Golden Independence Mining Corp announce that it has commenced preliminary earthworks in preparation for an upcoming drill program at its development-stage Independence project in Nevada. The Company has engaged an earthworks contractor to cut roads and prepare drill pads ahead of exploration drilling, in addition to engaging geologic staff to conduct further exploration in terms of sampling, mapping and prospecting of the newly disturbed areas.
“We are excited to get back to an active exploration program at our Independence project in Nevada” commented Jeremy Poirier, CEO of Golden Independence. “Since tabling our Preliminary Economic Assessment (PEA) in December of 2021, the market for gold and gold-related equities has improved significantly – with the price of gold appreciating from US$1,800 to near all-time highs of over US$2,050 per ounce.
This improved sentiment, coupled with significant opportunities to both refine and improve the resource and economics at Independence, allows for this exploration program to have a meaningful impact on the project’s valuation and attractiveness to peers.”
The Independence project hosts an M&I resource of 334,300 ounces of gold and an Inferred resource of 847,000 ounces of gold with a substantial silver credit. A 2021 Preliminary Economic Assessment (PEA) outlined a low-cost heap leach operation focusing on the near-surface resource with total production of 195,443 ounces of gold at an all-in sustaining cost of US$1,078 per ounce of gold.
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