Aug 30 2014
Independence Gold Corp. (the "Company") announces the completion of the recent drill campaign at 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.
The drill campaign was designed to identify new mineralized veins by testing previously identified targets within the 3Ts property (see news release dated May 21, 2014). Drill targets included fault structures, ground magnetic anomalies and geochemical gold-in-till anomalies, which are all associated with known mineralized veins on the property. A total of eighteen holes (2,683 metres) were completed. As no significant gold values were intersected, drilling was suspended after approximately 50% of the forecasted $900,000 budget had been expended.
The potential exists to expand the resources at the Ted, Tommy and Mint veins and thereby expand the total gold and silver resource on the 3Ts Project. The Company will evaluate the results from this drill program, in order to determine how best to continue exploring the property.
A National Instrument 43-101 inferred resource estimate has been calculated for the Tommy, Ted and Mint veins at the 3Ts Project. Using a 1 g/t gold grade cutoff, the combined Inferred Resource for these three veins is 5,452,000 tonnes grading 2.52 g/t gold and 71.5 g/t silver for 441,000 contained ounces of gold and 12,540,000 contained ounces of silver (see news release dated May 6, 2014).
Independence Gold Corp. is a well-financed exploration company focused mainly on gold and silver exploration.
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 & CEO
Source: http://www.ingold.ca/