Liberty Gold Drills Thick, High-Grade Carlin-Style Gold Mineralization at the Black Pine Project, Idaho, USA, Including 2.51 g/t Oxide Gold over 41.1 Metres and 0.94 g/t Au over 100.6 Metres Results Continue to Expand Second Zone of High-Grade Oxide Gold
N E W S R E L E A S E 1 9 - 1 8 O c t o b e r 1 , 2019
Liberty Gold Drills Thick, High-Grade Carlin-Style Gold Mineralization at the Black
Pine Project, Idaho, USA, Including 2.51 g/t Oxide Gold over 41.1 Metres and
0.94 g/t Au over 100.6 Metres
Results Continue to Expand Second Zone of High-Grade Oxide Gold
Mineralization; Still Open in All Directions
VANCOUVER, B.C. – Liberty Gold Co rp. (LGD-TSX) (“Liberty Gold” or the “Company”)
is pleased to announce that drilling at Black Pine in southern Idaho, USA, continues to
return thick, high-grade interval s of Carlin-style oxide gold m ineralization. New results
from Discovery 2 expand the footprint of mineralization and con firm the Company thesis
that previous operators did not test laterally and to depth in this 12 square kilometer (“km2)
sedimentary rock-hosted gold system.
DISCOVERY 2 ZONE DRILL HIGHLIGHTS INCLUDE1:
Hole ID (Az, Dip)
(degrees)
From
(m)
To
(m)
Intercept
(m)
Au
(g/t)
Au
Cut‐Off
(g/t)
Hole
Length
(m)
Target Comments
LBP051 (187, -66) 131.1 172.2 41.1 2.51 0.2
including 137.2 144.8 7.6 6.69 1
and including 137.2 141.7 4.6 9.11 5
including 149.4 157.0 7.6 4.85 1
and including 152.4 155.4 3.0 8.52 5
LBP052 (35, -62) 74.7 96.0 21.3 0.61
and 102.1 126.5 24.4 0.34
and 202.7 231.6 29.0 0.28
and 269.7 309.4 39.6 0.77
LBP054 (52, -66) 39.6 68.6 29.0 0.31
and 248.4 349.0 100.6 0.94
incl 253.0 268.2 15.2 1.65
and incl 335.3 345.9 10.7 2.33
LBP055 (88, -68) 4.6 36.6 32.0 0.47
and 71.6 99.1 27.4 0.53
and 166.1 179.8 13.7 1.21
and 192 265.2 73.2 1.02
incl 192 208.8 16.8 2.39 1
LBP056 (245, -80) 199.6 225.6 25.9 0.48
and 231.6 271.3 39.6 1.89
incl 231.6 245.4 13.7 4.58 1
LPB057 (105, -74) 0.0 38.1 38.1 0.40
and 173.7 239.3 65.5 0.77
incl 179.8 195.1 15.2 1.68 1
0.2
Discovery 2
Zone
Ended in
Mineralization
0.2 342.9 Discovery 3
Zone?
205.7
300.2 Discovery 2
Zone
0.2
379.5 Discovery 2
Zone1
0.2 266.7 Discovery 2
Zone
285.0 Discovery 2
Zone
Ended in
Mineralization
1A number of mineralized intervals were omitted from this table for brevity. Please refer to the full table at
the link below for complete results. Grams per Tonne Gold abbreviated as “g/t Au”.
For a cross section and long sections of drill collars and traces for the current release,
please click
here: http://libertygold.ca/images/news/2019/october/BlackPine_NR10012019CS.pdf
For a map of drill collars and traces for the current release, please click
here: http://libertygold.ca/images/news/2019/october/BlackPine_NR10012019Map.pdf
For a complete table of drill results from all Liberty Gold drill holes at Black Pine, please
click here: http://libertygold.ca/images/news/2019/october/BP_Intercepts10012019.pdf
The Discovery 2 zone continues to deliver high grades along a n orth-northwest-striking
feeder fault corridor, as well as long intervals of approximate ly 1 g/t Au in the footwall
area to the east. Liberty Gold believes that this represents a small portion of the total
strike length of the Discovery 2 zone. The two zones are projected to converge near the
northern margin of and below the historic B Pit, with an averag e mined grade of 1.38 g/t
Au.
