Liberty Gold Corp. (TSX:LGD; OTCQX: LGDTF) (“Liberty Gold” or the
“Company”) is pleased to report further Reverse Circulation (“RC”)
drill results from the Rangefront, CD and E zones at its Black Pine
oxide gold project in southeastern Idaho. The results are part of a
65,000 metre (“m”) 2022 drill program at Black Pine to upgrade and
expand the current Mineral Resource Estimate (“MRE”) and discover
new oxide gold mineralization. The drill results in this release
confirm resource growth along the north and west side of the
Rangefront Zone and along the western margin of the main Black Pine
gold system in the E and CD Zones. Importantly, the system remains
open laterally in all these zones for which pending assays and more
drilling will better inform the extent of the mineralization.
The resource expansion drilling announced today
has:
- Successfully
extended high-grade oxide gold mineralization in the Rangefront
Zone along the northern and western edges of the zone, including:
- Step-Out of
1.11 grams per tonne gold (“g/t Au”) over 68.6 m including 1.65 g/t
Au over 16.8 m in LBP726
- 0.59 g/t Au
over 38.1 metres and 0.65 g/t Au over 70.1 m in LBP722 that will
contribute to the Rangefront Zone expansion
- Encountered shallow
oxide gold mineralization along the western edge of the E Zone
extending down-dip to the west of the current MRE, including:
- 0.55 g/t Au over
48.8 m in LBP677
- 0.36 g/t Au over
97.5 m in LBP680
- Delineated gold
mineralization along the southwest edge of the CD Zone within and
immediately southwest of the current resource pit, including:
- 0.42 g/t Au over
42.7 m and 0.42 g/t Au over 21.3 m in LBP622
Three RC drills are currently turning on the
property and drilling will continue, weather permitting, through
the winter. The Black Pine resource model will be updated
progressively over the next months as assays become available and
work remains on track for a new resource estimate release in the
first quarter 2023.
Jason Attew, President and CEO of
Liberty Gold commented, “While we are advancing the Black
Pine project toward development through acquisition of land, water
and mineral rights, and metallurgical and infrastructure studies,
the project is still very much an exploration story. This is
evident from our active exploration drill programs, which continue
to identify high-grade oxide and expand gold mineralization along
the margins of the Black Pine gold system. We look forward to
further exploration drilling over the coming year on several
blue-sky targets and expect to build gold ounces onto the updated
and expanded MRE.”
For a map and cross sections showing locations
of drill holes in this release, click
here:https://libertygold.ca/images/news/2022/November/BlackPine11152022CDERMapSections.pdf
For a table showing complete drill results for
all Liberty Gold drilling to date at Black Pine, click
here:https://libertygold.ca/images/news/2022/November/Blackpine11152022AllDrillResults.pdf
RANGEFRONT ZONE EXPANSION
A significant discovery in the Rangefront Zone
was announced on September 1, 2021, subsequent to the release of
the maiden Black Pine MRE. It is characterized by the presence of
multiple, stacked horizons of oxide gold mineralization, which
commonly exceed 100 m in true thickness. The Rangefront Zone was
extensively drilled during the winter months into 2022, defining a
zone of gold mineralization extending over an approximately 1
square kilometre (“km2”) area (see press release
dated February 23, 2022). Drilling at Rangefront resumed during the
summer months in 2022, targeting further expansion of the zone to
the north and west. Oxide gold mineralization was successfully
extended northward along the 1 km-long northern edge of the
deposit. In addition, two holes drilled along the western margin of
the zone encountered oxide gold mineralization that is higher-grade
than modeled and open to the west.
Follow-up drilling is proceeding in both areas,
as well as additional resource upgrade drilling across the
Rangefront, with the objective of achieving a drill density
sufficient to be classified as indicated resource in the upcoming
resource estimate.
