- Golden Independence Mining Corp. (IGLD) has released assay results from the first six drill holes of its recently completed program at the Independence project
- The assays released today include two holes from the main oxide zone and four from the intrusive gold target
- The company plans to use the results from the drill program in its upcoming resource update and preliminary economic assessment
- Golden Independence Mining Corp. (IGLD) is up 3.85 per cent, trading at $0.27 per share
Golden Independence Mining Corp. (IGLD) has released assay results from the first six drill holes of its recently completed program at the Independence project.
The recent Phase II RC program drilled over 7,000 feet in 12 holes at the project south of Battle Mountain, Nevada.
Six of the holes targeted the main oxide gold zone and six targeted the intrusive gold targets.
The assays released today include two holes from the main oxide zone and four from the intrusive gold target. The two main zone holes included the following results:
- 66 g/t gold and 7.2 g/t silver over 59.4 metres, including 1.89 g/t gold and 6.9 g/t silver over 15.2 metres; and
- 68 g/t gold and 5.0 g/t silver over 45.7 metres, including 1.52 g/t gold and 8.0 g/t silver over 13.7 metres
“As expected, we are seeing good long intervals in excess of 0.5 g/t gold with shorter +1 gram intervals within it,” remarked Golden Independence president Tim Henneberry.
Christos Doulis, Golden Independence CEO, also remarked on the results.
“The results of all 12 holes from our recently completed Phase II RC drill program will be incorporated into a resource update,” he commented.
The resource update is part of the company’s upcoming preliminary economic assessment “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 added.
Golden Independence Mining Corp. is an exploration company currently focused on exploring the advanced-stage Independence property in Nevada.
Golden Independence Mining Corp. (IGLD) is up 3.85 per cent, trading at $0.27 per share as of 1:39 pm ET.
