Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the
“Company”) is pleased to report results from Phase 4A metallurgical
testing of oxide material from the Rangefront Zone at its Black
Pine Oxide Gold Project (“Black Pine”) in southeastern Idaho.
HIGHLIGHTS
- Phase 4A column leach testing on
the Rangefront Zone included 24 variability composites from
large-diameter (“PQ”) drill core representing the range of rock
types and gold (“Au”) grades encountered in oxide
mineralization.
-
Key results include:
-
86.9% “weighted average gold
extraction”1 from column leach
tests.
-
Gold extractions ranging from 54.1% to 95.8%.
-
>80% of leachable gold extracted within 10
days.
-
These new metallurgical data were not included in the recent
mineral resource update (the “Black Pine Resource”)2 and will be
added to the next resource update expected in late 2023.
-
These new column test results suggest an increase in recoverable
gold in the Rangefront Zone of approximately 4% in the upper plate
sandstone unit (“Ppos”) and approximately 10% in the middle plate
limestone unit (“Pola”) relative to the recovery models used in the
Black Pine Resource.
-
The Rangefront Zone mineralization comprises approximately 27% of
the Black Pine Resource 2.
-
These new data are being used to develop metallurgical recovery
equations to feed into an updated, deposit-wide gold recovery model
for use in future resource, engineering, and economic
modeling. Aggregate metallurgical data from all phases of
testwork to date indicate a gold recovery percentage in the mid-70s
at the average grade used in the Black Pine Resource.
-
Aggregate test results across four phases of metallurgical study
over four years, comprising testwork on 113 composites and six bulk
samples, continue to support a technically simple, low initial
capital, low operating cost, run-of-mine (“ROM”) heap leach
processing route for Black Pine oxide mineralization.
______________________1 Weighted average gold extraction is
obtained using the following equation: (composite head grade
(grams/tonnes) multiplied by extraction (%) for all head
grades)/sum of all head grades. Using arithmetic averages
tends to over-represent low grade composites and under-represent
high grade composites. The arithmetic extraction average of
the 24 column tests is 76%.
2 See press release dated February 7, 2023 and the technical
report entitled “Technical Report on the Updated Mineral Resource
Estimate at the Black Pine Gold Project, Cassia and Oneida
Counties, Idaho, USA”, effective January 21, 2023, and signed March
10, 2023, co-authored by Ryan Rodney, CPG, and Gary L. Simmons,
MMSA, both independent Qualified Persons under NI 43-101; and Moira
Smith, Ph.D., P.Geo. of Liberty Gold Corp, available on
SEDAR.com.
Jon Gilligan, Chief Operating Officer
for Liberty Gold said, “Data from the extensive
metallurgical test work completed at Black Pine continue to
indicate rapid leaching and relatively high gold extractions from
these oxide ores. With these results, the Rangefront Zone is now
the highest-recovery oxide material we have found at Black Pine.
Recovery continues to be relatively insensitive to particle size
and there is a predictable grade-recovery relationship, both of
which support run of mine heap leaching as the preferred processing
route. The quality and quantity of metallurgical information today
equals or exceeds pre-feasibility level requirements, significantly
de-risking the project.”
BLACK PINE METALLURGICAL TEST WORK
Liberty Gold has completed multiple phases of
metallurgical testing at Black Pine including:
- Bulk sample
column test results
- Phase 1A3 (6 x 300 kilogram surface
bulk samples):
- 78.9% weighted
average gold extraction, ranging up to 92.8%
- Variability
composite column tests (113 composites from PQ drill core)
- Phase 1B4 (29 composites):
- 82.9% weighted average gold
extraction, ranging up to 94.5%
- Phase 25 (45 composites):
- 80.8% weighted average gold
extraction, ranging up to 94.8%
- Phase 36 (15 low-grade composites):
- 65.2% weighted average gold
extraction ranging up to 80.3%
- Phase 4A (24
composites):
- 86.9%
weighted average gold extraction, ranging up to 95.8%
______________________3 Previously referred to as “Phase 1” –
see press release dated June 16, 20204 Previously referred to as
“Phase 2” – see press release dated August 18, 20205 Previously
referred to as “Phase 3” – see press release dated October 27,
20216 Previously referred to as “Phase 4” – see press release dated
October 27, 2021
Results generated by the Liberty Gold
metallurgical program are consistent with historical column test
results from three surface bulk samples and five drill core samples
generated by Noranda in 1988 prior to mining, which returned 80.8%
weighted average gold extraction.
