Liberty Gold Announces Results of Metallurgical Core Drilling at its Black Pine Oxide Gold Project, Idaho 4.80 g /t Au over 21. 2 m including 11.0 g/t Au over 7.5 m in LBP508C
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News Release 22-16 August 2, 2022
Liberty Gold Announces Results of Metallurgical Core Drilling at its
Black Pine Oxide Gold Project, Idaho
4.80 g /t Au over 21. 2 m including 11.0 g/t Au over 7.5 m in LBP508C
VANCOUVER, B.C. – Liberty Gold Corp. ( TSX:LGD; OTCQX: LGDTF) (“Liberty Gold” or the
“Company”) is pleased to report results from 14 large-diameter (“PQ”) core holes at its Black Pine
Oxide Gold Project in southeastern Idaho; one core hole, LBP511CA, with an exceptional intercept
of 100.4 metres (“m”) grading 1.38 grams per tonne gold (“g/t Au”) was released previously. PQ
holes were drilled throughout the target areas of Discovery , E, M, J, F, CD and Rangefront zones
with core samples and technical information from these holes being used for further metallurgical
testing, geotechnical studies, and geological modeling.
Reverse Circulation (“RC”) drilling is being carried out across these target areas in 2022 to facilitate
discovery of near-surface mineralization and consolidation of zones into larger, continuous deposit
areas. Liberty Gold is also pleased to report results from a series of RC holes testing historic waste
rock storage and pit backfill areas, with gold mineralization identified in all areas.
Cal Everett, President and CEO for Liberty Gold said, “The 2022 exploration program is
accelerating at Black Pine, with activity spread throughout the property and an additional RC drill
was recently added to the project. The core drilling program was used to help design our exploration
drilling this year and has already been a valuable tool in predicting the location of areas of higher -
grade mineralization. Our present focus is on d iscovery of near -surface mineralization that will
impact the early phases of a future mining operation.”
KEY POINTS
• Results from 14 PQ core holes for geometallurgical and geotechnical purposes met or
exceeded expectations in all areas, including the Discovery, Rangefront, F, M, E, CD and J
zones.
• Highlights include:
o 3.98 g/t Au over 25.3 m including 8.55 g/t Au over 9.6 m in LBP 499C in North
Tallman
o 4.80 g/t Au over 21.2 m including 11.0 g/t Au over 7.5 m in LBP508C in F Zone
o 1.09 g/t Au over 29.1 m in LBP530C in M Zone
• Composites from four core holes in the Rangefront Zone were shipped to Kappes Cassiday
and Associates in Reno, Nevada for metallurgical column testing. Additional column testing
is planned for later in the year.
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• RC drilling in historic waste rock storage and pit backfill areas throughout the property
reported gold above the reporting cut -off in all areas, suggesting that much of the surficial
material presently classified as unmineralized waste rock may be reclassified as mineralized
material in a future resource estimate. Results of metallurgical testing of material of this
grade range and type are pending; further testing is planned for later in the year.
• RC drilling is presently focused on discovery of additional near -surface oxide
mineralization, including targets in the F, M and Back R ange zones, as well as expansion of
the Rangefront Zone to the north.
• An access road is being constructed into the new South Rangefront target area to allow
drilling to commence in this key target area in Q3.
RESULTS FROM LARGE DIAMETER CORE DRILLING PROGRAM
A total of 14 PQ core holes were drilled in support of geometallurgical and geotechnical programs.
One hole in the Rangefront Zone (LBP511C A) was released previously on May 25, 2022. Results
are in-line with expectations or in some cases exceeded them and provide valuable insights in the
structural and stratigraphic controls on mineralization.