RANGEFRONT ZONE HIGHLIGHT
TABLE*
|
|
|
|
|
|
|
|
|
|
|
|
Hole ID (Az, Dip) (degrees) |
From (m) |
To (m) |
Intercept (m) |
Au (g/t) |
Au Cut-Off |
Hole Length (m) |
Target |
Comments |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP685 (300, -75) |
73.2 |
93.0 |
19.8 |
0.23 |
0.15 |
190.5 |
Rangefront North |
Step-Out |
|
|
including |
80.8 |
93.0 |
12.2 |
0.26 |
0.20 |
|
|
and |
105.2 |
126.5 |
21.3 |
0.34 |
0.15 |
|
|
including |
106.7 |
126.5 |
19.8 |
0.35 |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP687 (340, -45) |
76.2 |
94.5 |
18.3 |
0.29 |
0.15 |
221.0 |
Rangefront North |
Step-Out |
|
|
including |
82.3 |
94.5 |
12.2 |
0.36 |
0.20 |
|
|
and |
120.4 |
134.1 |
13.7 |
0.47 |
0.15 |
|
|
including |
120.4 |
131.1 |
10.7 |
0.55 |
0.20 |
|
|
and including |
121.9 |
123.4 |
1.5 |
1.07 |
1.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP690 (30, -45) |
82.3 |
115.8 |
33.5 |
0.30 |
0.15 |
245.4 |
Rangefront North |
Step-Out |
|
|
including |
106.7 |
112.8 |
6.1 |
0.48 |
0.20 |
|
|
and |
121.9 |
137.2 |
15.2 |
0.28 |
0.15 |
|
|
and |
163.1 |
169.2 |
6.1 |
0.57 |
0.20 |
|
|
and |
187.5 |
199.6 |
12.2 |
0.25 |
0.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP692 (270, -58) |
79.2 |
99.1 |
19.8 |
0.27 |
0.15 |
243.8 |
Rangefront North |
Step-Out |
|
|
including |
85.3 |
99.1 |
13.7 |
0.31 |
0.20 |
|
|
and |
141.7 |
161.5 |
19.8 |
1.67 |
0.15 |
|
|
including |
143.3 |
161.5 |
18.3 |
1.79 |
0.20 |
|
|
and including |
150.9 |
157.0 |
6.1 |
4.71 |
1.00 |
|
|
and including |
152.4 |
155.4 |
3.0 |
7.28 |
5.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP694 (315, -45) |
131.1 |
143.3 |
12.2 |
0.59 |
0.20 |
243.8 |
Rangefront North |
Step-Out |
|
|
and |
160.0 |
169.2 |
9.1 |
0.47 |
|
|
and |
185.9 |
193.5 |
7.6 |
0.37 |
0.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP696 (40, -45) |
121.9 |
149.4 |
27.4 |
0.43 |
0.15 |
263.7 |
Rangefront North |
Step-Out |
|
|
including |
121.9 |
132.6 |
10.7 |
0.62 |
0.20 |
|
|
and including |
123.4 |
126.5 |
3.0 |
1.08 |
1.00 |
|
|
including |
138.7 |
147.8 |
9.1 |
0.45 |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP698 (40, -45) |
178.3 |
185.9 |
7.6 |
0.48 |
0.20 |
336.8 |
Rangefront North |
Step-Out |
|
|
and |
201.2 |
221.0 |
19.8 |
0.25 |
0.15 |
|
|
and |
225.6 |
257.6 |
32.0 |
0.21 |
0.15 |
|
|
including |
233.2 |
246.9 |
13.7 |
0.27 |
0.20 |
|
|
and |
259.1 |
272.8 |
13.7 |
0.30 |
0.15 |
|
|
including |
260.6 |
272.8 |
12.2 |
0.32 |
0.20 |
|
|
and |
280.4 |
300.2 |
19.8 |
0.25 |
0.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP704 (310, -60) |
41.1 |
56.4 |
15.2 |
0.21 |
0.15 |
239.3 |
Rangefront North |
Step-Out |
|
|
and |
126.5 |
144.8 |
18.3 |
0.42 |
0.20 |
|
|
and |
157.0 |
160.0 |
3.0 |
0.69 |
|
|
and |
182.9 |
201.2 |
18.3 |
0.34 |
0.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP726 (280, -70) |
195.1 |
263.7 |
68.6 |
1.11 |
0.20 |
361.2 |
Rangefront West |
Step-Out Reduced cyanide solubility below 303
m |
|
|
including |
198.1 |
214.9 |
16.8 |
1.65 |
1.00 |
|
|
including |
217.9 |
231.6 |
13.7 |
1.29 |
|
|
including |
236.2 |
253.0 |
16.8 |
1.29 |
|
|
and |
303.3 |
312.4 |
9.1 |
3.16 |
0.20 |
|
|
including |
304.8 |
312.4 |
7.6 |
3.71 |
1.00 |
|
|
and including |
304.8 |
306.3 |
1.5 |
7.07 |
5.00 |
|
|
LBP722 (340, -67) |
208.8 |
246.9 |
38.1 |
0.59 |
0.15 |
422.1 |
Rangefront West |
Resource Expansion reduced cyanide solubility below 403
m |
|
|
including |
222.5 |
246.9 |
24.4 |
0.82 |
0.20 |
|
|
and including |
236.2 |
245.4 |
9.1 |
1.64 |
1.00 |
|
|
and |
257.6 |
327.7 |
70.1 |
0.65 |
0.20 |
|
|
including |
263.7 |
269.7 |
6.1 |
1.01 |
1.00 |
|
|
including |
272.8 |
281.9 |
9.1 |
1.60 |
|
|
and |
342.9 |
356.6 |
13.7 |
0.33 |
0.15 |
|
|
and |
403.9 |
422.1 |
18.3 |
2.09 |
0.15 |
|
|
including |
414.5 |
422.1 |
7.6 |
4.73 |
1.00 |
|
|
and including |
419.1 |
422.2 |
3.0 |
8.18 |
5.00 |
|
|
|
|
|
|
|
|
|
|
|
|
*Please refer to the full table at the link above for complete
results. Results are reported as drilled thicknesses, with true
thicknesses approximately 50% to 90% of drilled thickness. Gold
grades are uncapped. Au (g/t) = grams per tonne of gold. The base
of the zone is situated at the lowest structural level of the
deposit, such that carbonaceous material is frequently encountered
at the base of the oxide zone, leading to reduced cyanide
solubility at depth.
