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Liberty Gold Announces Results of Infill and Step Out RC Drilling along the Main Goldstrike Deposit, Great Basin, USA

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Liberty Gold Announces Results of Infill and Step Out RC Drilling along the Main Goldstrike Deposit, Great Basin, USA

 

 

 

 

 

Liberty Gold Corp. (TSX:LGD) is pleased to announce results from ongoing Reverse Circulation drilling at the Goldstrike Project, the flagship of its three principal gold projects located in the prolific Great Basin of the United States. Located in southwestern Utah, Goldstrike is a past-producing oxide – heap leach gold mine that contains a large, shallow, district-scale, Carlin-style gold system.

 

Liberty Gold drilled a total of 24,716 metres (“m”) in 200 RC and 15 diamond core holes in 2018.  The objective of the drilling reported below was to continue to push the pit-constrained resource outward and downward, to grow the resource and convert Inferred resources to Indicated resources.

 

The western portion of the Main Zone was subject to infill drilling of a 150 x 75 m inlier near the southern edge of the Preliminary Economic Assessment 1 pit that was essentially undrilled.  Results have been received from seven drill holes, with additional holes pending. Drilling has also been completed within, under and adjacent to the PEA pit shell further to the west.  Additional mineralization was encountered in several locations.

 

Drill Highlights include:

 

WEST MAIN ZONE

 

  • 1.01 grams per tonne gold (g/t Au) over 9.1 m and 0.30 g/t Au over 10.7 m and 0.80 g/t Au over 25.9 m including 2.03 g/t Au over 4.6 m in PGS633 (from surface)
  • 0.62 g/t Au over 61 m including 1.70 g/t Au over 7.6 m in PGS635
  • 0.63 g/t Au over 24.4 m in PGS639
  • 1.34 g/t Au over 3.0 m and 0.53 g/t Au over 24.4 m in PGS642
  • 0.52 g/t Au over 22.9 m in PGS637
  • 0.74 g/t Au over 21.3 m and 0.42 g/t Au over 48.8 m and 0.27 g/t au over 9.1 m in PGS584
  • 0.97 g/t Au over 33.5 m including 1.64 g/t Au over 15.2 m in PGS595
  • 1.06 g/t Au over 16.8 m in PGS597
  • 0.52 g/t Au over 9.1 m and 0.46 g/t Au over 33.5 m in PGS608

 

KEY POINTS

 

  • Drilling in the south Main Zone area extends a known zone of higher-grade mineralization another 150 m to the west-northwest along the near-vertical Hamburg Fault feeder structure.
  • This drilling fills in a large inlier with little drilling or previously identified mineralization southwest of the southern border of the PEA pit.
  • Intercepts are relatively shallow, and likely project to surface in a covered area to the south of the drill sites.
  • Results will be incorporated into an updated resource estimate in Q1 2019.
  • Infill drilling in the western Main Zone filled in key gaps within higher-grade corridors of mineralization, in order to convert areas of Inferred resource to Indicated.
  • Step-out drilling extended mineralization to depth and to the west along the west edge of the PEA pit.

 

For a complete table of drill results from the current holes, please click here: 

 http://libertygold.ca/images/sites/default/files/GS_Intercepts11152018.pdf

 

For a map of drill collars and traces for the current release, please click here: 

http://libertygold.ca/images/sites/default/files/Goldstrike_NR11152018.pdf

 

Liberty Gold continues to meet its project enhancement goals in 2018, commencing with a maiden resource estimate released in February2. A subsequent PEA is based on this resource, which includes drill results through the end of 2017.  The 2018 reverse circulation program was completed on November 1, 2018. The program focused on 1) infill and expansion of the resource; 2) testing of the historic heap-leach, stockpile and waste dump areas that are largely situated within the PEA pit and counted as waste in the model (see August 16, 2018 press release); and 3) testing of new targets property-wide.  An amendment to the current Plan of Operations to grant access to an additional >878 acres in and adjacent to the resource area is expected before the end of the year.

 

Goldstrike is located in the eastern Great Basin, immediately adjacent to the Utah/Nevada border, and is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s Carlin trend.  Like Kinsley Mountain and Newmont’s Long Canyon deposit, Goldstrike represents part of a growing number of Carlin-style gold systems located off the main Carlin and Cortez trends in underexplored parts of the Great Basin.  The historic Goldstrike Mine operated from 1988 to 1994, with 209,000 ounces of gold produced from 12 shallow pits, at an average grade of 1.2 g/t Au and an average recovery of approximately 75%.

 

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. Drill composites were calculated using a cut-off of 0.20 g/t. 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 60 to 80% 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 0.200 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 AAS.  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 prep lab listed on the scope of accreditation.

 

ABOUT LIBERTY GOLD

Liberty Gold is focused on exploring 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 Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

 

Posted November 15, 2018

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