November 18, 2015
Independence Gold intercepts 15.00 g/t gold across 3.05 m at the Sunrise Zone, Yukon
Vancouver, BC - Independence Gold Corp. (TSX.V: IGO)
(the 'Company') is pleased to announce results from follow-up drilling at its Sunrise Zone on the Boulevard Project. The best intercepts were 15.00 grams per tonne (g/t) gold across 3.05 metres (m) and 0.94 g/t gold across 22.86 m. The Company completed a total of 1,093 m (8 holes) of reverse circulation (RC) drilling at the Sunrise Zone. The Boulevard Project is located 135 kilometers (km) south of Dawson City, Yukon and is contiguous to the Coffee Gold Project owned by Kaminak Gold Corporation.
The fall 2015 RC drill program was designed to extend gold mineralization at the Sunrise Zone, where 7.23 g/t gold across 12.2 m was intercepted in hole BV15-31, the discovery hole, during the summer 2015 drill program (see news release dated August 24, 2015). The fall follow-up drill program tested one of several northeast-trending multi-element soil geochemical anomalies coincident with magnetic low features. These anomalies are sub-parallel to mineralized trends at Kaminak's Coffee Gold deposit located 9 km northeast of the Sunrise Zone.
Significant results from the fall 2015 RC drill program at the Sunrise Zone are outlined below:
|
Drill Hole
|
From (m)
|
To (m)
|
Length (m)*
|
Au (g/t)
|
|
BV15-35
|
45.72
|
68.58
|
22.86
|
0.94
|
|
incl.
|
53.34
|
54.86
|
1.52
|
2.78
|
|
and
|
62.48
|
64.01
|
1.53
|
2.13
|
|
BV15-36
|
57.91
|
67.06
|
9.15
|
0.40
|
|
incl.
|
57.91
|
59.44
|
1.53
|
1.04
|
|
BV15-37
|
73.15
|
89.92
|
16.77
|
0.30
|
|
|
131.06
|
137.20
|
6.10
|
0.49
|
|
BV15-39
|
74.68
|
80.77
|
6.09
|
0.63
|
|
BV15-40
|
24.38
|
27.43
|
3.05
|
15.00
|
|
incl.
|
24.38
|
25.91
|
1.53
|
27.90
|
|
BV15-42
|
3.05
|
4.57
|
1.52
|
2.10
|
|
|
91.44
|
96.01
|
4.57
|
1.63
|
|
*True thickness estimated to be 60-70% of drill intercepts
|
The mineralized intercept in hole BV15-40 assayed 15.00 g/t gold across 3.05 m. This intercept includes 27.90 g/t gold across 1.53 m in weakly oxidized and sericite-altered quartzite, in combination with 2.10 g/t gold across 1.52 m in weakly oxidized, sericite-altered quartz-biotite schist. The sulphide mineral and quartz vein content, as well as the associated pathfinder element concentrations, within the mineralized intercept in hole BV15-40 are unlike those associated with the mineralized intercept in discovery hole BV15-31. These differences imply that two separate, chemically distinct episodes of high grade gold mineralization have occurred at the Sunrise Zone. Further drilling is required to determine the relationship between these mineralized intercepts.
Hole BV15-35 is an inclined 'scissor' hole to hole BV15-31, and was drilled in an attempt to determine the geometry and attitude of the mineralized zone. The mineralized intercept in hole BV15-35 assayed 0.94 g/t gold across 22.86 m, hosted mainly within quartzite. Holes BV15-36 and BV15-37 were drilled 25 m on either side of, and parallel to, hole BV15-35; both of these holes intersected anomalous gold mineralization. Gold mineralization at the Sunrise Zone appears to occur within north-northeast striking, steeply dipping structures with variable amounts of both sulphide minerals and vein quartz. To view the latest drill map, please click here.
Additional northeast-trending multi-element soil geochemical anomalies coincident with magnetic low features remain to be drill tested in the Sunrise area. Further drilling will be required to better understand the character and orientation of the mineralized structures at the Sunrise Zone.
Thirteen km to the northwest of the Sunrise Zone is the Denali Zone, the second new discovery identified during summer 2015 drilling at the Boulevard Project (see news release dated August 24, 2015). The best drill intercept to date at Denali is 4.25 g/t gold over 6.10 metres, with mineralization open both along strike and down-dip. Recent re-interpretation of the geochemical and geophysical data from the Denali area suggests that there is excellent potential for another, similar mineralized structure to occur at Denali. This feature is a high priority drill target.
David Pawliuk, P.Geo., the Company's Qualified Person as defined by National Instrument 43-101 for the Boulevard Project, has reviewed the technical information in this news release. Quality assurance and quality control procedures include systematic insertion of blanks and standards into the sample sequence. Samples are placed in sealed bags and shipped directly to SGS Canada Inc.'s analytical facility in Burnaby, BC for preparation, aqua regia inductively coupled plasma (ICP) element analysis and fire assay analysis.
Independence Gold Corp. (TSX.V:IGO) is a well-financed mineral exploration company listed on the TSX Venture Exchange. With multiple projects in the Yukon, and the 3Ts Project located in British Columbia, the portfolio ranges from early stage grassroots exploration to advanced-stage resource expansion. For additional information please visit the Company's website www.ingold.ca.
INDEPENDENCE GOLD CORP.
'Randy Turner'
Randy Turner, President & CEO
For further information please contact Investor Relations at 604-687-3959 or [email protected]
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.