Liberty Gold Drilling Extends the Discovery Zone in Two Directions, Two Rigs Now Targeting Rangefront D-4 Discovery - Black Pine Oxide Gold Deposit, Idaho
October 7, 2021
VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold†or the “Companyâ€) is pleased to announce additional results from the 2021 Reverse Circulation (“RCâ€) drill program from its Black Pine Oxide Gold deposit in southeastern Idaho (“Black Pineâ€). Additionally, the Company is pleased to announce the receipt of C$11.0 million in cash since June 30, 2021, from the exercise of 18.5 million C$0.60 share purchase warrants which expired on October 2, 2021. Liberty Gold has no remaining share purchase warrants outstanding.
The 70,000 metre (“mâ€) RC drill program at Black Pine in 2021 has several objectives, including: step-out drilling to extend the known zones of mineralization which all remain open for expansion; resource upgrade drilling; and the testing of new target areas with the goal to define new high-grade discoveries such as the recent D-4 discovery at Rangefront. Results from step-out and resource upgrade drilling in the Discovery Zone, E Zone and Tallman North areas are presented in this news release.
Following the D-4 discovery at Rangefront, which includes 0.91 grams per tonne gold (“g/t Auâ€) over 86.9 m and 2.03 g/t Au over 21.3 m in LBP356 (see September 1, 2021 press release), two drill rigs have been mobilized to this area and results from over a dozen holes are pending. The drills are testing between the two Rangefront Deposit pits, near the southern portion of the historical heap leach pad and stepping out from the D-4 high grade oxide gold discovery. Given the large size and the low elevation of the Rangefront D-4 discovery, budgeting is underway for a winter drill program. A third rig continues the resource upgrade and step-out drilling program in the Discovery Zone and a core rig is on-site conducting geotechnical drilling and initiating phase 4 metallurgy testing, including in the D-4 Rangefront area.