Key Points
The Discovery 2 Zone remains open in all directions. The target
stratigraphic interval in the initial 1 km2 Focus Area (the “Focus Area”) is
still largely untested. This interval also extends throughout most areas of
the 12 km gold system, which also awaits drill testing.
Drill holes LBP054 and LBP055 were drilled in the hangingwall of the
mineralized fault corridor represented by LBP043, representing a 50 to 100
m step-out to the east. Both returned long intercepts consisting of
approximately 100 m of gold mineralization averaging approximately 1 g/t
Au.
In total, LBP055 contains 164.4 m of gold mineralization at or above the
reportable cut-off (0.2 g/t Au) in the first 265.2 m of the hole.
Likewise, LBP054 contains 172.2 m of gold mineralization at or above the
reportable cut-off (0.2 g/t Au) in the first 345.9 m of the hole.
All highlight intercepts to date are oxide. Weighted average cyanide
solubility for the primary high-grade interval in LBP051 is 89%, for LBP055,
89%, and for LBP056, 91%.
Drill hole LBP052, located approximately 200 m northeast of the presently-
defined limits of the Discovery 2 Zone, may represent a new “Discovery 3”
zone of mineralization. Nearby historic RC hole 87-127 bottomed in 16.8 m
grading 2.42 g/t Au.
With the new drilling in the Discovery 2 zone, seven of the top 10 unmined
intercepts on the Black Pine Property have been drilled by Liberty Gold.
A core drill was added to the project on September 24 to obtain material for
metallurgical testing, specific gravity measurements, validation of RC drill
holes and structural, mineralogical and stratigraphic studies.
“We continue to be extremely happy with the results coming out of Black Pine,” stated
Moira Smith, VP, Exploration a nd Geoscience. “It is hard to ove rstate the potential
significance of the grades and widths of mineralization encountered in this drilling, given
that our target is a low capi tal and operating cost, bulk tonna ge, heap-leachable oxide
gold deposit. High-grade intercepts of greater than 1.0 g/t Au are hosted i n a relatively
flat-laying calcareous sandstone unit outcropping in the historic B Pit, A Basin and A Pit.
Our drilling to date is starting to connect these three areas u nder the ridge with zones of
continuous mineralization. His toric and Liberty Gold drilling demonstrates that the rock
overlying the high-grade zones als o contains broad areas of oxi de gold mineralization,
with intercepts typically ranging from 0.20 to 0.60 g/t Au. Bas ed on the results received
to date, we anticipate a low overall strip ratio. We intend to accelerate the drill program in
2020.”
DISCOVERY 1 ZONE NEW RESULTS
Results were also received for infill and step-out holes in the Discovery 1 zone. Additional
step out drilling will be carried out to extend this zone to the northwest, and to better define
the transition of this zone into historic B pit mineralization to the southeast. It is presently
approximately 150 to 200 m wide and 1 km long and may continue to the southeast on
the south side of the B pit complex, beyond the limits of the Focus Area.
DISCOVERY 1 ZONE DRILL HIGHLIGHTS INCLUDE:
Drilling in October will continue to focus on step-outs to the Discovery 1 and 2 zones, as
well as testing of two potential new zones located further to the east.
