Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the
“Company”) is pleased to announce a significant milestone in the
development of its Black Pine Project, located in Cassia and Oneida
counties, Idaho. Pilot Gold (USA) Inc., a wholly owned subsidiary
of Liberty Gold Corp., has prepared and submitted the mining
Pre-Plan of Operations (“PPO”) for the Black Pine Oxide Gold
Project (“Black Pine Project”), a critical step in the advancement
of the project into the Federal and State permitting process and
onwards, towards production.
The Black Pine deposit is situated approximately
5 miles south of Juniper, Idaho, within the United States Forest
Service (“USFS”) Sawtooth National Forest and on adjacent lands
administered by the U.S. Bureau of Land Management (“BLM”) from the
Pocatello Field Office. The project encompasses a largely
contiguous block of 622 unpatented federal lode claims, state
minerals, and private properties hosting a multi-million ounce
oxide gold mineral resource. Liberty Gold has been exploring the
project since acquisition in 2016 and recently completed the major
milestone of one thousand exploration holes drilled by the Company
on the property. (See press release dated September 5, 2023)
Liberty Gold is dedicated to responsible,
sustainable exploration and mining practices and has embarked on a
comprehensive process of planning, engineering, and permitting in
close collaboration with regulatory agencies to ensure
environmentally sound and sustainable operations. The Company’s
second annual ESG report was recently published (see press release
dated September 5, 2023). The submission of the mining Pre-Plan of
Operations for the Black Pine Project to the USFS (acting as lead
Federal Agency), BLM and Idaho Governor’s Office of Energy and
Mineral Resources, is a further critical step in advancing the
project.
The conceptual project entails re-starting
conventional open pit mining in pre-existing historical pits,
expanding these pits, and developing new open pits in previously
unmined areas. The extracted oxide gold mineralization would be
processed using the well-established run-of-mine heap leaching
method, with gold produced as dore bars on site. The Company is
committed to maintaining the highest environmental standards and
employing established metallurgical processes that have been used
successfully at the Black Pine site and at many other mine
sites.
Figure 1: Conceptual Site Layout, Black
Pine Project
https://www.globenewswire.com/NewsRoom/AttachmentNg/3628157e-5c33-4725-b42b-e4bb7e6f5c14
As part of its commitment to excellence, Liberty
Gold is pleased to announce the selection of M3 Engineering, an
international engineering firm with a wealth of experience in
large-scale mining operations and environmental stewardship, as the
Lead Engineer for the Black Pine Oxide Gold Project. The M3
Engineering team brings an impressive track record of success in
designing, constructing, and overseeing multiple mining projects of
a similar nature to that proposed at Black Pine, while prioritizing
environmental sustainability and regulatory compliance.
"We are excited to take this significant step
forward in the development of the Black Pine Project," stated
Jason Attew, President and CEO of Liberty Gold.
"The submission of the mining Pre-Plan of Operations reflects our
dedication to responsible mining practices, our desire to engage
with the regulatory authorities early in the permitting process in
a transparent and inclusive manner and marks a pivotal moment in
our journey towards realizing the project's full potential. We are
equally thrilled to welcome M3 Engineering to our team. With their
expertise and guidance, we are confident in our ability to develop
and execute a world-class mining operation at Black Pine that
aligns with our commitment to environmental stewardship and builds
opportunity with local communities.”
Liberty Gold remains committed to collaboration
with regulatory agencies, stakeholders, and local communities as
the project advances to the permitting and development phases. The
Company will continue to prioritize environmental studies,
community engagement, and sustainable resource management as it
progresses toward the formal submission of the Mine Plan of
Operations expected in second half of 2024.
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
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, the timing and
success of future plans and objectives in the areas of sustainable
development, health, safety, environment, community development;
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; delays in permitting; possible
claims against the Company; labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals, the
completion of exploration as well as those factors discussed in the
Annual Information Form of the Company dated March 28, 2023 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.
Liberty Gold (TSX:LGD)
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