Independence Gold Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Independence Gold Corp. is a mineral exploration company with projects located in British Columbia and Yukon. The Company’s portfolio ranges from early stage grassroots exploration to advanced-stage resource expansion projects. The Company is positioned to add shareholder value through systematic project advancement. At the same time, management continues to evaluate additional gold and silver projects for possible acquisition.

Projects in Hand

(1) 3Ts Project, Central BC

• 100% owned advanced exploration project, 15 claims covering ~5,200 hectares in the Nechako Plateau Region, Central BC
• Located 20 km southwest of Artemis Gold's Blackwater gold deposit
• 12 parallel mineralized quartz-carbonate epithermal veins
• Excellent potential to discover new mineralized veins
• NI 43-101 Inferred mineral resource estimate for Tommy, Ted and Mint veins for a total of 5,452,000 tonnes @ 2.52 g/t gold and 71.5 g/t silver, containing 441,000 ounces of gold and 12,540,000 ounces of silver
• Actively drilled in 2020 and 2021
• The 2021 winter drill program completed approximately 4,500 metres of drilling with results to be released once assays have been completed

2020 Exploration Program

• 10 drill holes were completed, totalling 2,000 m, to test gaps in historical drilling in the Tommy and Ted-Mint vein systems
• Tommy Vein highlights:
• 3T-20-01: 3.12 g/t Au and 29.43 g/t Ag over 7.4 m, including 9.45 g/t Au and 84.0 g/t Ag over 2 m
• 3T-20-02: 7.97 g/t Au and 3.92 g/t Ag over 12.7 m, including 30.94 g/t Au and 130.0 g/t Ag over 3 m
• Ted-Mint Vein highlights:
• 3T-20-09: 5.84 g/t Au and 66.0 g/t Ag over 1 m
• 3T-20-10: 3.63 g/t Au and 132.83 g/t Ag over 67.6 m, including:
• 11.38 g/t Au and 779.40 g/t Ag over 5 m
• 1.66 g/t Au and 397.80 g/t Ag over 5 m
• 33.34 g/t Au and 195.50 g/t Ag over 4 m

This study was to confirm the results from the 2013 metallurgical study. It is believed that recoverability could be further improved by modifying the processes with additional mineralogical studies to understand the deportment of the gold and silver within the veins.

2021 Exploration Program

• The winter drill programcompleted approximately 4,500 metres of drilling with results to be released once assays have been completed.
• Drilling is focused on testing significant gaps within the historical drilling of the Tommy and Ted-Mint vein system as well as previously untested targets
• Dias Geophysical was contracted to carry out a program of deep 3D IP and resistivity surveying, and a magnetotellurics survey, with a goal of better imaging the known vein systems and identify previously undiscovered veins. This survey will be completed on surface and in boreholes across a survey area of approximately 4 km x 2 km
• Proposed summer program:
• Detailed soil sampling
• Ground geophysics including magnetics and IP
• Follow up drilling based on the winter drill program

(2) Boulevard Project, Yukon

• 100% owned advanced exploration project in the White Gold Area, Yukon
• Located 135 km south of Dawson City, 35 km south of the Golden Saddle Project and contiguous to the Coffee Project (Newmont Corporation)
• Significant drill intercepts include 26.27 g/t gold over 3.10 m and 15.0 g/t gold over 3.05 m at the Sunrise Zone

(3) Spences Bridge Projects, Southern BC

• Option with Almadex Minerals (Merit and Nicoamen Projects)
• 2 exploration projects: Merit and Nicoamen
• Located in the Spences Bridge Gold Belt
• Located 10-30 km from the Shovelnose Gold Property (Westhaven Gold Corp.)
• Composite quartz vein float samples have returned gold results up to 64.87 g/t
• Exploration programs planned for spring and summer 2021

Merit Project

• 4 mineral claims covering ~1,907 hectares
• Epithermal target
• 7 anomalous zones identified by Au-As soil geochemistry and IP/Mag geophysical surveys
• Trenching returned 7.24 g/t Au over 1.8 m incl. 14.99 g/t Au over 0.6 m
• 2 historic drill holes completed

Nicoamen Project

• 9 mineral claims covering ~3,332 hectares
• Epithermal target
• 4 anomalous zones identified by Au-As soil geochemistry and IP geophysical surveys
• Composite float sample (two rocks) returned 64.87 g/t Au
• No drilling completed to date

Management

Randy Turner, P.Geo., President & CEO, Director

Mr. Turner has over 50 years of experience in Canadian and international exploration, business & financing. Notable achievements include guiding Winspear Diamonds Inc.’s Snap Lake diamond deposit from discovery to its sale to De Beers Mining for C$305 million and the discovery and sale of the Silver Quest Resources Ltd.’s Blackwater Deposit to New Gold Inc. for $180 million.

John McDonald, Ph.D, P.Geo., Director

Dr. McDonald has over 55 years of mineral exploration and research experience, including 27 years providing technical advice to junior companies and 13 years as a professor at the University of Saskatchewan, and a Director of Winspear Diamonds and Silver Quest Resources.

Darcy Marud, P.Geo., Director

Mr. Marud has more than 35 years of experience in the Americas. Mr. Marud is currently the CEO of Western Exploration LLC.

Louis Montpellier, Director

Mr. Montpellier is a lawyer with over 35 years experience in mining, corporate finance and M&A work who currently acts as an independent director and committee member for a number of mineral exploration and development companies.

Michael McPhie, MSc, QEP, Director

Mr. McPhie is a senior mining executive with more than 25 years of experience. He currently serves as Vice President, Sustainability and External Resources with Talisker Resources Ltd. and is a founding partner with Falkirk Environmental Consultants Ltd.

Terry Salman, BA, MBA, Director

Mr. Salman has 45 years of experience financing exploration. Mr. Salman is President & CEO of Salman Capital Inc.

Harry Chan, CPA, CGA, Chief Financial Officer

Mr. Chan has over 20 years experience in corporate transactions, public markets and in-depth accounting and auditing.

News Update

On June 29, 2021, Independence Gold Corp. announced assay results from three more drill holes at the 3Ts Project, as well as geophysical update.

Geophysical Update

A final report has been received for all three surveys and results show a strong correlation between high resistivity anomalies of the known vein system both on surface and at depth. Several previously undiscovered vein systems and drill targets have also been outlined near surface, as well as a large resistive and conductive anomaly at depth.

On June 3, 2021, Independence Gold Corp. provided an update on the 3Ts project including assay results from the second drill hole returned from the lab. Drill hole 3T-21-08 targeted the Tommy Vein at depth below the microdiorite sill, intersecting a zone of brecciated quartz carbonate at 238.20 m, with the vein continuing to a depth of 251.80 m. Highlights from the Tommy Vein intersection in 3T-21-08 include:

• Also announced on June 3, 2021, was the completion of a major geophysical survey that covered eight square kilometres. This survey comprised deep 3D IP and resistivity surveying and a magnetotelluric (“MT”) survey in order to obtain imagery of the geology beneath the microdiorite sill. Preliminary results of the survey are encouraging and show a strong correlation between low resistivity anomalies and the known veins both on surface and at depth, as well as new previously undiscovered vein systems.

On April 14, 2021, Independence Gold Corp. provided an update on the 3Ts project, including assay results from the first drill hole of a 4,500-metre winter diamond drilling program, a reanalysis of drill hole 3T-20-06 (drilled in 2020) to identify other potential elements of interest, and plans for a detailed geophysical survey to be carried out over the property.Drill hole 3T-21-01 was designed to test the Ted-Mint Offset Vein below the microdiorite sill, and highlights include:

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