Vancouver, British Columbia – September 21, 2021 – Golden Independence Mining Corp. (CSE: IGLD, OTCQB:GIDMF, FRA: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.
Table 1. 2021 Reverse Circulation Drill Results
| EI-48Hole | 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 | ||||||
| AGEI-56 | exploration |
All assay results are drill widths not true widths, which is undetermined at this time.
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
