- Golden Independence (IGLD) has completed an updated mineral resource estimate for the Independence project in Nevada
- The MRE outlines both the near surface and underground resources at the Independence project
- The near surface resource contains a measured and indicated total resource of 506,052 ounces of gold and 7.8 million ounces of silver
- The underground resource currently contains inferred resources of 796,200 ounces of gold
- The company expects to complete its preliminary economic assessment by the end of 2021
- Golden Independence Mining is an exploration company engaged in the acquisition and exploration of mineral property assets
- Golden Independence (IGLD) is down 4.0 per cent, trading at $0.12 per share
Golden Independence (IGLD) has completed an updated mineral resource estimate for the Independence project in Nevada.
The updated mineral resource estimate (MRE) incorporates over 132,000 feet of RC and core drilling in 246 holes. It outlines both the near surface and underground resources at the Independence project.
The near surface resource contains a measured and indicated total resource of 506,052 ounces of gold and 7.8 million ounces of silver. It also contains inferred resources of 108,946 ounces of gold and 1 million ounces of silver.
The underground resource currently contains inferred resources of 796,200 ounces of gold.
“This updated resource incorporates ongoing work associated with the PEA and an additional 12 RC holes drilled after the May 2021 initial resource was released,” said Golden Independence CEO Christos Doulis.
“The near surface component of this updated MRE,” he added, “provides the foundation for a preliminary economic assessment anticipated imminently. With the recent formation of a formal joint venture with our partner AGEI we look forward to continuing to advance the Independence project towards a production decision.”
The company announced its joint venture to advance the Independence project with Americas Gold Exploration Inc. (AGEI) on December 13.
With the updated MRE in hand, the company expects to complete its preliminary economic assessment by the end of 2021.
Golden Independence has filed the mineral resource estimate in compliance with the National Instrument 43-101. The MRE was completed by James Ashton of Dyer Engineering with an effective date of November 15, 2021.
Golden Independence Mining is an exploration company engaged in the acquisition and exploration of mineral property assets.
Golden Independence (IGLD) is down 4.0 per cent, trading at $0.12 per share as of 3:40 pm EST.
