Nevada (US)

Golden Independence Mining Closes Oversubscribed, Non-Brokered C$2.8M Private Placement; Drilling At Independence Returns More Good Results

Although gold has to battle higher interest rates, a stronger dollar and Bitcoin beating all time highs as I am writing this, Golden Independence Mining (CSE: IGLD, OTCQB:GIDMF, FRA:6NN) doesn’t appear to get fazed, and apparently has no trouble raising cash. On April 9, 2021 it closed a private placement of C$2.8M, enabling it to do much more drilling this year, and potentially grow the resource even more on their Independence gold project in Nevada. The company was already financed to do a maiden NI 43-101 compliant resource estimate which will be coming out in weeks, and a PEA before year end.

In the meantime, drilling is advancing in good fashion, almost every hole returning economic intercepts, verifying and expanding the historic 1.07Moz gold resource which has the usual hallmarks of a typical Nevada deposit: near surface, heap leachable oxides and deeper, higher grade sulfides. Let’s have a look at their progress so far.

Golden Independence Mining Looking To Verify And Expand Historic Gold Resource In Nevada; Current Drill Program Delivered Strong Results, Maiden NI 43-101 Compliant Resource Expected In Few Weeks

1. Introduction

There are lots and lots of interesting gold projects to be found in Nevada these days, and most of them are in the hands of large entities like Nevada Gold Mines, Kinross, Coeur, Waterton etc. Once in a while, much smaller parties manage to dig up interesting projects, and one of those is optioned by tiny junior Golden Independence Mining (CSE: IGLD, OTCQB:GIDMF, FRA:6NN). This company managed to arrange an earn-in deal last year to own up to 75% of the Independence project in Nevada, which contains a historic 1.07Moz gold resource with the usual hallmarks of a typical Nevada deposit: near surface, heap leachable oxides and deeper, higher grade sulfides.

Alianza Minerals Hits High Grade Silver At Haldane During First Step Out Drilling

Haldane Exploration camp, Yukon

All cashed up after raising C$1.1M in an oversubscribed financing in July, Alianza Minerals (ANZ.V) was ready for their 2019 Phase II drill program at their flagship Haldane silver project, after their Phase I drill target defining program was completed earlier this summer, and drilling begun in late August. The main focus for management were the new step out targets like the Bighorn anomaly, and the extensions of known target areas like the Ross and Mount Haldane Veins System (MHVS) targets, to indicate size potential, and are presented in red below:

Cypress Development Keeps Hitting Mineralization At Dean/Glory; Maiden Resource Estimate Expected To Be Significant

Dean claystone project; drilling Oct 2017

Cypress Development (CYP.V) seems to have a relatively easy job so far, as all completed drill holes returned thick mineralized intercepts, both on the Dean and Glory projects. Results for the Dean project consisted of two remaining assays: 106.7m @1134ppm Li for DCH-13, which is one of the best holes so far, and 75.7m @733ppm Li for DCH-14. The first hole also generated dark green to black ash-rich mudstone, starting at around 50m depth, just like a few other, earlier holes did in the 2017 program on Dean. On DCH-13, the lithium grade increased at depth.

Cypress Development: Positive Drill Results Confirm Large Scale Potential For Dean Lithium Project

Dean claystone project; Clayton Valley, Nevada

Things seem to go as planned for Cypress Development (CYP.V), as the first three holes drilled on the Dean project returned very solid intercepts, as part of the Stage 2 fall program. Results ranged from 102.7m @1029ppm Li for hole DCH-11 to 62.8m @677ppm Li for DCH-12. This last hole generated dark green to black ash-rich mudstone at a depth of 53.4m. Management hasn't seen this before, and assumes that this type of claystone doesn't differ a lot recovery-wise, and just has a different color, but has to sample and test this first of course to be sure. This is a table of the last results:

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