Liberty Gold drills 0.98 g/t gold 85.3 metres at Black Pine, Idaho

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Liberty Gold Corp. [LGD-TSX; LGDTF-OTC] reported the final tranche of reverse circulation (RC) drill results from the 2021 program in the Rangefront focus area (RFA) at the 100%-owned Black Pine oxide gold deposit in southern Idaho. RFA drilling resumed in January, 2022, with three RC and one core rig and an additional 9,600 metres in 34 holes have now been drilled to date with assays pending.

Drill hole LBP514 returned 0.98 g/t gold over 85.3 metres, including 1.56 g/t gold over 27.4 metres. Hole LBP506 returned 0.63 g/t gold over 94.5 metres including 3.66 g/t gold over 6.1 metres. Hole LBP502 returned 0.71 g/t gold over 64.0 metres.

In 2021, Liberty Gold drilled a total of 28,048 metrres in 74 holes into a 1 km2 area within the RFA, and mineralization remains open for lateral extension to the north, northwest and east. Drilling in Q4 2021 focused on continued definition of the high-grade core of the mineralized zone; stepout drilling along the edges of the zone; and resource definition in the rest of the RFA. In all areas, two dominant horizons among multiple stacked zones of oxide gold mineralization were encountered in brecciated calcareous siltstone and sandstone from close to surface to depths of over 400 metres.

The high-grade core zone has been extended an additional 100 metres to the northwest and 250 metres east and now measures approximately 300 by 750 metres and remains open to the northwest. Drilling in the area between high-grade core zone and the original Rangefront resource pits encountered strong results, extending the high-grade core zone to the east, and providing an important link between these two mineralized areas.

Moira Smith, vice-president of exploration and geoscience for Liberty Gold, stated: “As we continue to define the RFA, the high-grade core is growing in size while we continue to fill in the gaps, with more certainty around the continuity of mineralization throughout the larger one square km area. The RFA now rivals the Discovery zone in size. Later in 2022, we are looking forward to testing the northeastern and eastern extent of the RFA where shallow historical drilling shows the presence of gold mineralization. We also plan to test the undrilled area to the south of the RFA with the goal of finding the extension of the structure hosting the D-3, F and CD zones. Based on all of the drilling, resource estimation and 3D modelling to date, we continue to believe that the data support a geological potential of three to five million ounces of gold on the Black Pine property.”

The 2022 exploration program at Black Pine commenced at the beginning of January, with three RC and one core rig active. Drilling through to the end of February will focus on the lower elevation RFA to provide data for resource estimation and metallurgical testing. The current RFA drill campaign will end in late February, and the drill hole database and geological model will be updated for the upcoming mineral resource estimate. The drills will then move off in the interim to continue both infill and stepout drilling at other prospective areas on the Black Pine deposit.

Liberty Gold plans to advance Black Pine in 2022 with drilling, initial engineering and permitting programs, and further de-risking activities, with the goal to provide an updated resource estimate and preliminary economic assessment in Q3 2022.


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