E ZONE EXPANSION DRILLING
Gently east-dipping gold mineralization that
characterizes most of the Black Pine Gold system rolls over at the
crest of the Black Pine range in the vicinity of the E Zone and
dips westward. Drill holes targeting this westward-dipping portion
of the E Zone successfully encountered near-surface oxide gold
mineralization over significant widths, expanding the zone westward
over 150 m down-slope to the west. Extensive
gold-in-soil anomalies in the area suggest the presence of a
broader zone of mineralization than currently drill tested, with
more drilling planned in the future.
E ZONE HIGHLIGHT TABLE*
|
|
|
|
|
|
|
|
|
|
|
|
Hole ID (Az, Dip) (degrees) |
From (m) |
To (m) |
Intercept (m) |
Au (g/t) |
Au Cut-Off |
Hole Length (m) |
Target |
Comments |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP677 (310, -45) |
38.1 |
51.8 |
13.7 |
0.32 |
0.15 |
239.3 |
E Zone |
Resource Expansion |
|
|
and |
68.6 |
117.3 |
48.8 |
0.55 |
|
|
including |
73.2 |
106.7 |
33.5 |
0.69 |
0.20 |
|
|
and including |
74.7 |
77.7 |
3.0 |
4.42 |
1.00 |
|
|
and including |
76.2 |
77.7 |
1.5 |
6.99 |
5.00 |
|
|
and |
123.4 |
167.6 |
44.2 |
0.26 |
0.15 |
|
|
including |
147.8 |
166.1 |
18.3 |
0.38 |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP678 (130, -45) |
237.7 |
269.7 |
32.0 |
0.42 |
0.15 |
269.7 |
E Zone |
Resource Upgrade |
|
|
including |
266.7 |
269.7 |
3.0 |
1.27 |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP680 (270, -45) |
39.6 |
137.2 |
97.5 |
0.36 |
0.15 |
202.7 |
E Zone |
Resource Expansion |
|
|
including |
39.6 |
109.7 |
70.1 |
0.38 |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP682 (90, -60) |
38.1 |
85.3 |
47.2 |
0.33 |
0.20 |
208.8 |
E Zone |
Resource Upgrade |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP683 (90, -90) |
42.7 |
83.8 |
41.1 |
0.36 |
0.15 |
281.9 |
E Zone |
Resource Expansion |
|
|
|
|
|
|
|
|
|
|
|
|
*Please refer to the full table at the link
above for complete results. Results are reported as drilled
thicknesses, with true thicknesses approximately 50% to 90% of
drilled thickness. Gold grades are uncapped. Au (g/t) = grams per
tonne of gold.
CD ZONE EXPANSION DRILLING
Additional drilling was carried out along the
southwest edge of the CD zone, encountering multiple stacked zones
of oxide gold extending mineralization from the current resource,
both within and along the margins of the CD Zone current resource
pit. Mineralization in this area is open for expansion in all
directions both parallel and perpendicular to the current resource
pit margin. Additional drilling is planned for mid-2023.
