Business
Golden Independence Mining Announces M&I Resource of 537,300 Gold Ounces and Inferred Resource of 943,500 Gold Ounces at the Independence Project
Vancouver, British Columbia--(Newsfile Corp. - May 19, 2021) - Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) ("Golden Independence") or
About this update from Nexus Uranium Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - May 19, 2021) - Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (\"Golden Independence\") or (the \"Company\") is pleased to announce its maiden National Instrument 43-101 (NI 43-101) compliant Mineral Resource Estimate (\"MRE\") for the Company's flagship Independence project located adjacent to Nevada Gold Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada. The MRE incorporates over 125,000 feet of RC and core drilling in 234 holes, outlining both a near surface and an underground resource. The Company is actively advancing the near surface portion of the MRE towards a Preliminary Economic Assessment anticipated by year-end 2021. Highlights of the MRE include: Near Surface Resource: Measured & Indicated Total Resource of 537,300 ounces of gold and 8.1 million ounces of silver plus an Inferred Total Resource of 147,300 ounces of gold and 1.2 million ounces of silver. Underground Resource: Inferred Resource of 796,200 ounces of gold. \"We are very pleased with the maiden NI 43-101 compliant resource for our Independence property which totals 537,300 gold ounces in M&I plus 943,500 gold ounces in Inferred with a substantial silver credit,\" commented Christos Doulis, CEO. \"This MRE, the near surface component of which will provide the foundation for a Preliminary Economic Assessment anticipated later this year, represents the first step in a transformational year for the Company as we rapidly advance the Independence project towards a production decision. In addition, our current drill program is focused on delineating additional near-surface mineralized material, including in the area of the recent high grade near surface discovery reported in hole AGEI-32, for a future resource update,\" he concluded. The Company commenced an 8,000-foot reverse circulation (RC) drill program in late April focused on expanding the near-surface high-grade oxide mineralization encountered in hole AGEI-32 (see news release dated March 16, 2021) and in delineating additional resources in the relatively sparsely drilled northern portion of the Independence project. The resource estimate was completed by James Ashton of Dyer Engineering with an effective date of May 17, 2021 and complies with National Instrument 43-101 and guidelines d...