For a map showing locations of drill holes in this release click here:
https://libertygold.ca/images/news/2022/August/BlackPineCorePRmap.pdf
For a table showing complete drill results from the holes in this release, click here:
https://libertygold.ca/images/news/2022/August/BlackPineCurrentResults.pdf
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FIGURE 1: MAP OF METALLURGICAL CORE DRILLING AND SURFICIAL MATERIAL RC
DRILLING
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TABLE 1: HIGHLIGHTS OF METALLURGICAL CORE DRILLING1
Hole ID (Az, Dip)
(degrees) From (m) To (m) Intercept
(m) Au (g/t) Au
Cut-Off
Hole
Length
(m)
Target Comments
LBP429CA (80, -60) 31.7 46.0 14.4 0.20
and 87.2 99.6 12.4 0.39
and 126.5 149.8 23.3 0.33
including 128.3 141.9 13.6 0.45 0.20
and including 132.4 133.4 1.0 1.35 1.00
and 151.6 160.3 8.7 0.45
and 203.9 223.6 19.7 0.31
and 226.8 241.1 14.3 0.28
and 248.7 259.5 10.8 1.39
including 253.3 256.3 3.0 3.93 1.00
LBP456C (260, -70) 7.0 19.8 12.8 0.33 0.20
and 28.7 47.3 18.7 0.25
and 75.0 84.1 9.1 0.79
including 75.0 82.3 7.3 0.93 0.20
and including 78.0 79.6 1.5 1.89 1.00
and 89.6 103.8 14.2 0.31 0.15
including 89.6 102.4 12.8 0.32 0.20
and 159.4 166.6 7.2 0.44
and 236.5 262.7 26.2 0.71
including 238.0 242.6 4.6 1.76
including 250.5 251.8 1.2 3.82
LBP485C (340, -45) 56.4 80.8 24.4 0.24 0.15
and 103.3 116.3 13.0 0.26 0.15
and 136.3 166.1 29.9 0.22 0.15
LBP489C (250, -80) 23.5 35.5 12.0 0.27 0.15
and 125.9 137.9 12.0 0.38 0.15
including 131.2 137.9 6.7 0.53 0.20
and including 136.2 137.9 1.7 1.21 1.00
and 160.5 173.7 13.3 0.46 0.20
LBP499C (122, -58) 53.3 71.6 18.3 0.48 0.20
including 54.4 55.8 1.4 1.25
including 57.3 58.2 0.9 1.77
and 82.0 96.0 14.0 0.24 0.20
and 181.4 206.7 25.3 3.98 0.20
including 181.4 197.1 15.7 5.99 1.00
and including 182.9 192.5 9.6 8.55 5.00
LBP508C (70, -60) 1.8 29.6 27.7 0.30 0.15
including 5.0 28.0 23.0 0.32
and 44.8 66.0 21.2 4.80
including 49.4 64.6 15.2 6.53 1.00
and including 52.4 59.9 7.5 11.0 5.00
LBP511CA (17, -62)* 245.2 263.8 18.6 0.24 0.15
and 274.3 374.7 100.4 1.38 0.15
including 274.3 368.8 94.5 1.45 0.20
and including 275.8 288.0 12.2 2.84 1.00
and including 284.6 286.5 1.9 6.60 5.00
and including 298.0 309.4 11.4 1.71
and including 316.5 319.0 2.5 2.90
and including 347.0 357.6 10.6 3.80
and including 349.0 353.6 4.6 6.87 5.00
F Zone 0.20
428.2 Rangefront D-4 Metallurgical Core
1.00
Metallurgical Core
0.15
0.15
0.15
0.15
280.7
1.00
1.00
Discovery Zone Geotechnical Core hole
196.0 CD Extention Geotechnical Core
233.9 North Tallman Metallurgical Core
170.7 E Zone Metallurgical Core
352.5 Discovery Zone Geotechnical and
Metallurgical Core
98.0
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TABLE 1: HIGHLIGHTS OF METALLURGICAL CORE DRILLING1 (continued)
1Downhole thickness are reported herein; true width varies depending on drill hole dip, but generally ranges from 60% to 90% of true
thickness. Gold grades are reported uncapped. For a full table of results for this release, please see the link above.
*Previously reported on May 25, 2022
RESULTS FROM RC DRILLING OF SURFICIAL MATERIALS
Thirty-three RC holes were drilled to test for mineralization in and under waste rock storage and
pit backfill in the Tallman, CD-I and B pits, and the large waste rock stores between Tallman and CD
pit and in the A Basin area north of the Discov ery Zone. Drilling was encouraging in that it
encountered significant areas above reporting cut-off grade mineralization and with most intervals
exhibiting moderate to strong cyanide solubility. A notable exception is a portion of the old Tallman
Pit backfill which returned high grades with poor cyanide solubility due to the presence of organic
carbon. In particular, the A Basin waste rock storage area returned over 35 m of above reporting
Hole ID (Az, Dip)
(degrees) From (m) To (m) Intercept
(m) Au (g/t) Au
Cut-Off
Hole
Length
(m)
Target Comments
LBP516CA (240, -45) 7.3 26.6 19.4 0.29 0.15
and 47.5 82.6 35.1 0.43 0.15
including 60.7 74.4 13.7 0.73 0.20
and including 67.8 71.0 3.2 1.45 1.00
LBP525C (30, -45) 32.8 45.6 12.8 0.38 0.20
and 50.6 91.9 41.3 0.47 0.15
including 50.6 71.2 20.6 0.53 0.20
and including 50.6 53.3 2.7 1.74 1.00
including 75.0 89.3 14.3 0.52 0.20
