Liberty Gold Corp (LGDTF)

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Liberty Gold Announces Final 2020 Results from Metallurgical Core Drilling at Black Pine, Idaho: 0.77 g/t Au over 10.8 m and 1.23 g/t Au over 24.1 m and 0.75 g/t over 21.5 m in LBP231C

April 26, 2021

Black Pine First Resource Estimate and PEA Initiated

VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce drill results from the five final metallurgical diamond drill holes at its Carlin-style Black Pine oxide gold property (“Black Pine”) in southern Idaho, USA. These holes complete the 2020 core drilling program, composed primarily of large diameter holes to be used for metallurgical column testing. Significant oxide gold intercepts were obtained from the D-2, D-3, and historical CD Pit and E Pit areas. Drilling in the vicinity of the historic pits will significantly expand the scope of metallurgical column testing at Black Pine.Â


“We are happy to have all the results in from our 2020 core drilling program, so that we can proceed with the rest of our Phase 3 metallurgical testing,” commented Cal Everett, President and CEO of Liberty Gold. “The first modern resource estimate at Black Pine is in process and a preliminary economic assessment (“PEA”) has been initiated concurrently, in order to accelerate our development timeline. Our objective is to fast-track Black Pine with key deliverables forthcoming by mid-year.”

KEY POINTS:

- Core holes in the D-2 and D-3 zones complete the metallurgical drilling in the Discovery Focus Area. Forty-three new column tests will be completed, which will inform a Prefeasibility decision in Q3, 2021.
- Core holes in the E Pit and CD Pit areas represent the first core drilling in these areas and will add to the geographical distribution of composites critical to characterizing the overall metallurgical variability of the Black Pine gold system.
- Cyanide-soluble assays for the highlight intervals (as reported in the table above) in LBP231C returned weighted averages of 92% and 72% of fire assay. The highlight intervals in LBP242C returned weighted averages of 88% and 89% of fire assay, both attesting to the thoroughly oxidized nature of gold mineralization.
- Composites from the holes in this press release will be added to those already in the lab undergoing metallurgical column testing at KCA Laboratory, Reno, Nevada.
- Mine Development Associates, a division of RESPEC Company LLC. in Reno, Nevada, has been retained for the resource estimate. SLR Consulting Ltd. (“SLR”) of Toronto, Ontario, will audit the resource.
- SLR is the lead consulting group for the PEA, with contributions from Golder Associates Inc., KCA, Stantec Inc. and other consultants.




Read more & view graphics & data tables at:
https://us13.campaign-archive.com/?e=a03de81cdb&u=b3074967b91ae4ccb283899ea&id=3c03bbaa6c