Independence Gold Commences Drilling at 3Ts Project, BC
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 21, 2014) - Independence Gold Corp. (TSX VENTURE:IGO) (the "Company") is pleased to announce the commencement of a 3,500 metre (m) diamond drilling program at its 100% owned 3Ts Project. The 3Ts Project is located approximately 185 kilometres ("km") southwest of Prince George, British Columbia and 20 km southwest of New Gold Inc.'s Blackwater gold deposit. The 3Ts Project is comprised of fourteen mineral claims covering approximately 4,934 hectares in the Nechako Plateau region of central British Columbia. For additional information, please visit the Company's website at www.ingold.ca.
There is excellent potential to discover new, well-mineralized quartz-carbonate veins within the 3Ts Project area. With that objective, the Company designed a $900,000 drill campaign to test previously identified targets in three highly prospective target areas within the 3Ts property.
Ringer Target Area
Eight samples from well-mineralized vein float boulders at the Ringer Target averaged 19.0 g/t gold with 140 g/t silver. Additional mineralized boulders from east and north of the Ringer Target contain 18.0 g/t gold with 176 g/t silver, 8.2 g/t gold with 81 g/t silver and 7.0 g/t gold with 202 g/t silver. A 2003 vein float sample from Adrian Creek, east-southeast of the Ringer Target, assayed 89.8 g/t gold with 592 g/t silver. The area north and east of the Ringer Target contains geochemical gold-in-till anomalies (maximum 64 ppb) that are up to approximately 450 m across, in addition to the well-mineralized vein float boulders. Several linear, northerly trending ground magnetic features, that are probably associated with fault structures, cross the Ringer Target area. The coincidence of geochemical and geophysical anomalies with well-mineralized vein float indicates that the Ringer Target area has excellent potential for the discovery of new mineralized veins. Several holes will be drilled within this target area during the summer 2014 drilling program.
Butch Vein Target Area
The Butch Vein Target area is located approximately 400 m west of the central part of the Ted-Mint Vein, an area with little or no previous drilling. Drilling will test for the bedrock source of well-mineralized vein float boulders which assayed up to 37.0 g/t gold with 202 g/t silver. Surface samples of vein material from both the Butch Vein structure and the Swamp Zone (200 m east of the Butch Vein) contain anomalous gold concentrations. Glacial tills from the Swamp Zone contain from 7 to 34 parts per billion ("ppb") gold, and tills from the Butch Vein area contain up to 77 ppb gold. Drilling in this target area will also test for the presence of a mineralized vein along a northerly trending fault structure which was identified during 2013 geological mapping program; all of the known mineralized veins at the 3Ts Project occur along northerly trending faults.
South Ted Target Area
More than 60 vein float boulders have been found between 50 to 200 m south of the Ted-Mint Vein. Drilling will test for the bedrock source of these vein float boulders, which assay up to 7.2 g/t gold with 130 g/t silver. In addition, soils from this boulder-rich area locally contain anomalous concentrations of gold, up to 73 ppb.
An increased NI 43-101 compliant inferred resource estimate has been calculated for the Tommy, Ted and Mint veins within the 3Ts Project property. Using a 1 g/t gold cutoff grade, the total Inferred Resource for these three veins is 5,452,000 tonnes grading 2.52 g/t gold and 71.5 g/t silver for 441,000 contained ounces of gold and 12,540,000 contained ounces of silver (see news release dated May 6, 2014). A NI 43-101 technical report detailing both the updated resource estimate and the Company's recent exploration at the 3Ts Project has been filed on SEDAR May 13, 2014; a copy of this report has been posted on our website www.ingold.ca.
Independence Gold Corp. is a well-financed exploration company focused mainly on gold projects in British Columbia. David Pawliuk, P.Geo., the Company's Qualified Person, as defined by NI 43-101, for the 3Ts Project has reviewed the technical information in this news release.
INDEPENDENCE GOLD CORP.
Randy Turner, President
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.