Liberty Gold announces initial drill results from the Black Pine Oxide Gold Project, Great Basin, USA
Monday, Jan 08, 2018
Liberty Gold Corp. (TSX:LGD) (“Liberty Gold” or the “Company”) is pleased to announce that it has completed an initial round of drilling at the Black Pine Project, one of its three principle gold projects located in the prolific Great Basin of the United States.

Black Pine, located in southeastern Idaho, is a past-producing heap leach oxide gold mine that contains a large, shallow, district-scale, Carlin-style gold system, similar in nature and scale to Liberty Gold’s Goldstrike Project.

In late 2017, twelve reverse circulation (RC) holes were drilled from five locations within a large, 12 square kilometre target area. The drilling has thus far succeeded in validating historical results  adjacent to a historical pit and more importantly, demonstrated exceptional exploration upside beneath the limit of shallow historical drilling.

Drill results highlights from LBP002:

  • 0.58 grams per tonne gold (g/t Au) over 39.6 metres (m), including 1.54 g/t Au over 4.6 m starting near surface
  • 1.10 g/t Au over 15.2 m including 1.55 g/t Au over 7.6 m
  • 1.49 g/t Au over 77.7 m including 5.64 g/t Au over 6.1m and 3.23 g/t Au over 15.2 m.

             
Drill result highlights from LBP003 (testing shallow mineralization):

  • 0.53 g/t Au over 27.4 m and 0.61 g/t Au over 15.2 m.

KEY POINTS

  • LBP002 was drilled next to a historical pit that produced 11,200,000 tonnes of ore averaging 0.6 g/t Au for a total of 198,043 ounces of gold.
  • LBP002 validated a shallow historical hole and extended to depth the oxide gold mineralization to twice the average historical drill hole depth on the property, at twice the average historical mined gold grade.
  • This new intersection expands the potential for additional oxide gold mineralization at depth, confirming the Company thesis that historical drilling left vast areas of mineralization untested.
  • Importantly, this new interval averaged 91.5% cyanide soluble, suggesting amenability to low-cost heap leaching.
Phase 2 drilling is planned to commence mid-June in order to investigate the scope of multiple targets. An updated Plan of Operations is pending that will open up access to the entire 12 square kilometre area of anomalous surface geochemistry and historic gold in drill holes for comprehensive drill testing.
 
HISTORICAL DATA COMPILATION RESULTS

  • There have been 1,866 historical holes drilled, with an average depth of 93 metres.  Most holes were vertical
  • 19% of the historical holes bottomed in oxide gold mineralization
  • 42% of the historical holes have unmined gold intercepts.
The presence of a large number of holes that bottomed in mineralization, as well as a number of areas of mineralization in the historic database that are open to depth, suggests that deeper angle drilling is appropriate in the future.

About Black Pine

The Black Pine property is part of the Great Basin and located in southeastern Idaho, and covers 31.7 square kilometres. The mineralized zone was extensively drilled in the immediate pit areas, with mining carried out by Pegasus Gold Corp. from 7 shallow pits over a 6-year period from 1992 to 1997 in a run of mine heap leach operation. The mining operation produced 435,000 ounces of gold from ore averaging 0.63 g/t Au, with a reported recovery of 65%.

Liberty Gold has data from 1,866 shallow holes, totaling 191,481 metres and has identified three broad target types for drill testing, including: 1) down-dip extensions of gold mineralization from mined pits under shallow cover; 2) unmined bodies of mineralization identified by previous operators; and 3) undrilled, high priority gold-in-soil anomalies.

For more information, please visit: http://libertygold.ca

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