Drilling Uncovers 5.58 g/t Gold Over 19.4m in Central BC Vein Missed for Decades

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Independence Gold Corp. (IGO:TSX.V; IEGCF:OTCMKTS) announced the discovery of high-grade gold and silver mineralization at the Larry Vein System within its 3Ts Project in central British Columbia. The project is located approximately 185 kilometers southwest of Prince George and 16 kilometers from Artemis Gold Inc.'s Blackwater Mine. The 3Ts Project spans approximately 8,840 hectares in a well-established epithermal quartz-carbonate vein district where nineteen mineralized veins have been identified.

Drill results from the Larry Vein System returned notable intercepts. Drill hole 3TS-25-07 intersected 19.40 meters grading 5.58 grams per tonne (g/t) gold and 73.76 g/t silver, and a separate interval of 15.00 meters grading 3.01 g/t gold and 25.20 g/t silver. True widths were estimated at 11.00 meters and 8.5 meters, respectively. Another hole, 3TS-25-09, intercepted 8.0 meters at 5.89 g/t gold and 25.13 g/t silver, with a true width of 4.75 meters. These intervals were located 210 meters and 145 meters east of the existing Tommy Vein System, respectively. Assay highlights include narrower, high-grade zones such as 3.76 meters grading 14.85 g/t gold and 273.40 g/t silver.

This marks the first time the Larry Vein has been directly targeted using compiled historical data. No surface exposure of the vein has been observed due to overburden, and past drilling had only loosely defined the system. The company stated that the new results demonstrate the vein's overlooked potential. "The discovery of high-grade mineralization at the Larry Vein is an exciting development for the 3Ts Project," said Randy Turner, President and CEO, in a company news release. "This vein was historically ignored due to its lack of surface exposure, but the latest results demonstrate it has significant potential."

The Larry Vein remains open to the northwest, southeast, and at depth. Independence Gold confirmed that additional assay results from the Larry Vein and other targets are pending. The new intercepts are expected to be incorporated into an updated mineral resource estimate planned for the second quarter of 2025.

According to the most recent NI 43-101 compliant mineral resource estimate (completed in 2022), the 3Ts Project hosts 4.47 million tonnes of inferred resources at 3.64 g/t gold and 96.26 g/t silver, equating to 678,156 ounces of gold equivalent (AuEq). This includes both open pit and underground components, with cutoff grades of 0.4 g/t AuEq and 2.0 g/t AuEq, respectively. The estimate does not yet include recent discoveries such as the Larry, Ian, and Johnny veins.

Digging Into The Precious Metals Exploration Sector

Precious metals, particularly gold and silver, remained central to investor strategies in early 2025 amid growing concerns about monetary stability, long-term debt sustainability, and shifting industrial dynamics. While both metals have traditionally been viewed as safe-haven assets, recent commentary underscored their evolving roles and the increasing focus on underlying market trends.

On March 26, Hubert Moolman examined the historical relationship between major Dow peaks and subsequent silver rallies. He identified key market turning points in 1929, 1966, 1973, and 1999, each followed by significant advances in silver prices. Moolman emphasized that silver's strongest growth periods historically began "a few years after a major Dow/Gold peak," suggesting that, based on these patterns, the current market may be echoing previous rally setups. He added that the rally, which began in 2001, "was the beginning of a long period of growth for silver prices," and recent signals pointed to a continuation of that trend.

Jeff Clark of The Gold Advisor stated that he maintained an "overweight position" in the company and referred to the 3Ts Project as "quickly growing into a takeout target."

In a separate March 26 update, Barry Dawes of Martin Place Securities analyzed recent developments in gold and silver equities. He reported that "gold is moving quietly ahead," suggesting the sector was entering a new phase of capital markets engagement. Dawes noted that recent corporate activity pointed to a change in how investors valued companies, stating that "producing companies are being bought for operating cashflows now . . .  soon, it will be the price of gold resources in the ground." On silver, Dawes observed that the metal was undergoing a "parabolic move," albeit at a gentle pace during the first quarter.

