Liberty Gold Completes the 2022 Drilling Season with Positive Results and Further De-risking Activities at the Black Pine Oxide Gold Deposit, Idaho 0.60 g/t Au over 80.8 m including 1.47 g/t Au over 13.7 m in LBP750 Future process water and access for mine infrastructure secured
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News Release 22-30 December 13, 2022
Liberty Gold Completes the 2022 Drilling Season with Positive Results and
Further De-risking Activities at the Black Pine Oxide Gold Deposit, Idaho
0.60 g/t Au over 80.8 m including 1.47 g/t Au over 13.7 m in LBP750
Future process water and access for mine infrastructure secured
VANCOUVER, B.C. – Liberty Gold Corp. (TSX : LGD; OTCQX: LGDTF) (“Liberty Gold” or the
“Company”) is pleased to report new exploration drill results from its Black Pine oxide gold project
in southeastern Idaho, together with a summary of 2022 activities . These results form part of a
324 hole, 67,000 metre (“m”) 2022 reverse circulation (“RC”) and core drilling program at Black
Pine to upgrade and expand the current mineral resource and discover new oxide gold
mineralization. Project de-risking activities have progressed in parallel with resource delineation
drilling at Black Pine, with the objective of front-end loading technical work in advance of the mine
permitting phase.
New Drilling Highlights:
• Extended shallow mineralization along the southern edge of the Discovery Zone:
o 0.60 grams per tonne gold (“g/t Au”) over 80.8 m from 24.4 m to 105.2 m, including
1.47 g/t Au over 13.7 m in LBP750
• Completed resource delineation drilling in the F Zone:
o 0.47 g/t Au over 47.2 m from 9.1 m to 56.4 m in LBP744
• Further defined oxide gold mineralization in the A Basin surficial waste rock storage area:
o 0.30 g/t Au over 33.5 m from 1.5 m to 35.1 m in LBP675
• Discovered a new, shallow zone of oxide gold mineralization in the Bobcat target:
o 0.64 g/t Au over 19.8 m from surface in LBP761
• Drilled the South Rangefront target located approximately 500 m south of the southern edge
of the Rangefront Zone:
o 0.57 g/t Au over 51.8 m in LBP708
2022 De-risking Activities:
• Expansion of mineralization in the F, E, M, CD and Rangefront zones (see press releases
dated November 8 and November 15, 2022) including areas of shallow higher -grade
mineralization that may serve to consolidate smaller pits into fewer, larger ones and change
the grade profile of the early years of mining.
• Acquisition of strategic Idaho State (Section 36) and private mineral rights which have the
potential to provide access for future mine infrastructure development (see press release
dated February 10, 2022).
• Drilled 14 large-diameter (“PQ”) metallurgical core holes, generating composites from
throughout the property for column testing; results expected over the second half of 2023
(see press release dated August 2, 2022).
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• Permitted a new Plan of Operations with the Bureau of Land Management (“BLM”) to
explore areas to the east of the current Black Pine deposit footprint (see press release dated
September 12, 2022).
• Submitted a modification to the existing United States Forest Service (“USFS”) Plan of
Operations to expand the footprint of the Black Pine gold system (see press release dated
November 28, 2022).
• Acquired new water rights out of the Black Pine Mine bankruptcy, sufficient to sustain a
large, open-pit heap leach mining operation (see press release dated November 28, 2022).
Jason Attew, President and CEO of Liberty Gold commented, “By any measure, the 2022 exploration
and development programs at Black Pine were a resounding success. Not only have we encountered oxide
gold in virtually every hole we have received assay results for this year, but we have increased
substantively the footprint of the Black Pine gold system, expanded areas of near -surface, higher-grade
mineralization, and discovered new oxide gold mineralization in at least two peripheral targets. We have
materially de-risked the project by securing process water, acquiring private and state mineral rights ,
which would allow us to site future mine infrastructure and have secured Federal permits for expanded
exploration drilling in the coming year. We look forward to continued success in the new year with the
release of assay result from an estimated 80 pending holes to close out the 2022 drilling campaign , an
updated resource estimate and further growth and advancement of the project.”
