Precious Metals

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

Holetargetft fromft toft lengthm lengthg/t goldg/t silver
AGEI-53oxide21039018054.90.6049.2
including3253906519.80.9379.2
AGEI-57oxide4155008525.91.0648.9
AGEI-58oxide11035524574.70.7558.4
including23533510030.51.19816.8
AGEI-60oxide1033032097.50.6084.0
including1852557021.31.7056.0

AGEI-55explorationno significant intersection
AGEI-56explorationno 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

i-80 Gold Corp.

i-80 Gold Corp.

i-80 Gold Corp is a well-financed gold producer and developer holding an impressive portfolio of advanced-stage gold projects in the State of Nevada. The company's primary goal is to build a self-sustaining, mid-tier, mining company with a peer-best growth platform by employing a methodical, capital disciplined and staged approach to minimize risk while also assessing and monitoring for accretive growth opportunities.

gold bars

Top 5 Gold Stocks on the TSX (Updated November 2022)

Click here to read the previous best gold stocks article.

The gold price is finally gaining some ground after falling below US$1,650 per ounce in September for the first time since 2020. The yellow metal neared US$1,800 in mid-November and is now sitting above US$1,750.

Even so, gold is still under pressure, and some experts think now is the time to buy. The Investing News Network spoke with Mark Yaxley, managing director of bullion dealer SWP, twice in November, and he shared his advice on buying bullion both times.

"My advice … to my clients, who are mostly Canadians and Americans, is maybe you should be mirroring eastern investors and taking advantage of these dips at this price level," he said in his first interview, explaining that westerners often wait for positive price performance to buy gold. In the second discussion, he shared his three guidelines when buying bullion.

Keep reading...Show less

Tempus Announces Non-Brokered Private Placement Of Up To C$1.0 M

Tempus Resources Ltd. (ASX: TMR) (TSXV: TMRR) (OTCQB: TMRFF) ("Tempus" or the "Company") is pleased to announce a non-brokered private placement (the "Offering") for gross proceeds of up to C$1,000,000 (approximately A$1,111,000) from the sale of up to 16,666,667 flow-through units of the Company (each, a "FT Unit") at a price of C$0.06 (approximately A$0.067) per FT Unit. Each FT Unit will consist of one common share of the Company to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a "FT Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at a price of C$0.09 (approximately A$0.10) for a period of 24 months following the issue date of the FT Unit. Red Cloud Securities Inc. will be acting as a finder in connection with the Offering.

News Provided by Newsfile via QuoteMedia

[subscribe_company_profile use_post="101618410"]

Keep reading...Show less
Peruvian Metals

Peruvian Metals to Extend Warrants

Peruvian Metals Corp. (TSXV: PER) (OTCQB: DUVNF) (the "Company") announces that the Company intends to amend the terms of 2,334,000 outstanding warrants of the Company (the "Warrants") that are set to expire December 15, 2022.

The Company has made an application to the TSX Venture Exchange (the "TSXV") to extend the expiry date for all of the Warrants to March 31, 2023. All other terms of the Warrants will remain the same.

Keep reading...Show less
swan silhouette swimming by a US$100 bill

Black or Gray Swan: What’s the Next Crisis?

It seems there's been one global crisis after another since COVID-19 shut the world down in 2020.

With markets fluctuating wildly and economies in turmoil, investors have been left dizzied at best, and at worst have suffered disastrous portfolio losses. Across the board, market participants have questions about how to move forward.

At this year’s New Orleans Investment Conference, held in October, many presenters and guests provided insight on how to prepare for potentially unforeseeable scenarios. These unexpected negative events are called "black swans" — unpredictable events that go beyond what is normally expected with potentially severe consequences.

Keep reading...Show less
Nevada Sunrise CEO Warren Stanyer

Nevada Sunrise CEO Says Rising Demand Fueling Renewed Focus on Domestic Lithium

Nevada Sunrise CEO says rising demand fueling renewed focus on domestic lithiumyoutu.be

Keep reading...Show less

Latest Press Releases

Related News

×