The company’s flagship Independence project in Nevada wrapped up phase two drilling recently. Results include intersects of 1.71 g/t gold and 6 g/t silver over 70 feet.
Golden Independence Mining (CSE:IGLD,OTCQB:GIDMF,FWB:6NN) CEO Chris Doulis detailed how chapter two of the Independence story is going to unfold.
The company’s flagship Independence project in Nevada wrapped up phase two drilling recently, and Golden Independence released results including intersects of 1.71 grams per tonne gold and 6 grams per tonne silver over 70 feet.
“We’re focused on advancing the near-surface portion of our project to a preliminary economic assessment (PEA) that’s a heap leach type of operation. We’re going to be tabling that PEA in mid-November built around the resource that we released in May of this year, which was 684,000 ounces of gold in the measured, indicated and inferred categories. There’s a deeper portion of the resource which is 796,000 ounces at 6.5 grams. That’s chapter two of the Independence story,” said Golden Independence CEO Chris Doulis.
“We continue to generate strong results out of the 12 holes from phase two and we’d like to go back and do some more drilling. I’m envisioning phase three drilling for 2022.”
Results from the phase two drill program will be included in a resource update as part of a PEA on the project’s near-surface resource. Golden Independence CEO Chris Doulis said the company’s existing capital resources will be devoted to advancing the PEA towards a production decision set in November of this year towards a preliminary feasibility study.
Watch the full interview of Golden Independence CEO Chris Doulis above.
The interview below was published on May 31, 2021
Golden Independence Mining (CSE:IGLD,OTCQB:GIDMF,FWB:6NN) CEO Christos Doulis talks in this interview about the progress of the company’s flagship Independence project, which hosts an impressive global historic resource estimate of 1,072,600 ounces of gold.
“Nevada is a gold powerhouse, and Nevada Gold Mines is a joint venture between Newmont (TSX:NGT,NYSE:NEM) and Barrick Gold (TSX:ABX,NYSE:ABX) that’s producing 2.5 million ounces of gold in 2020. So our entire project is actually contained within the permanent operations of that mine, which is an advantage to us,” Doulis said.
Golden Independence recently announced a measured and indicated total resource of 537,300 ounces of gold and 8.1 million ounces of silver, plus an inferred total resource of 147,300 ounces of gold and 1.2 million ounces of silver at the Independence project, located adjacent to Nevada Gold Mines’ Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada.
“There are a lot of companies out there with $25 million market caps that don’t have proof of ore deposit. But until you actually can define a resource, you really don’t have anything. You’ve got a company advancing a near-term asset in a great jurisdiction. We know there’s a real, honest to goodness ore deposit here, and we think that ultimately we could generate significant production.”
Watch the full interview with Golden Independence Mining (CSE:IGLD,OTCQB:GIDMF,FWB:6NN) CEO Christos Doulis above.
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