Liberty Gold Files Technical Report on SEDAR for the Black Pine Oxide Gold Deposit, Great Basin, USA
Page 1 of 3
NEWS RELEASE 18-17 September 10, 2018
Liberty Gold Files Technical Report on SEDAR for the Black Pine Oxide Gold Deposit,
Great Basin, USA
VANCOUVER, B.C. – Liberty Gold Corp. (LGD-TSX) (“Liberty Gold” or the “Company”) is pleased
to announce it has filed on SEDAR a National Instrument (“NI”) 43-101 Technical Report for the
Black Pine Oxide Gold Deposit, Idaho, USA, entitled “Technical Report of the Black Pine Gold
Project, Cassia County, Idaho, USA”, effective July 23, 2018 and signed September 7, 2018 (the
“Report”).
The Report was prepared by Michael M. Gustin, CPG, of Mine Development Associates of Reno,
Nevada, Moira T. Smith, Ph.D., P.Geo., Vice President, Exploration and Geoscience, Liberty Gold
and William A. Lepore, M.Sc., P.Geo., Senior Project Geologist, Liberty Gold. Mr. Gustin is
independent of Liberty Gold Corp and all its subsidiaries. Mr. Gustin, Dr. Smith and Mr. Lepore are
“Qualified Persons” as defined by NI 43-101.
Black Pine, located in southeastern Idaho, is a past-producing, run-of-mine, oxide - heap leach
gold mine that contains a large, shallow, district-scale, Carlin-style gold system, similar in nature to
Liberty Gold’s Goldstrike Project.
The Company released results (See press releases dated January 5, 2018 and April 11, 2018) of a
late 2017 drill program designed to test five permitted target areas, four for verification and
possible expansion of the historical drill results and one to test the eastern edge of the main gold
target area where historical base metal mining occurred.
On the basis of this validation drill program, compilation of 1874 historic holes, past production
figures, new geological modeling and comparison to the size and grade of other nearby sediment-
hosted deposits, Liberty Gold is targeting a 2 to 4 million ounce oxide gold deposit [60-200 million
tonnes grading between 0.4 and 1.5 grams/tonne gold (“g/t Au”)] in the main area of alteration and
historic mining.*
* Potential quantity and grade is conceptual in nature. There has been insufficient
exploration to define a mineral resource and it is uncertain if further exploration will result in
the target being delineated as a mineral resource.
The Technical Report is available under the Company’s profile at www.sedar.com and will also be
available on the Company’s website at www.libertygold.ca.
About Black Pine
The Black Pine property is part of the Great Basin and located in southeastern Idaho and covers
31.7 km2. The mineralized zone was extensively drilled in the immediate pit areas, with mining
carried out by Pegasus Gold Corp. from 7 shallow pits over a 6-year period from 1992 to 1997 in a
run of mine heap leach operation. The mining operation produced 435,000 ounces of gold from ore
averaging 0.63 g/t Au, with a reported recovery of 65%.
Page 2 of 3
Liberty Gold is in possession of data from 1874 shallow holes, totaling 191,499 metres, and has
identified three broad target types for drill testing, including: 1) down-dip extensions of gold
mineralization from mined pits under shallow cover, as evidenced by data suggesting that 19% of
the historic holes bottomed in gold mineralization; 2) unmined bodies of mineralization identified by
previous operators and verified by Liberty’s drilling to date; and 3) undrilled, high priority gold-in-
soil anomalies and structural and stratigraphic targets.
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. 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
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 0.200 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 AAS. 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.
Some of the data presented herein, includes historic data developed by previous operators of the Black Pine property. Historic drill intersections are
reported as drilled thicknesses. True widths of individual mineralized intervals are unknown at this time, although trends in mineralization suggest
that true thicknesses range between 40 and 90% of drilled thicknesses. Production data is sourced from Pegasus internal yearly statements on
production and remaining Reserves and Mineralized material.Moira Smith, Ph.D., P.Geo, Vice President, Exploration and Geoscience, Liberty Gold,
and Qualified Person under NI 43-101, has, to the extent possible, verified that the historic data herein, including the results of drilling, sampling,
and assaying by previous operators, is reliable.
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 Goldstrike, Black Pine 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 laws, including statements that address potential quantity and/or grade of minerals and potential size of a
mineralized zone. 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 licences and permits and obtaining required licences and permits, labour stability, stability in market conditions,
availability of equipment, the availability of drill rigs, the release of an initial resource report, 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
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
Page 3 of 3
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 26, 2018 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 unless required by law.