Liberty Gold Announces Commencement of 2020 Drill Program - Black Pine Oxide Gold Project, Idaho, USA Increased 2020 Exploration Program to Advance Resource Definition and District Scale Drill Testing of Nine Priority Regional Targets
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NEWS RELEASE 20-07 April 1, 2020
Liberty Gold Announces Commencement of 2020 Drill Program - Black Pine
Oxide Gold Project, Idaho, USA
Increased 2020 Exploration Program to Advance Resource Definition and District Scale Drill
Testing of Nine Priority Regional Targets
VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company ”) is pleased
to announce the start of the 2020 exploration season at its Carlin-style Black Pine oxide gold property
in southern Idaho, USA.
On March 25, 2020 , pursuant to the COVID -19 containment process , Idaho Governor Brad Little
issued a statewide stay -at-home directive that exclud es certain essential services , with m ining
having been designated as an “Essential Infrastructure Service”. As such, Liberty Gold commenced
drilling on the Black Pine gold project on March 31, 2020.
“The Company’s intent is to safely advance the Black Pine Project with full recognition of the COVID-
19 pandemic and, if necessary, we will alter our exploration s trategy as warranted or directed ,”
commented Cal Everett, President and CEO. “As a Company, we recognize the effect on individuals,
local communities, states, countries and financial markets as a result of the coronavirus pandemic
as announced by the World Health Organization on March 11, 2020, and we have established strict
internal and external protocols for our employees, contractors and associates at Black Pine.”
Liberty Gold adopted a work from home and no -fly policy for its office employees in early March.
Our USA-based geological team live within driving distance of the Black Pine Project . Canada-
based geologists will remain in -country and will focus o n data interpretation, digital modelling, and
drill hole targetin g. S ocial distancing policies have been established for the Black Pine Project,
inclusive of a one person per vehicle policy, daily personal t emperature checks, and on-site
separation mandate between and amongst employees and contractors. The Black Pine Project is
located 100 kilometers from the closest community with medical facilities.
In 2019, drilling at Black Pine was focused in a one square kilometer (“km2”) area of a shallow oxide
gold system estimated to cover over 12 km2. Drilling resulted in two discoveries of high-grade oxide
gold mineralization beneath the limit of shallow historical drilling . The Discovery 1 zone measures
approximately 1 kilometer (“km”) by 150 metres (“m”), trending in northwest (“NW”) direction. The
Discovery 2 zone measures approximately 600 m by 400 m, trending in a northeast (“NE”) direction.
Both zones remain open for extension in several directions.
For a complete table of drill results from all Liberty Gold drill holes, including 2019 drill results, at
Black Pine, please click
here: https://libertygold.ca/images/news/2020/april/BP_NR04012020Intercepts.pdf
The 2020 drill program is fully funded, with the ability to further expand the exploration program
subject to results.
Liberty Gold’s intent is to significantly increase the amount of drilling to well over the 21,000 metres
drilled last year, and greatly expand the target area to be tested.
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For a map of gold distribution, 2020 drill targets, Phase 1 drill sites and permit amendment areas,
please click here: https://libertygold.ca/images/news/2020/april/BlackPineNR04012020Map.pdf
Key Points
• The 2020 Black Pine drill program is split between continued drilling of the high
grade oxide gold discoveries from 2019 and a regional test of the surrounding
district, selected by compilation of historical drill results, surface and pit wall
mapping and soil geochemistry. The initial target area covers approximately 12 km2.
• Nine regional drill targets have been selected based on 3D modeling of potential NW
and NE trending feeder fault corridors.
• Two drills are on site. Drill operations are on a single shift basis. If there is a delay of
the exploration program, the drills can be double-shifted when drilling resumes in
order to complete the 2020 drill program.
• Metallurgical column testing on six bulk samples with head assays ranging from 0.23
to 4.06 grams per tonne gold (“g/t Au”) and 29 composites from large diameter core
is ongoing, with results expected in Q3.
• An amendment to the Plan of Operations has been submitted to the US Forest
Service to increase the size of the permitted project area from 7.3 to 11.9 km2,
including a large area between the main permit area and the Rangefront target to the
southeast, where drilling in late 2019 encountered 55.3 m grading 0.49 g/t
Au. Additional Phase 2 drilling in this area will be carried out when the permit is
approved.
• Discussions are underway with the US Bureau of Land Management regarding
access to land located to the east of the project area for infrastructure and historic
mine well access.
• Additional project de-risking activities are underway, including preliminary
engineering and baseline studies.
• A strategy for obtaining access to process water is being developed.
About Black Pine
Black Pine is located in the northern Great Basin, immediately adjacent to the Utah/Idaho border. It
is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s
Carlin trend. Like Newmont’s Long Canyon deposit, Black Pine represents a grow ing number of
Carlin-style gold systems located off the main Carlin and Cortez trends in underexplored parts of the
Great Basin. The historic Black Pine Mine operated from 1992 to 1997, during a period of historically
low gold prices, with 435,000 ounces of gold produced from five composite, shallow pits.
A virtual site tour and 3D model of Black Pine property, including details about the geology and
mineralization, is available on the homepage of the Company’s website, www.libertygold.ca.
A Technical Report is also available on the Company website:
https://libertygold.ca/images/pdf/BlackPine_NI43-101_2018.pdf
Moira Smith, Ph.D., P.Geo., Vice-President Exploration and Geoscience, 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 reviewed and validated
that the information contained in the release is accurate. Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported
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as drilled thicknesses. True widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole
orientations, but are typically in the range of 60 to 80% of true width. Drill samples were assayed by ALS Limited in Reno, Nevada for gold by Fire
Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over 5.0 g/t were re-assayed and completed with a gravimetric finish. For these
samples, the gravimetric data were utilized in calculating gold intersections. For any samples assaying over 0.200 ppm an additional cyanide leach
analysis is done where the sample is treated with a 0.25% NaCN solution and rolled for an hour. An aliquot of the final leach solution is then
centrifuged and analyzed by Atomic Absorption Spectroscopy. QA/QC for all drill samples consists of the insertion and continual monitoring of
numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch. Selected
holes are also analyzed for a 51 multi-element geochemical suite by ICP-MS. ALS Geochemistry-Reno is ISO 17025:2005 Accredited, with the Elko
prep lab listed on the scope of accreditation.
ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring 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. Our flagship projects are Black Pine in Idaho and Goldstrike in Utah, both past
producing open-pit mines, where previous operators only scratched the surface.
For more information, visit www.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 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 , the 2020 drill program being fully funded and the Company’s ability to
further expand the exploration program, the Company’s ability to increase the amount of drilling and the target area to be tested, and the results of
testing and timing thereof. 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", "wo uld", "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,
the impact from the pandemic of the novel coronavirus (COVID -19), availability of equipment, accuracy of any mineral resources, the availability of
drill rigs, the accuracy of a preliminary economic assessment, 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 a s plans continue to be
refined; current economic conditions; future price s 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, including impacts from the pandemic of the novel coronavirus (COVID-19); 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 2 6, 2020 in the section
entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.
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 diffe r 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 re sults 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.