Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce that follow-up reverse circulation (“RC”) 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 (“Black Pine”).VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce that follow-up reverse circulation (“RC”) 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 (“Black Pine”).
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 (“m”) 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 (“ROM”) processing optimizations, has led the Company to expand the scope of the Preliminary Economic Assessment (“PEA”) 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 HIGHLIGHTSRANGEFRONT FOCUS AREA DRILLING HIGHLIGHTSAs 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 (“g/t Au”) 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:
- Drilling from two pads located 250 m to the north of the original D-4 discovery has returned significant gold mineralization, with additional holes pending. Results include:
- 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
- All 21 drill holes released to-date in 2021 in the RFA have intercepted multiple zones of oxide gold mineralization.
- Results from drilling on a single drill pad located 300 m north of the D-4 discovery, as well as historic drilling in the Rangefront North resource pit area, extend mineralization over a distance of 1 km south to north, with mineralization shallowing in a northerly direction.
- Drilling in the area between the two resource pits that comprise the original Rangefront portion of the resource estimate was carried out to assess whether the resource could be expanded to encompass both pits in a single pit or could be extended further. Results include:
- LBP362: 0.75 g/t Au over 22.9 m
- Gold mineralization extends between the two existing Rangefront resource pits.
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:
- The expected magnitude of the eventual gold system in the RFA could have a major impact on the sizing of the future mining and processing operation at Black Pine.
- Phase 3 metallurgical column test results (released on October 27, 2021), in aggregate with the previous metallurgical test work, suggest that the deposit is amenable to a single processing route of ROM heap leaching.
- Engineering work conducted during the PEA study process suggests that the optimal economic cut-off grade for a future ROM heap leach operation would likely be lower than the 0.2 g/t Au cut-off grade reported in the recent resource estimate, requiring a revised resource estimate.
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:
- Continuing to drill the RFA for inclusion in an updated resource estimate.
- Expanding the Discovery Zone resource to the southwest, west, southeast, and east.
- Linking the E Pit to the F Zone and CD Pit and assessing whether this portion of the gold system can be extended to the northeast to link with the Discovery Zone.
- Converting inferred ounces to indicated.
- Testing the shallow, high-grade Back Range Zone for the first time.
- Testing other frontier areas where surface geology and geochemistry suggest the presence of shallow zones of oxide gold.
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.