The following day, on March 27, Egon von Greyerz, founder of Matterhorn Asset Management, reinforced gold's place in long-term wealth preservation. Reflecting on more than two decades of strategic investment in physical gold, he stated, "Since we first invested heavily in physical gold in 2002 at US$300 . . .  we have developed a state-of-the-art system to help other investors." Von Greyerz also observed a notable shift in sentiment: "For the first time in the last 25 years, mainstream media and investors are starting to talk about gold." He noted that gold had outperformed stocks over the past 25 years, including reinvested dividends, and reiterated his view that exponential debt growth has historically preceded monetary system collapses.

Also on March 27, Ahead of the Herd detailed silver's industrial significance and mounting supply constraints. Citing data from Oxford Economics and the Silver Institute, the publication noted that approximately 60% of global silver demand comes from industrial applications, including solar panels, automotive systems, and electronics. Between 2023 and 2033, industrial silver demand was expected to grow by 42%, while total supply could decline by 1%. The report projected a 2025 silver deficit of 149 million ounces, which would mark the fifth consecutive annual shortfall. The publication added that "silver is currently at one of its most undervalued levels in history," with the gold-to-silver ratio at 91 — far above the historical average.

Silver market tightness was further compounded by geopolitical and environmental factors in producing countries such as Mexico, China, and Peru. In many regions, new mine development remained limited due to social unrest, policy changes, and underinvestment. According to the US Geological Survey, global silver mine production declined in 2024 to approximately 25,000 tonnes, while estimated consumption rose to 37,000 tonnes.

Analyst Highlights Undervalued Potential at 3Ts Project

On March 26, Jeff Clark of The Gold Advisor provided a favorable assessment of Independence Gold Corp. following the company's announcement of a new high-grade discovery at the Larry Vein within the 3Ts Project. Clark highlighted the significance of two key intercepts reported by the company: "19.4 meters grading 5.58 g/t gold for 108 gram-meters, plus 73.76 g/t silver," and "8 meters of 5.89 g/t gold and 25.13 g/t silver." He noted that these results indicated strong mineralization and added that the Larry Vein's estimated 325-meter strike length "remains open to the northwest, southeast and at depth."

Clark quoted CEO Randy Turner's explanation that "the discovery of high-grade mineralization at the Larry Vein is an exciting development for the 3Ts Project" and emphasized that the vein had previously been overlooked due to a lack of surface exposure. Clark observed that the stock had risen more than 5% on the TSX and over 8% on U.S. markets on the day of the announcement, despite broader weakness in gold prices. He described Independence Gold as being "well-financed" and indicated that additional assay results from the Larry Vein and other drill targets were pending. While he did not assign a specific target price, Clark stated that he maintained an "overweight position" in the company and referred to the 3Ts Project as "quickly growing into a takeout target."

Upcoming Milestones and Catalysts

Independence Gold is actively working to expand its resource base at the 3Ts Project through an ongoing 10,000-meter drill program initiated in November 2024 and scheduled to continue through April 2025. The company's investment presentation cites that with a budget of approximately US$5.0 million, this exploration campaign targets infill drilling on known veins such as Tommy and Ted-Mint, deeper mineralization at Ted-Mint, and further delineation of the Larry, Johnny, and Ian veins. The goal is to generate sufficient data to support a revised resource estimate in the second quarter of 2025.

The company also plans deeper exploration at the Ootsa copper-silver target, which is considered a potential porphyry system. Early-stage samples at Ootsa and the newly discovered Cardiff Vein have yielded gold values as high as 71 g/t, silver at 178 g/t, and copper at 0.1%, indicating the project's broader polymetallic potential.

Independence Gold maintains a strong financial position with approximately US$7.5 million in cash and a market capitalization of around US$45.1 million as of December 2024. The company completed several successful financings in recent years, including a US$6.65 million raise in October 2024.

Located in a mining-friendly jurisdiction near major infrastructure and a large active mine (Blackwater), the 3Ts Project is well-positioned for continued advancement. Independence Gold's experienced technical and leadership team, combined with ongoing exploration and near-term resource update plans, could provide further clarity on the project's scale and economic potential in the coming months.

Ownership and Share Structure

According to Refinitiv, about 3.20% of the company is held by insiders and management.

0.86% is with the institution Middlefield Capital Corporation.

The rest is retail. 

Its market cap is CA$35.44 million with 224.66 million shares outstanding. It trades in a 52-week range of CA$0.34 and CA$0.12.