Liberty Gold Reports Additional High-Grade Drill Results, Including a New Discovery at its Black Pine Oxide Gold Project, Idaho 0.77 g/t Au over 65.5 m including 2.47 g/t Au over 10.7 m in LBP932 from the Discovery Zone
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News Release 23-14 July 24, 2023
Liberty Gold Reports Additional High-Grade Drill Results,
Including a New Discovery at its Black Pine Oxide Gold Project,
Idaho
0.77 g/t Au over 65.5 m including 2.47 g/t Au over 10.7 m in
LBP932 from the Discovery Zone
1.41 g/t Au over 30.5 m including 1.83 g/t Au over 13.7 m in
LBP926 from the Back Range Zone
0.86 g/t Au over 25.9 m including 1.80 g/t Au over 6.1 m in
LBP920 from the CD-Tallman Zone
VANCOUVER, B.C. – Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the
“Company”) is pleased to report the latest assay results from the 2023 Reverse Circulation (“RC”)
drill exploration program at its Black Pine Oxide Gold Project (“Black Pine”) in southeastern Idaho.
Liberty Gold continues to drill with three RC rigs in the main target areas and will be stepping out
to outlying target areas in Rangefront South and west M Zone in the coming months. A core rig
has been delivered to site and has begun drilling in the Back Range Zone as part of the ongoing
Metallurgical and Geotechnical programs.
Drill results reported in this release include follow-up results for drill holes reported in a previous
release (see release June 19, 2023). These new results include drill holes from the Discovery Zone,
Back Range Zone, and the CD-Tallman corridor.
RANGEFRONT SOUTH DISCOVERY
This release presents drill results from a single hole drilled into a target approximately two
kilometers south of the main Rangefront Zone. This hole was a stratigraphic test for the presence
of the receptive host rocks, termed the “Middle Plate” at Black Pine, in an area where the current
geologic model indicated this unit could be present, but had never been drilled. The Middle Plate
rocks were encountered at approximately 750 feet downhole, shallower than anticipated and
importantly were found to carry anomalous gold throughout the entire section including two
reportable intercepts of oxide gold:
• 0.37 grams per tonne (“g/t”) gold (“Au”) over 9.1 meters (“m”), and 0.31 g/t Au over 7.6 m
in drill hole LBP931
The discovery of these gold mineralized Middle Plate rocks, far to the south of any known gold
occurrence extends the gold system at Black Pine to a +8-k ilometer strike length. This result has
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heightened the exploration potential of the approximate five square kilometer area between the
furthest known extent of the Rangefront Zone and this new drill hole. Additional drilling is being
planned in the area stepping south from the Rangefront deposit area.
Jason Attew, President and CEO of Liberty Gold commented, “This new set of drill results
demonstrate a steadily growing resource base as well as significant upside exploration potential
with the discovery of gold-bearing Middle Plate rocks in a previously untested area. This discovery
extends the known mineralization far to the south and opens a large area for future drill testing in
an area significantly greater in size to the current Rangefront Zone.”
DISCOVERY HIGHWALL ZONE HIGHLIGHTS:
• 0.97 g/t Au over 33.5 m, including 2.36 g/t Au over 10.7 m in LBP911;
• 0.77 g/t Au over 65.5 m including 2.47 g/t Au over 10.7 m in hole LBP932.
Assays from eight additional drill holes from the main Discovery Zone have been received.
Ongoing evaluation of the current resource model and resource grade classes continues to drive
the infill drill program in the Discovery Zone with a goal of converting ounces currently classified
as inferred into the indicated category. Several areas for potentially adding ounces in the resource
model gaps within and along the margins of the resource pits have also been identified.
Additional drilling is underway in the main Discovery Zone with one RC drill rig.
