Golden Independence drills 70 feet of 1.71 g/t gold at Independence project, Nevada

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Golden Independence Mining Corp. [IGLD-CSE] reported the remaining drill results from its recently completed phase II drill program at the Independence project, south of Battle Mountain, Nevada. The reverse circulation program targeted the main oxide gold zone as well as the intrusive gold target.

Results for four holes from the main oxide zone include 1.06 g/t gold and 8.9 g/t silver over 85 feet (25.9 metres); 0.76 g/t gold and 8.4 g/t silver over 245 feet (74.7 metres), including 1.20 g/t gold and 16.8 g/t silver over 100 feet (30.5 metres); 0.61 g/t gold and 4.0 g/t silver over 320 feet (97.5 metres), including 1.71 g/t gold and 6.0 g/t silver over 70 feet (21.3 metres).

“Three of the four remaining oxide holes intersected +1 g/T gold intervals over 70 to 100 feet with two of those returning longer intervals of 0.60 to 0.76 g/t gold over 245 to 320 feet in the main oxide zone,” commented Tim Henneberry, president. “We continue to intersect longer +0.5 g/t gold intervals hosting shorter +1 g/t gold intervals within the main oxide zone and our Phase II results will positively impact the upcoming resource update for the Independence project,” he concluded.

“Intercepts such as the 100 feet of 1.2 g/t gold and 8.4 g/t silver in hole AGEI-58 as well as previous results including 80 feet of 9.1 g/t gold and 25.2 g/t silver in hole AGEI-32 continue to demonstrate the higher grade potential of the main oxide gold zone at the Independence project,” stated Christos Doulis, CEO. “Results from our now complete Phase II drill program will be included in a resource update as part of a PEA on the project’s near surface resource.”

Golden Independence Mining is an exploration company currently focused on exploring the advanced-stage Independence project located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada.

The Independence project hosts a Measured and Indicated resource of 537,300 ounces of gold and Inferred resources of 943,500 ounces of gold with 8.1 million ounces of silver in near-surface mineralization. The underground portion has Inferred resources of 796,200 ounces of gold. The company is advancing the near-surface resource towards a production decision with a PEA anticipated in late 2021.

 


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