Golden Independence Acquires Fraser Lake Copper Porphyry Project

Golden Independence Acquires Fraser Lake Copper Porphyry Project

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company" or "Golden Independence") announces the acquisition by staking of the Fraser Lake copper project located in the Quesnel Trough of Central British Columbia. The project is comprised of three claim blocks totalling approximately 9,900 hectares and are located between 40 to 55 kilometres northwest of Fraser Lake, BC.

"The addition of the Fraser Lake copper project provides the Company with portfolio diversification, at a very low cost due to staking and without the typical encumbrances of royalties or work commitments," commented Jeremy Poirier, Chief Executive Officer. "This large land position within the prolific Quesnel Trough is prospective for copper porphyries of which gold and molybdenum are typically associated. We are currently reviewing the historical data on the project, including geophysical surveys completed in the late 2000's, and will provide an update on exploration plans once completed."

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7273/118532_02ba783c24d69ad6_001.jpg

Figure 1. Fraser Lake Claim Blocks

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7273/118532_02ba783c24d69ad6_001full.jpg.

The exploration target is porphyry copper molybdenum associated with a series of Endako plutons intruding Cache Creek complex, carbonate, clastic and volcanic rocks. The Quest West regional lake sediment geochemistry identified areas of anomalous copper and/or molybdenum in the drainage systems from the low ridges hosting the plutons. A 2008 AeroTEM III airborne electromagnetic and magnetometer survey identified magnetic and/or electromagnetic anomalies up drainage from the anomalous geochemistry and make compelling exploration targets.

The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo. (BC), a Director and President of Golden Independence Mining Corp. and a Qualified Person under National Instrument 43-101.

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is a development company currently focused on the advanced-stage Independence project located adjacent to Nevada Gold Mine's Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada. The Independence project hosts an M&I resource of 334,300 ounces of gold and an Inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment( PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jeremy Poirier, Chief Executive Officer
Telephone: 1.604.722.9842 
Email: info@goldenindependence.co

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, statements regarding timing of the filing of the PEA and the development potential of the Independence Project. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, risks related to uncertainties inherent in the preparation of PEAs, drill results and the estimation of mineral resources, including changes in the economic parameters, risks relating to not securing agreements with third parties or not receiving required permits, risks associated with executing the Company's objectives and strategies, including costs and expenses, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118532

News Provided by Newsfile via QuoteMedia

IGLD:CNX
The Conversation (0)
Golden Independence Provides Independence Project Update

Golden Independence Provides Independence Project Update

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company" or "Golden Independence") is pleased to provide an update on ongoing permitting and project-related activities at it's Independence heap-leach development project in Nevada.

  • NDEP approval for geochemical sampling & analysis plan
  • Commencement of NV Energy engineering study
  • NOI for additional resource and geotechnical drilling
  • Re-sampling and assaying of 725 feet of historical core drilling

"We continue to advance the Independence project along the development path, in addition to derisking the project." commented Jeremy Poirier, Chief Executive Officer. "We have engaged the leading power provider, NV Energy, to complete a scoping study along a new services corridor for stand-alone development. With the water rights we have already secured, the power corridor represents the last outstanding piece of critical project infrastructure required. In addition, we continue to refine the resource model with the resampling of over 725 feet of historical core and through the permitting for additional oxide resource expansion and geotechnical drilling. The expedited permitting and development timeline represents a significant strength of the project, relative to other projects in the State of Nevada."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Golden Independence Announces Appointment to Board of Directors

Golden Independence Announces Appointment to Board of Directors

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company" or "Golden Independence") is pleased to announce that Jordan Carroll has been appointed to the Board of Directors of the Company.

Mr. Carroll is a certified electrician and has extensive experience in mining operations and mineral extraction. Mr. Carroll led a team involved in the commissioning of the Rio Tinto Alcan aluminum smelter located in Kitimat, B.C. and has prospected and owned placer mine claims. Mr. Carroll was formerly a director of American Battery Minerals Corp as well as Pike Mountain Minerals Inc., and is currently a director of J4 Ventures Inc. He has completed courses in public company governance through Simon Fraser University.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Golden Independence Announces Change to Board of Directors

Golden Independence Announces Change to Board of Directors

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company" or "Golden Independence") is pleased to announce that Ben Hinkle has been appointed to the Board of Directors of the Company.

"We are excited to welcome Ben to the Board," commented Jeremy Poirier, Interim Chief Executive Officer. "Ben brings a wealth of knowledge and experience in resource modelling that will not only advance our knowledge and understanding of the Independence Project but will also aid us in identifying other opportunities."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Golden Independence Announces Results from Ongoing Exploration at the Independence Project, Nevada

Golden Independence Announces Results from Ongoing Exploration at the Independence Project, Nevada

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company") is pleased to provide an update from ongoing exploration activities at the Company's Independence Oxide Heap Leach project (the "Project") which adjoins Nevada Gold Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada.

Since tabling a PEA for near-surface heap-leach operation at the Project, the Company has been focused on improving the metrics of the project which yielded an after-tax NPV5% of US$45M and IRR of 22%. Specifically, exploration has been focused on delineating additional near-surface oxide resources to expand the open pit and reclassify waste with mineralized material. Both of the aforementioned would have the possibility to increase the production profile, extend the mine life, and improve project economics from a cost and valuation perspective (i.e., NPV and IRR).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Golden Independence Announces Update on Permitting for the Independence Oxide Heap Leach Project, Nevada

Golden Independence Announces Update on Permitting for the Independence Oxide Heap Leach Project, Nevada

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FRA:6NN) (the "Company") is pleased to announce an update on the ongoing permitting activities for the Company's Independence Oxide Heap Leach project (the "Project") which adjoins Nevada Gold Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada.

