Liberty Gold Defines High-Grade Mineralized Core at Rangefront Focus Area, Black Pine Oxide Gold Deposit LBP473: 1.95 g/t Au over 41.1 m, including 4.43 g/t Au over 10.8 m LBP487: 0.69 g/t Au over 39.6 m and 1.48 g/t Au over 39.6 m
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News Release 22-02 January 18, 2022
Liberty Gold Defines High-Grade Mineralized Core at
Rangefront Focus Area, Black Pine Oxide Gold Deposit
LBP473: 1.95 g/t Au over 41.1 m, including 4.43 g/t Au over 10.8 m
LBP487: 0.69 g/t Au over 39.6 m and 1.48 g/t Au over 39.6 m
VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the
“Company”) is pleased to announce additional reverse circulation (“RC”) results from the 2021 drill
program in the Rangefront Focus Area (“RFA”) at the Black Pine oxide gold deposit, Idaho.
The RFA is host to a major new oxide gold discovery in the down-faulted southeast portion of the
Black Pine gold system and has been a focus of our drill campaign since it was discovered in Q3
2021. Results to-date confirm the RFA discovery is quickly expanding , with gold mineralization
extending over a n area of approximately one square kilometer (“km2”) and it remains open for
extension in all directions.
Liberty Gold has continued to expand on the D-4 Discovery area within the RFA, adding drill sites
to the north, south and east, toward the original Rangefront deposit defined by shallow historical
drilling. Notably, a NW-SE-trending, high-grade mineralized core has now been delineated over a
300 x 400-meter (“m”) area that remains open along trend to the NW and SE. Additionally, of the 46
holes drilled and assayed in the RFA since Q3 2021, virtually all have returned multiple, relatively
flat zones of oxide gold mineralization from near-surface to a depth of up to 400 m.
Cal Everett, President and CEO of Liberty Gold stated, “RFA drilling continues to deliver significant
oxide gold intercepts in multiple zones over a large surface area. With a high- grade core now
defined and open for expansion along trend, we expect a significant upgrade to the mineral resource
estimate in 2022.”
Moira Smith , VP Exploration and Geoscience for Liberty Gold stated, “The results are so
compelling, we have decided to forgo the typical winter drill shut -down and work through the
winter with three RC and one core drill focused on the RFA . The geometry and scope of
mineralization at Rangefront looks very similar in many ways to the Discovery Zone after only four
months of drilling , with several stacked, low -angle zones of structurally and stratigraphically
controlled mineralization around a high -grade core. This similarity continues to reinforce our
hypothesis that the RFA represents the down-faulted southeast portion of the Black Pine gold
system. The current success at the RFA is exciting and there remain several square kilometres of
un-drilled prospective ground.”
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For a map and cross section of the RFA, please click here:
https://libertygold.ca/images/news/2022/January/BlackPine_NR01182022MapSection.pdf
For a full table of results for this release, please click here:
https://libertygold.ca/images/news/2022/January/BlackPine_NR01182022CurrentAssays.pdf
RFA HIGHLIGHTS:
• The mineralized envelope in the RFA has been confirmed by widely spaced drilling over an
area that now covers in excess of 1 km2 and remains open for expansion in all directions.
• A NW-SE-trending high-grade core has now been defined in the D-4 area of the RFA over a
surface area measuring at least 300 x 400 m.
• This high -grade core remains open along trend to the NW and SE and is parallel to the
dominant trend of mineralization throughout the Black Pine gold system.
• Current drill spacing over the D -4 area ranges from 100 to 300 metres, with drilling now
focused on infill and step-out to continue to enlarge the RFA and define a resource.
• Oxide gold mineralization is present in relatively flat, stacked lenses related to bedding and
low-angle shears and breccia zones.
• The average cumulative intercept thickness at a 0.15 grams per tonne gold (“g/t Au”) cut-off
for holes in this release is 68 m, with a high of 113 m.
• Mineralization extends from near -surface to over 400 m in depth to the west, becoming
gradually shallower to the north and east and extending to surface in the historic
Rangefront pits.
