VANCOUVER, British Columbia, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Independence Gold Corp. (IGO.V) ("Independence" or "the Company") is pleased to announce drill results from four of nine Diamond drill holes completed this summer on the Company’s 100% owned Boulevard Project, contiguous to Goldcorp Inc’s Coffee Gold Deposit in the White Gold District, Yukon. The best intercept in these four holes is 3.10 grams per tonne (“g/t”) gold over 1.5 metres (“m”) including 76.2 g/t gold in the coarse fraction (24.1 g) of a 875 grams (“g”) sample over the same interval.
A total of 977.5 m of Diamond drilling was completed in 9 holes within the Sunrise/Sunset Zone, located 8.5 kilometres (“km”) southwest of the Coffee deposit. Drilling focused primarily on the intersection of the Sunrise and Sunset trends which have been identified as multi-element soil geochemical anomalies and were confirmed by reverse circulation (“RC”) drilling in previous years. Significant intercepts from this year’s Diamond drilling program are presented in the table below. A table of all 2017 drill results and a map showing the drill hole locations is posted on the Company’s website.
| |
| Drill hole | From (m) | To (m) | Length (m) | Au (g/t) by
Fire Assay | Au (g/t) by
Screen Metallics
(Coarse Fraction
>106 microns) | Au (g/t) by
Screen Metallics
(Fine Fraction
<106 microns) |
| BV17-58 | 53.5 | 55.0 | 1.5 | 3.10* | 76.20 | 1.01 |
| And | 91.5 | 95.0 | 3.5 | 0.40 | - | - |
| BV17-60 | 13.0 | 17.5 | 4.5 | 2.97* | 14.03 | 2.56 |
| BV17-61 | 81.0 | 88.0 | 7.0 | 0.47 | - | - |
| BV17-62 | 41.0 | 42.0 | 1.0 | 0.61 | - | - |
| And | 92.0 | 99.0 | 7.0 | 0.10 | - | - |
| Length represents the apparent thickness of the mineralization and should not be considered as the true width |
| *Fire Assay by Screen Metallic – weighted average of the coarse and fine fractions of the Screen Metallic analysis |
| |
Samples from this year’s program have exhibited a nugget effect in the gold mineralization. Therefore, all samples from this program with fire assay results greater than 1 g/t gold have been further analysed by screen metallics to determine the amount of gold in the coarse fraction (greater than 106 microns) and the amount of gold in the fine fraction (less than 106 microns).
Drill holes BV17-58 and 62 were follow-up drill holes to RC hole BV16-54 which intersected 1.58 g/t gold over 39.6 m including 7.73 g/t gold over 6.1 m. BV17-58 and 62 both ended in minimally anomalous gold zones, suggesting that mineralization remains open and may continue at depth. Drill hole BV17-58 intersected 1.5m wide interval of quartz biotite schist with moderate to strong silica alteration associated with multiple 0.5-4.0 centimetre wide cross-cutting quartz veins. Disseminated pyrite was observed throughout the interval while stibnite was observed in association with the cross-cutting quartz veins.
Drill hole BV17-60 and 61 were follow-up drill holes to RC hole BV15-40 which intersected 15.00 g/t gold over 3.1 m including 27.90 g/t gold over 1.5 m. BV17-60 intersected a 4.5 m wide interval of quartz biotite schist intruded by white massive quartz veining with disseminated pyrite. This intercept exhibited a nugget effect which resulted in 14.03 g/t gold found in the coarse fraction during a screen metallic analysis
All four holes have azimuths that vary from 070 to 080 degrees with dips of -45 to -55 degrees. Results from the remaining fives holes, including three holes that followed-up on BV15-31 which intercepted 3.21 g/t gold over 29 m including 7.23 g/t gold over 12.2 m, are still pending.
All samples were submitted to SGS Minerals Services in Burnaby, BC for sample preparation by crushing to 75% less than 2 millimetres, creation of a 250 g split, and then pulverizing to 85% passing 75 microns. Sample pulps were submitted for a 52 element analysis using an aqua regia digest and ICP-AES and ICP–MS analysis (GE-ICM14B) and for gold analysis with a 30 g fire assay and AAS finish (code GE-FAA313). Samples resulting in greater than 1 g/t of gold were then re-submitted for analysis by screen metallics. A 1,000 g sample was taken from the reject, crushed to 2 mm and split. A representative sample of approximately 100 g was taken. This sample was pulverized and screened to 106 microns. The plus 106 micron fraction was submitted for fire assay, the minus fraction was split and two 30 g aliquots were submitted for fire assay. Final assays were weight ratioed back to the representative sample weight (code FAS51K). Control samples (accredited gold standards and blanks) were inserted into the sample sequence on a regular basis to monitor precision of results. No QAQC concerns were identified.
About Independence
Independence Gold Corp. (IGO.V) is a mineral exploration company listed on the TSX Venture Exchange. With a portfolio of projects in the Yukon and the 3Ts Project in British Columbia, the Company’s holdings range from early-stage grassroots exploration to advanced-stage resource expansion. For additional information, visit the Company's website www.ingold.ca.
Kendra Johnston, P.Geo., the Company’s Qualified Person as defined by National Instrument 43-101 for the White Gold District projects, has reviewed the technical information in this news release.
ON BEHALF OF THE BOARD of Independence Gold Corp.
“Michael McPhie”
Interim Chairman, CEO and Director
For more information, contact:
Kendra Johnston, Interim President
T: 604-687-3959
E: kjohnston@ingold.ca
W: www.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.