| Announcement Date: | 2022-02-07 |
|---|---|
| Announcement Type: | PEA |
| Announcement Code: | NI43-101 |
| Company name: | Golden Independence Mining Corp. |
| Project name: | Independence |
| Location: | United States |
| Commodities: | Gold,Silver |
| Highlight: | PEA results incl. post-tax NPV (5%) of US$34.5M & IRR of 18% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Vancouver, British Columbia–(Newsfile Corp. – December 23, 2021) – Golden Independence Mining Corp. (CSE: IGLD) (OTCQB: GIDMF) (FSE: 6NN) is pleased to announce the results of a positive Preliminary Economic Assessment (“PEA”) for the Company’s flagship Independence Project (the “Project”) which adjoins Nevada Gold Mines’ Phoenix-Fortitude mining operations in the Battle Mountain-Cortez trend of Nevada. Independence PEA highlights include The PEA was completed by Dyer Engineering and Kappes, Cassidy & Associates, both of Reno Nevada, and provides an attractive preliminary economic case for the near-surface development of the Independence project. The PEA is based on the mining and processing a total of 20 Mt of ore grading 0.4 g/t gold and 7 g/t silver incorporating only 60% of the near surface resource constrained by a US$1,800/oz gold price pit. The PEA envisions a 9,000 tonne per day open pit and heap leach operation with a Merrill-Crowe circuit. Significant opportunities exist for improvement and optimization including potential for shared infrastructure with the adjacent Phoenix operating mine. |
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