and including 83.5 84.7 1.2 1.88 1.00
LBP530C (220, -50) 30.1 33.8 3.8 0.69 0.20
including 30.1 31.6 1.5 1.14 1.00
and 79.4 108.5 29.1 1.09 0.20
including 79.4 82.6 3.2 3.31
including 90.8 95.6 4.7 2.10
LBP533C (120, -63) 41.8 75.1 33.4 0.27 0.15
and 90.9 115.4 24.4 0.55 0.15
including 90.9 110.2 19.3 0.64 0.20
and including 90.9 93.6 2.7 2.25 1.00
LBP541C (0, -70) 17.4 36.7 19.4 0.34 0.20
and 110.3 137.9 27.5 0.21
and 210.9 219.0 8.1 0.54
including 210.9 216.0 5.0 0.77 0.20
and 229.1 241.8 12.8 0.21
and 293.2 318.4 25.2 0.36
including 293.2 312.0 18.7 0.42 0.20
and including 296.4 297.6 1.2 1.34 1.00
LBP556C (0, -70) 146.3 161.5 15.2 0.22 0.15
and 191.0 205.3 14.3 0.27 0.20
and 216.6 247.5 30.9 0.53 0.15
including 234.7 247.5 12.8 0.93 0.20
and including 239.7 243.1 3.4 1.22 1.00
and 296.1 312.1 15.9 0.51 0.15
including 296.1 305.4 9.3 0.74 0.20
and including 301.4 303.2 1.8 1.66 1.00
349.6 Rangefront Metallurgical Core
359.7 Rangefront North
Metallurgical Hole
0 - 170 m RC Precollar
170 - 359.7 m Core
132.9 Rangefront Metallurgical Core
Metallurgical Core
0.15
0.15
1.00
143.6 M Zone Metallurgical Core
131.4 CD Pit North Metallurgical Core
135.9 I Pit
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cut-off grade material in two holes. The results of this program suggest that much of the surficial
“waste” material that presently lies within the resource pit may be reclassified as mineralized
material in a future resource estimate.
TABLE 2: HIGHLIGHTS OF WASTE DUMP AND BACKFILL DRILLING1
1Downhole thickness are reported herein; true width varies depending on drill hole dip, but generally ranges from 60% to 90% of true
thickness. Gold grades are reported uncapped. Au (g/t) = grams per tonne of gold. “AuCN/AuFA” is the ratio of cyanide soluble gold
(recovered using the method described in the Quality Assurance – Quality Control section below) to gold by fire assay, expressed as
percent. For a full table of results for this release, please see the link above.
Hole ID (Az, Dip)
(degrees) From (m) To (m) Intercept
(m) Au (g/t) Au
Cut-Off
Hole
Length
(m)
Target Comments g/t x m AuCN/AuFA
%
LBP587 (0, -90) 0.0 9.1 9.1 0.15 Backfill 39%
and 86.9 109.7 22.9 0.33 70%
including 86.9 103.6 16.8 0.39 0.20 76%
and including 100.6 102.1 1.5 1.41 1.00 86%
and 131.1 134.1 3.0 0.39 0.20 69%
LBP589 (0, -90) 16.8 93.0 76.2 1.11 0.15 26%
including 16.8 38.1 21.3 0.83 0.20 8%
and including 21.3 24.4 3.0 3.10 1.00 0%
including 39.6 53.3 13.7 1.99 0.20 10%
and including 41.1 47.2 6.1 3.64 1.00 10%
and including 41.1 44.2 3.0 5.32 5.00 8%
including 59.4 93.0 33.5 1.14 0.20 46%
and including 64.0 67.1 3.0 3.18 7%
and including 82.3 89.9 7.6 2.44 81%
and including 86.9 88.4 1.5 5.64 5.00 87%
LBP594 (0, -90) 1.5 18.3 16.8 0.20 0.15 35%
including 1.5 7.6 6.1 0.25 0.20 43%
and 79.2 96.0 16.8 0.40 0.15 68%
including 82.3 94.5 12.2 0.49 0.20 70%
LBP596 (0, -90) 0.0 7.6 7.6 0.34 0.15 42%
including 0.0 4.6 4.6 0.46 0.20 48%
and 41.1 48.8 7.6 0.24 0.15 82%
including 41.1 44.2 3.0 0.35 0.20 87%
and 57.9 64.0 6.1 0.23 0.15 77%
LBP601 (0, -90) 3.0 16.8 13.7 0.24 0.15 39%
including 7.6 16.8 9.1 0.27 0.20 31%
LBP603 (0, -90) 1.5 16.8 15.2 0.24 0.15 38%
including 1.5 13.7 12.2 0.27 0.20 42%
LBP604 (60, -60) 1.5 25.9 24.4 0.21 0.15 40%
including 12.2 21.3 9.1 0.27 0.20 32%
LBP607 (240, -60) 6.1 33.5 27.4 0.30 0.15 37%
including 7.6 15.2 7.6 0.38 26%
including 21.3 33.5 12.2 0.33 49%
LBP608 (270, -90) 4.6 10.7 6.1 0.27 0.15 91.4 C D Bac kfill Bac kfill 1.7 72%
LBP610 (0, -90) 6.1 21.3 15.2 0.24 0.15 65%
including 10.7 21.3 10.7 0.26 0.20 69%
LBP611 (330, -45) 3.0 10.7 7.6 0.27 0.15 99.1 C D Bac kfill Bac kfill 2.1 86%
LBP615 (220, -60) 118.9 129.5 10.7 0.34 0.15 166.1 Long Lower Dump Bedrock 3.6 86%
LBP617 (270, -55) 1.5 15.2 13.7 0.18 0.15 178.3 Long Lower Dump Bac kfill 2.4 65%
LBP618 (210, -45) 35.1 42.7 7.6 0.28 0.20 135.6 C D Bac kfill Bac kfill 2.1 96%
LBP620 (0, -90) 9.1 36.6 27.4 0.20 0.15 68%
including 25.9 30.5 4.6 0.27 79%
LBP624 (0, -90) 19.8 27.4 7.6 0.26 0.20 158.5 C D/Tallman Dump Bac kfill 2.0 46%
LBP659 (0, -90) 0.0 32.0 32.0 0.28 0.15 48%
including 22.9 32.0 9.1 0.31 0.20 46%
and 79.2 86.9 7.6 0.15 57%
and 88.4 100.6 12.2 0.35 76%
including 88.4 99.1 10.7 0.38 0.20 77%
