Canada markets close in 4 hours 28 minutes
  • S&P/TSX

    19,126.75
    +18.98 (+0.10%)
     
  • S&P 500

    4,106.89
    +43.85 (+1.08%)
     
  • DOW

    33,985.06
    +397.40 (+1.18%)
     
  • CAD/USD

    0.8239
    -0.0006 (-0.07%)
     
  • CRUDE OIL

    64.08
    -2.00 (-3.03%)
     
  • BTC-CAD

    60,743.86
    -7,177.46 (-10.57%)
     
  • CMC Crypto 200

    1,354.67
    -33.23 (-2.39%)
     
  • GOLD FUTURES

    1,822.70
    -0.10 (-0.01%)
     
  • RUSSELL 2000

    2,162.59
    +27.45 (+1.29%)
     
  • 10-Yr Bond

    1.6760
    -0.0190 (-1.12%)
     
  • NASDAQ

    13,120.76
    +89.08 (+0.68%)
     
  • VOLATILITY

    23.75
    -3.84 (-13.92%)
     
  • FTSE

    6,973.93
    -30.70 (-0.44%)
     
  • NIKKEI 225

    27,448.01
    -699.50 (-2.49%)
     
  • CAD/EUR

    0.6819
    -0.0005 (-0.07%)
     

Golden Independence Intersects 1.436 g/t Gold and 179.5 g/t Silver over 65 Feet at Independence Project

  • Oops!
    Something went wrong.
    Please try again later.
Newsfile Corp.
·4 min read
  • Oops!
    Something went wrong.
    Please try again later.

Vancouver, British Columbia--(Newsfile Corp. - February 23, 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:

  • 0.845 g/t gold and 92 g/t silver over 130 feet (39.6 metres)

    • including 1.436 g/t gold and 179.5 g/t silver over 65 feet (19.8 metres)

    • including 3.318 g/t gold and 581.6 g/t silver over 15 feet (4.6 metres)

    • and including 1.274 g/t gold and 50 g/t silver over 20 feet (7.6 metres)

  • 0.521 g/t gold and 4.7 g/t silver over 165 feet (50.3 metres)

    • including 0.697 g/t gold and 7.0 g/t silver over 65 feet (19.8 metres)

  • 0.438 g/t gold and 8.7 g/t silver over 170 feet (51.8 metres)

    • including 1.287 g/t gold and 20.8 g/t silver over 15 feet (4.6 metres)

    • and 0.746 g/t gold and 23.9 g/t silver over 20 feet (6.1 metres)

"These are three of four holes testing the oxide resource to depth which also include a nice surprise of a higher grade pocket with significant silver," commented Golden Independence President Tim Henneberry. "Long intervals of + 0.5 g/t gold with higher grade intervals and some high grade pockets continue to confirm and expand the historic oxide resource," he continued.

"This third set of assay results further supports our belief that we will be able to significantly expand the historic oxide resource at the Independence project in the near term," remarked Golden Independence CEO Christos Doulis. "In addition to significant higher grade gold intercepts, recent drill results such as hole AGEI-28 demonstrate the Independence project's potential to host significant silver mineralization as well."



Figure 1

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7273/75132_6fb5d9ea44ab18ad_001full.jpg

http://goldenindependence.co/docs/GI-2020_DrillMap_AGEI_26-30.pdf

Table 1. 2020 Reverse Circulation Drill Results

Hole

ft from

ft to

ft length

m length

g/t gold

g/t silver

AGEI-26

145

435

290

88.4

0.375

3.6

including

170

335

165

50.3

0.521

4.7

including

260

325

65

19.8

0.697

7.0

and

675

795

120

36.6

0.313

2.6

AGEI-28

430

560

130

39.6

0.845

92.0

including

450

515

65

19.8

1.436

179.5

including

450

465

15

4.6

3.318

581.6

including

490

515

25

7.6

1.274

50.0

AGEI-30

365

535

170

51.8

0.438

8.7

including

365

380

15

4.6

1.287

20.8

and

510

530

20

6.1

0.746

23.9

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/7273/75132_6fb5d9ea44ab18ad_002full.jpg

https://goldenindependence.co/docs/CrossSection_AGEI-26-30.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/75132