Vancouver, British Columbia--(Newsfile Corp. - September 17, 2020) - Golden Independence Mining Corp. (CSE: IGLD) ("Golden Independence" or the "Company") announced today the appointment of seasoned explorationist Donald McDowell to the Company's Board of Directors. Mr. McDowell will also serve as Project Manager on the Company's Independence Gold Project located in the Battle Mountain District of Nevada.
"Don is a welcome addition to the Golden Independence Board, bringing over 30 years of western US exploration experience focussed largely on Nevada," commented Golden Independence CEO T. Tim Henneberry. "We are focussed on building a strong technical team to realize the full potential of the Independence Gold Property and Don's experience and long-time association with the project will be critical to reaching the goal," he continued.
Mr. McDowell is the founding President of America's Gold Exploration, Inc., the Vendor of the Independence Project (see the Company's news release dated August 28, 2020). He has two decades of experience serving in various roles at Santa Fe Pacific Gold, Kennecott and Nippon Mining. Don currently serves as a Director and VP Corporate Development for Timberline Resources Corporation. He has served as founding corporate and technical director for Ecuador Gold and Copper, Inc. and former founding president of Great American Minerals, Inc. In connection with his appointment, Mr. McDowell has been granted 250,000 stock options exercisable into common shares of the Company at an exercise price of $0.46 for five years.
About Golden Independence
The Company has entered into an option to acquire up to a 75% interest in the Independence Gold Property in the Battle Mountain District of Nevada. Golden Independence's flagship property lies 800 metres to the south west of Nevada Gold Mines (Newmont / Barrick JV) Phoenix / Fortitude operation.
The Independence Gold Project has a long exploration history with over US$25 million in expenditures, culminating in a 2010 historic resource estimate. Post resource exploration by the property vendor has extended the known mineralization to the north and also at depth and also identified additional resource potential by reinterpretation of the drill database.
There are three areas of mineralization at Independence: shallow oxide mineralization associated with a brittle chert horizon, expandable to the north and at depth; a deeper sulfide mineralization beneath the oxides where recent exploration has also significant gold mineralization within the faults feeding the brittle chert horizon and deep gold skarn, the typical Carlin mineralization.
The property is fully permitted for a 160 drill holes from 80 drill pads and lies within the current Phoenix / Fortitude Plan of Operations. Golden Independence plans an aggressive exploration program to both bring the historic estimate to a current resource and expand it.
Qualified Person
R. Timothy Henneberry, a Qualified Person within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects has approved the technical and scientific information in this press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
R. Tim Henneberry, Chief Executive Officer, 66 Resources Corp.
Telephone: 1.604.569.1955 Email: tim@mammothgeological.com
Forward Looking Information
This press release contains forward-looking information (within the meaning of applicable Canadian securities legislation) that involves various risks and uncertainties regarding future events. Such forward-looking information includes statements based on current expectations involving a number of risks and uncertainties and such forward-looking statements are not guarantees of future performance of the Company, and include, without limitation, statements relating to plans and results of exploration and the magnitude and quality of the Independence Property. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information in this news release, including without limitation, the following risks and uncertainties;; (i) risks inherent in the mining industry; (ii) regulatory and environmental risks; (iii) results of exploration activities and development of mineral properties and the risk that such results cause 66 Resources to elect to terminate the Option Agreement; (i) risks relating to the estimation of mineral resources; (v) stock market volatility and capital market fluctuations; and (vi) general market and industry conditions. Actual results and future events could differ materially from those anticipated in such information. This forward-looking information is based on estimates and opinions of management on the date hereof and is expressly qualified by this notice. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada at www.sedar.com. The Company assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by applicable law.
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