LBP661 (220, -85) 0.0 38.1 38.1 0.26 0.15 68%
including 0.0 15.2 15.2 0.30 56%
including 16.8 32.0 15.2 0.28 79%
0.15
153.9 CD Backfill 10.2Bedrock
153.9 CD Backfill
Backfill
10.0
Bedrock
1.00
Bedrock
129.5 Tallman Backfill
Backfill material is
carbonaceous with low
AuCN 84.4
3.3207.3 Tallman Bac kfill Bac kfill
129.5 C D Bac kfill
Bac kfill
5.8
Bedrock
0.20
3.7
213.4 Tallman Bac kfill Bac kfill 5.1
50.3 Valley Dam
Bac kfill Bac kfill
135.6 C D/Tallman Dump Bac kfill 5.6
184.4 Tallman Bac kfill Bac kfill 3.7
152.4 Tallman Bac kfill Bac kfill 8.2
14.40.15 Bedrock
56.4 A Basin Waste
Dump Backfill 10.00.20
153.9 A Basin Waste Dump
Backfill
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QUALITY ASSURANCE – QUALITY CONTROL
Drill composites were calculated using cut-offs of 0.15 g/t Au, 0.20 g/t Au, 1.0 g/t Au and 5.0 g/t Au.
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 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 0.10 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.
QUALIFIED PERSON
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.
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. 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 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. 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", a nd similar expressions, or describes a "goal", or variation of such words and
phrases or state that certain actions, events or results "may", "should", "could", "would", "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
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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, the availability of drill rigs, the timing of the publication of any updated
resources, preliminary economic assessments or pre-feasibility studies, 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 th ey 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 t he reliance on
technical information provided by third parties as related to the Company’s mineral property interests; changes in project pa rameters as plans
continue to be refined; current economic conditions; future prices of commodities; possible variat ions 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); the timing of the publication of any updated
resources, any preliminary economic assessments or pre-feasibility studies, successful, delays in obtaining governmental approvals, the completion
of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 25, 2022 in the s ection 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 anticipated, 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 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.
Cautionary Note for United States Investors
The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource”, are Canadian mining
terms as defined in, and required to be disclosed in accordance with, National Instrument 43 -101 – Standards of Disclosure for Mineral Projects
(“NI 43-101”), which references the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) – CIM Definition
Standards on Mineral Resources and Mineral Reserves (“CIM Definition Standards”), adopted by the CIM Council, as amended. However, these
terms are not defined terms under SEC Industry Guide 7 (“SEC Industry Guide 7”) under the United States Securities Act of 1933, as amended, and
normally are not permitted to be used in reports and registration statements filed with United States Securities and Exchange Commis sion (the
“SEC”). The SEC has adopted amendments to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose
securities are registered with the SEC under the United States Securities Exchange Act of 1934, as amended. These amendments became effective
February 25, 2019 (the “SEC Modernization Rules”) with compliance required for the first fiscal year beginning on or after January 1, 2021. The
SEC Modernization Rules replace the historical disclosure requirements for mining registrants that were included in SEC Indus try Guide 7. The
Company does not file reports with the SEC and is not required to provide disclosure on its mineral properties under the SEC Modernization Rules
and will continue to provide disclosure under NI 43-101 and the CIM Definition Standards.