CD ZONE HIGHLIGHT TABLE*
|
|
|
|
|
|
|
|
|
|
|
|
Hole ID (Az, Dip) (degrees) |
From (m) |
To (m) |
Intercept (m) |
Au (g/t) |
Au Cut-Off |
Hole Length (m) |
Target |
Comments |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP619 (15, -90) |
41.1 |
68.6 |
27.4 |
0.47 |
0.15 |
152.4 |
CD Pit SE |
Resource Upgrade |
|
|
including |
41.1 |
44.2 |
3.0 |
1.06 |
0.20 |
|
|
including |
50.3 |
68.6 |
18.3 |
0.49 |
|
|
and including |
54.9 |
56.4 |
1.5 |
1.27 |
1.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP621 (15, -50) |
47.2 |
96.0 |
48.8 |
0.37 |
0.20 |
141.7 |
CD Pit SE |
Resource Upgrade |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP622 (100, -50) |
27.4 |
39.6 |
12.2 |
0.22 |
0.15 |
318.5 |
CD Extension |
Step-Out |
|
|
and |
137.2 |
141.7 |
4.6 |
0.48 |
0.20 |
|
|
and |
149.4 |
192.0 |
42.7 |
0.42 |
0.15 |
|
|
including |
150.9 |
172.2 |
21.3 |
0.50 |
0.20 |
|
|
and including |
157.0 |
160.0 |
3.0 |
1.42 |
1.00 |
|
|
and |
231.6 |
253.0 |
21.3 |
0.42 |
0.15 |
|
|
including |
240.8 |
253.0 |
12.2 |
0.60 |
0.20 |
|
|
and including |
240.8 |
243.8 |
3.0 |
1.15 |
1.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP627 (130, -48) |
0.0 |
6.1 |
6.1 |
0.22 |
0.15 |
233.2 |
CD Extension |
Step-out |
|
|
and |
12.2 |
21.3 |
9.1 |
0.29 |
|
|
and |
32.0 |
42.7 |
10.7 |
0.28 |
|
|
and |
48.8 |
56.4 |
7.6 |
0.33 |
|
|
including |
51.8 |
56.4 |
4.6 |
0.43 |
0.20 |
|
|
and |
185.9 |
224.0 |
38.1 |
0.38 |
0.15 |
|
|
including |
185.9 |
202.7 |
16.8 |
0.52 |
0.20 |
|
|
and including |
187.5 |
189.0 |
1.5 |
1.11 |
1.00 |
|
|
including |
208.8 |
222.5 |
13.7 |
0.35 |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP630 (30, -55) |
9.1 |
15.2 |
6.1 |
0.29 |
0.15 |
330.7 |
CD Extension |
Step-Out |
|
|
including |
10.7 |
13.7 |
3.0 |
0.40 |
0.20 |
|
|
and |
25.9 |
35.1 |
9.1 |
0.23 |
0.15 |
|
|
and |
80.8 |
93.0 |
12.2 |
0.26 |
|
|
including |
82.3 |
93.0 |
10.7 |
0.27 |
0.20 |
|
|
and |
157.0 |
169.2 |
12.2 |
0.18 |
0.15 |
|
|
and |
181.4 |
184.4 |
3.0 |
0.42 |
0.20 |
|
|
and |
205.7 |
211.8 |
6.1 |
0.26 |
0.15 |
|
|
including |
208.8 |
211.8 |
3.0 |
0.35 |
0.20 |
|
|
and |
234.7 |
268.2 |
33.5 |
0.35 |
0.15 |
|
|
including |
236.2 |
266.7 |
30.5 |
0.37 |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP633 (60, -58) |
9.1 |
18.3 |
9.1 |
0.29 |
0.15 |
336.8 |
CD Extension |
Step-out |
|
|
including |
12.2 |
18.3 |
6.1 |
0.35 |
0.20 |
|
|
and |
24.4 |
42.7 |
18.3 |
0.21 |
0.15 |
|
|
and |
93.0 |
99.1 |
6.1 |
0.42 |
0.20 |
|
|
and |
117.3 |
137.2 |
19.8 |
0.51 |
|
|
including |
123.4 |
125.0 |
1.5 |
1.20 |
1.00 |
|
|
and |
178.3 |
214.9 |
36.6 |
0.38 |
0.15 |
|
|
including |
178.3 |
185.9 |
7.6 |
0.43 |
0.20 |
|
|
including |
198.1 |
214.9 |
16.8 |
0.52 |
|
|
and including |
208.8 |
210.3 |
1.5 |
1.25 |
1.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
LBP636 (90, -60) |
10.7 |
15.2 |
4.6 |
0.60 |
0.20 |
330.7 |
CD Extension |
Step-out |
|
|
and |
196.6 |
208.8 |
12.2 |
0.45 |
0.20 |
|
|
and |
233.2 |
256.0 |
22.9 |
0.28 |
0.15 |
|
|
including |
234.7 |
245.4 |
10.7 |
0.35 |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
*Please refer to the full table at the link
above for complete results. Results are reported as drilled
thicknesses, with true thicknesses approximately 50% to 90% of
drilled thickness. Gold grades are uncapped. Au (g/t) = grams per
tonne of gold.