The deposit-wide gold extraction is represented
through the aggregate test data illustrated in Figure 1 below. This
graphic illustrates the gold grade to gold extraction relationship
for all column tests conducted to date at Black Pine and clearly
demonstrates a) the improved metallurgical response from the
Rangefront Zone materials relative to the other samples and b) the
Phase 3 low-grade samples performing consistently with the
grade-extraction trend for Black Pine material overall.
For a graph of results of the Liberty gold grade-gold extraction
results for all column test work to date, see Figure 1 or click
here:
https://libertygold.ca/images/news/2023/March/Figure1BlackPineGoldGradeGoldExtractionResults03222023.pdf
Figure 1: Black Pine Gold Grade-Gold Extraction
Results
*Data from several columns of Transitional Material are included
in the above graph.
Two additional phases of metallurgical testwork
are currently in progress, comprising:
- Phase 4B:
Discovery Zone, E-Pit, A-Pit, F Zone, Tallman Pit and M Zone – 25
composites.
- Phase 4C: C/D
Pit – 12 composites.
Results from these two phases of testing will be
completed in the second half of 2023.
Internal clay content and rock quality models
indicate that a small portion of the Black Pine Resource may
require in-pit or top-of heap blending, eliminating the need for a
crush/agglomeration flowsheet component, and supporting simple ROM
heap leaching at Black Pine.
Metallurgical test work completed on Black Pine
to date equals or exceeds pre-feasibility requirements, with oxide
ROM heap leach recoveries characterised currently by 16 different
grade-recovery relationships. It is anticipated that one further
phase of testwork beyond that currently in progress is required to
meet feasibility standards on current resources.
All metallurgical work at Black Pine has been
supervised by Gary Simmons MMSA, formerly the Director of
Metallurgy and Technology for Newmont Mining Corp. Mr. Simmons has
managed or supervised many metallurgical testing programs on
similar Carlin-style sedimentary rock-hosted oxide gold deposits
throughout the Great Basin.
PHASE 4A TEST RESULTS
-
The 24 Rangefront Zone column leach tests produced a weighted
average 86.9% gold extraction at an average gold
grade of 0.47 grams per tonne gold (“g/t Au”), with a range from
54.1% to 95.8% gold extraction (see Table 1
below).
-
Gold extraction was rapid, with >80% of the leachable gold
extracted within the first 10 days of column leaching (see Figure 2
below).
-
Percent gold extraction is well-correlated with head grade, with
the highest-grade composites returning the higher extraction
numbers (see Figure 1 above). Of the 24 column tests:
-
17 column tests were conducted on material below 0.5 g/t Au and
returned weighted average 79.4% gold
extraction.
-
7 column tests were conducted on material between 0.5 g/t Au and
1.0 g/t Au and returned weighted average 90.9%
gold extraction.
-
Gold extraction is relatively insensitive to particle size. Most
composite extraction results can be projected to coarse particle
