Exploration Program At The Independence Property

VANCOUVER – Golden Independence plans for the exploration program at its Independence Gold project in Battle Mountain, Nevada. 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 modeling 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, said, “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.”

The Independence property consists of 14 unpatented lode claims along with mill site mining claims totaling 960 acres and is located 0.5 miles (800 meters) 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; and Fully permitted for the drilling of over 160 holes on 80 drill sites for resource expansion and development drilling.