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Independence Gold Announces $500,000 Budget for BC Exploration and Provides a Corporate Update
VANCOUVER, British Columbia, June 03, 2019 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V: IGO) ("Independence" or "the Company") is pleased to announce the
About this update from Independence Gold Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, June 03, 2019 (GLOBE NEWSWIRE) -- Independence Gold Corp. (TSX.V: IGO) (\"Independence\" or \"the Company\") is pleased to announce the commencement of the Company’s summer field programs in British Columbia. The Company plans to spend $200,000 on their 100% owned 3Ts Project, located 20 kilometres (“km”) southwest of New Gold Inc’s Blackwater Project and an additional $300,000 on their Spences Bridge Area Projects, Merit and Nicoamen located 20 and 40 km respectively, northwest of Westhaven Ventures Inc.’s Shovelnose property (see www.ingold.ca for further information). 3Ts ProjectThe 3Ts Project is an epithermal quartz-carbonate vein system with a calculated inferred resource estimate containing 441,000 ounces of gold and 12,540,000 ounces of silver. The Company has completed a comprehensive review and analysis of the historical information and identified 16 high priority areas that require further exploration. This is in addition to previously known targets that lie along strike and at depth to more than 12 mineralized veins previously identified on the property and areas containing well mineralized vein float boulders, such as the Ringer Target which yielded eight samples that averaged 19.0 grams per tonne (“g/t”) gold and 140 g/t silver. The Company plans to conduct detailed bedrock and alteration mapping across the entire property, while ground truthing potential drill sites for a future program. The Company is also planning a detailed magnetic survey over the central portion of the project area, which contains the known veins. A National Instrument 43-101 compliant Inferred Resource Estimate has been calculated for the Tommy, Ted and Mint veins. Using a 1 g/t gold grade cut-off, 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. This inferred resource estimate is based on a database of 205 drill holes (41,450 m) with 4,449 assay values (see news release dated May 6, 2014). Merit PropertyThe Merit Property contains three anomalous zones of alteration and mineralization – Discovery Hill, Sullivan Ridge and the West Zone. Characterized by strong silica and carbonate alteration of andesitic breccias, the mineralized ...