sizes without significant loss of gold extraction. The relative
percent gold extraction insensitivity to increasing particle size
is shown in Table 2.
For a table of results of the Black Pine Phase 4A variability
composite test results, see Table 1 or click here:
https://libertygold.ca/images/news/2023/March/Table1BlackPinePhase4AVariabilityCompositeTestResults03222023.pdf
Table 1: Results, Black Pine Phase 4A Variability
Composite Testing
Black Pine Phase 4A - Rangefront Variability Composite
Testing |
Phase 4A Rangefront Variability Composites |
Fine Bottle Roll |
Coarse Bottle Roll |
Column Tests |
Feed Target P80 (75µm) |
Feed Target P80 (1,700µm) |
Direct Leach |
CIL Leach |
Direct Leach |
CIL Leach |
Composite ID |
Rock Formation |
Feed P80 (µm) |
Calc Hd Au (ppm) |
Gold Extracted (%) |
Feed P80 (µm) |
Calc Hd Au (ppm) |
Gold Extracted (%) |
Feed P80 (µm) |
Calc Hd Au (ppm) |
Gold Extracted (%) |
Feed P80 (µm) |
Calc Hd Au (ppm) |
Gold Extracted (%) |
Feed P80 (mm) |
Calc Hd Au (ppm) |
Gold Extracted (%) |
BP533-90 |
RF-Pola |
54 |
0.260 |
82.7 |
54 |
0.264 |
95.8 |
1,460 |
0.246 |
85.0 |
1,260 |
0.252 |
91.7 |
24.2 |
0.239 |
90.8 |
BP533-91 |
RF-Pola |
36 |
0.825 |
79.5 |
54 |
0.798 |
88.3 |
1,580 |
0.804 |
80.5 |
1,570 |
0.823 |
83.4 |
23.3 |
0.782 |
86.7 |
B511CA-92 |
RF-Ppos |
71 |
0.379 |
75.2 |
69 |
0.368 |
82.6 |
1,430 |
0.370 |
70.0 |
1,350 |
0.390 |
71.8 |
11.3 |
0.368 |
80.4 |
B511CA-93 |
RF-Ppos |
64 |
0.173 |
71.1 |
69 |
0.172 |
90.7 |
1,560 |
0.147 |
67.3 |
1,430 |
0.170 |
80.6 |
25.2 |
0.150 |
82.7 |
B511CA-94 |
RF-Ppos |
72 |
0.142 |
69.7 |
70 |
0.236 |
93.2 |
1,450 |
0.202 |
74.8 |
1,600 |
0.140 |
75.0 |
24.0 |
0.137 |
79.6 |
B511CA-95 |
RF-Pola |
84 |
0.223 |
78.0 |
77 |
0.146 |
85.6 |
1,520 |
0.183 |
75.4 |
1,460 |
0.217 |
88.0 |
24.3 |
0.209 |
88.5 |
B511CA-96 |
RF-Pola |
87 |
1.360 |
86.8 |
84 |
1.250 |
93.7 |
1,370 |
1.238 |
89.9 |
1,400 |
1.292 |
91.3 |
24.7 |
1.322 |
92.4 |
B511CA-97 |
RF-Pola |
182 |
1.673 |
87.7 |
112 |
1.802 |
95.1 |
1,300 |
1.768 |
92.5 |
1,490 |
1.729 |
93.9 |
22.4 |
1.966 |
95.8 |
B511CA-98 |
RF-Pola |
35 |
0.994 |
84.4 |
88 |
0.930 |
91.3 |
1,450 |
1.054 |
86.4 |
1,390 |
1.012 |
87.1 |
25.0 |
0.938 |
88.7 |
B511CA-99 |
RF-Pola |
190 |
0.270 |
73.7 |
150 |
0.251 |
83.3 |
2,190 |
0.268 |
72.8 |
2,100 |
0.266 |
78.9 |
28.8 |
0.352 |
84.1 |
BP541-100 |
RF-Ppos |
65 |
0.274 |
73.0 |
53 |
0.265 |
82.6 |
1,490 |
0.298 |
73.2 |
1,570 |
0.278 |
72.3 |
27.8 |
0.261 |
78.5 |
BP541-101 |
RF-Ppos |
64 |
0.502 |
79.3 |
64 |
0.504 |
86.5 |
1,320 |
0.522 |
77.4 |
1,590 |
0.491 |
77.8 |
10.9 |
0.459 |
81.3 |
BP541-102 |
RF-Ppos |
73 |
0.169 |
81.7 |
69 |
0.165 |
91.5 |
1,720 |
0.142 |
83.8 |
1,320 |
0.158 |
85.4 |
22.2 |
0.148 |
91.2 |
BP541-103 |
RF-Ppos |
79 |
0.230 |
80.4 |
75 |
0.247 |
87.9 |
1,430 |
0.239 |
86.6 |
1,340 |
0.230 |
81.7 |
25.3 |
0.239 |
89.1 |
BP541-104 |
RF-Ppos |
83 |
0.246 |
67.5 |
67 |
0.230 |
75.7 |
1,390 |
0.264 |
74.6 |
1,410 |
0.223 |
67.7 |
24.3 |
0.214 |
70.6 |
BP541-105 |
RF-Pola |
92 |
0.252 |
80.2 |
105 |
