Golden Independence Mining Corp. (IGLD.CN)

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GOLDEN INDEPENDENCE COMMENCES DRILLING AT ITS   INDEPENDENCE PROPERTY IN NEVADA

Vancouver, BC  –October 15, 2020 – Golden Independence (CSE: IGLD) (FRA:6NN) (the “Company”) is pleased to announce the drill program has commenced on its Independence Gold project in Battle Mountain, Nevada (the “Independence Property”).

 

New Frontier Drilling LLC of Reno, Nevada, contracted to complete the drill program, collared the first drill hole on October 11th, 2020. The 12,000-foot Phase 1 diamond and reverse-circulation drilling program, is fully-funded through the Company’s recently-completed oversubscribed $4 million private placement. The Company is currently permitted to drill in excess of 160 holes from over 80 drill sites. The objective of the drill program remains to confirm the historic resource to current and expand the areas of known mineralization, culminating in a resource estimate anticipated in early 2021.

 

Figure 1: Drill Rig (foreground) with Nevada Gold Mines’ SXEW Copper Leach Pad, Mine Dump and Tailings Pond in Background

Source: Golden Independence

 

Tim Henneberry, CEO & Director, stated “We are excited to have drills turning at Independence, which will allow us to attain our corporate objective of delivering a resource estimate in Q1/2021. Given the strategic location of our Independence Property, within ~3,000 feet from Nevada Gold Mines’ Phoenix-Fortitude operation, we remain highly encouraged about the prospectivity of the project and the potential for further discoveries.”

 

Corporate Update

 

The Company is pleased to announce it has retained Digital257 Technologies Inc. (“Digital257”) to provide investor relations services to the Company, pursuant to a consulting agreement dated October 6th, 2020.  Digital257 is a digital marketing firm specializing in investor audience growth and awareness.  Digital257 provides digital media and capital markets communications services and will assist the Company with online communications with the goal of increasing market awareness of the Company (the “Services”). In consideration for these Services the Company has agreed to pay Digital257 a fee of C$9,000 per month for a six-month period plus an initial set-up fee of C$10,000. To the knowledge of the Company Digital257 does not have any interest, directly or indirectly, in the Company or its securities or any right or intent to acquire such an interest.  The appointment of Digital257 is subject to TSX Venture Exchange approval.

 

On October 14, 2020, the Company granted stock options (“Options”) to purchase an aggregate of up to 1,125,000 common shares in the capital of the Company (“Common Shares’) for a period of five years with an exercise price set at the October 14, 2020 closing price of the Company’s shares. The options were granted to several of the Company’s directors, employees, and consultants.

 

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:

  1. Tim Henneberry, Chief Executive Officer

Telephone: 1.250.715.5329 Email: t.henneberry@goldenindependence.co

 

Forward Looking Information

 

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, statements relating to plans and results of exploration and the magnitude and quality of the Independence Property, the Company’s near term exploration plans and the preparation of an updated mineral resource statement for the Independence Property. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties; (i) risks inherent in the mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and development of mineral properties and the risk that such results cause the Company to elect to terminate the Option Agreement; (iv) risks relating to the estimation of mineral resources; (v) stock market volatility and capital market fluctuations; and (vi) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

 

Source:  Golden Independence

Golden Independence Announces Fall 2020 Exploration Program at Its Independence Property in Nevada

Vancouver, BC – October 6, 2020 – Golden Independence Mining Corp (CSE: IGLD) (FSE: 6NN) (the “Company”) announces plans for a Q4 2020 exploration program at its Independence Gold project in Battle Mountain, Nevada (the “Independence Property”). The Company has secured the drilling contractor with a deposit and is securing additional support contractors. In addition, COVID19 protocols are being established and implemented.

 

The Phase 1 program, fully permitted for over 160 drill holes from over 80 sites, is expected to commence later this month. The initial program is currently budgeted for over 12,000 feet of diamond and reverse circulation drilling, along with concurrent resource modelling and permitting for an open-pit heap-leach production scenario. The drill program will focus on confirming the historic resource estimate to current and expand the areas of known mineralization which will culminate in a resource estimate anticipated in early 2021.

 

Tim Henneberry, CEO & Director, stated, “We are excited to have secured a drilling contract so quickly for the project given the high-demand for gold exploration at present. The data we aim to gather from the 12,000 feet of drilling, in in combination with the sixty-two holes drilled subsequent to the 2010 historic resource estimate, should allow us to advance the resource estimate significantly. Given the strategic location of our Independence Property, within ~3,000 feet from Nevada Gold Mines’ Phoenix-Fortitude operation, we remain highly encouraged about the prospectivity of the project and the potential for further discoveries.”

