Liberty Gold Corp. [LGD-TSX] announced additional reverse circulation (RC) drill results from the 2020 drill program at its Carlin-style Black Pine oxide gold property in southern Idaho, United States.
As announced on June 23, a third high-grade oxide gold discovery (D-3 Zone) was identified in close proximity to the D-1 and D-2 Zone discoveries made in 2019. The D-3 Zone lies beneath the limit of shallow historical drilling in a stratigraphic unit that is modelled to underlie at least the southern two-thirds of the Black Pine gold system.
Eight additional holes have extended mineralization over 400 metres in a north-south direction by 250 metres in an east-west direction. D-3 remains open for extension in all directions. Drill hole LBP138 lies at the south end of the zone as currently defined, and returned 1.20 g/t gold over 67.1 metres, including 2.57 g/t gold over 16.8 metres. The hole bottomed in mineralization, with the last 1.54-metre long interval returning 0.84 g/t gold. Refer to company press release for complete assays.
“The new drill results confirm that the D-3 Zone is a significant new discovery,” said Cal Everett, President and CEO. “Given the grade, thickness and dimensions that are beginning to take shape, we believe that D-3 will have a positive material impact on the resource endowment at Black Pine. Each D-3 drill hole to date contains multiple reportable oxide gold intervals above 0.5 g/t gold.”
Drilling is continuing to in fill and step out on the D-3 zone, which will bring more clarity to the overall size and orientation of this discovery. Currently 10 drill holes define D-3. Additional drilling is under way to determine the overall size and extent of the D-3.
In mid-morning trading on July 16, shares of Liberty Gold gained $0.05 to $2.09 on a volume of 383,800 shares traded.