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Taku Gold Corp (2)
Symbol TAK
Shares Issued 8,666,514
Close 2016-10-27 C$ 0.09
Market Cap C$ 779,986
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Independence, Taku drill 36.6 m of 0.5 g/t Au in Yukon

2016-10-27 08:22 ET - News Release

See News Release (C-IGO) Independence Gold Corp

Mr. Randy Turner reports

INDEPENDENCE GOLD INTERSECTS GOLD MINERALIZATION, ROSEBUTE PROPERTY, YUKON

Independence Gold Corp. has intersected multiple broad zones of gold mineralization at the Hudbay zone on the Rosebute property under option from Taku Gold Corp. Intercepts include 0.50 gram per tonne gold over 36.6 metres, 0.31 g/t Au over 38.1 m and 0.15 g/t Au over 91.4 m.

The Rosebute property contains two significant gold geochemical anomalies, the Norwest zone and Hudbay zones. The 2016 drill program used a rotary air blast (RAB) drill to complete 12 holes (923.5 m) at the Hudbay zone. Drill results from this initial evaluation of the Hudbay zone are presented in the table. A summary of all 2016 drill results and a map showing the drill hole locations can be found on the company's website.

                        ROSEBUTE DRILL RESULTS

Drill hole       From             To         Length(i)          Au 
                   (m)            (m)            (m)          (g/t)

RO16-06           3.1           16.8           13.7           0.29
RO16-06          22.9           32.0            9.1           0.22
RO16-08           0.0           12.2           12.2           0.32
RO16-09           9.1          100.6           91.4           0.15
Incl.            53.3           56.4            3.1           1.67
RO16-10           6.1          100.6           94.5           0.12
RO16-10          62.5           71.6            9.2           0.29
RO16-15          12.2           48.8           36.6           0.50
Incl.            25.9           27.4            1.5           1.68
And incl.        45.7           47.2            1.5           2.50
RO16-16          10.7           48.8           38.1           0.31
Incl.            39.6           41.2            1.5           1.26
    
(i) True thickness is estimated to be 70 to 90 per cent of drill 
intercepts.

The Hudbay zone is identified by a 1.3-kilometre-long gold-silver-tungsten-molybdenum soil geochemical anomaly that is open to the north and west. Hudbay was previously tested by mechanical trenching which yielded results of 1.5 g/t Au over 20 m, 6.2 g/t Au over five m and 0.35 g/t Au over 81 m, as noted in Taku's news release on Sept. 12, 2012.

Drill holes RO16-15 and RO16-16, located in the northern portion of the Hudbay anomaly, returned the most encouraging results. RO16-15 intersected 0.50 g/t Au over 36.6 m, including 2.50 g/t Au over 1.5 m. RO16-16 intersected 0.31 g/t Au over 38.1 m, including 1.26 g/t Au over 1.5 m. Both intercepts are hosted within a quartz biotite schist and are spatially associated with increased concentrations of massive quartz veins. Sulphides are rare and typically absent within the mineralized zones. These two drill holes occur on the northeast margin of a structurally bounded, magnetic anomaly that measures 450 m by 450 m. Coincident with this geophysical target is the Au-Ag-W-Mo soil anomaly that is open to the west in an area that has not been geochemically sampled or geophysically surveyed. The company plans to fully define the western extent of this zone by collecting grid-style soil samples and expanding upon the existing geophysical dataset in 2017 with the intent to define drill targets.

The remaining drill holes focused on the southern half of the Hudbay zone and variably intersected broad zones of gold mineralization such as RO16-09, which returned 0.15 g/t Au over 91.4 m, including 1.67 g/t Au over 3.1 metres.

The first drill program at the Hudbay zone focused on the gold-rich portion of the soil geochemical anomaly and is encouraging as it identifies a positive correlation between an increase in quartz veining and gold mineralization.

The Hudbay zone is underlain primarily by metasedimentary rocks, situated on the western margin of a north-trending potassium feldspar-rich orthogneiss unit. Mineralization appears to have a stronger association with the metasedimentary package which comprises quartz biotite schist and quartzite, with minor orthogneiss. Both rock types are crosscut by shallowly south-dipping quartz veins that are aligned within a shallowly south-dipping, pervasive foliation.

The Rosebute property is located approximately 58 km south of Dawson City, Yukon, and approximately 29 km north of the Golden Saddle deposit owned by Kinross Gold Corp. The property is contiguous to the west of the company's Henderson project and is situated in close proximity to the northern access road proposed by Goldcorp that will provide access to the multimillion-ounce Coffee gold deposit.

All samples were submitted to SGS Minerals Services in Burnaby, B.C., for sample preparation by crushing to 75 per cent less than two millimetres, creating a 250 g split and then pulverizing to 85 per cent passing 75 microns. Sample pulps are submitted for gold analysis with a 30 g fire assay and AAS finish (code GE-FAA313). Samples are also submitted for a 52-element analysis using an aqua regia digest and ICP-AES and ICP-MS analysis (GE-ICM14B). Control samples (accredited gold standards and blanks) were inserted into the sample sequence on a regular basis monitor precision of results.

David Gale, PGeo, the company's qualified person as defined by National Instrument 43-101 for the White gold district, has reviewed the technical information in this news release and has approved the disclosure herein.

We seek Safe Harbor.

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