For a map and cross sections showing locations of drill holes in this release click here:
https://libertygold.ca/images/news/2022/December/BlackPine12132022Map_Sections.pdf
For a table showing complete drill results for all Liberty Gold drilling to date at Black Pine, click here:
https://libertygold.ca/images/news/2022/December/BlackPine12132022AllDrillResults.pdf
Drilling at Black Pine was completed for the season on December 13, 2022. Current drill results are
summarized below per mineralized zone:
DISCOVERY SOUTH RESOURCE UPGRADE DRILLING
Two holes tested an area of sparse historic drilling near the edge of the backfilled original Tallman
Pit, the site of the first open pit mining at Black Pine in the 1950’s. Results from these holes were
better than expected, with above averaged grades and cyanide solubility at shallow depth.
DISCOVERY SOUTH HIGHLIGHT TABLE*
*Please refer to the full t able at the link above for complete results. Results are reported as drilled thicknesses, with true thicknesses
approximately 50 to 90% of drilled thickness. Gold grades are uncapped. Au (g/t) = grams per tonne of gold.
Hole ID (Az, Dip)
(degrees) From (m) To (m) Intercept
(m) Au (g/t) Au
Cut-Off
Hole
Length
(m)
Target Comments
LBP750 (300, -90) 24.4 105.2 80.8 0.60 0.15
including 24.4 83.8 59.4 0.67 0.20
and including 30.5 44.2 13.7 1.47 1.00
and including 100.6 102.1 1.5 1.59 1.00
LBP754 (300, -50) 33.5 39.6 6.1 0.24 0.15
and 80.8 111.3 30.5 0.50
including 89.9 91.4 1.5 1.05
including 94.5 96.0 1.5 1.69
147.8 Discovery South
(Tallman Area) Resource Expansion
1.00
105.2 Discovery South
(Tallman Area) Resource Expansion
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BOBCAT SHALLOW OXIDE GOLD DISCOVERY
An area approximately 500 m south of the CD historic pit with limited shallow historic drilling was
explored by Liberty Gold with 14 drill holes. An area measuring approximately 400 m x 200 m was
identified for follow-up drilling with an additional 13 shallow holes, resulting in identification of an
area of shallow gold mineralization. The zone is still open for expansion in several directions , with
additional drilling planned for 2023.
BOBCAT ZONE HIGHLIGHT TABLE*
*Please refer to the full ta ble at the link above for complete results. Results are reported as drilled thicknesses, with true thicknesses
approximately 50 to 90% of drilled thickness. Gold grades are uncapped. Au (g/t) = grams per tonne of gold.
F ZONE
Drilling in the F Zone for r esource expansion was completed with the addition of five holes in the
northern portion of the zone to close a gap between the F and Discovery zones and one in the main
F Zone area for infill. The drilling identified shallow surface oxide mineralization in the gap.
Hole ID (Az, Dip)
(degrees) From (m) To (m) Intercept
(m) Au (g/t) Au
Cut-Off
Hole
Length
(m)
Target Comments
LBP635 (0, -45) 62.5 74.7 12.2 0.31 0.15
including 62.5 70.1 7.6 0.41 0.20
and 88.4 103.6 15.2 0.29 0.15
including 99.1 103.6 4.6 0.47 0.20
and 109.7 118.9 9.1 0.64 0.15
including 109.7 117.3 7.6 0.73 0.20
and including 112.8 114.3 1.5 1.06 1.00
LBP643 (40, -55) 155.4 166.1 10.7 0.62 0.20 281.9 Bobcat Reconnaissance
LBP648 (90, -50) 41.1 42.7 1.5 2.22
and 83.8 85.3 1.5 2.20
LBP653 (45, -45) 140.2 164.6 24.4 0.37 0.15
including 140.2 150.9 10.7 0.54 0.20
and including 144.8 146.3 1.5 1.17 1.00
including 155.4 163.1 7.6 0.28 0.20
LBP655 (45, -45) 22.9 30.5 7.6 0.66 0.20
and 61.0 85.3 24.4 0.26 0.15
including 61.0 67.1 6.1 0.42 0.20
LBP681 (135, -45) 12.2 18.3 6.1 0.64 0.15
including 13.7 16.8 3.0 1.11 0.20
and including 13.7 15.2 1.5 1.77 1.00
LBP760 (0, -90) 3.0 12.2 9.1 0.24 0.20
and 27.4 44.2 16.8 0.26 0.15
including 27.4 42.7 15.2 0.27 0.20
LBP761 (0, -90) 0.0 19.8 19.8 0.64 0.15
and 33.5 44.2 10.7 0.26 0.15
including 33.5 39.6 6.1 0.33 0.20
LBP764 (35, -45) 88.4 94.5 6.1 1.29 0.20
including 89.9 93.0 3.0 2.07 1.00
269.7 Bobcat Reconnaissance
1.00 342.9 Bobcat Reconnaissance
153.9 Bobcat Reconnaissance
214.9 Bobcat Reconnaissance
227.1 Bobcat Reconnaissance
50.3 Bobcat Resource Definition
50.3 Bobcat Resource Definition
152.4 Bobcat Resource Definition
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F ZONE HIGHLIGHT TABLE*
*Please refer to the full table at the link above for complete results. Results are reported as drilled thicknesses, with tru e thicknesses
approximately 50 to 90% of drilled thickness. Gold grades are uncapped. Au (g/t) = grams per tonne of gold.
