Business
Golden Independence Mining Provides PEA and Corporate Updates
Vancouver, British Columbia--(Newsfile Corp. - October 6, 2021) - Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) ("Golden Independence"
About this update from Nexus Uranium Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - October 6, 2021) - Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (\"Golden Independence\" or the \"Company\") is pleased to provide an update on the Preliminary Economic Assessment (\"PEA\") for the Independence project (\"Independence Project\") and to provide a general corporate update. \"Golden Independence has made great strides over the past year at the Independence Project,\" stated Christos Doulis, CEO. \"The retirement of the US$4 million cash bullet payment in January followed by the delivery of the project's maiden NI 43-101 resource in May were the Company's first two major milestones,\" he continued. \"Our next two major milestones are the delivery of the PEA and completion of our initial earn-in at the Independence Project which are both expected before the year end,\" he concluded. PEA Update Golden Independence is on track to deliver a PEA on the near surface component of the Mineral Resource Estimate (\"MRE\") before year-end 2021. Dyer Engineering based in Reno, Nevada is leading the design work for 9,000 tonne per day heap leach operation with engineering and design work approximately twenty-five percent complete. The resource model and mineralized envelopes have been updated to include the twelve new drill holes drilled in April and May of this year. A preliminary pit design has been completed and is being optimized to account for safety benches and haulage access. Kappes, Cassiday & Associates of Reno, Nevada have been engaged to undertake metallurgical testing which is well underway with thirty-four bottle roll tests having been completed on composite samples covering a majority of the near surface component of the MRE prepared in accordance with NI 43-101 and with all check assays having now been reported. A total of 1,058 new cyanide soluble results from drilling completed in 2020 and early 2021 have been added to the database and will be used in refining the gold and silver recovery models which suggest that oxidation extends to depth in various areas and a hard oxide/sulfide boundary is not evident. Operating costs and parameters are being refined based on the new metallurgical testing results. Seasonal biological, as well as cultural, baseline work will commence in Q1 2022. A groundwater Sampling and Analysis Plan is being deve...