Independence Gold Provides Update for the 3Ts Project, BC
Vancouver, April 11, 2024 - Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) (the "Company") is pleased to announce an update on its current drill program and that the Company has entered into an agreement with Fuse Advisors to undertake a scoping study 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.
Drilling Update
A drill program comprised of approximately 4,300 metres ("m") has commenced at the 3Ts Project, with the first phase focussing on drilling the Ted-Mint Vein System, specifically targeting previously untested zones from near surface (less than 50m depth) to deeper mineralized zones (greater than 350m depth). A total of 8 drill holes (approximately 1,535m) are planned to target the Ted-Mint Vein System. Once drilling has been completed at the Ted-Mint Vein System the drill will move to test deep targets along the Tommy Vein System. Six holes are planned totalling 1,745m with drill holes planned to test targets to a depth of 350m. Approximately 1,000m of drilling has been allocated to test step-out extensions for the newly discovered Ian and Johnny veins, and on geophysical targets at Balrog and Ootsa once interpretations of field and previous drill data have been completed.
Randy Turner, President, and CEO of the Company commented "We are very pleased with the results from the three previous drill programs undertaken at 3Ts and look forward to seeing how those results and the current drill program will further expand the existing 43-101 inferred resource at the Project." (see report titled "Technical Report on the Mineral Resource Estimate Update for the 3Ts Gold Project, Omineca Mining Division, British Columbia, Canada" authored by Armitage and Miller, effective August 18th, 2022; please see news release dated August 18, 2022 for further details).
Scoping Study
The Company is undertaking this internal scoping study to assess the economic potential of the 3Ts Project. The study aims to identify different technical concepts and to establish the fundamental project parameters for validation in the next phase of project development, including a high-level understanding of the project's potential and overall economics. Fuse Advisors brings to the table a wealth of experience in guiding exploration companies towards informed decision-making, project de-risking and value creation. Their proven track record in delivering actionable insights and innovative solutions aligns seamlessly with Independence Gold Corp.'s vision of sustainable growth and responsible resource development.
Randy Turner further commented, "Independence Gold is committed to advancing the 3Ts Project and we look forward to working with the team at Fuse Advisors on the scoping study to further enhance our understanding of the project's potential."
Corporate Update
The Company wishes to announce the granting of incentive stock options to certain directors, officers, employees and consultants to purchase up to 4,925,000 shares under the Company's Incentive Stock Option Plan. The options will be granted for a period of three (3) years, commencing on April 11th, 2024, exercisable at a price of $0.30 per share.
About Independence
Independence Gold Corp. is a well-financed 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 and approved the technical information in this news release.
ON BEHALF OF THE BOARD OF Independence Gold Corp.
"Randy Turner"
Randy Turner, President and CEO
Suite 580 - 625 Howe, Vancouver, British Columbia V6C 2T6
Telephone: 604-687-3959
Facsimile: 604-687-1448
E-Mail: info@ingold.ca
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205034
