Golden Independence Mining Corp. is pleased to announce the next series of drill results from its recently completed 2020 resource expansion drill program at the Independence project, south of Battle Mountain, Nevada. Results from these four reverse circulation holes targeting the oxide intrusive include: 1.45 gt gold and 13.0 gt silver over 40 feet including 2.02 gt gold and 36.3 gt silver over 10 feet 0.49 gt gold ...

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company") is pleased to announce the next series of drill results from its recently completed 2020 resource expansion drill program at the Independence project, south of Battle Mountain, Nevada. Results from these four reverse circulation (RC) holes targeting the oxide intrusive include:

  • 1.45 g/t gold and 13.0 g/t silver over 40 feet (12.2 metres)
    • including 2.02 g/t gold and 36.3 g/t silver over 10 feet (3.0 metres)
  • 0.49 g/t gold and 6.7 g/t silver over 270 feet (82.3 metres)
    • including 0.70 g/t gold and 6.5 g/t silver over 90 feet (27.4 metres)
  • 0.71 g/t gold and 4.2 g/t silver over 20 feet (6.1 metres)
  • 0.30 g/t gold and 2.3 g/t silver over 65 feet (19.8 metres)
    • including 1.01 g/t gold and 7.0 g/t silver over 10 feet (3.0 metres)

"These four holes follow up on earlier results, including 0.45 g/t gold and 5.8 g/t silver over 120 feet and 0.62 g/t gold and 3.8 g/t silver over 255 feet, within the oxidized intrusive," commented Golden Independence President Tim Henneberry. "These results continue to demonstrate good long intervals of continuous gold mineralization with shorter higher-grade intervals within the longer intercepts within the intrusive. The Company expects the oxide intrusive to be a key contributor to the upcoming H1 resource estimate," he concluded.

"Hole AGEI-39 returned 270 feet grading 0.49 g/t Au and 6.7 g/t over 270 feet from surface," noted Golden Independence CEO, Christos Doulis. "This hole was drilled in the north of the Independence property which has seen little previous drilling and where we expect significant resource growth relative to the Historical Resource," he continued.

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Figure 1

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7273/78043_1bc3c26ab48b9a77_001full.jpg

or

https://goldenindependence.co/docs/GI-2020_DrillMap_AGEI_38-39-40-46.pdf

Table 1. 2020 Reverse Circulation Drill Results

Hole ft from ft to ft length m length g/t gold g/t silver
AGEI-38 110 120 10 3.0 1.042 23.9
  and 325 365 40 12.2 1.446 13.0
  including 340 350 10 3.0 5.020 36.3
AGEI-39 0 270 270 82.3 0.486 6.7
  including 105 195 90 27.4 0.704 6.5
AGEI-40 0 260 260 79.2 0.253
AGEI-46 0 20 20 6.1 0.713 4.2
  and 275 400 125 38.1 0.180 3.0
  and 700 765 65 19.8 0.302 2.3
  including 700 710 10 3.0 1.013 7.0

 

All assay results are drill widths not true widths, which is undetermined at this time.

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Figure 2

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https://orders.newsfilecorp.com/files/7273/78043_1bc3c26ab48b9a77_002full.jpg

or

https://goldenindependence.co/docs/Section_4489669N.pdf

  

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Figure 3

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or

https://goldenindependence.co/docs/Section_4489730N.pdf

Quality assurance

All samples were shipped to the ALS Minerals prep lab in Elko, Nevada with analyses completed at the ALS Minerals Lab in Reno, Nevada. Both facilities are ISO 9001:2015 and ISO/IEC 17025:2017 certified. All samples are analyzed utilizing ALS ME-ICP41 procedure, an aqua regia digestion with ICP-AES finish, with gold determined by the Au-AA23 procedure, a 30-gram fire assay with AAS finish. ALS Minerals is independent from Golden Independence. Golden Independence institutes a rigorous QA/QC program of duplicate samples, blanks and standards. Based on a review of the QA/QC data is not aware of any other factors that could materially affect the accuracy or reliability of the data referred to herein.

R. Tim Henneberry, PGeo (British Columbia), President and Director of Golden Independence Mining Corp., is the qualified person who has reviewed and approved the technical content of this news release on behalf of the company.

About Golden Independence Mining Corp.

Golden Independence Mining Corp. is an exploration company currently focused on exploring the advanced-stage Independence Gold Property located in the Battle Mountain-Cortez Trend, Nevada and the Champ precious metal property near Castlegar, British Columbia. The Independence Gold Property benefits from over US$25 million in past exploration, including over 200 holes drilled, and is located adjacent to Nevada Gold Mines' Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada.

FOR FURTHER INFORMATION PLEASE CONTACT:

Christos Doulis, Chief Executive Officer
Telephone: 1.647.924.1083 Email: christos@goldenindependence.co

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