LBP408: 0.63 g/t Au over 112.8 m including 0.74 g/t Au over 73.2 m
LBP418: 0.50 g/t Au over 42.7 m and 1.00 g/t Au over 24.4 m
Liberty Gold Corp. (TSX: LGD) (OTCQX: LGDTF) is pleased to announce that follow-up reverse circulation drilling at the D-4 discovery at Rangefront confirms the presence of a major new mineralized zone at its Black Pine Oxide Gold Project, southeast Idaho.
This area, located to the southeast of Rangefront fault, is being re-named Rangefront Focus Area (“RFA”), as its scale is potentially similar to the Discovery Zone, where three-quarters of the Black Pine resource is located. Drilling to date has expanded this broad mineralized zone 1,000 metres in a north-south direction, with potential to expand at least 800 m in an east-west direction. The RFA remains open to extension in all directions outward from the initial D-4 discovery area, with assay results from 25 additional holes pending as of the date of this release. Two drills are now focused exclusively on the RFA to sequentially drill off the discovery for incorporation into an updated resource estimate. A third drill will be moved to this area with drilling continuing through the winter months.
The confirmed scale of the RFA discovery, coupled with recently identified value-enhancing cut-off grade and Run-of-Mine processing optimizations, has led the Company to expand the scope of the Preliminary Economic Assessment in progress on Black Pine. We are targeting an updated mineral resource estimate and PEA, which will now include the RFA, in Q3 2022.
Cal Everett, President and CEO of Liberty Gold stated, “Our drilling has now confirmed that the Rangefront D-4 discovery is not an isolated occurrence and is part of a much larger oxide gold system that currently extends over one kilometre to the north, merging with shallow mineralization identified in historical drilling. As well, there are indications that D-4 mineralization extends to the east and may merge with the Rangefront resource pits, over an aggregate distance of 800 m. As we continue to aggressively drill this one square kilometre area centred on the D-4 discovery, we foresee the area growing into another large open-pit gold deposit, potentially rivalling the Discovery Zone in size. Importantly, the RFA represents only a portion of a district-scale oxide gold system that covers more than 10 square kilometres.”
For a map and cross sections of the RFA, please click here:
For a full table of results for this release, please click here:
RANGEFRONT FOCUS AREA DRILLING HIGHLIGHTS
As announced September 1, 2021, the D-4 discovery targeted a 1,250 m gap in drilling along the primary northwest-trending dominant mineralization trend at Black Pine. Previously-released drill holes in the D-4 discovery returned 0.91 grams per tonne of gold over 86.9 m and 2.03 g/t Au over 21.3 m in LBP356 and 1.23 g/t Au over 24.4 m and 1.37 g/t Au over 50.3 m in LBP358. This news release includes follow-up drilling from 16 holes targeting areas to the north and east of the Rangefront D-4 discovery. Highlights include:
RANGEFRONT FOCUS AREA DRILLING HIGHLIGHT TABLE1
|Hole ID (Az, Dip) (degrees)||From (m)||To (m)||Intercept
|Au (g/t)||Cut-off Au (g/t)||Hole Length (m)||Target||Comments|
|LBP356 (0, -55)||94.5||100.6||6.1||0.44||0.20||470.9||Rangefront D-4||Previously Released|
|LBP358 (45, -50)||222.5||251.5||29.0||0.22||0.15||434.3||Rangefront D-4||Previously Released|
|LBP362 (120, -60)||39.6||74.7||35.1||0.28||0.15||367.3||Rangefront||Step-Out|
|LBP364 (0, -45)||1.5||24.4||22.9||0.22||0.15||233.2||Rangefront||Step-Out|
|LBP366 (300, -47)||67.1||85.3||18.3||0.34||0.15||274.3||Rangefront||Step-Out|
|LBP399 (75, -50)||102.1||111.3||9.1||0.21||0.15||489.2||Rangefront D-4||Reconnaissance|
|LBP405 (165, -50)||38.1||67.1||29.0||0.30||0.15||318.5||Rangefront||Step-Out|
|LBP408 (110, -90)||234.7||347.5||112.8||0.63||0.15||367.3||Rangefront D-4||Reconnaissance|
