Liberty Gold Announces Final Drill Results from Mineral Mountain at Goldstrike, Utah PGS275: 2.03 g/t Au over 6.1 m and 0.74 g/t Au over 13.7 m PGS286: 1.01 g/t Au over 12.2 m and 0.75 g/t Au over 9.1 m
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NEWS RELEASE 17-17 August 21, 2017
Liberty Gold Announces Final Drill Results from Mineral Mountain at Goldstrike, Utah
PGS275: 2.03 g/t Au over 6.1 m and 0.74 g/t Au over 13.7 m
PGS286: 1.01 g/t Au over 12.2 m and 0.75 g/t Au over 9.1 m
VANCOUVER, B.C. – Liberty Gold Inc. (LGD - TSX) ("Liberty Gold" or the "Company") is pleased to announce
results from the final three holes at the Mineral Mountain Target, at the 100% controlled Goldstrike Oxide Gold
Project in southwestern Utah. Mineral Mountain is located in the northwest corner of the project area,
approximately 6 km from the Main Zone.
Results from the final 3 holes at Mineral Mountain:
- 2.03 grams per tonne gold (g/t Au) over 6.1 metres (m) and 0.74 g/t Au over 13.7 m in PGS275
- 0.94 g/t Au over 15.2 m and 0.83 g/t Au over 6.1 m in PGS282
- 1.01 g/t Au over 12.2 m and 0.75 g/t Au over 9.1 m and 0.31 g/t Au over 9.1 m in PGS286
Highlights from previously released holes at Mineral Mountain:
- 1.02 g/t Au over 13.7 m and 0.74 g/t Au over 10.7 m in PGS253
- 1.16 g/t Au over 25.9 m including 3.48 g/t Au over 4.6 m in PGS255
- 0.58 g/t Au over 6.1 m and 0.51 g/t Au over 7.6 m in PGS264
- 0.79 g/t Au over 29.0 m including 1.97 g/t Au over 4.6 m in PGS265
- 0.39 g/t Au over 19.8 m and 0.53 g/t over 6.1 m in PGS268
- 0.53 g/t Au over 10.7 m in PGS273
- 1.78 g/t Au over 67.1 m including 3.14 g/t Au over 32.0 m in PGS277
Key Points:
- Drilling at Mineral Mountain successfully demonstrated the potential for near -surface gold mineralization
over a strike length of over 1 km.
- 12 of the 13 holes at Mineral Mountain returned gold intercepts of greater than 0.40 g/t Au.
- The interpretative model at Mineral Mountain is similar to the rest of the Goldstrike project area.
- The Mineral Mountain target is located 1.5 km south of a granitoid intrusion, with a 2 km 2 gold-in-soil
anomaly that may be skarn related.
- Additional surface work, including Induced Polarization (IP) geophysical surveys, are needed in the area
adjacent to the Mineral Mountain granite stock to understand the rela tionship between the granite and
gold mineralization.
- The Mineral Mountain intrusion, or buried intrusions related to it, may be drivers of gold mineralization on
a region-wide scale, as a source of heat and hydrothermal fluids.
- Additional drilling is planned following the completion of surface work.
For a complete table of drill results from the current holes, please click here:
http://libertygold.ca/images/sites/default/files/GS_Intercepts08172017.pdf
For a complete table of results for all drilling by Liberty Gold at Goldstrike from 2015 to August 2017, please
click here: http://libertygold.ca/images/sites/default/files/GS_Intercepts2015to08172017.pdf
For a map showing the proposed IP lines and the drill collars and traces for th e current release, please click
here: http://libertygold.ca/images/sites/default/files/GoldStrike_NR1717.png
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Goldstrike is located in the eastern Great Basin, immediately adjacent to the Utah/Nevada border, and is a
Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s Carlin trend. Like
Kinsley Mountain and Newmont’s Long Canyon deposit, Goldstrike represents part of a growing number of
Carlin-style gold systems located off the main Carlin and Cortez trends in underexplored parts of the Great
Basin. The historic Goldstrike Mine operated from 1988 to 1994, with 209,000 ounces of gold produced from 12
shallow pits, at an average grade of 1.2 g/t Au.
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 relea se is accurate.
Drill composites were calculated using a cut -off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True
widths of the mineralized intervals vary between 30 and 100% of the reported lengths due to varying drill hole orien tations,
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 r olled for an hour. An aliquot of the final leach solution is then centrifuged and analyzed by AAS.
Metallic screen techniques may be employed where the presence of coarse free gold is suspected. Approximately 1000
grams of coarse reject material are pulve rized and screened. Two splits of the fine fraction are assayed, as well as all
material that does not pass through the screen (the coarse fraction). The final gold assay reported is a weighted average of
the coarse and fine fractions. 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.
Goldstrike is an early -stage exploration project and does not contain any mineral resource estimates as defined by NI 43-
101. The potential quantities and grades disclosed herein are conceptual in nature and there has been insufficient
exploration to define a mineral resource for the targets disclosed herein. It is uncertain if further exploration will result in
these targets being delineated as a mineral resource. Further information on Goldstrike is available in the technical report
entitled "Technical Report on the Goldstrike Project, Washington County, Utah, U.S.A.", effective April 1, 2016 and dated
October 7, 2016, prepared by Michael M. Gustin, C.P.G. and Moira Smith, Ph.D., P.Geo. found at the top of this page or
under Liberty Gold's issuer profile in SEDAR (www.sedar.com).
ABOUT LIBERTY GOLD
Liberty Gold is led by a proven technical and capital markets team that continues to discover and define high -
quality assets. Our flagship property is the Goldstrike Oxide Gold Project in Utah. Liberty also has a pipeline of
projects, including Black Pine in Idaho and Kinsley Mountain in Nevada, providing a solid platform for future
growth. Over the past 5 years, there have been 8 new open -pit, heap leach gold mines built around the world
and the management team and/or directors of Liberty Gold are respon sible for discovering, developing and/or
building two of them. Long Canyon in Nevada (Fronteer Gold) and Karma in Burkina Faso (True Gold) both
reached commercial production in 2016.
For more information, visit www.libertygold.ca or contact:
Evelyn Cox, Director Corporate Communications
Phone: 604-632-4677 or Toll Free 1-877-632-4677
All statements in this press release, other than statements of h istorical 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, potenti al size and expansion of a
mineralized zone, proposed timing of exploration and development plans. 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", "cou ld",
"would", "might" or "will" be taken, occur or be achieved. Forward -looking information is not a guarantee of future performanc e and is based upon a
number of estimates and assumptions of management at the date the statements are made including, among others, assumptions ab out future prices of
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gold, and other metal prices, currency exchange rates and interest rates, favourable ope rating conditions, political stability, obtaining governmental
approvals and financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability
in market conditions, availability of equipment, accuracy of any mineral resources, timing and likelihood of deployment of additional drill rigs, successful
delivery of results of IP, the release of an initial resource report, successful resolution of disputes and anticipated costs and exp enditures. 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 re lated 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; t he 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 Ann ual Information Form of the
Company dated March 28, 2017 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR profile at www.sedar.com.
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 anti cipated, 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 f rom 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.