Independence Gold updates 3Ts Project, British Columbia
Independence Gold Corp. [TSXV-IGO; OTCQB-IEGCF] updated 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 km southwest of Prince George, British Columbia and situated 16 km southwest of Artemis Gold’s Blackwater Project.
A drill program comprised of approximately 4,300 metres has commenced at the 3Ts Project, with the first phase focusing 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, 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.”
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.
The granted 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 three years, commencing on April 11, 2024, exercisable at a price of $0.30 per share.