Independence Gold Announces Exploration at Spences Bridge Projects
27 August 2020 - 2:30PM
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 2019 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 bodies. The
2020 program will further delineate and extend the strike length of
these target zones and define future drill exploration programs.
Drill permits are currently in the final stages for both
projects.
Merit Project
The Merit Project is located approximately 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 magnetic surveys, which identified
several coincident geochemical 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 program highlighted seven target zones,
results of which are highlighted in the table below. These 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 15 km southeast of Lytton,
accessible by highway and well-developed forestry trails.
Exploration in 2019 included the collection of
41 surface rock samples, 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 mineralized chalcedonic quartz veins, returning up
to 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 |
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 IndependenceIndependence
Gold Corp. (TSX.V:IGO) is a mineral exploration company listed on
the TSX Venture Exchange. The Company’s holdings range from
early-stage grassroots exploration to advanced-stage resource
expansion 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 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 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 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
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.
For further information please contact Randy Turner at
604-687-3959 or info@ingold.ca.
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