Liberty Gold drills 0.77 g/t gold over 65.5 metres at Black Pine, Idaho

Liberty Gold Corp. [LGD-TSX; LGDTF-OTCQX] reported the latest assay results from the 2023 reverse circulation (RC) drill exploration program at its Black Pine oxide gold project in southeastern Idaho.

Liberty Gold continues to drill with three RC rigs in the main target areas and will be stepping out to outlying target areas in Rangefront South and west M Zone in the coming months. A core rig has been delivered to site and has begun drilling in the Back Range Zone as part of the ongoing Metallurgical and Geotechnical programs.

Drill results reported in this release include follow-up results for drill holes reported in a previous release. These new results include drill holes from the Discovery Zone, Back Range Zone, and the CD-Tallman corridor.

This release presents drill results from a single hole drilled into a target approximately 2 km south of the main Rangefront Zone. This hole was a stratigraphic test for the presence of the receptive host rocks, termed the “Middle Plate” at Black Pine, in an area where the current geologic model indicated this unit could be present, but had never been drilled. The Middle Plate rocks were encountered at approximately 750 feet downhole, shallower than anticipated and, importantly, were found to carry anomalous gold throughout the entire section including two reportable intercepts of oxide gold: 0.37 g/t gold over 9.1 metres and 0.31 g/t gold over 7.6 metres in drill hole LBP931.

The discovery of these gold mineralized Middle Plate rocks, far to the south of any known gold occurrence extends the gold system at Black Pine to a +8-km strike length. This result has heightened the exploration potential of the approximate 5 km² area between the furthest known extent of the Rangefront Zone and this new drill hole. Additional drilling is being planned in the area stepping south from the Rangefront deposit area.

Jason Attew, president and CEO, commented: “This new set of drill results demonstrate a steadily growing resource base as well as significant upside exploration potential with the discovery of gold-bearing Middle Plate rocks in a previously untested area. This discovery extends the known mineralization far to the south and opens a large area for future drill testing in an area significantly greater in size to the current Rangefront Zone.”

Discovery Highwall zone highlights: 0.97 g/t gold over 33.5 metres, including 2.36 g/t gold over 10.7 metres in LBP911; and 0.77 g/t gold over 65.5 metres, including 2.47 g/t gold over 10.7 metres in hole LBP932.

Assays from eight additional drill holes from the main Discovery Zone have been received. Ongoing evaluation of the current resource model and resource grade classes continues to drive the infill drill program in the Discovery Zone with a goal of converting ounces currently classified as inferred into the indicated category. Several areas for potentially adding ounces in the resource model gaps within and along the margins of the resource pits have also been identified.

Additional drilling is underway in the main Discovery Zone with one RC drill rig.

Back Range zone highlights: 1.41 g/t gold over 30.5 metres, including 1.83 g/t gold over 13.7 metres in hole LBP926; 0.49 g/t gold over 30.5 metres and 0.65 g/t gold over 18.3 metres, including 1.60 g/t gold over 4.6 metres in hole LBP928.

Drill results from three additional RC drill holes in the Back Range Zone have been received with results showing good lateral continuity of gold mineralization along the low angle structures that extend to the east, west and north. This oxide gold mineralization is at or near surface and occurs in multiple stacked zones, suggesting potential as early production feed to a future mining operation.

One RC drill rig and the core drill rig are currently operating in the Back Range Zone. Drilling is focused on extending zones of known gold mineralization and infilling gaps in the current resource block model.

CD-Tallman corridor highlights: 0.86 g/t gold over 25.9 metres, including 1.80 g/t gold over 6.1 metres beginning from surface in hole LBP920; and 0.42 g/t gold over 36.6 metres, including 1.61 g/t gold over 3.0 metres in hole LBP902.

Assay results have been received from 19 RC holes drilled in the CD – Tallman Corridor area, including shallow testing of the historic waste rock (dump) material covering the area. The presence of near/at surface, high-grade oxide gold inside these waste dumps, as demonstrated by the results for hole LBP920 above, indicate the potential for early free-dig feed to a future processing facility. Further, a number of holes drilled in the CD-Tallman area confirm the presence of mineralization extending beyond the current resource pit.

The discovery of mineralized Middle Plate rocks significantly south of known mineralization, opens up the exploration potential of lands to the south of the project for future exploration, over an area several times greater in size than that of the current Rangefront Zone.

Current drilling is primarily focused on resource conversion and adding ounces with a goal of defining more than three million ounces in an indicated category in an updated resource.

Results to date have confirmed a high potential for adding new ounces within and peripheral to the current resource pits.

A full update to the resource model grade shells will begin later in the year to support an updated resource model.

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