0.252 |
87.7 |
890 |
0.261 |
83.5 |
1,510 |
0.248 |
86.7 |
12.4 |
0.224 |
87.5 |
BP541-106 |
RF-Pola |
64 |
0.568 |
80.3 |
42 |
0.592 |
89.0 |
1,270 |
0.620 |
84.5 |
1,360 |
0.573 |
84.5 |
13.7 |
0.597 |
88.6 |
BP541-107 |
RF-Pola |
47 |
0.226 |
71.7 |
69 |
0.216 |
82.9 |
2,540 |
0.289 |
80.6 |
1,290 |
0.197 |
74.6 |
12.5 |
0.200 |
76.5 |
BP556-108 |
RF-Ppos |
52 |
0.199 |
63.3 |
56 |
0.167 |
71.9 |
1,680 |
0.185 |
62.7 |
1,170 |
0.160 |
60.6 |
13.5 |
0.144 |
59.0 |
BP556-109 |
RF-Pola |
62 |
0.310 |
61.0 |
65 |
0.317 |
71.9 |
1,500 |
0.340 |
60.3 |
1,520 |
0.296 |
56.1 |
24.6 |
0.281 |
54.1 |
BP556-110 |
RF-Pola |
42 |
0.236 |
80.9 |
62 |
0.154 |
75.3 |
1,440 |
0.250 |
77.2 |
1,490 |
0.134 |
63.4 |
24.5 |
0.123 |
66.7 |
BP556-111 |
RF-Pola |
81 |
1.025 |
84.5 |
68 |
1.028 |
89.2 |
1,350 |
1.073 |
84.4 |
1,320 |
1.035 |
84.6 |
24.6 |
0.948 |
86.6 |
BP556-112 |
RF-Pola |
57 |
0.742 |
82.6 |
62 |
0.764 |
89.1 |
1,330 |
0.822 |
86.4 |
1,390 |
0.790 |
85.2 |
12.3 |
0.738 |
90.0 |
BP556-113 |
RF-Pola |
66 |
0.263 |
80.6 |
57 |
0.256 |
82.8 |
1,440 |
0.278 |
78.8 |
1,400 |
0.257 |
80.9 |
24.1 |
0.234 |
81.6 |
For a graph of results of the Black Pine Phase 4A variability
composite leach curves, see Figure 2 or click here:
https://libertygold.ca/images/news/2023/March/Figure2BlackPinePhase4AVariabilityCompositeLeachCurves03222023.pdf
Figure 2: Cumulative Leach Curves Confirm Rapid Leach
Kinetics
For a table of results of the Black Pine Phase 4A variability
composite gold extraction sensitivity to modelled crush size
testing, see Table 2 or click here:
https://libertygold.ca/images/news/2023/March/Table2BlackPinePhase4AVariabilityCompositeGoldExtractionSensitivitytoCrushSize03222023.pdf
Table 2: Results, Black Pine Phase 4A Variability
Composite Gold Sensitivity to Crush Size
Black Pine Phase 4A - Rangefront Variability Composite Gold
Extraction Sensitivity to Modelled Crush Size |
KCASampleNo. |
Comp ID |
RockFormation |
Calc HdAu (ppm) |
|
75 µ |
1700 µ |
P8012.5 mm |
P8025 mm |
P8050 mm |
P8075 mm |
P80100 mm |
P80125 mm |
P80150 mm |
P80175 mm |
P80200 mm |
P80250 mm |
|
95101 A |
BP533-90 |
RF-Pola |
0.252 |
95.1 |
92.5 |
90.8 |
90.2 |
89.6 |
89.3 |
89.1 |
88.9 |
88.7 |
88.6 |
88.5 |
88.3 |
95102 A |
BP533-91 |
RF-Pola |
0.806 |
87.0 |
86.0 |
85.4 |
85.2 |
84.9 |
84.8 |
84.7 |
84.7 |
84.6 |
84.5 |
84.5 |
84.4 |
95106 A |
B511CA-95 |
RF-Pola |
0.196 |
87.4 |
87.4 |
87.4 |
87.4 |
87.4 |
87.4 |
87.4 |
87.4 |
87.4 |
87.4 |
87.4 |
87.4 |
95107 A |
B511CA-96 |
RF-Pola |
1.292 |
93.1 |
92.4 |
91.9 |
91.8 |
91.6 |
91.5 |
91.5 |
91.4 |
91.4 |
91.3 |
91.3 |
91.2 |
95108 A |
B511CA-97 |
RF-Pola |
1.788 |
94.9 |
94.9 |
94.9 |
94.9 |
94.9 |
94.9 |
94.9 |
94.9 |
94.9 |
94.9 |
94.9 |
94.9 |
95109 A |
B511CA-98 |
RF-Pola |
0.986 |
90.4 |
88.9 |
88.0 |
87.7 |
87.4 |
87.2 |
87.1 |
87.0 |
86.9 |
86.9 |
86.8 |
86.7 |
95110 A |
B511CA-99 |
RF-Pola |
0.281 |
82.1 |
82.1 |
82.1 |
82.1 |
82.1 |
82.1 |
82.1 |
82.1 |
82.1 |
82.1 |
82.1 |
82.1 |
95114 B |
BP541-103 |
RF-Pola |
0.237 |
86.2 |
86.2 |
86.2 |
86.2 |
86.2 |
86.2 |