A BASIN WASTE ROCK STORAGE AREA
The A Basin waste rock storage area was targeted for further drilling following the identification
of oxide gold mineralized surficial material in previous drilling. Drill holes continued to intersect
shallow gold mineralization in the waste rock storage area in excess of the expected resource cut-
off grade, as well as in bedrock immediately underlying the waste rock storage.
A BASIN HIGHLIGHT TABLE*
*Please refer to the full table at the link above for complete results. Results are reported as drilled thicknesses, with tru e thicknesses
approximately 50 to 90% of drilled thickness. Gold grades are uncapped. Au (g/t) = grams per tonne of gold.
Hole ID (Az, Dip)
(degrees) From (m) To (m) Intercept
(m) Au (g/t) Au
Cut-Off
Hole
Length
(m)
Target Comments
LBP725 (280, -45) 73.2 80.8 7.6 0.39 0.15
including 74.7 80.8 6.1 0.45
and 89.9 103.6 13.7 1.23
including 93.0 102.1 9.1 1.44 1.00
LBP732 (245, -45) 0.0 35.1 35.1 0.37 0.20
and 54.9 65.5 10.7 0.37 0.15
including 56.4 65.5 9.1 0.40 0.20
LBP744 (190, -45) 9.1 56.4 47.2 0.47 0.15
including 9.1 45.7 36.6 0.53 0.20
and including 12.2 16.8 4.6 1.68 1.00
0.20
123.4 F Zone North Resource Expansion
147.8 F Zone Resource Expansion
153.9 F Zone North Resource Expansion
Hole ID (Az, Dip)
(degrees) From (m) To (m) Intercept
(m) Au (g/t) Au
Cut-Off
Hole
Length
(m)
Target Comments
LBP664 (0, -90) 0.0 10.7 10.7 0.32 0.15
including 0.0 7.6 7.6 0.37
and 73.2 96.0 22.9 0.87
including 83.8 89.9 6.1 1.11 1.00
including 93.0 96.0 3.0 1.88 1.00
LBP669 (0, -90) 0.0 32.0 32.0 0.22 0.15
including 7.6 22.9 15.2 0.26 0.20
LBP675 (0, -90) 1.5 35.1 33.5 0.30 0.20
and 42.7 53.3 10.7 0.23 0.15
LBP676 (120, -50) 19.8 57.9 38.1 0.22 0.15
and 65.5 88.4 22.9 0.23 0.15
including 65.5 74.7 9.1 0.26 0.20
LBP748 (0, -90) 0.0 24.4 24.4 0.23 0.15 Waste Rock
and 105.2 125.0 19.8 0.62
including 109.7 111.3 1.5 1.14
including 123.4 125.0 1.5 1.21
LBP753 (0, -90) 0.0 35.1 35.1 0.26 0.15
including 13.7 30.5 16.8 0.34 0.20
and 56.4 79.2 22.9 0.29 0.15
including 68.6 79.2 10.7 0.44 0.20
and including 70.1 71.6 1.5 1.02 1.00
202.7 A Basin Waste Rock
Storage
Waste Rock
0.20
Bedrock
1.00
91.4 B Pit Backfill Waste Rock extends to TD
208.8 A Basin Waste Rock
Storage Waste Rock
56.4 A Basin Waste Rock
Storage
Resource Definition
Reduced cyanide solubility
Bedrock184.4 A Basin Waste
RockStorage
227.1 A Basin Waste Rock
Storage Resource Definition
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RANGEFRONT ZONE EXPANSION
Drilling continues in the Rangefront Zone to expand the limits of the zone and infill areas with lower
drill density. Drilling will continue throughout the winter months to ensure the largest possible area
is drilled off to Indicated for inclusion in any subsequent engineering studies.