|LBP411 (110, -68)||219.5||251.5||32.0||0.30||0.15||440.4||Rangefront D-4||Reconnaissance|
|LBP418 (0, -62)||176.8||196.6||19.8||0.20||0.15||419.1||Rangefront D-4||Reconnaissance|
|LBP420 (0, -50)||38.1||45.7||7.6||0.86||0.20||263.7||Rangefront North||Reconnaissance|
|LBP426 (180, -90)||25.9||61.0||35.1||0.30||0.15||263.7||Rangefront North||Reconnaissance|
|LBP430 (180, -60)||29.0||36.6||7.6||0.34||0.20||300.2||Rangefront North||Reconnaissance|
|LBP432 (145, -58)||41.2||64.0||22.9||0.45||0.15||477.0||Rangefront D-4||Reconnaissance|
|LBP433 (90, -60)||25.9||44.2||18.3||0.23||0.15||269.7||Rangefront North||Reconnaissance|
1Liberty Gold has changed the reporting cut-offs to include a 0.15 g/t Au cut-off, to reflect the lower cut-offs used by most operating oxide heap-leach mines in the Great Basin. The 0.15 g/t Au cut off is not shown in the table if it is identical to the corresponding interval using a 0.2 g/t Au cut-off. Downhole thickness are reported herein; true width varies depending on drill hole dip, but generally range from 60% to 80% of true thickness. Gold grades are reported uncapped.
PEA PROGRESS UPDATE
The Company will complete an updated Mineral Resource model to include approximately 90,000 m of drilling completed from 2021 through the end February 2022 in both the RFA and Discovery Zone. This updated resource model will form the basis for the Black Pine PEA. In addition, the PEA will now include several, recently identified, value-enhancing factors and present a production scenario and economic evaluation that encompasses the expanded development potential of Black Pine. These include:
2021 WORK PROGRAM
Drilling commenced April 1st and is focused on upgrading inferred portions of the resource to indicated, step-out drilling on defined targets and discovery drilling throughout the 12 km2 permitted drill area. The initial resource pit encompasses the Discovery Zone (D-1, D-2 and D-3 high-grade oxide gold zones) as well as smaller pits at the Rangefront, M, CD Pit, F, J, E Pit and Back Range zones. The Black Pine mineral resource estimate released on July 13, 2021 (see below) does not include any drilling conducted in 2021. All zones remain open for extension, with the current drill program focused on:
ABOUT BLACK PINE
Black Pine is located in the northern Great Basin, immediately adjacent to the Utah/Idaho border. It is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s Carlin trend. Like Nevada Gold Mines’ Long Canyon deposit, Black Pine represents 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 Black Pine Mine operated from 1992 to 1997, during a period of historically low gold prices, with 435,000 ounces of gold produced from five composite, shallow pits, with an average head grade of 0.63 g/t Au.
A Mineral Resource estimate containing an indicated mineral resource of 1,715,000 ounces of gold at an average grade of 0.51 g/t Au and totalling 105,075,000 tonnes; and an inferred mineral resource of 370,000 ounces of gold at an average grade of 0.37 g/t Au and totalling 31,211,000 tonnes was released on July 13, with the resource technical report filed on SEDAR on August 19, 2021 and available on the Liberty Gold website.
A virtual site tour and 3D model of Black Pine property, including details about the geology and mineralization, is available on the homepage of the Company’s website: libertygold.ca
QUALITY ASSURANCE – QUALITY CONTROL
Drill composites were calculated using a cut-off of 0.20 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 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 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 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 prep lab listed on the scope of accreditation.
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 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.
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