Vancouver, BC – December 15, 2020 – Golden Independence Mining Corp. (CSE: IGLD) (OTCQB:GIDMF) (FRA:6NN) (the “Company”) is pleased to announce additional drill results from previously-unreleased holes completed on the Independence project subsequent to the 2010 Historical Resource Estimate (the “Historical Resource”). These results are from 12 reverse circulation (RC) holes drilled in 2017 by a previous operator. These 12 RC holes, in addition to the 44 holes announced on December 9th, 2020, were not available for the Historical Resource but will be included in the upcoming resource update, anticipated in Q1/21, as will the RC holes from the Company’s ongoing drill program.
- 270 feet grading 1.10 g/t gold in hole AGEI-02 including 5 feet grading 10.00 g/t gold
- 160 feet grading 0.79 g/t gold in hole AGEI-08
- 90 feet grading 1.24 g/t gold in hole AGEI-04 including 5 feet grading 5.26 g/t gold
“Along with further expansion of the oxide mineralization, several of these 12 drill holes intersected significant widths of structurally hosted gold mineralization beneath the oxides.” commented Golden Independence CEO Christos Doulis. “We will integrate results from the 56 recently released historic drill holes with the 20 to 22 drill holes from our ongoing drill program into our upcoming resource update which should significantly expand the historic oxide resource at the Independence project.”
Figure 1: Plan View Showing Drill Collar Locations
Figure 2: Summary Drill Highlights
These historic drill highlights are for down hole widths and have not been converted to true width, which is unknown at this time. All samples are 5-foot width with larger intervals weight averaged. Fire assay with AA finish analyses were completed by ALS Minerals of Reno, Nevada. Over limits (+10 ppm Au or +100 ppm Ag) were re-fire assayed with gravimetric finish.
The technical content of this news release has been reviewed and approved by R. Tim Henneberry, P.Geo. (BC), a Director and President of Golden Independence Mining Corp. and a Qualified Person under National Instrument 43-101.
About Golden Independence Mining Corp.
Golden Independence Mining Corp. is an exploration company currently focused on exploring the advanced-stage Independence Gold Property located in the Battle Mountain-Cortez Trend, Nevada and the Champ precious metal property near Castlegar, British Columbia. The Independence Gold Property benefits from over US$25 million in past exploration, including over 200 holes drilled, and is located adjacent to Nevada Gold Mines’ Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada.
FOR FURTHER INFORMATION PLEASE CONTACT:
Christos Doulis, Chief Executive Officer
Telephone: 1.647.924.1083 Email: firstname.lastname@example.org
SOURCE: Golden Independence Mining Corp.