Liberty Gold Announces Initial Assay Results from Rangefront Step-out Exploration Drilling at Black Pine Oxide Gold Project, Idaho
Liberty Gold Corp (TSX:LGD; OTCQX:LGDTF) has announced initial assay results from its 2024 RC exploration drilling program at the Black Pine Oxide Gold Project in Idaho. Key drilling results include 1.44 g/t Au over 30.5m (including 3.25 g/t Au over 9.1m) and 0.61 g/t Au over 77.7m (including 2.15 g/t Au over 4.6m).
The drilling has significantly expanded the Rangefront deposit's mineralized zone footprint to the east, west, and north, discovering a new shallow zone of oxide mineralization representing the highest grade thickness in upper plate rocks at Rangefront to date. Results from the first 11 drill holes confirm that the oxide mineralization remains open to the west, extending over approximately 250 meters north-south and 130m east-west.
Liberty Gold Corp (TSX:LGD; OTCQX:LGDTF) ha annunciato i risultati iniziali degli assay dal suo programma di perforazione esplorativa RC del 2024 presso il Black Pine Oxide Gold Project in Idaho. I risultati chiave delle perforazioni includono 1,44 g/t Au su 30,5m (inclusi 3,25 g/t Au su 9,1m) e 0,61 g/t Au su 77,7m (inclusi 2,15 g/t Au su 4,6m).
Le perforazioni hanno significativamente ampliato l'impronta della zona mineralizzata del deposito Rangefront verso est, ovest e nord, scoprendo una nuova zona superficiale di mineralizzazione ossidica che rappresenta lo spessore di grado più elevato nelle rocce della placca superiore a Rangefront fino ad oggi. I risultati dei primi 11 fori di perforazione confermano che la mineralizzazione ossidica rimane aperta verso ovest, estendendosi per circa 250 metri in direzione nord-sud e 130m in direzione est-ovest.
Liberty Gold Corp (TSX:LGD; OTCQX:LGDTF) ha anunciado los resultados iniciales de ensayo de su programa de perforación exploratoria RC 2024 en el Proyecto de Oro Oxidado Black Pine en Idaho. Los resultados clave de perforación incluyen 1,44 g/t Au sobre 30,5 m (incluyendo 3,25 g/t Au sobre 9,1 m) y 0,61 g/t Au sobre 77,7 m (incluyendo 2,15 g/t Au sobre 4,6 m).
La perforación ha ampliado significativamente la huella de la zona mineralizada del depósito Rangefront hacia el este, oeste y norte, descubriendo una nueva zona superficial de mineralización oxidada que representa el grosor de mayor grado en las rocas de la placa superior en Rangefront hasta la fecha. Los resultados de los primeros 11 agujeros de perforación confirman que la mineralización oxidada sigue abierta hacia el oeste, extendiéndose aproximadamente 250 metros de norte a sur y 130 m de este a oeste.
리버티골드코퍼레이션 (TSX:LGD; OTCQX:LGDTF)은 아이디어에 위치한 블랙파인옥사이드 골드 프로젝트에서 2024년 RC 탐사 드릴링 프로그램의 초기 분석 결과를 발표했습니다. 주요 드릴링 결과는 30.5m 구간에서 1.44 g/t Au (9.1m 구간에서 3.25 g/t Au 포함), 77.7m 구간에서 0.61 g/t Au (4.6m 구간에서 2.15 g/t Au 포함)입니다.
이번 드릴링은 레인지프론트 매장지의 광물화된 지역을 동쪽, 서쪽, 북쪽으로 크게 확장시키며, 지금까지 레인지프론트에서 상부 암석에서 가장 높은 등급의 두께를 나타내는 새로운 얕은 산화광물화 지역을 발견했습니다. 처음 11개의 드릴 홀의 결과는 산화광물화가 서쪽으로 열려 있으며, 북남으로 약 250미터, 동서로 130미터를 확장하고 있음을 확인합니다.
Liberty Gold Corp (TSX:LGD; OTCQX:LGDTF) a annoncé les premiers résultats des analyses de son programme de forage exploratoire RC 2024 au Projet d'Or Oxyde Black Pine dans l'Idaho. Les résultats clés du forage comprennent 1,44 g/t Au sur 30,5 m (dont 3,25 g/t Au sur 9,1 m) et 0,61 g/t Au sur 77,7 m (dont 2,15 g/t Au sur 4,6 m).
Les forages ont considérablement élargi l'emprise de la zone minéralisée du dépôt Rangefront vers l'est, l'ouest et le nord, découvrant une nouvelle zone superficielle de minéralisation oxydée représentant l'épaisseur de grade la plus élevée dans les roches de la plaque supérieure à Rangefront à ce jour. Les résultats des 11 premiers trous de forage confirment que la minéralisation oxydée reste ouverte vers l'ouest, s'étendant sur environ 250 mètres du nord au sud et 130 m d'est en ouest.
