Liberty Gold Announces 20,000 Metre, Phase 1 Drill Program at Black Pine Oxide Gold Project, Idaho Drilling Commenced on Seven New High-Priority Targets
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News Release 24-14 July 17, 2024
Liberty Gold Announces 20,000 Metre, Phase 1 Drill Program at Black Pine
Oxide Gold Project, Idaho
Drilling Commenced on Seven New High-Priority Targets
VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ( “Liberty Gold ” or the
“Company”) is pleased to announce the commencement of a 20,000 metre (“m”) drill program at
its Black Pine Oxide Gold Project (“Black Pine” or the “Project”) in southeast Idaho. This strategic
campaign, focused on seven new high-priority targets, aims to significantly enhance the Project’s
resource base and unlock new areas of oxide gold mineralization within the recently expanded
exploration permit area.
This drilling initiative follows a major permitting milestone for Liberty Gold. A recent amendment
to the existing exploration permit (see press release dated June 11, 2024) from the United States
Forest Service (“USFS”) has expanded the permitted exploration area by 51%, bringing it to a total
of 37.3 square kilometres (“km2”) (the “Expanded Permit Area”). The Expanded Permit Area opens
up access to previously unexplored regions with high potential for the discovery of oxide gold
mineralization.
The amendment to the permit also aligns access criteria across the USFS and adjacent Bureau of
Land Management lands and opens up large areas that previously had timing restrictions for
exploration activity. This greatly facilitates drill access to several lower -elevation areas , in
particular South Rangefront and M Zone, for unrestricted, year-round drilling. With two drills on
site, we anticipate drilling 3,000 m to 3,500 m per month.
“The commencement of this drill program is a pivotal step in our exploration strategy at Black Pine,”
commented Pete Shabestari, Vice President of Exploration at Liberty Gold. “ Our focus on these
high-priority targets is driven by our confidence in the geological potential of these areas. We have been
eagerly awaiting access to these targets and are excited to be once again drilling for new discovery and
resource growth at Black Pine.”
Phase 1 Drill Program
The first reverse circulation (“RC”) drill rig arrived on site at Black Pine in mi d-June and has
commenced the 20,000 m program operating on a double shift ; a second RC rig arrived on site
this week and will further accelerate the exploration activities.
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FIGURE 1 – BLACK PINE PROJECT DRILL TARGET AREAS MAP
Link to Figure 1 - Black Pine project drill target areas map:
https://ml.globenewswire.com/resource/download/ca1670ba-1692-4a8c-b56f-ef8ef730d4e2
Evaluate Seven High-Priority Targets
The Expanded Permit Area includes seven compelling previously untested targets that are now
open to exploration drill-testing. These targets range from first tests of prospective horizons within
the strongest linear mineralization trends on the property , to gold-in-soil anomalies ‘leaking’
through Upper Plate cover rocks, suggestive of strong gold systems hosted within the underlying
Middle Plate rocks – similar targets have recently yielded +1 million ounce oxide gold discovery at
Black Pine (see press release date February 15, 2024). All targets have been selected based on
their structural, geochemical and geological similarities to areas of adjacent gold mineralization.
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Brief target summaries, not in order of priority or prospectivity, are presented below:
1. Section 36: Drilling has commenced on this ~1.1 km2 target area, which is a step-out target
from the Rangefront Zone (+1 million ounce resource). Gravity data indicates a number of
shallow bedrock blocks in this area, any of which could host near-surface oxide gold
mineralization.
2. Rangefront South: Gold-bearing jasperoids and a strong gold-in-soil anomaly within Upper
Plate cover rocks , similar to the Rangefront Zone , present a compelling target area of
~1.1 km2 to test the highly-prospective underlying Middle Plate rocks.
3. MEX: The M Zone Extension target (“MEX”) has only seen, sparse, shallow historic drilling,
which did not test to target depth, similar to the early Discovery Zone target. Drilling will
be focused on extending oxide gold resources to the north of M Zone, where the highest
average grade deposit at Black Pine is open for extension to the north and west.
4. Back Range Connector: This ~0.6 km2 target area, represents a 1 kilometre (“km”) long gap
that is undrilled to prospective target horizons, lying within an overall 6 k m linear trend,
stretching from Back Range to Rangefront, which hosts ~75% of the gold resource at Black
Pine.
5. Burnt Basin: This ~3.1 km2 target area, with a thin cover of Upper Plate rocks , hosts
multiple, strong and widespread gold-in-soil ‘leakage’ anomalies, similar to those observed
within overlying Upper Plate rocks at Rangefront. Field mapping and drill target refinement
is underway in this large, highly-prospective target which has not had any historic drilling.
6. Crescent: This ~3.4 km2 target is anchored by 2023 drilling in the southeastern -most
corner of the property that intercepted oxide gold mineralization within Middle Plate rocks,
suggesting that the widespread mineral system at Black Pine is still open for further
discovery back to the defined resource areas to the north and west . This target area is
further bolstered by gravity data suggesting potential alteration in shallow blocks of Middle
Plate rocks.
7. Black Pine Canyon: This ~0.5 km2 target covers the southwestern extension of the E Zone,
which hosts the highest-grade mineralization at Black Pine. Gold-bearing structures ‘roll-
over’ at E Zone and switch from dipping predominantly to the northeast throughout the
majority of the deposit, to dipping southwest into Black Pine Canyon, where a strong gold-
in-soil anomaly overlies where these structures should outcrop.
Enhanced Geological Understanding
The drill program will contribute to a wider -scale geological understanding of the lithologic and
structural controls at Black Pine. Detailed analysis of drilling will help refine the geological model,
providing valuable insights into the distribution and characteristics of oxide gold mineralization in
the Project area.
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 ("NI 43 -101") and has revie wed and validated that
the information contained in the release is accurate.
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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
All statements in this press release, other than statements of historical fact, are “ forward-looking information” with respect to
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