exploration
plans and the preparation of an updated mineral resource statement for the Independence Property.
There are numerous risks and uncertainties that could cause actual results and the Company's plans
and objectives to differ materially from those expressed in the forward-looking information in this news
release, including without limitation, the following risks and uncertainties; (i) risks inherent in the
mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and
development of mineral properties and the risk that such results cause the Company to elect to
terminate the Option Agreement; (iv) risks relating to the estimation of mineral resources; (v) stock
market volatility and capital market fluctuations; and (vi) general market and industry conditions.
Actual results and future events could differ materially from those anticipated in such information. This
forward-looking information is based on estimates and opinions of management on the date hereof
and is expressly qualified by this notice. Risks and uncertainties about the Company's business are
more fully discussed in the Company's disclosure materials filed with the securities regulatory
authorities in Canada at
www.sedar.com
. The Company assumes no obligation to update any forward-
looking information or to update the reasons why actual results could differ from such information
unless required by applicable law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/68723