Independence Gold Intersects 10.0 Metres Averaging 6.08 g/t Gold and 62.0 g/t Silver at 3Ts Project, BC
29 Janvier 2013 - 1:00PM
Marketwired Canada
Independence Gold Corp. (TSX VENTURE:IGO) ("Independence Gold" or "the Company")
is pleased to report assay results from a seventeen hole, 3,949 metre ("m")
diamond drilling program completed during November 2012 on its 100% owned 3Ts
Project. The 3Ts Project is located approximately 185 kilometres ("km")
southwest of Prince George, British Columbia and situated 20 km southwest of the
Blackwater Project of New Gold Inc. For additional information, please visit the
Company's website at www.ingold.ca. Highlights from the program include:
-- A mineralized quartz-carbonate vein was discovered between the Ted Vein
and the Mint Vein. These veins are all a part of the same mineralized
vein structure, which has a total strike length of more than 900 m.
-- The best drill intercept from this newly-discovered vein structure
averaged 6.08 grams per tonne ("g/t") gold and 62.0 g/t silver across
10.0 m including a 2.0 m intersection grading 28.50 g/t gold and 162.0
g/t silver.
Ted - Mint Vein
A mineralized quartz-carbonate vein was discovered in the gap between the Ted
Vein and the Mint Vein, where discovery drill hole TT12-64 intersected a vein
grading 0.47 g/t gold and 60.3 g/t silver across 12.7 m. A further seven holes
were drilled in this area to test for the mineralized vein. The results of this
drilling are listed below. The best intercept averaged 6.08 g/t gold and 62.0
g/t silver across 10.0 m in hole TT12-71; this intercept includes 2.0 m grading
28.50 g/t gold and 162.0 g/t silver. This discovery indicates that the Ted Vein
and the Mint Vein are segments of the same mineralized vein structure, which has
a total strike length of more than 900 m. This mineralized vein structure is
open both at depth and along strike.
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Drill
From To Intercept Gold Silver
Drill Hole (m) (m) (i)(m) (g/t) (g/t)
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TT12-64 124.0 136.7 12.7 0.47 60.3
Includes 128.0 132.0 4.0 0.99 152.0
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TT12-66 83.0 103.9 20.9 2.00 111.8
Includes 102.3 102.9 0.6 29.00 321.0
TT12-66 111.4 111.7 0.3 2.00 53.0
TT12-66 118.8 123.8 5.0 1.50 15.6
----------------------------------------------------------------
TT12-67 54.0 56.0 2.0 0.72 0.0
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TT12-68 No Significant Assays
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TT12-69 No Significant Assays
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TT12-70 408.9 409.6 0.7 0.25 26.3
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TT12-71 287.6 297.6 10.0 6.08 62.0
Includes 287.6 289.6 2.0 28.50 162.0
TT12-71 343.4 346.4 3.0 7.30 231.0
Includes 343.4 344.4 1.0 21.00 683.0
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TT12-71 356.4 357.4 1.0 5.00 9.0
TT12-71 383.8 391.0 7.2 1.11 31.6
Includes 388.8 391.0 2.2 2.00 45.8
----------------------------------------------------------------
TT12-72 297.7 298.1 0.4 1.40 4.0
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(i) All holes were drilled between -50 degrees and -60 degrees inclination
and the veins have sub-vertical dips.
Mint Vein
Holes TT12-56 to TT12-63 inclusive were drilled in the Mint Vein area. Two of
these holes intercepted the lower Mint Vein, below a gently dipping microdiorite
sill that crosscuts the vertical vein structure. The best intercept from the
Mint Vein area grades 1.79 g/t gold and 3.0 g/t silver across 2 m in hole
TT12-60. The Mint Vein is open at depth and along strike.
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Drill
From To Intercept Gold Silver
Drill Hole (m) (m) (i)(m) (g/t) (g/t)
----------------------------------------------------------------
TT12-56 64.5 64.8 0.3 0.98 4.0
TT12-56 69.7 72.25 2.55 1.01 5.6
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TT12-57 No Significant Assays
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TT12-58 6.8 8.8 2.0 0.31 36.6
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TT12-59 5.0 11.0 6.0 0.28 16.4
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TT12-60 244.0 246.0 2.0 1.79 3.0
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TT12-61 298.8 299.8 1.0 0.62 21.8
Includes 298.8 299.2 0.4 1.00 44.0
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TT12-62 No Significant Assays
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TT-12-63 26.6 27.9 1.3 1.96 17.1
Includes 27.6 27.9 0.3 7.39 74.0
TT12-63 48.4 48.8 0.4 3.46 5.0
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(i) All holes were drilled between -50 degrees and -60 degrees inclination
and the veins have sub-vertical dips.
Ted Vein
Hole TT12-65 successfully intercepted the Ted Vein below the crosscutting
microdiorite sill. The Ted Vein remains open at depth.
----------------------------------------------------------------
Drill
From To Intercept Gold Silver
Drill Hole (m) (m) (i)(m) (g/t) (g/t)
----------------------------------------------------------------
TT12-65 323.0 333.5 10.5 0.69 13.1
Includes 328.0 329.5 1.5 4.00 17.6
----------------------------------------------------------------
(i) All holes were drilled between -50 degrees and -60 degrees inclination
and the veins have sub-vertical dips.
The 3Ts Project covers an epithermal quartz-carbonate vein system within which
more than 12 individual mineralized veins, ranging up to 20 m in true width,
have been identified. Most of these veins have not been delineated by diamond
drilling, and are open both along strike and at depth.
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 cutoff,
the total Inferred Resource for these three veins is 3,614,072 tonnes grading
3.39 g/t gold and 85.15 g/t silver for 394,383 contained ounces of gold and
9,894,835 contained ounces of silver (see news release dated January 20, 2012).
This inferred resource estimate does not incorporate results reported in this
news release.
Well-mineralized vein float boulders at the Ringer Target area (as described in
the Company's NI 43-101 technical report filed on SEDAR December 23, 2011) and
in other parts of the property indicate potential to discover new mineralized
veins within the 3Ts Project area.
An exploration program including diamond drilling is currently being planned for
the 3Ts Project, and will commence mid February 2013.
David Pawliuk, P.Geo., the Company's Qualified Person, as defined by NI 43-101,
for the 3Ts Project has reviewed the technical information in this news release.
INDEPENDENCE GOLD CORP.
Randy Turner, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Independence Gold Corp.
Investor Relations
604-687-3959
604-687-1448 (FAX)
info@ingold.ca
www.ingold.ca
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