Click here to close now.




















Welcome!

News Feed Item

Independence Gold Increases Resource Estimate for 3Ts Project, BC

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/06/14 -- Independence Gold Corp. (TSX VENTURE: IGO) (the "Company") is pleased to announce that the National Instrument ("NI") 43-101 compliant Inferred Resource estimate on its 100% owned 3Ts Project has been increased by 12% for the contained ounces of gold(i) and by 27% for the contained ounces of silver(i). This updated Inferred Resource estimate for the Ted and Mint veins incorporates results from the 2012 and 2013 diamond drilling programs (see the Company's news releases dated January 29, 2013 and June 10, 2013).

The 3Ts Project is located approximately 120 kilometres southwest of Vanderhoof and consists of fourteen mineral claims covering approximately 4,934 hectares in the Nechako Plateau region of central British Columbia. The 3Ts Project covers an epithermal quartz-carbonate vein system within which more than a dozen individual mineralized veins, ranging up to 900 metres ("m") in strike length and up to 20 m in true width, have been identified.

The current combined NI 43-101 compliant Inferred Resource estimate including the Ted, Mint, and Tommy(ii) veins is 5,452,000 tonnes grading 2.52 g/t gold and 71.5 g/t silver at a cut-off grade of 1.0 g/t gold. This inferred resource is now estimated to contain a total of 441,000 ounces of gold and 12,540,000 ounces of silver. The updated inferred resource estimates for the Ted and Mint veins and the current inferred resource estimate for the Tommy Vein are set out in the following table and are reported at a series of cut-off grades. These veins are open at depth and along strike.

3Ts Inferred Resource Estimates


--------------------------------------------------------------------------
                                      Gold                  Silver
                            ----------------------------------------------
Gold                             Grade                  Grade
Cut-off             Tonnes       (g/t)       Ounces     (g/t)       Ounces
--------------------------------------------------------------------------
                              Tommy Vein(ii)
--------------------------------------------------------------------------
0.5 g/t          1,615,000        3.99      207,000      39.7    2,059,000
--------------------------------------------------------------------------
1.0 g/t          1,490,000        4.25      204,000      41.9    2,009,000
--------------------------------------------------------------------------
1.5 g/t          1,371,000        4.52      199,000      44.3    1,953,000
--------------------------------------------------------------------------
2.0 g/t          1,182,000        4.96      189,000      48.0    1,824,000
--------------------------------------------------------------------------
                                 Ted Vein
--------------------------------------------------------------------------
0.5 g/t          2,984,000        1.62      156,000      93.5    8,974,000
--------------------------------------------------------------------------
1.0 g/t          2,942,000        1.64      155,000      94.7    8,955,000
--------------------------------------------------------------------------
1.5 g/t          2,763,000        1.72      153,000      99.5    8,837,000
--------------------------------------------------------------------------
2.0 g/t          2,484,000        1.83      146,000     107.4    8,575,000
--------------------------------------------------------------------------
                                 Mint Vein
--------------------------------------------------------------------------
0.5 g/t          1,036,000        2.47       82,000      47.5    1,581,000
--------------------------------------------------------------------------
1.0 g/t          1,020,000        2.51       82,000      48.0    1,576,000
--------------------------------------------------------------------------
1.5 g/t            957,000        2.63       81,000      50.4    1,552,000
--------------------------------------------------------------------------
2.0 g/t            829,000        2.94       78,000      53.0    1,411,000
--------------------------------------------------------------------------
                                   TOTAL
--------------------------------------------------------------------------
0.5 g/t          5,635,000        2.46      445,000      69.6   12,614,000
--------------------------------------------------------------------------
1.0 g/t          5,452,000        2.52      441,000      71.5   12,540,000
--------------------------------------------------------------------------
1.5 g/t          5,091,000        2.61      433,000      75.4   12,342,000
--------------------------------------------------------------------------
2.0 g/t          4,495,000        2.86      413,000      81.7   11,810,000
--------------------------------------------------------------------------
(i) At a cut-off grade of 1.0 g/t gold
(ii) Tommy Vein Resource Estimate previously released on January 20, 2012

Resource Estimate Notes and Parameters:

  1. Values in the resource estimate table may differ due to rounding.

  2. Mineral resources which are not mineral reserves do not have
     demonstrated economic viability. The estimate of mineral resources may
     be materially affected by environmental, permitting, legal, title,
     taxation, socio-political, marketing, or other relevant issues,
     although the Company is not aware of any such issues.

