Golden Independence 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 three reverse circulation holes include: 0.617 gt gold and 3.8 gt silver over 255 feet including 2.528 gt gold and 3.0 gt silver over 35 feet 0.302 gt gold and 4.4 gt silver over 325 feet ...

Golden Independence (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 three reverse circulation (RC) holes include:

  • 0.617 g/t gold and 3.8 g/t silver over 255 feet (77.7 metres)
    • including 2.528 g/t gold and 3.0 g/t silver over 35 feet (10.7 metres)
  • 0.302 g/t gold and 4.4 g/t silver over 325 feet (99.1 metres)
    • including 0.593 g/t gold and 3.3 g/t silver over 30 feet (9.1 metres)
  • 0.291 g/t gold and 7.0 g/t silver over 305 feet (93.0 metres)
    • including 0.659 g/t gold and 19.0 g/t silver over 40 feet (12.2 metres)
    • and 0.670 g/t gold and 7.5 g/t silver over 55 feet (16.8 metres)

"These are the remainder of the initial Golden Independence holes testing the intrusive at the north end of the property," commented Golden Independence President Tim Henneberry. "The initial six holes into the intrusive all intersected good long intervals of continuous gold mineralization with shorter higher-grade intervals within the longer intercepts," he continued. "The oxide gold mineralization within the intrusive indicates a significant expansion of the mineralized footprint which should be reflected in the upcoming H1 resource estimate," he concluded.

"Drilling at the north end of the project continues to return significant lengths of mineralized material from surface," noted Golden Independence CEO Christos Doulis. "Of particular note is hole AGEI-20 which returned 0.617 g/t gold and 3.8 g/t silver over 255 feet from surface, extending mineralization well beyond the 2010 historical resource pit shell. These results continue to reinforce our belief that we will be able to significantly expand the historic oxide resource at the Independence project in the near term."

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Figure 1

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http://goldenindependence.co/docs/GI-2020_DrillMap_AGEI_20-21-25.pdf

Table 1. 2020 Reverse Circulation Drill Results

Hole ft from ft to ft length m length g/t gold g/t silver
AGEI-20 0 255 255 77.7 0.617 3.8
including 210 245 35 10.7 2.528 3.0
AGEI-21 0 325 325 99.1 0.302 4.4
including 130 160 30 9.1 0.593 3.3
AGEI-25 235 540 305 93.0 0.291 7.0
including 235 440 205 62.5 0.337 8.2
including 235 275 40 12.2 0.659 19.0
including 370 425 55 16.8 0.670 7.5

 

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

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Figure 2

To view an enhanced version of Figure 2, please visit:
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or

http://goldenindependence.co/docs/CrossSection_AGEI-20-21-25.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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76698

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