1.71 m in feet

Golden Independence Intersects 1.71 g/t Gold and 6.0 g/t Silver over 70 Feet at Independence Project

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the "Company") is pleased to announce the remaining drill results from its recently completed Phase II drill program at the Independence project, south of Battle Mountain, Nevada. The reverse circulation program targeted the main oxide gold zone as well as the intrusive gold target. Results for four holes from the main oxide zone include:

  • 1.06 g/t gold and 8.9 g/t silver over 85 feet (25.9 metres)
  • 0.76 g/t gold and 8.4 g/t silver over 245 feet (74.7 metres)
    • including 1.20 g/t gold and 16.8 g/t silver over 100 feet (30.5 metres)
  • 0.61 g/t gold and 4.0 g/t silver over 320 feet (97.5 metres)
    • including 1.71 g/t gold and 6.0 g/t silver over 70 feet (21.3 metres)

"Three of the four remaining oxide holes intersected +1 gram per tonne gold intervals over 70 to 100 feet with two of those returning longer intervals of 0.60 to 0.76 g/t gold over 245 to 320 feet in the main oxide zone," commented Golden Independence President Tim Henneberry. "We continue to intersect longer +0.5 g/t gold intervals hosting shorter +1 g/t gold intervals within the main oxide zone and our Phase II results will positively impact the upcoming resource update for the Independence project," he concluded.

"Intercepts such as the 100 feet of 1.2 g/t gold and 8.4 g/t silver in hole AGEI-58 as well as previous results including 80 feet of 9.1 g/t gold and 25.2 g/t silver in hole AGEI-32 continue to demonstrate the higher grade potential of the main oxide gold zone at the Independence project," stated Golden Independence CEO Christos Doulis. "Results from our now complete Phase II drill program will be included in a resource update as part of a PEA on the project's near surface resource currently consisting of 537,300 ounces of gold in the Measured and Indicated categories and 147,300 ounces of gold in the Inferred category," he continued.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7273/96021_aee0ede5946ffa28_001.jpg

Figure 1

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/7273/96021_aee0ede5946ffa28_001full.jpg

or

https://goldenindependence.co/docs/GI-2021_DrillMap-AGEI-57-58.pdf

Table 1. 2021 Reverse Circulation Drill Results

Hole target ft from ft to ft length m length g/t gold g/t silver
AGEI-53 oxide 210 390 180 54.9 0.604 9.2
including 325 390 65 19.8 0.937 9.2
AGEI-57 oxide 415 500 85 25.9 1.064 8.9
AGEI-58 oxide 110 355 245 74.7 0.755 8.4
including 235 335 100 30.5 1.198 16.8
AGEI-60 oxide 10 330 320 97.5 0.608 4.0
including 185 255 70 21.3 1.705 6.0

AGEI-55 exploration no significant intersection
AGEI-56 exploration no significant intersection


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

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7273/96021_aee0ede5946ffa28_002.jpg

Figure 2

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/7273/96021_aee0ede5946ffa28_002full.jpg

or

https://goldenindependence.co/docs/CrossSection_AGEI-58.pdf

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/7273/96021_aee0ede5946ffa28_003.jpg

Figure 3

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/7273/96021_aee0ede5946ffa28_003full.jpg

or

https://goldenindependence.co/docs/CrossSection_AGEI-57.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 project located adjacent to Nevada Gold Mine's Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada. The Independence project hosts a M&I resource of 537,300 ounces of gold and Inferred resource of 943,500 ounces of gold with a substantial silver credit. The Company is actively advancing the near-surface resource towards a production decision with a PEA anticipated in late 2021.

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/96021

News Provided by Newsfile via QuoteMedia

The Conversation (0)
Gold pan holding pieces of gold from creek placer deposit, with words '5 Top Canadian Mining Stocks This Week.'

Top 5 Canadian Mining Stocks This Week: Guardian Exploration Gains 94 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

On Thursday (September 11), Canadian Prime Minister Mark Carney revealed the first tranche of projects selected by the newly created Major Projects Office.

