Independence Gold rallies on B.C. drill results

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Independence Gold Corp. [IGO-TSXV; IEGCF-OTC] on Thursday June 3 released more results from a 4,500-metre drilling program as well as a geophysical survey on its 100%-owned 3Ts project located in central British Columbia, approximately 185 km southwest of Prince George.

The 3Ts project is situated 20 km 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 3Ts 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.

The 2021 winter drill program was designed to test significant gaps within historical drilling of the Tommy and Ted-Mint vein systems, both along strike and at depth, as well as previously untested targets.

On Thursday, the company said the second hole of the 4,500-metre drilling program (hole 3T-21-08) targeted the Tommy Vein at depth below the microdiorite sill, intersecting a zone of brecciated quartz carbonate at 238.20 metres.

Drilling highlights include 37 metres of grade 2.45 g/t gold and 29.36 g/t silver. The remaining drill programs have been submitted for analysis and results are pending.

Independence Gold shares advanced on the news, rising 3.4% or $0.005 to 15 cents in light trading volume. The shares trade in a 52-week range of 22.5 cents and $0.045.

The company said Dias Geophysical has completed a major geophysical survey covering 8 km2 on the property. The aim of the survey was to obtain imagery of the geology beneath the microdiorite sill.

The company said preliminary results of the survey are encouraging and show a strong correlation between low resistivity anomalies and the known veins both on surface and at depth, as well as new previously undiscovered vein systems.

An NI 43-101-compliant inferred resource estimate has been calculated for the Tommy and Ted-Mint veins. Using a 1.0-gram per tonne gold cut-off grade, the total inferred resource for these three veins is 5.4 million tonnes grading 2.52 g/t gold and 71.5 g/t silver or 441,000 contained ounces of gold and 12.5 million contained ounces of silver.

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