86.2 |
86.2 |
86.2 |
86.2 |
86.2 |
86.2 |
95115 B |
BP541-104 |
RF-Pola |
0.235 |
73.8 |
71.1 |
69.3 |
68.7 |
68.1 |
67.7 |
67.5 |
67.3 |
67.1 |
67.0 |
66.9 |
66.7 |
95116 A |
BP541-105 |
RF-Pola |
0.247 |
87.5 |
87.3 |
87.2 |
87.1 |
87.1 |
87.1 |
87.1 |
87.0 |
87.0 |
87.0 |
87.0 |
87.0 |
95117 A |
BP541-106 |
RF-Pola |
0.590 |
87.8 |
87.3 |
87.0 |
86.8 |
86.7 |
86.7 |
86.6 |
86.6 |
86.5 |
86.5 |
86.5 |
86.5 |
95118 A |
BP541-107 |
RF-Pola |
0.226 |
81.4 |
77.4 |
74.8 |
73.9 |
73.0 |
72.4 |
72.1 |
71.8 |
71.5 |
71.3 |
71.2 |
70.9 |
95120 A |
BP556-109 |
RF-Pola |
0.309 |
61.7 |
58.2 |
55.9 |
55.1 |
54.4 |
53.9 |
53.6 |
53.3 |
53.1 |
52.9 |
52.8 |
52.5 |
95121 A |
BP556-110 |
RF-Pola |
0.179 |
80.9 |
74.1 |
69.7 |
68.2 |
66.6 |
65.8 |
65.1 |
64.6 |
64.2 |
63.9 |
63.6 |
63.1 |
95122 A |
BP556-111 |
RF-Pola |
1.022 |
88.1 |
86.7 |
85.8 |
85.5 |
85.2 |
85.0 |
84.9 |
84.8 |
84.7 |
84.6 |
84.6 |
84.5 |
95123 A |
BP556-112 |
RF-Pola |
0.771 |
88.1 |
88.1 |
88.1 |
88.1 |
88.1 |
88.1 |
88.1 |
88.1 |
88.1 |
88.1 |
88.1 |
88.1 |
95124 A |
BP556-113 |
RF-Pola |
0.258 |
82.4 |
81.7 |
81.3 |
81.2 |
81.0 |
80.9 |
80.9 |
80.8 |
80.8 |
80.8 |
80.7 |
80.7 |
Weighted Average |
0.569 |
88.5 |
81.0 |
79.5 |
79.0 |
78.5 |
78.2 |
78.0 |
77.8 |
77.7 |
77.6 |
77.5 |
77.3 |
|
95103 A |
B511CA-92 |
RF-Ppos |
0.375 |
79.9 |
78.0 |
76.7 |
76.3 |
75.8 |
75.6 |
75.4 |
75.2 |
75.1 |
75.0 |
74.9 |
74.8 |
95104 A |
B511CA-93 |
RF-Ppos |
0.162 |
88.6 |
84.3 |
81.6 |
80.6 |
79.7 |
79.1 |
78.7 |
78.4 |
78.2 |
77.9 |
77.8 |
77.4 |
95105 A |
B511CA-94 |
RF-Ppos |
0.171 |
89.7 |
82.1 |
77.3 |
75.6 |
73.9 |
72.9 |
72.2 |
71.7 |
71.2 |
70.9 |
70.5 |
70.0 |
95111 A |
BP541-100 |
RF-Ppos |
0.275 |
79.9 |
77.6 |
76.2 |
75.7 |
75.2 |
74.9 |
74.7 |
74.5 |
74.4 |
74.3 |
74.2 |
74.0 |
95112 A |
BP541-101 |
RF-Ppos |
0.496 |
85.0 |
81.3 |
78.9 |
78.1 |
77.2 |
76.7 |
76.4 |
76.1 |
75.9 |
75.7 |
75.6 |
75.3 |
95113 A |
BP541-102 |
RF-Ppos |
0.156 |
89.6 |
89.4 |
89.2 |
89.2 |
89.1 |
89.1 |
89.1 |
89.1 |
89.1 |
89.1 |
89.1 |
89.0 |
95119 A |
BP556-108 |
RF-Ppos |
0.171 |
63.6 |
61.3 |
59.9 |
59.4 |
58.9 |
58.6 |
58.4 |
58.3 |
58.2 |
58.0 |
58.0 |
57.8 |
Weighted Average |
0.258 |
82.3 |
79.2 |
77.2 |
76.5 |
75.8 |
75.4 |
75.1 |
74.9 |
74.7 |
74.6 |
74.4 |
74.2 |
METALLURGICAL TEST PROGRAM
Samples for Phase 4A test work were obtained
through drilling PQ core holes. Composites were selected
through consideration of rock type, alteration and gold grade to
achieve a wide range of geo-metallurgical types. Composites were
assembled in Elko, Nevada by Liberty Gold staff, utilizing one-half
or three-quarter sawed core, then shipped to Kappes, Cassiday and
Associates in Reno, Nevada for metallurgical testing, comprising
bottle rolls, column testing and geo-metallurgical
characterization, including gold and silver assays, cyanide
solubility, sulphur and carbon speciation, preg-robbing
analysis, ICP geochemical assays, whole rock analysis, QXRD,
load-permeability tests, modified SMC comminution testing, Bond
Abrasion (Ai) testing and environmental chemistry.
