Precious Metals

 Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company") is pleased to announce the penultimate 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 five reverse circulation (RC) holes targeting the oxide intrusive include:

  • 0.50 g/t gold and 3.5 g/t silver over 530 feet (161.5 metres)
    • including 1.05 g/t gold and 3.5 g/t silver over 160 feet (48.8 metres)
  • 0.32 g/t gold and 4.3 g/t silver over 290 feet (88.4 metres)
  • 0.27 g/t gold and 7.1 g/t silver over 190 feet (57.9 metres)
    • and 2.48 g/t gold and 2.6 g/t silver over 15 feet (4.6 metres)
  • 0.22 g/t gold and 4.5 g/t silver over 375 feet (114.3 metres)
    • and 0.97 g/t gold and 14.4 g/t silver over 20 feet (6.1 metres)

"These five holes, the last of those targeting the oxide intrusive in the Phase I program, follow up on the earlier results, with a great intersection of 0.50 g/t gold and 3.5 g/t silver over 530 feet, including an impressive 1.05 g/t gold and 3.5 g/t silver over the last 160 feet within the oxidized intrusive." commented Golden Independence President Tim Henneberry. "Equally important, two of the holes hit higher grade intersections at depth, 2.48 g/t gold and 2.6 g/t silver over 15 feet and 0.97 g/t gold and 4.5 g/t silver over 20 feet, suggesting a potential new deeper target that will be followed up in the up-coming Q2 Phase II drill program." he concluded.

"Hole AGEI-47 returned 270 feet grading 0.50 g/t Au and 3.5 g/t over 530 feet from surface." noted Golden Independence CEO Christos Doulis. "This hole was drilled in the north of the Independence property which was a focus of our recently completed resource expansion drill program and where we expect significant resource growth relative to the Historical oxide resource." he continued.

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Figure 1

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7273/79459_b58c5be7b489b964_001full.jpg

Or

https://goldenindependence.co/docs/GI-2020_DrillMap_AGEI_41-44-47.pdf

Table 1. 2020 Reverse Circulation Drill Results

Holeft fromft toft lengthm lengthg/t goldg/t silver
AGEI-41029029088.40.3214.3
including1451803510.70.5113.5
AGEI-42019019057.90.2697.1
including7095257.60.6889.6
and410425154.62.4822.6
AGEI-4319034015045.70.3064.3
AGEI-440375375114.30.2174.5
and525545206.10.96814.4
AGEI-470530530161.50.4973.5
including37053016048.81.0473.5

 

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:
https://orders.newsfilecorp.com/files/7273/79459_b58c5be7b489b964_002full.jpg

Or

http://goldenindependence.co/docs/CrossSection_AGEI-47.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/79459

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