Independence Gold Corp. ("Independence" or "the Company") is pleased to announce that the Board of Directors has approved an initial $1.5 million exploration budget which will include drill testing the Company's 100% owned Boulevard Project, trenching on the Company's Moosehorn Project and geochemical sampling on several of the Company's Yukon properties. All projects are located in the White Gold District south of Dawson City. The 2016 program is scheduled to commence in early June and will consist of approximately 1,500 metres (m) of reverse circulation drilling and 500 m of trenching.
The Boulevard Project is located approximately 135 kilometres (km) south of Dawson City, 35 km south of Kinross Gold Corporation's Golden Saddle deposit, and contiguous to Kaminak Gold Corporation's Coffee Project.
The Company plans to complete follow-up reverse circulation (RC) drilling on the Denali Zone. The Denali Zone is a 700 m long soil geochemical anomaly confirmed by trenching and drilling. The Denali Zone was tested in 2015 by five RC drill holes, totaling 927 m. Drill hole YCS15-01 intersected 3.33 g/t gold over 3.05 m while drill hole YCS15-03 intersected 4.25 g/t gold over 6.10 m, together these intercepts define a 130 m long northwest trending, northeast dipping zone which is open along strike and at depth (Company news release August 24, 2015). The Company plans to extend drilling along strike, to depth and to test possible parallel structures in 2016. Gold mineralization is hosted within quartz biotite schist and is associated with elevated arsenic and antimony.
The Moosehorn Project is located approximately 130 km south of Dawson City, and 5 km east of the Yukon Alaska border. The Moosehorn Project hosts a 1.2 km long gold-arsenic soil geochemical anomaly and covers a topographic high area that drains into multiple placer mined creeks. The Company plans to complete two additional soil geochemical sampling grids to extend the anomaly along strike and complete three trenches, totaling 500 m, across the width of the anomaly to determine the zones structural orientation, and identify future drill targets.
Mr. David Pawliuk, has recently retired as Vice President, Exploration for the Company, but will remain as an advisor. The Company would like to thank Mr. Pawliuk for all of his contributions to our exploration success to date and wish him well in the future.
Independence Gold Corp. (TSX VENTURE:IGO) is a well-financed mineral exploration company listed on the TSX Venture Exchange. With a portfolio of projects in the Yukon and the 3Ts Project located in British Columbia, the Company's holdings range from early stage grassroots exploration to advanced-stage resource expansion. For additional information please visit the Company's website www.ingold.ca.
David Gale, P.Geo., the Company's Qualified Person as defined by National Instrument 43-101 for the White Gold Area projects, has reviewed the technical information in this news release.
INDEPENDENCE GOLD CORP.
Randy Turner, President & CEO