For a map showing locations of drill holes used for
metallurgical testing, see Figure 3, below, or click
here:
https://libertygold.ca/images/news/2023/March/Figure3BlackPineMetMap03222023.pdf
Figure 3: Location of Drillholes used for Black Pine
Metallurgical Samples
Program details included:
- Coarse bottle roll tests (target of 80% passing 10 mesh or 1.7
millimeter (“mm”) particle size).
- Fine bottle roll tests (target of 80% passing 200 mesh or 75
micron particle size).
- The direct leach samples were rolled/agitated in bottles in a
1.0 grams per liter (“g/l”) dilute sodium cyanide (“NaCN”) solution
for 72 hours (for 200 mesh) or 144 hours (for 10 mesh).
- The 200 mesh (75 microns) CIL samples were rolled/agitated in
bottles for 72 hours in a 1.0 g/l dilute NaCN solution, containing
20 g/l of activated carbon.
- Composites were leached in 10.2 mm and 15.2 mm (four and six
inch) diameter columns between 78 to 90 days. And were leached with
low strength (0.50 g/l) NaCN solution.
QUALIFIED
PERSONPeter Shabestari, P.Geo., Vice-President
Exploration, 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 GOLDLiberty 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.
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
CONTROLDrill 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 Au 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 parts per million 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, the potential size of the
mineralized zone, the proposed timing of exploration and
development plans, the expansion and future resource growth
expected at Black Pine, expected capital costs at Black Pine, the
potential processing routes, expected gold recoveries from the
Black Pine mineralized material, the potential upgrade of inferred
mineral resources to measured and indicated mineral resources, the
potential for future additions to the current mineral resource
estimate, the 2023 work program and the results thereof, the timing
and results of any resource updates and the planned development
work at Black Pine. 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, 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; the timing of the publication of
any updated resources; 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.
Note to United States Investors Concerning
Estimates of Measured, Indicated and Inferred Resources
The information in this News Release, including
any information incorporated by reference, and disclosure documents
of Liberty Gold that are filed with Canadian securities regulatory
authorities concerning mineral properties have been prepared in
accordance with the requirements of securities laws in effect in
Canada, which differ from the requirements of United States
securities laws.
Without limiting the foregoing, these documents
use the terms “measured resources”, “indicated resources”,
“inferred resources” and “probable mineral reserves”. These terms
are Canadian mining terms as defined in, and required to be
disclosed in accordance with, NI 43-101, which references the
guidelines set out in the Canadian Institute of Mining, Metallurgy
and Petroleum (the “CIM”) – CIM Definition
Standards on Mineral Resources and Reserves (“CIM
Definition Standards”), adopted by the CIM Council, as
amended. However, these standards differ significantly from the
mineral property disclosure requirements of the United States
Securities and Exchange Commission (the “SEC”) in
Regulation S-K Subpart 1300 (the “SEC Modernization
Rules”) under the United States Securities Act of 1934, as
amended. The Company does not file reports with the SEC and is not
required to provide disclosure on its mineral properties under the
SEC Modernization Rules and will continue to provide disclosure
under NI 43-101 and the CIM Definition Standards.
Liberty Gold (TSX:LGD)
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