QUALIFIED PERSON
Moira Smith, Ph.D., P.Geo., Vice-President
Exploration and Geoscience, Liberty Gold, is the Company's
designated Qualified Person for this news release within the
meaning of National Instrument 43-101 Standards of Disclosure for
Mineral Projects ("NI 43-101") and has reviewed and validated that
the information contained in the release is accurate.
ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring for and
developing open pit oxide deposits in the Great Basin of the United
States, home to large-scale gold projects that are ideal for
open-pit mining. This region is one of the most prolific
gold-producing regions in the world and stretches across Nevada and
into Idaho and Utah. We know the Great Basin and are driven to
discover and advance big gold deposits that can be mined profitably
in open- pit scenarios. Our flagship projects are Black Pine in
Idaho and Goldstrike in Utah, both past- producing open-pit mines,
where previous operators only scratched the surface.
For more information, visit libertygold.ca or contact:
Susie Bell, Manager, Investor Relations Phone:
604-632-4677 or Toll Free 1-877-632-4677 info@libertygold.ca
QUALITY ASSURANCE – QUALITY CONTROL
Drill composites were calculated using a cut-off
of 0.10 g/t Au. Drill intersections are reported as drilled
thicknesses. True widths of the mineralized intervals vary between
30% and 100% of the reported lengths due to varying drill hole
orientations but are typically in the range of 50% to 90% of true
width. Drill samples were assayed by ALS Limited in Reno, Nevada
for gold by Fire Assay of a 30 gram (1 assay ton) charge with an AA
finish, or if over 5.0 g/t were re-assayed and completed with a
gravimetric finish. For these samples, the gravimetric data were
utilized in calculating gold intersections. For any samples
assaying over 0.10 ppm an additional cyanide leach analysis is done
where the sample is treated with a 0.25% NaCN solution and rolled
for an hour. An aliquot of the final leach solution is then
centrifuged and analyzed by Atomic Absorption Spectroscopy. QA/QC
for all drill samples consists of the insertion and continual
monitoring of numerous standards and blanks into the sample stream,
and the collection of duplicate samples at random intervals within
each batch. Selected holes are also analyzed for a 51 multi-element
geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO
17025:2005 Accredited, with the Elko and Twin Falls prep lab listed
on the scope of accreditation.
All statements in this press release, other than
statements of historical fact, are "forward-looking information"
with respect to Liberty Gold within the meaning of applicable
securities laws, including statements that address potential
quantity and/or grade of minerals. Forward-looking information is
often, but not always, identified by the use of words such as
"seek", "anticipate", "plan", "continue", "planned", "expect",
"project", "predict", "potential", "targeting", "intends",
"believe", "potential", and similar expressions, or describes a
"goal", or variation of such words and phrases or state that
certain actions, events or results "may", "should", "could",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made including, among
others, assumptions about future prices of gold, and other metal
prices, currency exchange rates and interest rates, favourable
operating conditions, political stability, obtaining governmental
approvals and financing on time, obtaining renewals for existing
licenses and permits and obtaining required licenses and permits,
labour stability, stability in market conditions, availability of
equipment, timing of assay results, scalability of metallurgical
results, results and accuracy of mineral resources, the
availability of drill rigs, successful resolution of disputes and
anticipated costs and expenditures. Many assumptions are based on
factors and events that are not within the control of Liberty Gold
and there is no assurance they will prove to be correct.
Such forward-looking information, involves known
and unknown risks, which may cause the actual results to be
materially different from any future results expressed or implied
by such forward-looking information, including, risks related to
the interpretation of results and/or the reliance on technical
information provided by third parties as related to the Company’s
mineral property interests; changes in project parameters as plans
continue to be refined; current economic conditions; future prices
of commodities; possible variations in grade or recovery rates; the
costs and timing of the development of new deposits; failure of
equipment or processes to operate as anticipated; the failure of
contracted parties to perform; the timing and success of
exploration activities generally; timing of any preliminary
economic assessments or feasibility assessments; scalability of
metallurgical results, delays in permitting; possible claims
against the Company; labour disputes and other risks of the mining
industry; delays in obtaining governmental approvals, financing or
in the completion of exploration as well as those factors discussed
in the Annual Information Form of the Company dated March 25, 2022
in the section entitled "Risk Factors", under Liberty Gold’s SEDAR
profile at www.sedar.com.
Although Liberty Gold has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate as actual results and future events could
differ materially from those anticipated in such statements.
Liberty Gold disclaims any intention or obligation to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise.
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