DISCOVERY ZONE HIGHLIGHT TABLE*
Hole ID (Az, Dip) (degrees) From (m) To (m) Intercept
(m) Au (g/t) Au
Cut-Off
Hole Length
(m)
LBP903 (180, -50) 25.9 62.5 36.6 0.31 0.15
239.3
including 48.8 51.8 3.0 1.24 1.00
and 109.7 117.3 7.6 0.41 0.15
including 114.3 115.8 1.5 1.13 1.00
LBP911 (110, -63) 260.6 294.1 33.5 0.97 0.15
304.8
including 263.7 274.3 10.7 2.36 1.00
LBP917 (165, -45) 71.6 79.2 7.6 0.67 0.15 208.8
and 109.7 118.9 9.1 0.67
LBP932 (320, -50) 50.3 115.8 65.5 0.77 0.15
202.7
including 85.3 96.0 10.7 2.47 1.00
*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.
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BACK RANGE ZONE HIGHLIGHTS:
• 1.41 g/t Au over 30.5 m, including 1.83 g/t Au over 13.7 m in hole LBP926;
• 0.49 g/t Au over 30.5 and 0.65 g/t Au over 18.3 m including 1.60 g/t Au over 4.6 m in
hole LBP928.
Drill results from three additional RC drill holes in the Back Range Zone have been received with
results showing good lateral continuity of gold mineralization along the low angle structures that
extend to the east, west and north. This oxide gold mineralization is at or near surface and occurs
in multiple stacked zones , suggesting potential as early production feed to a future mining
operation.
One RC drill rig and the core drill rig are currently operating in the Back Range Zone. Drilling is
focused on extending zones of known gold mineralization and infilling gaps in the current resource
block model.
BACK RANGE ZONE HIGHLIGHT TABLE*
Hole ID (Az, Dip)
(degrees) From (m) To (m) Intercept
(m) Au (g/t) Au
Cut-Off
Hole Length
(m)
LBP926 (155, -65) 41.1 71.6 30.5 1.41 0.15
178.3
including 54.9 68.6 13.7 1.83 1.00
LBP928 (45, -55) 41.1 71.6 30.5 0.49 0.15
178.3
including 50.3 53.3 3.0 1.17 1.00
including 59.4 61.0 1.5 1.18
and 73.2 91.4 18.3 0.65 0.15
including 74.7 79.2 4.6 1.60 1.00
LBP930 (0, -45) 135.6 157.0 21.3 0.39 0.15 160.0
*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. Back Range lies 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.
CD-TALLMAN CORRIDOR HIGHLIGHTS:
• 0.86 g/t Au over 25.9 m including 1.80 g/t Au over 6.1 m beginning from surface in hole
LBP920;
• 0.42 g/t Au over 36.6 m including 1.61 g/t Au over 3.0 m in hole LBP902.
Assay results have been received from 19 RC holes drilled in the CD – Tallman Corridor area ,
including shallow testing of the historic waste rock ( dump) material covering the area . The
presence of near/at surface, high-grade oxide gold inside these waste dumps, as demonstrated by
the resul ts for hole LBP920 above, indicate the potential for early free -dig feed to a future
processing facility. Further, a number of holes drilled in the CD-Tallman area confirm the presence
of mineralization extending beyond the current resource pit.
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CD-TALLMAN CORRIDOR HIGHLIGHT TABLE*
Hole ID (Az, Dip)
(degrees) From (m) To (m) Intercept
(m) Au (g/t) Au Cut-
Off
Hole Length
(m)
LBP902 (0, -90) 0.0 9.1 9.1 0.62 0.15
152.4 and 18.3 54.9 36.6 0.42
including 35.1 38.1 3.0 1.61 1.00
LBP907 (0, -90) 6.1 24.4 18.3 0.55 0.15
74.7 including 19.8 21.3 1.5 3.14 1.00
and 39.6 44.2 4.6 0.49 0.15
LBP909 (170, -45) 0.0 10.7 10.7 0.30 0.15 111.3
and 19.8 42.7 22.9 0.38
LBP912 (0, -90) 3.0 10.7 7.6 0.25 0.15
86.9 and 24.4 41.1 16.8 0.51
including 33.5 36.5 3.0 1.14 1.00
LBP920 (0, -90) 0.0 25.9 25.9 0.86 0.15
61.0
including 1.5 7.6 6.1 1.80 1.00
including 15.2 18.3 3.0 1.15
and 53.3 59.4 6.1 0.29 0.15
LBP921 (0, -90) 27.4 39.6 12.2 0.41 0.15
50.3
including 30.5 32.0 1.5 1.46 1.00
LBP924 (0, -90) 0.0 21.3 21.3 0.44 0.15 68.6
*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.
