Independence Gold Corp.
TSX VENTURE : IGO

Independence Gold Corp.

August 02, 2016 08:00 ET

Independence Gold Discovers New Gold Anomaly on the Boulevard Project, Yukon

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 2, 2016) - Independence Gold Corp. (TSX VENTURE:IGO) ("Independence" or "the Company") is pleased to announce the discovery of the Kahiltna gold anomaly during its Phase One exploration program on the 100% owned Boulevard Project, located contiguous to Goldcorp Inc's Coffee Gold Deposit in the White Gold District, Yukon.

The Kahiltna anomaly is a 1,200 metre ("m") long gold-arsenic-antimony soil geochemical anomaly located 750 m north of and subparallel to the Denali Zone. The anomaly extends east to the Boulevard-Coffee property boundary and is open along trend to the west. This anomaly has been identified by 75th percentile gold, arsenic and antimony values, which range from below detection to 289 parts per billion ("ppb") gold, 1,110 parts per million (ppm) arsenic and 44 ppm antimony. This anomaly is underlain by an extensive assemblage of quartz biotite schists with interlayered quartzite horizons. Independence is currently conducting a reverse circulation ("RC") drilling program on the Boulevard Project and intends to drill test the newly identified Kahiltna anomaly.

The Company is also pleased to announce that it has extended the soil geochemical anomaly, identified by 75th percentile gold and arsenic on the Moosehorn Project from 1,200 m to 1,400 m along trend and the anomaly is still open to the north. In addition, Independence excavated a total of 527 m in three trenches on Moosehorn, confirming gold mineralization in sub-crop in each trench. Trench 1 intersected 2.0 m of 5,140 ppb gold. Trench 2 intersected 6.0 m of 730 ppb gold and 6.0 m of 524 ppb gold. Detailed quartz vein sampling within the anomalous zones of trench 2 returned values ranging from 100 to 1,600 ppb gold. All gold values occur within a broader arsenic halo with values ranging from below detection to 3,990 ppm arsenic. The Moosehorn Project is underlain by a granodiorite intrusion and is situated approximately two kilometres south of an active placer gold operation.

Samples were submitted to SGS Minerals Services in Burnaby, BC for sample preparation by crushing to 75% less than 2 millimetres, creation of a 250 gram ("g") split, and then pulverizing to 85% passing 75 microns. Sample pulps are submitted for gold analysis with a 30 g fire assay and AAS finish (code GE-FAA313). Samples are also submitted for a 52 element analysis using an aqua regia digest and ICP-AES and ICP-MS analysis (GE-ICM14B). Control samples (accredited gold standards and blanks) are inserted into the sample sequence on a regular basis to help monitor precision of results.

David Gale, P.Geo., the Company's Qualified Person as defined by National Instrument 43-101 for the White Gold District, has reviewed the technical information in this news release.

Independence Gold Corp. (TSX VENTURE:IGO) is a well-financed mineral exploration company listed on the TSX Venture Exchange, with a portfolio of projects in the Yukon and the 3Ts Project located in British Columbia. The Company's holdings range from early stage grassroots exploration to advanced-stage resource expansion. For additional information, please visit the Company's website www.ingold.ca.

INDEPENDENCE GOLD CORP.

Randy Turner, President & CEO

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.

Contact Information

  • Independence Gold Corp.
    Corporate Development
    604-687-3959
    info@ingold.ca