Golden Independence Mining Corp.
(CSE: IGLD, OTCQB: GIDMF, FRA: 6NNA)
A Golden Acquisition | 05/10/2023 |
Last month, we introduced you to Golden Independence Mining Corp. (CSE: IGLD, OTCQB: GIDMF, FRA: 6NNA) (the “Company” or “Golden Independence”), a development company currently focused on the development-stage Independence Project located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada in addition to the Napoleon Gold Project located in the Kamloops Mining Division of BC.
Since then, the Company announced it has acquired a portfolio of quartz mining claims located in the eastern Yukon (collectively, the “Yukon Claims”) previously held by Bearing Lithium Corp. (“Bearing”).
This is a major accomplishment for the company, Jeremy Poirier, CEO of Golden Independence, explained, due to the “number of very prospective high-grade samples that have not been previously followed up on.” He also stated that the Company is aggregating all the historical exploration data from the acquired projects in order to determine the next best steps. The Company warns investors that verification is not yet complete and grab samples are selective by nature and are unlikely to represent average grades of sampling on the entire property.
The acquired portfolio includes three projects: the HY-Jay, VBA and VM. Those three projects cover almost 8,000 hectares and are located along the 50-kilometer Upper Hyland River Gold Belt. Golden Independence noted the significance of the location as it is a belt of favorable stratigraphy, comprising Upper Proterozoic to Lower Cambrian Hyland Group and is host to several high-grade, sediment-hosted orogenic gold vein occurrences.
Let’s take a look at what these projects entail:
- Comprised of 198 claims covering an area of approximately 4,110 hectares located on the northwest corner of Seabridge Gold’s 3 Aces project and adjoins Stratabound Mineral’s Golden Culvert project to the west.
- According to news releases from Bearing Resources Ltd., prior exploration discovered three areas of anomalous gold in rock and soil: the Zig Zag, East Ridge and West zones. Prior exploration further discovered the West and East Ridge zones returned values greater than one gram per ton gold from quartz veins hosted in metasediments, with one highlight value returning 144 g/t gold. Sampling from the Zig Zag zone returned significant gold assays from grab samples of quartz-arsenopyrite vein material collected from a large field of metasediment and phyllite sub-crop and float boulders, with results from seven grab samples ranging from 2.19 g/t gold up to a maximum of 47.0 g/t gold.
- Comprised of 104 claims covering approximately 2,160 hectares and located 20 kilometers northwest of the HY-Jay project and adjacent to Trailbreaker Resources’ Plateau project where drilling has intersected significant mineralization including 13.25 g/t gold over 17.5 meters at the Goldstack Zone and 7.6 g/t gold over 9.03 meters at the Gold Dome Zone.
- The VM project was staked to cover two stream drainages highlighted by favorable geology and coincident gold and arsenic anomalous (greater than 95 percentile) government regional geochemical survey samples (sample 813102: 53 ppb Au & 50.8 ppm As; sample 813104: 41 ppb Au & 22.0 ppm As).
The VBA Project:
Comprised of 80 claims covering an area of approximately 1,660 hectares located 45 kilometers northwest of the HY-Jay project and adjacent to Trailbreaker Resources’ Plateau project.
The VBA project was staked to cover drainages highlighted by an 824.4 ppm arsenic (greater than 99 percentile) government regional geochemical stream sediment survey anomaly (sample 811614).
Work is still ongoing to decipher the next best steps for Golden Independence and its newest acquisition.
About Golden Independence Mining Corp.:
Golden Independence Mining Corp. is a development company currently focused on the development-stage Independence project located adjacent to Nevada Gold Mine’s Phoenix-Fortitude mine in the Battle Mountain-Cortez Trend of Nevada in addition to the Napoleon gold project located in the Kamloops Mining Division of BC. The Independence project hosts an M&I resource of 334,300 ounces of gold and an Inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold. The Napoleon project is comprised of over 1,000 hectares and prospective for multiple-forms of gold mineralization, with exploration in the area dating back to the 1970’s with the discovery of high-grade gold.
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