The Company has engaged EM Strategies, a WestLand Resources Inc. Company, to conduct baseline biological and cultural studies to facilitate an engineering study for the powerline (and production water pipeline) route to develop and operate the Project. The results of the 2022 field surveys will be presented in a Baseline Biology Report (BBR), which will include data from field surveys performed in 2021 and incorporate relevant botanical and wildlife data from previous surveys performed at the adjacent Phoenix Mine, and will be submitted to the Nevada Bureau of Land Management (BLM) for review. These studies will support the engagement with the numerous state and federal agencies to permit the utility corridor for the proposed power and water lines as outlined in the Preliminary Economic Assessment( PEA), and is inclusive of a 300-foot buffer.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Gold map of the world over black background.

10 Largest Producers of Gold by Country (Updated 2024)

The top countries for gold production are poised to benefit from the current gold bull market, as are the gold mining operations in those countries.

After climbing throughout the year, the price of gold hit a high of US$2,782 per ounce on October 30, up more than US$700 since the start of 2024. While it pulled back to around US$2,600 in the weeks following the US election on November 5, prices are still elevated.

Keep reading...Show less
M&A graphic.

Orla to Buy Musselwhite Gold Mine from Newmont for US$850 Million

Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) has entered into a definitive deal to buy the Musselwhite gold mine from Newmont (TSX:NGT,NYSE:NEM), positioning the company to more than double its annual gold production.

The purchase, valued at US$810 million, with two additional contingent payments of US$20 million each, will set Orla up as a diversified North American gold producer as it marks the company's entry into Canada.

The first contingent payment will be made if the spot gold price exceeds US$2,900 per ounce in the first year after the transaction closes, and the second will be made if the price exceeds US$3,000 in the second year after closure.

Keep reading...Show less
Gold bars in front of Canadian flag.

Indigenous-owned Mining Royalty Firm Targeting Canadian Resource Opportunities

Nations Royalty (TSXV:NRC,OTCQB:NRYCF), the first mining royalty company with majority Indigenous ownership, is attracting attention since listing on the TSX Venture Exchange this past June.

With 77 percent ownership by the Nisga’a Nation, the firm is also backed by Canadian businessman Frank Giustra.

As explained on Nations Royalty's website, the idea is to use mining royalties as a means to achieve financial independence for Indigenous communities, while also providing opportunities for investors.

Keep reading...Show less

Kestrel Option Partner Centerra Gold Continues Drilling at QCM Property

Kestrel Gold Inc. ("Kestrel" or the "Corporation")(TSXV:KGC) is pleased to provide an update on work completed by Centerra Gold Inc. ("Centerra")(TSX:CG) on the QCM gold property ("QCM") located in the Manson-Germanson area of central British Columbia. Centerra is currently in the process of earning a 75% interest in QCM by making cash payments totaling $900,000 and completing $6,500,000 in exploration work, which must include a minimum of 13,500 metres of drilling, by May 7th, 2029

Centerra's reverse circulation ("RC") drill program is well underway. A total of 6 holes and 813.97 metres have been completed to date with drilling ongoing. Completed holes are located in the 14 Vein area where RC drilling by Kestrel in 2022 returned up to 2.33 g/t Au over 44.19 metres. Results for the Centerra drill program will be released once analytical results have been received and interpreted. Centerra has also advised that they have submitted to the Ministry of Energy, Mines and Low Carbon Innovation of British Columbia an application for a 5-year Multi-Year-Area-Based (MYAB) permit, which upon receipt will allow for property wide exploration and drilling.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

White Gold Corp. Announces Significant Increase in Mineral Resources to 1,203,000 oz Gold Indicated and 1,116,600 oz Gold Inferred at the White Gold Project, Yukon, Canada

White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W ) (the "Company") is pleased to announce an updated Mineral Resource Estimate ("MRE") for its flagship White Gold project located approximately 95 km south of Dawson City in west-central Yukon, Canada. The updated mineral resource includes a significant increase in total gold ounces, including a 18.5% increase in inferred resources and an 4.3% increase in indicated resources. The White Gold project now comprises 1,203,000 ounces of gold in the Indicated Resource category (17.7 million tonnes averaging 2.12 gt Au) and 1,116,600 ounces of gold in the Inferred Resource category (24.5 million tonnes averaging 1.42 gt Au) at US$2,000oz gold. The gold resources at the White Gold Project are near surface, almost entirely captured within an open pit, and remain open for expansion in multiple directions with additional opportunities to increase total resources via targets within close proximity. Additional increases to the size of the resource may also be possible through an ongoing analysis of the resource block model and by capturing additional ounces hosted within the Target for Further Exploration area which hosts an additional estimated 10 12 million tonnes grading between 1 2 gt Au. These results form part of the Company's work program supported by strategic partners including Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Red Mountain Mining

Stunning High Gold and Copper Soil Results Opens Up Potential New Gold and Copper Region

Red Mountain Mining Limited (“RMX” or the “Company”) is pleased to advise that it has received geochemical results for 284 soil samples collected during September from the Company’s 100%-owned Flicka Lake prospect in Ontario, Canada. The soil sampling was undertaken in parallel with a rock grab sampling program (refer ASX announcement: 6 November 2024). Samples were taken from around 400 locations within the Flicka Lake claims and 91 rock grab samples and 284 soil samples were collected and submitted for multielement geochemical analysis.

Keep reading...Show less

Latest Press Releases

Related News

×