One reconnaissance hole was drilled 500 m south of the southern edge of the Rangefront Zone as
presently defined (“South Rangefront”). The hole encountered 0.57 g/t Au over 51.8 m starting at
440.4 m. While this gold mineralization is deep and non-oxide, it indicates that the Black Pine gold
system is present in this area. Follow-up drilling to identify shallower zones of oxide mineralization
associated with this discovery is planned for 2023.
RANGEFRONT ZONE HIGHLIGHT TABLE*
*Please refer to the full table at the link above for complete results. Results are reported as drilled thicknesses, with true thicknesses
approximately 50 to 90% of drilled thickness. Gold grades are uncapped. Au (g/t) = grams per tonne of gold. The base of the zone is
situated at the lowest structural level of the deposit, such that carbonaceous material is frequently encountered at the base of the oxide
zone, leading to reduced cyanide solubility at depth.
With the 2022 field program recently completed, drilling will resume in lower elevation areas on
January 6, 2023. The Black Pine resource model will be updated progressively over the next months
as assays become available and work remains on track for an updated resource estimate release in
the first quarter 2023.
Hole ID (Az, Dip)
(degrees) From (m) To (m) Intercept
(m) Au (g/t) Au
Cut-Off
Hole
Length
(m)
Target Comments
LBP708 (210, -65) 27.4 36.6 9.1 0.17
and 420.6 423.7 3.0 0.55
including 420.6 422.1 1.5 0.93
and 440.4 492.3 51.8 0.57
including 458.7 461.8 3.0 1.36 1.00
LBP735 (270, -55) 15.2 32.0 16.8 0.26
and 106.7 117.3 10.7 0.20
and 123.4 135.6 12.2 0.41
including 125.0 134.1 9.1 0.49 0.20
and including 129.5 131.1 1.5 1.14 1.00
and 178.3 184.4 6.1 0.68 0.20
including 181.4 182.9 1.5 1.01 1.00
and 196.6 207.3 10.7 0.43 0.20
LBP741 (205, -55) 73.2 82.3 9.1 0.20 0.15
and 112.8 144.8 32.0 0.34 0.15
including 121.9 132.6 10.7 0.36
including 138.7 144.8 6.1 0.79
and including 141.7 144.8 3.0 1.38 1.00
and 147.8 178.3 30.5 0.22 0.15
LBP745 (115, -45) 65.5 93.0 27.4 0.36 0.20
and 99.1 106.7 7.6 0.26 0.15
and 170.7 182.9 12.2 0.30
including 176.8 182.9 6.1 0.43 0.20
LBP746 (30, -65) 35.1 42.7 7.6 0.28
and 73.2 93.0 19.8 0.32
and 123.4 152.4 29.0 0.19
and 184.4 210.3 25.9 0.49 0.15
including 184.4 208.8 24.4 0.51 0.20
and including 202.7 205.7 3.0 1.71 1.00
0.15
492.3 South Rangefront
Reconnaissance
reduced cyanide solubility
below 420 m0.20
251.5 Rangefront Resource Upgrade
0.15
0.15
182.9 Rangefront Resource Upgrade
269.7 Rangefront Resource Upgrade
251.5 Rangefront Resource Upgrade0.20
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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
QUALITY ASSURANCE – QUALITY CONTROL
Drill composites were calculated using a cut -off of 0.10 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 50% to 90%
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 and Twin Falls prep lab listed
on the scope of accreditation.
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", 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", "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 for existing
licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, timing of
assay results, scalability of metallurgical results, results and accuracy of mineral resources, the availability of drill rigs, 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
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technical information provided by third parties as related 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; the timing and success of exploration activities generally; timing of any preliminary economic assessments or feasibility assessments;
scalability of metallurgical results, 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
Annual Information Form of the Company dated March 25, 2022 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 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.