Independence Gold Commences Drilling at 3Ts Project, BC
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/27/13 -- Independence Gold Corp. (TSX VENTURE: IGO) (the "Company") is pleased to announce the commencement of a $1,800,000 diamond drilling program at its 100% owned 3Ts Project, located approximately 185 kilometres ("km") southwest of Prince George, British Columbia and situated 20 km southwest of New Gold's Blackwater Project. For additional information, please visit the Company's website www.ingold.ca.
This program will consist of a minimum of 3,500 metres (m) of diamond drilling in the Mint, Ted, Tommy and Larry Vein targets, and is a follow-up to the drill program carried out during October and November 2012 during which a mineralized quartz-carbonate vein was discovered in the gap between the Mint Vein and the Ted Vein (see the Company's news release dated January 29, 2013).
The best drill intercept from this newly-discovered vein averaged 6.08 grams per tonne ("g/t") gold and 62.0 g/t silver across 10.0 m in hole TT12-71. The first drill holes of the 2013 drill program are designed to better-define the mineralized vein structure in this area. Additional drill holes are designed to test for mineralized extensions of the Ted, Tommy and Larry veins.
Well-mineralized vein float boulders on the 3Ts property indicate there is excellent potential to discover new mineralized veins within the project area. These mineralized vein boulders (described in the Company's National Instrument (NI) 43-101 technical report filed on SEDAR December 23, 2011) include the Ringer Target, of which eight samples averaged 19.01 g/t gold and 140.1 g/t silver.
A National Instrument 43-101 compliant inferred resource estimate has been calculated for the Tommy, Ted and Mint Veins. Using a 1 g/t gold cutoff grade, the total Inferred Resource for these three veins is 3,614,072 tonnes grading 3.39 g/t gold and 85.15 g/t silver for 394,383 contained ounces of gold and 9,894,835 contained ounces of silver (see news release dated January 20, 2012). This inferred resource estimate does not incorporate results from the 2012 diamond drilling at the 3Ts.
The 3Ts Project is comprised of thirteen mineral claims covering approximately 4,433 hectares in the Nechako Plateau region of central British Columbia. The 3Ts Project covers an epithermal quartz-carbonate vein system within which more than a dozen individual mineralized veins, ranging up to 900 m in strike length and up to 20 m in true width, have been identified.
Independence Gold Corp. is a well-financed exploration company focused mainly on gold and silver projects in British Columbia and the Yukon. David Pawliuk, P.Geo., the Company's Qualified Person, as defined by NI 43-101, for the 3Ts Project has reviewed the technical information in this news release.
INDEPENDENCE GOLD CORP.
Randy Turner, President
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.
Contacts:
Independence Gold Corp.
Investor Relations
604-687-3959
604-687-1448 (FAX)
info@ingold.ca
www.ingold.ca
