Dec 19 2012
Independence Gold Corp. ("Independence Gold" or "the Company") is pleased to announce the discovery of 4.56 grams per tonne (g/t) gold across 10 metres (m) in the first trench at the Denali Zone, on the YCS Property, Yukon.
The YCS Property is located in the White Gold District, adjacent to the western boundary of Kaminak Gold's Coffee Property, which contains an inferred mineral resource of 3,236,000 ounces of gold (see Kaminak news release dated December 13, 2012). The YCS Property is approximately 35 km south of Kinross Gold's Golden Saddle deposit, and is approximately 60 km south of Comstock Metals' recently announced VG Zone discovery.
Follow-up excavator trenching and prospecting were carried out at the Denali Zone, a 700 m long gold-in-soil anomaly announced by the Company on September 25, 2012. Two trenches were completed. Trench 1 was 114 m in length, and Trench 2 was 100 m long. In addition, 25 select rock samples were collected during surface prospecting of the Denali Zone anomaly area.
- Trench 1 cut 10 m averaging 4.56 g/t gold from 0 m to 10 m, followed by 16 m averaging 0.022 g/t gold from 10 m to 26 m and finally 88 m averaging 0.002 g/t gold from 26 m to 114 m.
- Trench 2 cut 100 m averaging 0.010 g/t gold, from 0 to 100 m.
- Assay values for the 25 select rock samples range from below detection to 9.74 g/t gold. Five of the 25 select rock samples returned assay values of greater than 1 g/t gold. These five rocks assayed 9.74 g/t, 8.86 g/t, 7.88 g/t, 4.79 g/t and 1.08 g/t gold.
Mr. Randy Turner, President and CEO stated "It is exciting and encouraging to have such good assay results returned from a first pass trenching program on the newly discovered Denali Zone. The Company looks forward to the opportunity to expand upon this discovery."
Independence Gold is a well-financed junior exploration company focused on precious metals with approximately 5,200 mineral claims covering about 94,400 ha within the White Gold District, Yukon. For additional information please visit the Company's website.
The Company's Vice President of Exploration, Mr. David Pawliuk, P.Geo., is the Qualified Person as defined by National Instrument 43-101 for these projects and has reviewed the technical information in this news release.
Source: http://www.ingold.ca/