The Conversation (0)
Golden Independence Mining has launched its campaign on the Investing News Network
Golden Independence Mining (CSE:IGLD, OTC:GIDMF, FRA:6NN) focuses on rapidly expanding the existing historic oxide resource and advancing it to heap leach production at its flagship advanced-stage Independence project in the prolific mining state of Nevada. The project has seen over US$25 million in expenditures from previous operators, including the drilling of over 200 holes, numerous metallurgical bulk samples, as well as site permitting and development work, culminating in a 2010 historic resource of over a million ounces of gold.
Golden Independence’s Company Highlights
- Golden Independence is developing its Independence project in Nevada, located completely within the previously permitted plan of operations for the Phoenix Mine operated by NGM, a joint venture between Newmont Mining (TSX:NGT) and Barrick Gold (TSX:ABX).
- The 640 acre Independence property boasts excellent gold exploration potential, strategic positioning and a significant historic gold resource estimate.
- The project has a near surface historic oxide resource of 276,400 ounces of gold grading ~0.5 g/t Au and an additional higher-grade sulfide resource of 796,200 ounces of gold grading ~6.5g/t Au.
- Golden Independence has an option to earn up to a 75% interest in the project.
- The company recently completed a ~25,000 foot, 36 hole RC drill program, results of which will be combined with 56 RC holes drilled by previous operators but not included in the 2010 historic resource, to generate an expanded NI 43-101 compliant resource for the project anticipated in Q2 2021.
- As part of the recent drill program, the company had encouraging exploration success notably in hole AGEI-32 which returned 9.11 g/t gold and 25.2 g/t silver over 24.4 metres around 150m below surface in the oxides (ie likely captured in an open pit).
- CEO Christos Doulis has significant experience in mining finance, research and M&A.