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Golden Independence Intersects 1.043 g/t Gold and 2.8 g/t Silver over 40 Feet at Independence Project

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Newsfile Corp.
·4 min read
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Vancouver, British Columbia--(Newsfile Corp. - March 3, 2021) - Golden Independence (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company") is pleased to announce the next series of drill results from its recently completed 2020 resource expansion drill program at the Independence project, south of Battle Mountain, Nevada. Results from these three reverse circulation (RC) holes include:

  • 0.454 g/t gold and 5.8 g/t silver over 120 feet (36.6 metres)

    • and 1.043 g/t gold and 2.8 g/t silver over 40 feet (12.2 metres)

  • 0.314 g/t gold and 5.6 g/t silver over 270 feet (82.3 metres)

    • including 1.473 g/t gold and 23.3 g/t silver over 20 feet (6.1 metres)

  • 0.274 g/t gold and 3.6 g/t silver over 405 feet (123.4 metres)

    • including 0.475 g/t gold and 3.4 g/t silver over 70 feet (12.3 metres)

"These are the first of a series of Golden Independence holes testing the intrusive at the north end of the property," commented Golden Independence President Tim Henneberry. "While the oxides grades in the intrusive are a little lower than the chert, we continue to intersect good long intervals of continuous lower-grade mineralization with shorter higher-grade intervals. The deeper intersection in AGEI-23 of 1.043 g/t gold between 640 and 680 feet is significant as it is suggesting a potential deeper mineralized zone," he continued. "We continue to expand the mineralized footprint at Independence as we work toward a mid H1 new resource estimate," he concluded.

"While gold grades are a little lower in the intrusive, the project continues to return significant lengths of mineralized material from surface," noted Golden Independence CEO Christos Doulis. "These results continue to support our belief that we will be able to significantly expand the historic oxide resource at the Independence project in the near term."

Figure 1

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7273/75907_5f42586124b608b6_001full.jpg

or

https://goldenindependence.co/docs/GI-2020_DrillMap_AGEI_22-24.pdf

Table 1. 2020 Reverse Circulation Drill Results

Hole

ft from

ft to

ft length

m length

g/t gold

g/t silver

AGEI-22

0

405

405

123.4

0.274

3.6

including

30

100

70

21.3

0.475

3.4

AGEI-23

25

145

120

36.6

0.454

5.8

and

640

680

40

12.2

1.043

2.8

AGEI-24

0

270

270

82.3

0.314

5.6

including

225

245

20

6.1

1.473

23.3

and

360

510

150

45.7

0.493

5.0

All assay results are drill widths not true widths, which is undetermined at this time.

Figure 2

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7273/75907_5f42586124b608b6_002full.jpg

or

https://goldenindependence.co/docs/CrossSection_AGEI-22-24.pdf

Quality assurance

All samples were shipped to the ALS Minerals prep lab in Elko, Nevada with analyses completed at the ALS Minerals Lab in Reno, Nevada. Both facilities are ISO 9001:2015 and ISO/IEC 17025:2017 certified. All samples are analyzed utilizing ALS ME-ICP41 procedure, an aqua regia digestion with ICP-AES finish, with gold determined by the Au-AA23 procedure, a 30-gram fire assay with AAS finish. ALS Minerals is independent from Golden Independence. Golden Independence institutes a rigorous QA/QC program of duplicate samples, blanks and standards. Based on a review of the QA/QC data is not aware of any other factors that could materially affect the accuracy or reliability of the data referred to herein.

R. Tim Henneberry, PGeo (British Columbia), President and Director of Golden Independence Mining Corp., is the qualified person who has reviewed and approved the technical content of this news release on behalf of the company.

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is an exploration company currently focused on exploring the advanced-stage Independence Gold Property located in the Battle Mountain-Cortez Trend, Nevada and the Champ precious metal property near Castlegar, British Columbia. The Independence Gold Property benefits from over US$25 million in past exploration, including over 200 holes drilled, and is located adjacent to Nevada Gold Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada.

FOR FURTHER INFORMATION PLEASE CONTACT:

Christos Doulis, Chief Executive Officer
Telephone: 1.647.924.1083 Email: christos@goldenindependence.co

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/75907