Liberty Gold Corp (TSX:LGD; OTCQX:LGDTF) hat die ersten Analyseergebnisse seines Erkundungsbohrprogramms 2024 im Black Pine Oxide Gold Project in Idaho bekannt gegeben. Wichtige Bohrergebnisse umfassen 1,44 g/t Au über 30,5m (einschließlich 3,25 g/t Au über 9,1m) und 0,61 g/t Au über 77,7m (einschließlich 2,15 g/t Au über 4,6m).
Die Bohrungen haben die Mineralisierungszone des Rangefront-Lagers erheblich nach Osten, Westen und Norden erweitert und eine neue flache Zone der oxidischen Mineralisation entdeckt, die bisher die höchste Gradierung in den oberirdischen Gesteinen bei Rangefront darstellt. Die Ergebnisse der ersten 11 Bohrlöcher bestätigen, dass die oxidische Mineralisation nach Westen offen bleibt und sich über etwa 250 Meter in nord-südlicher Richtung und 130m in ost-westlicher Richtung erstreckt.
- Discovery of new high-grade oxide mineralization zone at Rangefront
- Significant expansion of mineralized zone footprint in multiple directions
- Strong gold grades with good cyanide solubility in western Rangefront
- Potential positive impact on Mine Plan from new near-surface mineralization
- Extension of mineralization up to 100m northeast of current block model
- Fifteen holes south of Rangefront showed no reportable intercepts
- Thicker than expected upper plate cover sandstone sequence in southern area
1.44 g/t Au over 30.5 m including 3.25 g/t Au over 9.1 m
0.61 g/t Au over 77.7 m including 2.15 g/t Au over 4.6 m
VANCOUVER, British Columbia, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to report initial assay results from the 2024 reverse circulation (“RC”) exploration drill program at its Black Pine Oxide Gold Project (“Black Pine”) in southeastern Idaho. These results are from step-out drilling around the Rangefront deposit area, one of seven key targets defined in the expanded exploration permit area at Black Pine (see press release dated June 11, 2024). This first phase of feasibility drilling at Rangefront is targeting zones of open oxide gold mineralization in all directions from the main deposit area, as well as upgrading zones of inferred resources to the indicated category.
KEY POINTS
- Results from drilling have significantly expanded the footprint of the mineralized zone at Rangefront to the east, west and north.
- Drilling has also discovered a new shallow zone of oxide mineralization, this zone represents the highest grade thickness drilled in upper plate rocks at Rangefront to date. See Figure 1 below.
- Mineralization at Rangefront remains open and will be targeted in additional drilling starting in 2025.
FIGURE 1: RANGEFRONT ZONE CROSS SECTION
RANGEFRONT
Assays from the first 11 drill holes received from the western margin of Rangefront confirm that the known zone of oxide mineralization remains open to the west, with strong gold grades and good cyanide solubility similar to that seen throughout the Rangefront zone. These results have extended the western Rangefront mineralization over an area of approximately 250 meters (“m”) north-south and 130 m east-west. Importantly, 2024 drilling has defined a new, near-surface zone of higher-grade oxide gold mineralization in what was previously classified in the Black Pine Preliminary Feasibility Study1 (“PFS”) as non-mineralized material and treated as waste rock in the PFS mine plan (“Mine Plan”). This zone is open to the west and east extending back into the reserve pit area. It is anticipated that a conversion of this area into the mineral resource would have a positive impact on the Mine Plan. The 2024 drilling has now concluded, and results are pending from an additional twelve drill holes in Rangefront as well as 18 drill holes from lower Burnt Basin, CD Pit, A Pit and M Zone.
RANGEFRONT HIGHLIGHT TABLE*
Hole ID (Az, Dip) (degrees) | From (m) | To (m) | Intercept (m) | Au (g/t) | Au Cut-Off |
LBP1025 (265, -58) | 202.7 | 280.4 | 77.7 | 0.61 | 0.15 |
incl | 236.2 | 240.8 | 4.6 | 2.15 | 1.00 |
LBP1029 (285, -48) | 254.5 | 285.0 | 30.5 | 1.44 | 0.15 |
incl | 271.3 | 280.4 | 9.1 | 3.25 | 1.00 |
LBP1039 (120, -70) | 62.5 | 74.7 | 12.2 | 0.29 | 0.15 |
and | 79.2 | 94.5 | 15.2 | 0.42 | |
and | 210.3 | 230.1 | 19.8 | 0.33 | |
LBP1058 (0,-90) | 59.4 | 88.4 | 29.0 | 0.53 | 0.2 |
and | 217.9 | 242.3 | 24.4 | 0.43 | |
and | 249.9 | 263.7 | 13.7 | 0.23 | |
and | 277.4 | 281.9 | 4.6 | 0.23 | |
LBP1059 (325,-70) | 59.4 | 80.8 | 21.3 | 0.70 | 0.15 |
and | 99.1 | 100.6 | 1.5 | 0.79 | |
and | 202.7 | 207.3 | 4.6 | 0.41 |
*Results are reported as drilled thicknesses, with true thicknesses approximately
Drilling along the east flank of Rangefront was successful in extending mineralization both towards the east and northeast. In the eastern areas oxide gold mineralization is near surface with a thin cover of alluvium. Additional drilling along the eastern margin of the Rangefront resource area has extended oxide gold mineralization up to 50 m from modeled mineralized zones and also remains open to the east. A single drill hole targeting the northern extent of Rangefront mineralization was successful in identifying additional oxide gold mineralization up to 100 m northeast of the current block model.