 

About Independence

 

The Independence property consists of 14 unpatented lode claims along with mill site mining claims totalling 960 acres and is located 0.5 miles (800 metres) southwest of the Nevada Gold Mines (Newmont/Barrick) Phoenix gold mine within Nevada Gold Mines’ Phoenix mine plan of operation boundary. Golden Independence has the option to acquire up to a 75% interest in the property, through a series of cash payments and work programs. Highlights include:

 

  • Significantly advanced project with over $25 million in past exploration, including the drilling of over 200 holes, metallurgical test work and site development;
  • Host to a 2010 historical estimate (see 2020-Aug-28 News Release).
  • Fully permitted for the drilling of over 160 holes on 80 drill sites for resource expansion and development drilling.

 

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:

R. Tim Henneberry,
Chief Executive Officer
Telephone: 1.250.715.5329
Email: t.henneberry@goldenindependence.co

 

Forward-Looking Information

 

This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, statements relating to plans and results of exploration and the magnitude and quality of the Independence Property, the Company’s near term exploration plans and the preparation of an updated mineral resource statement for the Independence Property. There are numerous risks and uncertainties that could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties; (i) risks inherent in the mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and development of mineral properties and the risk that such results cause the Company to elect to terminate the Option Agreement; (iv) risks relating to the estimation of mineral resources; (v) stock market volatility and capital market fluctuations; and (vi) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.

 

Source:  Golden Independence Mining Corp

About Golden Independence Mining


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.

 

ADVANCING EXCEPTIONAL NEVADA GOLD RESOURCES

 

Tier 1 Mining Jurisdiction

 

The Independence Gold Project is located in the top-tier gold mining jurisdiction of Nevada USA.

 

Advanced Stage Asset

 

Over US$25 million in past expenditures including the drilling of over 200 holes, numerous metallurgical bulk samples, and site permitting and development culminating in a Historic Measured & Indicated Resource of 210,400 ounces of gold at 0.5 g/t plus Inferred Resource of 862,200 ounces grading 2.9 g/t.*

 

Fully Permitted

 

Fully-permitted for exploration and development drilling of over 160 drill holes (from 80 drill sites). Expedited project development for a heap-leach operation as the project lies within Nevada Gold Mines’ (Newmont-Barrick JV) approved Environmental Impact Statement (EIS) and Permitted Plan of Operations.

 

Catalyst-Rich Pipeline

 

Resource confirmation and expansion drill program to commence in Q3/20 leading to a NI 43-101 Resource Estimate in H1/21 followed by a Preliminary Economic Assessment (PEA) in H2/21.

 

WHY NEVADA?

 

>> Nevada ranks as one of the top three mining jurisdictions globally for Investment Attractiveness and Policy Perception according to the Fraser Institute Annual Survey of Mining Companies, 2019.

>> Nevada Gold Mines (NGM), a joint-venture between the two largest gold producers, Newmont (NYSE:NEM) & Barrick (NYSE:ABX), is expected to produce 2.1 to 2.25 Moz of gold in 2020.

>> The USA is the 4th largest gold producing country with Nevada accounting for over 70% of production.

 

CORE LEADERSHIP

 

TIM HENNEBERRYTIM HENNEBERRY
CEO

 

Professional Geoscientist (P. Geo., BC) with 40 years of experience in domestic and international exploration and production for base and precious metals and industrial minerals. President of Mammoth Geological Ltd. since 1991, providing consulting services to numerous publicly trading companies. Previous and/or current Founder, Director, and/or Senior Officer of several TSX Venture and CSE listed companies.

 

Joel LeonardJOEL LEONARD
CFO

 

Founding Partner of JCL Partners Chartered Professional Accountants located in Vancouver. Joel has developed an extensive background in finance and accounting with a focus on financial reporting and internal control implementation. Joel completed his Bachelor’s Degree in Business from Thompson Rivers University and later received his CPA designation from the CA School of Business. Joel has spent the past three years consulting for publicly traded entities listed on various exchanges including the NYSE, TSX, TSX-V and the CSE.

 

Robert MintakROBERT MINTAK
DIRECTOR

 

20+ years’ experience in corporate management, with a specific emphasis on strategic development and corporate governance. He has a global network of lithium industry contacts and is a pioneer in the rapidly evolving lithium space. Mr. Mintak was recognized as CEO of the top mining companies on the TSXV50 in both 2016 & 2018.

 

Don McDowellDON MCDOWELL
DIRECTOR

 

Mr. McDowell currently sits as the founding President of America’s Gold Exploration and Director & VP of Corporate Development of Timberline Resources. He is a former founding Corporate & Technical Director for Ecuador Gold and Copper and former President of Great American Minerals. Don is a uniquely qualified and experienced explorationist with over 25 years of combined business, mineral exploration, project management and development experience with Nippon, Santa Fe Pacific Gold and Kennecott, focusing in Nevada and the Great Basin, Alaska, Ecuador and Central America.

 

Nevada Gold MiningMICHAEL DAKE
DIRECTOR

 

Michael Dakeis a self-employed businessman; President of Creston Capital Corp. since February 2010; Director and/or Officer of a number of reporting issuers on both the TSX Venture and CSE exchanges.

 

Source:  https://goldenindependence.co/

Disclaimer

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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.

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