For a map and cross sections showing locations of drill holes in this release click here:
https://libertygold.ca/images/news/2023/July/BlackPineMap_Section07192023.pdf
For a table showing complete drill results for current Liberty Gold drill results at Black Pine,
click here:
https://libertygold.ca/images/news/2023/July/BlackPineCurrentDrillResults07192023.pdf
KEY POINTS
• The discovery of mineralized Middle Plate rocks significantly south of know n
mineralization, opens up the exploration potential of lands to the south of the project
for future exploration, over an area several times greater in size than that of the
current Rangefront Zone.
• Current drilling is primarily focused on resource conversion and adding ounces with a
goal of defining more than three million ounces in an indicated category in an updated
resource.
• Results to date have confirmed a high potential for adding new ounces within and
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peripheral to the current resource pits.
• A full update to the resource model grade shells will begin later in the year to support
an updated resource model.
QUALIFIED PERSON
Peter Shabestari, P.Geo., Vice -President Exploration, 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 ope n-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.
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 0.15 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 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 parts per million 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 cen trifuged 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 m inerals,
the potential size of the mineralized zone, the proposed timing of exploration and development plans, the expansion and future
resource growth expected at Black Pine, expected capital costs at Black Pine, expected gold recoveries from the Black Pine mineralized
material, the potential upgrade of inferred mineral resources to measured and indicated mineral resources, the potential for future
additions to the current mineral resource estimate, the 2023 work program and the results thereof, the timing and results of any
resource updates and the planned development work at Black Pine. 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
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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, an d 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, the availability of drill rigs, successful resolution of disputes and anticipated costs and
expenditures. Many assumptions are based on factors and events that a re 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; the ti ming of the
publication of any updated resources; 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 f actors
discussed in the Annual Information Form of the Company dated March 28, 2023 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 resul ts 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 information in this news release, including any information incorporated by reference, and disclosure documents of Libert y Gold
that are filed with Canadian securities regulatory authorities concerning mineral properties have been prepared in accordance with the
requirements of securities laws in effect in Canada, which differ from the requirements of United States securities laws.
Without limiting the foregoing, these documents use the terms “measured resources”, “indicated resources”, “inferred resources” and
“probable mineral reserves”. Shareholders in the United States are advised that, while such terms are defined in and required by
Canadian securities laws, the United States Securities and Exchange Commission (the “SEC”) does not recognize them. Under United
States standards, mineralization may not be classified as a reserve unless the determination has been made that the mineraliz ation
could be economically and legally produced or extracted at the time the reserve determ ination is made. United States investors are
cautioned not to assume that all or any part of measured or indicated resources will ever be converted into reserves. Further, inferred
resources have a great amount of uncertainty as to their existence and as t o whether they can be mined legally or economically. It
cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher resource category. Under Canadian
rules, estimates of inferred mineral resources may not form the basis of feasibility, pre-feasibility or other technical reports or studies,
except in rare cases. Therefore, United States investors are also cautioned not to assume that all or any part of the inferred resources
exist, or that they can be mined legally or economically. Disclosure of contained ounces is permitted disclosure under Canadian
regulations; however, the SEC normally only permits issuers to report resources as in place tonnage and grade without reference to
unit measures. Accordingly, information concerning descriptions of mineralization and resources contained in these documents may
not be comparable to information made public by United States companies subject to the reporting and disclosure requirements of the
SEC.