Vancouver, British Columbia–(Newsfile Corp. – November 23, 2020) – Golden Independence (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) (the “Company”) is pleased to announce it has expanded and extended the 2020 drill program at the Company’s flagship Independence project located adjacent to Nevada Gold Mines’ Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada.
The current program is being expanded to approximately 18,000 feet, to be comprised of 20 – 22 reverse circulation drill holes and 3 – 5 diamond core holes. This represents a significant increase from the initial 12,000-foot drill program, announced on October 6th, 2020, of 14 reverse circulation and 3 diamond core holes. The program expansion resulted from the alteration and mineralization noted by the technical team in the drill chips combined with costs coming in 40% under budget due to tight control. Drill chips from the 16 reverse-circulation holes completed to date are awaiting processing and analysis at the ALS Minerals lab in Elko.
“The experienced drilling crew and favorable drilling conditions at Independence have kept costs around 40% under budget to date, allowing the significant program expansion,” commented CEO Tim Henneberry. “The additional 4 to 8 RC and core holes will both target extension of the known mineralization to the north and provide further material for the metallurgical work required to initiate the Independence permitting process. These new holes will also increase the drill database for the Q1/2021 resource update and further assist with our environmental permit application submittal in H2/2021.”
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. 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. Nevada Gold Mines is a joint venture owned 61.5% by Barrick Gold Corporation and 38.5% by Newmont Corporation.