RANGEFRONT HIGH GRADE CORE ZONE HIGHLIGHT TABLE1
Selected intercepts for holes from the RFA high- grade core zone are shown below. The table
includes holes from previous releases; holes from this release are highlighted in yellow, and include
LBP439, LBP473, LBP 484 and LBP 487. For a full table of results from the 27 new holes in 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*
LBP356 (0, -55) 253.0 339.9 86.9 0.91 0.15
including 285.0 339.9 54.9 1.32 0.20
and including 286.5 309.4 22.9 2.15
and including 315.5 318.5 3.0 2.83
and including 289.6 291.1 1.5 5.75 5.00
and 346.0 367.3 21.3 2.03 0.20
including 349.0 365.8 16.8 2.52 1.00
and including 352.0 353.6 1.5 5.15 5.00
470.9 Rangefront Gap Reconnaissance 133.5
1.00
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RANGEFRONT HIGH GRADE CORE ZONE HIGHLIGHT TABLE1 (Continued)
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*
LBP358 (45, -50) 262.1 286.5 24.4 1.23 0.15
and including 266.7 281.9 15.2 1.85 1.00
and 295.7 346.0 50.3 1.37 0.15
and including 307.9 330.2 22.9 2.37
and including 324.6 326.1 1.5 6.75 5.00
LBP408 (110, -90) 234.7 347.5 112.8 0.63 0.15
including 242.3 315.5 73.2 0.74
including 321.6 347.5 25.9 0.54
and including 292.6 300.2 7.6 2.55 1.00
LBP418 (0, -62) 217.9 260.6 42.7 0.50 0.15
and including 242.3 245.4 3.0 1.42 1.00
and 300.2 324.6 24.4 1.00 0.15
and including 312.4 318.5 6.1 2.64 1.00
LBP427 (145, -75) 39.6 57.9 18.3 0.59 0.20
and 176.8 198.1 21.3 0.43 0.15
including 181.4 198.1 16.8 0.49 0.20
and 237.7 246.9 9.1 0.73 0.15
and 417.6 429.8 12.2 0.58 0.15
including 420.6 422.2 1.5 1.74 1.00
LBP432 (145, -58) 41.2 64.0 22.9 0.45 0.15
including 41.2 57.9 16.8 0.56 0.20
and 153.9 163.1 9.1 0.73 0.15
and including 158.5 161.5 3.0 1.34 1.00
and 196.6 214.9 18.3 0.60 0.20
including 208.8 211.8 3.0 1.20 1.00
and 234.7 257.6 22.9 0.75 0.20
including 234.7 239.3 4.6 1.82 1.00
and 341.4 378.0 36.6 0.32 0.15
including 341.4 359.7 18.3 0.40 0.20
LBP435 (100, -60) 38.1 67.1 29.0 0.34
and 199.6 219.5 19.8 0.34
and 228.6 242.3 13.7 0.51
and 260.6 278.9 18.3 0.62 0.20
including 263.7 266.7 3.0 1.41 1.00
and 408.4 419.1 10.7 0.62 0.15
and including 408.4 410.0 1.5 2.14 1.00
LBP439 (210, -72) 272.8 304.8 32.0 0.60 0.15
and including 291.1 292.6 1.5 2.08
and including 297.2 298.7 1.5 1.72
LBP473 (310, -65) 167.6 176.8 9.1 0.52 0.15
and 190.5 204.2 13.7 0.42 0.15
including 198.1 201.2 3.0 1.29 0.20
and 245.4 262.1 16.8 0.35 0.15
and 304.8 346.0 41.1 1.95 0.20
including 304.8 315.5 10.8 4.43
including 333.8 342.9 9.1 2.95
1.00
0.20
477.0 Rangefront D-4 Reconnaissance 64.6
432.8 Rangefront D-4 Reconnaissance 46.0
49.7
367.3 Rangefront D-4
434.3 Rangefront Gap Reconnaissance
419.1 Rangefront D-4 Reconnaissance
112.2
1.00
0.15
Reconnaissance 74.7
410.0
416.1 Rangefront D-4 North Reconnaissance 99.9
477.0 Rangefront D-4 Reconnaissance 46.2
Rangefront D-4 Reconnaissance 31.9
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RANGEFRONT HIGH GRADE CORE ZONE HIGHLIGHT TABLE1 (Continued)
1Liberty Gold has changed the reporting cut -offs to include a 0.15 g/t Au cut -off, to reflect the lower cut -offs used by most operating
oxide heap-leach mines in the Great Basin. The 0.15 g/t Au cut off is not shown in the table if it is identical to the corresponding interval
using a 0.2 g/t Au cut-off. Downhole thickness are reported herein; true width varies depending on drill hole dip , but generally range
from 60% to 80% of true thickness. Gold grades are reported uncapped.
