Golden Independence Intersects 1.89 g/t Gold and 6.9 g/t Silver over 50 Feet at Independence Project

- June 23rd, 2021

Golden Independence Mining Corp. is pleased to announce results from the initial six drill holes of the recently completed 12 hole 7,425 foot Phase II RC drill program at the Independence project, south of Battle Mountain, Nevada. Six holes of the Phase II RC drill program targeted the main oxide gold zone and six holes targeted the intrusive gold target. Results for two holes from the main oxide zone and four holes …

Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the “Company”) is pleased to announce results from the initial six drill holes of the recently completed 12 hole 7,425 foot Phase II RC drill program at the Independence project, south of Battle Mountain, Nevada. Six holes of the Phase II RC drill program targeted the main oxide gold zone and six holes targeted the intrusive gold target. Results for two holes from the main oxide zone and four holes from the intrusive gold target include:

  • 0.66 g/t gold and 7.2 g/t silver over 195 feet (59.4 metres)
    • including 1.89 g/t gold and 6.9 g/t silver over 50 feet (15.2 metres)
  • 0.68 g/t gold and 5.0 g/t silver over 150 feet (45.7 metres)
    • including 1.52 g/t gold and 8.0 g/t silver over 45 feet (13.7 metres)

“The highlight results above are the first two of six holes testing the main oxide zone in the area of AGEI-32 from the Phase I RC drill program. As expected, we are seeing good long intervals in excess of 0.5 g/t gold with shorter +1 gram intervals within it: 195 feet of 0.66 g/t gold containing a shorter 50 foot interval of 1.89 g/t gold and 150 feet of 0.68 g/t gold containing a shorter 45 foot interval of 1.52 g/t gold,” commented Golden Independence President Tim Henneberry.

Golden Independence continues to intercept both plus half-gram plus gold and higher-grade material in the main oxide gold zone,” stated Golden Independence CEO Christos Doulis. “The results of all 12 holes from our recently completed Phase II RC drill program will be incorporated into a resource update as part of an upcoming PEA on the 537,300 ounces of gold in the Measured and Indicated categories and 147,300 ounces of gold in the Inferred category that make up the near-surface portion of our recently released maiden NI 43-101 compliant Mineral Resource Estimate,” he continued.

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Figure 1

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Table 1. 2021 Reverse Circulation Drill Results

Hole target ft from ft to ft length m length g/t gold g/t silver
AGEI-49 intrusive 0 405 405 123.4 0.257 4.3
including 380 405 25 7.6 0.756 12.9
AGEI-50 intrusive 10 510 500 152.4 0.252 6.2
including 35 125 90 27.4 0.448 6.3
AGEI-51 intrusive 125 595 470 143.3 0.216 5.8
including 130 155 25 7.6 0.552 3.5
AGEI-52 intrusive 0 400 400 121.9 0.300 4.4
AGEI-54 oxide 180 375 195 59.4 0.655 7.2
including 235 285 50 15.2 1.893 6.9
AGEI-59 oxide 195 345 150 45.7 0.680 5.0
including 210 255 45 13.7 1.518 8.0

 

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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Figure 3

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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 property located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada. The Independence property hosts an 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

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