Fifteen holes drilled south of Rangefront intersected scattered anomalous gold and pathfinder elements, with no reportable intercepts. The upper plate cover sandstone sequence appears thicker than expected in this area and receptive host rocks would be present at depth. Additional work targeting uplifted blocks of middle plate has commenced and drilling in 2025 is warranted in the large, untested areas further south.
DRILL RESULTS MAP
For a table showing complete drill results for the current release, see this link: https://libertygold.ca/images/news/2024/December/BP_Intercepts12042024.pdf
These positive drill results support Liberty Gold’s strategy to optimize the Black Pine project, potentially expanding the current +1 million ounce gold resource base at Rangefront1, which would add to the 4.1 million ounce gold indicated resource1 at Black Pine.
A second phase, follow-up drill program across the Black Pine project is anticipated in early 2025 to bring in additional mineralization to the feasibility resource estimate, expected in the second half of 2025, ahead of the commencement of feasibility engineering studies. The results align well with the Company’s recently released PFS which outlined the strong economics of the Black Pine project, with significant upside potential.
Pete Shabestari, VP of Exploration at Liberty Gold, commented: "The results from our 2024 drill holes in Rangefront are highly encouraging as they show we are still not done at Rangefront, and the deposit shows potential to grow. With the drill program continuing to yield positive results, we are optimistic about the resource expansion opportunities as we move toward a full feasibility resource model in 2025."
The Company is also proceeding with the preparations for submission of the Mine Plan of Operations at Black Pine and anticipates filing with Federal and State Agencies by the end of the year.
QUALIFIED PERSON
Peter Shabestari, P.Geo., Vice-President Exploration, Liberty Gold, is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and validated that the information contained in the release is accurate.
ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring for and developing open pit oxide deposits in the Great Basin of the United States, home to large-scale gold projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing regions in the world and stretches across Nevada and into Idaho and Utah. We know the Great Basin and are driven to discover and advance big gold deposits that can be mined profitably in open-pit scenarios.
For more information, visit libertygold.ca or contact:
Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
info@libertygold.ca
QUALITY ASSURANCE – QUALITY CONTROL
Drill composites were calculated using a cut-off of 0.15 g/t Au. Drill intersections are reported as drilled thicknesses. True widths of the mineralized intervals vary between
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, expected capital costs at Black Pine, expected gold and silver recoveries from the Black Pine mineralized material, potential additions to the resource through additional drill testing, potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for silver resources at Black Pine and intentions to pursue a silver resource study and beliefs regarding gold resources being contained within a larger property area. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources and mineral reserves, the availability of drill rigs, the accuracy of the PFS, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.
Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR+ profile at www.sedarplus.ca .
The Mineral Resource estimates referenced in this press release use the terms "Indicated Mineral Resources" and "Inferred Mineral Resources." While these terms are defined in and required by Canadian regulations (under NI 43-101), these terms are not recognized by the U.S. Securities and Exchange Commission ("SEC"). "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. The SEC normally only permits issuers to report mineralization that does not constitute SEC Industry Guide 7 compliant "reserves" as in-place tonnage and grade without reference to unit measures. U.S. investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves. Liberty Gold is not an SEC registered company.
Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
1 See technical report “Black Pine Project NI 43-101 Technical Report, Oneida County, Idaho, USA”, effective June 1, 2024, and dated November 21, 2024, prepared by Valerie Wilson, P.Geo. SLR Consulting Ltd.; Todd Carstensen, RM-SME AGP Mining Consultants Inc.; Gary Simmons, MMSA GL Simmons Consulting, LLC; Nicholas T. Rocco, Ph.D., P.E. NewFields Companies LLC; Benjamin Bermudez, P.E. M3 Engineering & Technology Corp.; Matthew Sletten, P.E. M3 Engineering & Technology Corp.; John Rupp, P.E. Piteau Associates Ltd. ; Daniel Yang, P.Eng., P.E. Knight Piésold Ltd.; Richard DeLong, M.Sc. Westland Engineering & Environmental Services Inc. on the Company’s profile on SEDAR+ at www.sedarplus.ca and press release dated October 10, 2024.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/26d37dae-73cf-4e37-98c6-d6473aa7ce4a
https://www.globenewswire.com/NewsRoom/AttachmentNg/7655834d-2619-4713-b448-db833477e3b9
FAQ
What are the key drilling results from Liberty Gold's (LGDTF) Black Pine project in December 2024?
How much has the Rangefront mineralization zone expanded in Liberty Gold's (LGDTF) 2024 drilling program?