Independence Gold Provides an Update on Discovery of New Veins at the 3Ts Project, BC
Rhea-AI Summary
Independence Gold Corp. has announced the discovery of several new veins at its 100% owned 3Ts Project in British Columbia. The project, located 185km southwest of Prince George and 16km southwest of the Blackwater Mine, covers a low-sulphidation epithermal quartz-carbonate vein district. Key discoveries include: the Ootsa Target with samples up to 2.69% copper and 189 g/t silver; the Cardiff Vein yielding 71.30 g/t gold and 178 g/t silver; the Dixie Vein System showing 7.71 g/t gold and 61 g/t silver; and the Daisy Vein returning 4.82 g/t gold and 6 g/t silver. These new veins are currently being tested in an ongoing drill campaign.
Positive
- Discovery of multiple new mineralized veins with high-grade samples
- Ootsa Target samples showed up to 2.69% copper and 189 g/t silver
- Cardiff Vein samples yielded 71.30 g/t gold and 178 g/t silver
- Project location near Artemis Gold's Blackwater Mine
- Expansion potential with veins remaining open along strike
Negative
- None.
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In the trading session that priced this news, IEGCF declined 0.45%, reflecting a mild negative market reaction.
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Vancouver, British Columbia--(Newsfile Corp. - November 26, 2024) - Independence Gold Corp. (TSXV: IGO) (OTCQB: IEGCF) (the "Company" or "Independence") is pleased to announce the discovery and results of several new veins from the summer/fall exploration program carried out at its
The Ootsa Target
The Ootsa target lies 700 m northeast of the Ted-Mint Vein System where exploration work undertaken previously in 2023 identified anomalous copper and silver values hosted in rhyolite. During 2024, a 100 m-long trench was excavated across the target zone. Bedrock samples hosted centimetre-scale quartz veins and stockworks contain primarily native copper, bornite and tetrahedrite. A total of 79 samples were collected and returned trace to
The Cardiff Vein
The Cardiff Vein lies 1.25 km east of the Ted-Mint Vein System in an area that is highly underexplored. A northwest to southeast trending alignment of outcropping quartz veining was mapped with a strike length of approximately 400 m. One outcrop of quartz vein hosted in rhyolite returned 71.30 g/t gold, 178 g/t silver and
The Cardiff Vein is hosted in the Jurassic Entiako Formation (as are the other major veins at 3Ts), but another vein sample taken from a quartz splay 90m east of the Cardiff Vein is hosted in vesicular basalts of the Jurassic Naglico Formation. This quartz sample returned 125 g/t silver and 0.4 g/t gold which is the first significant mineralization discovered in the Naglico Formation which could increase our future search area.
The Dixie Vein System
The Dixie Vein System is an evolving target located 365m east of the Tommy Vein System where metre-scaled veins have been observed amongst intense stockwork zones. This stockwork veining results in a more complex geological model and currently covers an area roughly 300m by 330m. A 2.2m wide vein sampled in 2022, returned 7.71 g/t gold and 61 g/t silver. A follow-up sample was taken 230 m southwest of the vein during the 2024 exploration program returned 5.23 g/t gold and 125 g/t silver.
The Daisy Vein
The Daisy vein is located 230 m east of the southern Ted-Mint Vein System which was initially identified through reviews of historical soil grids. The grids highlighted a parallel silver-in-soil anomaly east of the Ted-Mint Vein System, with one quartz vein within silicified rhyolite returning 4.82 g/t gold and 6 g/t silver. The soil anomaly strikes north-south for 565 m and remains open along strike.
Please refer to the website for a map showing the veins and sample locations.
Randy Turner, President and CEO of the Company commented "We are very pleased with the results of the summer/fall exploration program where a number of new veins have been identified, and will be tested during the current drill campaign."
About Independence
Independence Gold Corp. is a well-financed mineral exploration company with holdings ranging from early-stage grassroots exploration to advanced-stage resource expansion in British Columbia and Yukon. The Company is positioned to add shareholder value through systematic project advancement, while management continues to evaluate additional gold and silver projects for possible acquisition. For additional information, visit the Company's website www.ingold.ca.
Andy Randell, P.Geo., the Company's Qualified Person as defined by National Instrument 43-101, has reviewed the technical information in this news release.
ON BEHALF OF THE BOARD OF INDEPENDENCE GOLD CORP.
"Randy Turner"
Randy Turner, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Independence within the meaning of applicable securities laws, including statements with respect to the Company's planned drilling and exploration activities. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Independence's public filings under Independence Gold Corp.'s SEDAR+ profile at www.sedarplus.ca. Although Independence has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Independence disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
Suite 580 – 625 Howe, Vancouver, British Columbia V6C 2T6
Telephone: 604-687-3959
Facsimile: 604-687-1448
E-Mail: info@ingold.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231359