2022 WORK PROGRAM
The 2022 exploration program at Black Pine commenced at the beginning of January, with three RC
and one core rig active. Drilling through to the end of February will focus on the lower -elevation
RFA to provide data for resource estimation and metallurgical testing . The current RFA drill
campaign will end in late February, and the drillhole database and geological model will be updated
for the upcoming mineral resource estimate. The drills will then move off in the interim to continue
both in-fill and step-out drilling at other prospective areas on the Black Pine deposit.
Liberty Gold plans to aggressively advance Black Pine in 2022 with drillin g, initial engineering and
permitting programs and further de-risking activities, with the goal to provide an updated resource
estimate and Preliminary Economic Assessment in Q3 2022 and reach a prefeasibility decision by
Q4 2022.
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 Nevada Gold Mines’ Long Canyon deposit, Black Pine represents 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 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, with an average head grade of 0.63 g/t Au.
A mineral resource estimate containing an indicated mineral resource of 1,715,000 ounces of gold
at an average grade of 0.51 g/t Au and totalling 105,075,000 tonnes; and an inferred mineral
resource of 370,000 ounces of gold at an average grade of 0.37 g/t Au and totalling 31,211,000
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*
LBP484 (335, -55) 163.1 189.0 25.9 0.35 0.15
including 170.7 187.5 16.8 0.44 0.20
and 196.6 221.0 24.4 0.28 0.15
and 304.8 342.9 38.1 0.76
including 307.9 318.5 10.7 1.67 1.00
LBP487 (5, -68) 202.8 246.9 39.6 0.69 0.15
and including 231.7 234.7 3.0 2.64
and including 242.3 245.4 3.0 1.33
and 292.6 332.2 39.6 1.48 0.15
including 292.6 307.9 15.2 3.34 0.20
and including 295.7 304.8 9.1 5.29 1.00
and including 297.2 300.2 3.0 10.2 5.00
*g/t x m is given for the sum of all intercepts; please refer to the table provided in the link above
Rangefront Reconnaissance 89.9
1.00
410.0
403.9 Rangefront D-4 North Reconnaissance 49.5
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tonnes was released on July 13, 2021, with the resource technical report filed on SEDAR on August
19, 2021, and available on the Liberty Gold website.
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: libertygold.ca
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 Fi re Assay of a 30 gram (1 assay ton) charge with an AA finish, or if over
5.0 g/t Au 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 al l 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 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 applicabl e 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", "p roject", "predict", "potential", "targeting", "intends", "believe", "potential", and similar
Page 6 of 6
expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results " may",
"should", "could", "would", "mig ht" 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 pe rmits 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 publicatio n 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 th at
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 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 ; 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, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the
Company dated March 26, 2021 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.
Cautionary Note for United States Investors
The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “in ferred 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 Cana dian 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 I ndustry Guide 7
(“SEC Industry Guide 7”) under the United States Securities Act of 1933, as amended, and normally are not permitted to be use d
in reports and registration statements filed with United States Securities and Exchange Commission (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 b ecame
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 th at were
included in SEC Industry 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 C IM
Definition Standards.