Hole ID (Az, Dip)
(degrees)
From
(m)
To
(m)
Intercept
(m)
Au
(g/t)
Au
Cut‐Off
(g/t)
Hole
Length
(m)
Target Comments
LBP024 (248, -64) 181.4 210.3 29.0 0.57 0.2 233.2 Discovery 1
LBP034 (68, -46) 45.7 71.6 25.9 0.35
and 144.8 169.2 24.4 0.39
and 245.4 266.7 21.3 1.11
including 245.4 251.5 6.1 3.19 1
and 294.1 301.8 7.6 1.80 0.2
including 295.7 300.2 4.6 2.56 1
and 307.8 313.9 6.1 0.62 0.2
LBP035 (100, -60) 164.6 179.8 15.2 0.69 0.2
including 175.3 178.3 3.0 1.94 1
and 213.4 227.1 13.7 1.18 0.2
including 221.0 225.6 4.6 2.68 1
LBP038 (0, -90) 210.3 248.4 38.1 0.57
and 294.1 313.9 19.8 0.87
LBP042 (094, -58) 32.0 51.8 19.8 0.39
and 102.1 109.7 7.6 0.62
and 240.8 263.7 22.9 1.53
including 242.3 259.1 16.8 1.88 1
0.2
0.2 300.2 Discovery 1
Zone
0.2 324.6 Discovery 1
Zone
288.0 Discovery 1
Zone
374.9 Discovery 1
Zone
ABOUT THE 2019 BLACK PINE DRILL PROGRAM
One Reverse Circulation (“RC”) drill was deployed on April 23, 2019, with a second drill
added on June 18, to drill an estimated 20,000 m in 80 to 100 h oles to provide a
comprehensive test of a portion of the core of an oxide gold system estimated at over 12
km2 in size. A diamond core drill was added on September 24 to drill an estimated 1600
m program. The drill program repre sents the culmination of over 2 years of intensive
compilation, modeling and interpretation of the complex geology of the project, as well as
a 20 month permitting process. The goal of the 2019 drill progr am is to carry out a
comprehensive test of the geological and mineralization model o ver a roughly one km 2
Focus Area encompassing a highly prospective location near the historic A and B historic
pits, in order to establish an d refine the model for use throug hout the project area.
Extensive data compilation, involving over 1800 historic drill holes, thousands of surface
soil and rock samples and 5 shallow pits, suggests that a large volume of rock under and
adjacent to zones of previously drill-tested and/or mined gold mineralization contains
highly prospective stratigraphy and favourable structural setti ngs for hosting Carlin-style
gold mineralization.
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 deposi t, 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 h istoric 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, at a n average grade of 0.63
g/t Au and average recovery of approximately 66%.
A virtual site tour and 3D model of Black Pine property, including details about the geology
and mineralization, is availabl e on the homepage of the Company ’s website,
www.libertygold.ca, and in a Technical Report also available on the Company website.
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 i nformation contained in the release is accurate.
Drill composites were calculated using a cut-off of 0.20 g/t. Drill intersections are reported as drilled thicknesses. True wid ths 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 100% 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 0.20 ppm an additional cyan ide 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, a nd 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 Geochemis try-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, Goldstrike and Kinsley Mountain, all of which are 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 la ws,
including statements regarding timing of the anticipated metall urgical results, potential quantity and/or grade of minerals, p otential size and expansion of a mineralized zone, proposed tim ing
of exploration and development plans. Forward‐looking informati on is often, but not always, identified by the use of words suc h as "seek", "anticipate", "plan", "continue", "planned", "expect",
"project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar expressions, or describes a "go al", or variation of such words and phrases or state that certa in actions,
events or results "may", "should", "could", "would", "might" or "will" be taken, occur or be achi eved. 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 t he statements are made including, among others, assumptions abo ut 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, accu racy of any 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 w ithin the control of Liberty Gold and there is no assurance the y
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 interpreta tion of results and/or the reliance on technical information pr ovided by third parties as related to the Company’s mineral pro perty
interests; changes in project parameters as plans continue to b e refined; current economic conditions; future prices of commod ities; possible variations in grade or recovery rates; the cost s 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; 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 27, 201 9 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 diffe r materially from those described in
forward‐looking information, there may be other factors that ca use actions, events or results n ot to be as anticipated, estima ted or intended. There can be no assurance that such informatio n
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 unless required by law