Independence Gold eyes resource expansion at B.C. project
Independence Gold Corp. [IGO-TSXV] has launched a fall drilling program at its 100%-owned 3Ts project, which is located in central British Columbia, approximately 185 kilometres southwest of Prince George.
The 3Ts project is situated 20 kilometres southwest of Artemis Gold Inc.’s [ARTG-TSXV] Blackwater Gold project which is estimated to host a measured and indicated resource of 12.4 million AuEq ounces (597 million tonnes at 0.65 g/t AuEq, 0.61 g/t gold, and 6.4 g/t silver).
The fall drilling program is expected to consist of 16 drill holes, covering 2,000 metres and will focus on the recently announced Johnny and Ian veins as well as the Ootsa copper-silver target. In addition, drilling will also focus on the southern extension of the Ted-Mint Vein System in which targets have been selected based on a NI-43-101 compliant resource estimate.
“We hope to further expand the current inferred resource with additional drill holes that will infill areas between the major vein systems,’’ said Independence President and CEO Randy Turner.
The 3Ts covers a low-sulphidation epithermal quartz-carbonate vein district, within which more than a dozen individual mineralized veins have been identified. These veins range in size from 50 metres to more than 1,100 metres and true widths of up to 25 metres.
Back in March, 2023 Independence released an updated NI 43-101-compliant resource calculation for its 100%-owned 3Ts project, which is located in central British Columbia, approximately 185 kilometres southwest of Prince George.
The combined in-pit and underground components of the Tommy and Ted-Mint vein systems contain a total inferred resource of 4.47 million tonnes of grade 3.64 g/t gold and 96.26 g/t silver, at a cut-off grade of 0.4 g/t gold equivalent (AuEq) in pit and 2.0 g/t AuEq underground, containing 522,330 ounces of gold and 13.8 million ounces of silver.
That includes an underground resource of 267,936 ounces gold, and 6.07 million ounces of silver, and an in-pit resource of 254,395 ounces of gold and 7.7 million ounces of silver.
Independence Gold shares were unchanged at 15.5 cents on Tuesday. The shares are currently trading in a 52-week range of 18.5 cents and $0.04.
The 3Ts project consists of 15 mineral claims covering 5,200 hectares in the Nechako Plateau region of central British Columbia. It is comprised of the Tsacha, Taken, Tam, Tommy Bot and Blackwater South properties.
The first gold-bearing quartz vein was discovered in 1993 at Tommy Lake by a B.C. government mapping crew. Independence Gold has continued to explore the project with recent work, including mapping geophysics, drilling and metallurgy at three main targets, including the Ted-Mint Vein, the Tommy Vein and Ringer Target.