Aug 18 2016
Independence Gold Corp. ("Independence" or "the Company") is pleased to announce that it has completed the reverse circulation ("RC") drill program on its 100% owned Boulevard Project, located contiguous to Goldcorp Inc.'s Coffee Gold Deposit in the White Gold District, Yukon.
A total of 2,946 metres ("m") of RC drilling in 30 drill holes has been completed. The program tested four main targets including Denali, Sunset, Sunrise and the newly discovered Kahiltna anomaly (see August 2, 2016 news release). The objective of the Boulevard drill program was to test along trend from previously discovered gold intercepts, to test potential parallel zones to expand areas of mineralization, and to drill new zones within robust multi-element soil anomalies. Drill holes testing the 2.4 kilometre ("km") long Sunrise-Sunset target were oriented to the southeast to test the relationship between southwest striking quartz veins and gold mineralization. In each area, pyrite +/- arsenopyrite mineralization was intersected, often associated with quartz veining. A total of 2,040 samples have been submitted to SGS Mineral Services for analysis.
The Company continues its Phase Two exploration program with a rotary air blast ("RAB") drill currently working on the Rosebute Property under option from Taku Gold Corp. The Company plans to drill up to 1,500 m testing the relationship between gold mineralization and east-west trending structures at the Hudbay Zone which hosts three, north trending gold-in-soil anomalies, each greater than 1.0 km in length and 150 m in width. Gold values returned from rock samples within the Hudbay Zone range from below detection to 12.2 g/t gold, with visible gold occurring in quartz veins.
David Gale, the Company's senior geologist, commented, "A recently completed ground magnetic survey at the Hudbay Zone succeeded in identifying a network of generally east-west trending faults, cross-cutting the augen gneiss host rock. The relationship between east-west faults, the gold-molybdenum-bismuth geochemical anomaly and the host rock at the Hudbay Zone is directly analogous to Kinross' Golden Saddle deposit located 37 km to the south."
David Gale, P.Geo., the Company's Qualified Person as defined by National Instrument 43-101 for the White Gold District, has reviewed the technical information in this news release.
Source: http://www.almadexminerals.com/