The goal of the office is to accelerate timelines for projects deemed to be in the national interest, which include infrastructure, natural resources and technology. The office is being led by Dawn Farrell, who previously served as president and CEO of TransAlta (TSX:TA) and Trans Mountain. Three of the five projects announced are well into permitting or development and the Prime Minister said that the intention was to help them with a final regulatory push or to find the financing needed to complete.

Keep reading...Show less
Gold bars with rising graph overlay and text "Weekly Editor's Picks."

Editor's Picks: Gold Knocks Out Inflation-Adjusted High, Silver Breaks US$42

Gold's record-setting price run continued this week, with yet another new all-time high in the books. Silver also fared well, breaking US$42 per ounce.

According to Bloomberg, gold has now also surpassed its inflation-adjusted all-time high of US$850 per ounce, which it set more than 45 years ago on January 21, 1980. The news outlet notes that at the time the US was dealing with currency issues, inflation and recession concerns.

These are problems that sound all too familiar today. This week brought the release of the latest US consumer price index (CPI) data, which shows a 0.4 percent month-on-month increase for the all-items index — that's ahead of estimates and the most since the start of 2025.

Keep reading...Show less
Hamak Gold

Admission to Trading on the OTCQB Market

Hamak Gold Limited (LSE: HAMA / OTCQB: HASTF), a company combining traditional gold exploration in West Africa with a Digital Asset Treasury Management strategy, is pleased to announce that the Company's shares have been admitted to trading on the OTC Venture Market ("OTCQB") in the United States, under the symbol "HASTF". No new Ordinary Shares have been issued by the Company for this parallel trading of its shares.

The purpose of the listing of shares on the OTCQB is to broaden the Company's exposure to the North American investor markets and to increase trading liquidity in a drive to deliver shareholder value.

Keep reading...Show less
Stock market display with "Mergers and Acquisitions" in green and white text.

Barrick’s Plan to Sell Hemlo Mine for US$1 Billion Marks Canadian Exit

Barrick Mining (TSX:ABX,NYSE:B) has agreed to sell its Hemlo gold mine in Ontario for up to US$1.09 billion, transferring one of Canada’s most storied gold operations to a new owner and continuing Barrick’s shift away from non-core assets.

The company announced on Thursday (September 11) that Carcetti Capital (TSXV:CART.H,LSE:ORUG), which will be renamed Hemlo Mining (HMC), will acquire the mine under terms that include US$875 million in cash, US$50 million in HMC shares, and as much as US$165 million in contingent payments tied to future gold prices and production.

Barrick president and chief executive Mark Bristow said that the sale is part of the company’s ongoing capital allocation approach, noting that proceeds will help bolster the company’s balance sheet and fund returns to shareholders.

Keep reading...Show less
Gold nuggets beside text: "5 Top Australian Mining Stocks This Week."

Top 5 Australian Mining Stocks This Week: Zenith Minerals Strikes Gold at Red Mountain

Welcome to the Investing News Network's weekly round-up of the top-performing mining stocks listed on the ASX, starting with news in Australia's resource sector.

Companies focused on a mix of minerals and resources once again form this week’s top stocks list, including ones searching for gold, rutile, graphite, lithium and oil.

Significant news, including broad mineralisation discoveries and new acquisitions, drove the top performers this week, which you can learn more about in the list below.

Looking at the bigger picture, Australian lithium stocks took a hit this week following the announcement of Chinese battery giant Contemporary Amperex Technology's (SZSE:300750,HKEX:3750) reported production restart at its Jianxiawo lithium mine in Yichun. Lithium prices and mining companies had previously been lifted in mid-August after the mine was suspended.

Keep reading...Show less
Toronto Stock Exchange sign on a stone wall.

Newmont to Exit Toronto Stock Exchange as Cost Cuts Deepen

Newmont (TSX:NGT,NYSE:NEM,ASX:NEM) is preparing to withdraw from the Toronto Stock Exchange later this month, the latest in a string of moves to streamline operations and rein in costs following its US$15 billion takeover of Newcrest Mining in 2023.

The Denver-based miner said Wednesday it has applied for a voluntary delisting of its common shares from the TSX, effective at the close of trading on September 24.

Keep reading...Show less

Latest Press Releases

Related News

×