  3. The quantity and grade of reported Inferred resources in this
     estimation are uncertain in nature and there has been insufficient
     exploration to define these Inferred resources as an Indicated or
     Measured mineral resource and it is uncertain if further exploration
     will result in upgrading them to an Indicated or Measured mineral
     resource category.

  4. The mineral resources in this news release were estimated using the
     Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Standards
     on Mineral Resources and Reserves, Definitions and Guidelines prepared
     by the CIM Standing Committee on Reserve Definitions and adopted by
     the CIM Council.

The current 3Ts mineral resource estimates are based on a database of 205 drill holes (41,450 m) with 4,449 assay values.

Drill hole collar locations, down hole surveys and assay values were verified against drill logs and assay certificates. The mineral resources were estimated using 1.0 m composites of the assay values, with zero grade inserted into intervals that were not sampled.

Revised geological models were constructed of the mineralized Ted and Mint veins. These models were used to constrain the composite values chosen for interpolation, as well as to constrain the resource blocks reported within each mineral resource. Block models were constructed using 2 m x 10 m x 10 m blocks in the x, y and z directions respectively. Grades for gold and silver were interpolated into the blocks by the inverse distance squared method using a minimum of 4 and a maximum of 20 composites to generate block grades. A bulk density of 2.69 t/m3 was used for all tonnage calculations.

Allan Armitage, Ph.D., P.Geo. of GeoVector Management Inc. ("Geovector"), a Qualified Person as defined by NI 43-101, prepared the Inferred mineral resource estimates. GeoVector is an Ontario-based consulting firm specializing in resource estimation, project assessment and project management. Dr. Armitage is independent of the Company and has reviewed and approved the technical information pertaining to the resource estimate in this news release.

An NI 43-101 technical report will be finalized and filed on SEDAR within 45 days of the date of this news release.

Well-mineralized vein float boulders (as described in the Company's NI 43-101 technical report filed on SEDAR December 23, 2011) indicate potential to discover new mineralized veins within the 3Ts Project area. Targets generated from 2013 field work at the Ringer Target area, and at other locales, will be tested by diamond drilling during summer 2014.

David Pawliuk, P.Geo., the Company's Qualified Person, as defined by NI 43-101, for the 3Ts Project has reviewed the technical information in this news release.

INDEPENDENCE GOLD CORP.

Randy Turner, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Mobile, social, Big Data, and cloud have fundamentally changed the way we live. “Anytime, anywhere” access to data and information is no longer a luxury; it’s a requirement, in both our personal and professional lives. For IT organizations, this means pressure has never been greater to deliver meaningful services to the business and customers.
Container technology is sending shock waves through the world of cloud computing. Heralded as the 'next big thing,' containers provide software owners a consistent way to package their software and dependencies while infrastructure operators benefit from a standard way to deploy and run them. Containers present new challenges for tracking usage due to their dynamic nature. They can also be deployed to bare metal, virtual machines and various cloud platforms. How do software owners track the usag...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
There are many considerations when moving applications from on-premise to cloud. It is critical to understand the benefits and also challenges of this migration. A successful migration will result in lower Total Cost of Ownership, yet offer the same or higher level of robustness. In his session at 15th Cloud Expo, Michael Meiner, an Engineering Director at Oracle, Corporation, analyzed a range of cloud offerings (IaaS, PaaS, SaaS) and discussed the benefits/challenges of migrating to each offe...
Puppet Labs has announced the next major update to its flagship product: Puppet Enterprise 2015.2. This release includes new features providing DevOps teams with clarity, simplicity and additional management capabilities, including an all-new user interface, an interactive graph for visualizing infrastructure code, a new unified agent and broader infrastructure support.
Chuck Piluso presented a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Prior to Secure Infrastructure and Services, Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of International Te...
SYS-CON Events announced today that MobiDev, a software development company, will exhibit at the 17th International Cloud Expo®, which will take place November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software development company with representative offices in Atlanta (US), Sheffield (UK) and Würzburg (Germany); and development centers in Ukraine. Since 2009 it has grown from a small group of passionate engineers and business managers to a full-scale mobi...