Liberty Gold Reports Final Drill Results From 2021 Program VANCOUVER, British Columbia, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) ("Liberty Gold" or the "Company") is pleased to announce the final set of drill results from the 2021 Reverse Circulation (“RC”) drill program at the Goldstrike Oxide Gold Project in southwestern Utah (“Goldstrike”). Results continue to demonstrate the continuity, predictability, and strong mineralized thicknesses of the Goldstrike deposit. Drilling will resume with one RC rig and one core rig in March 2022.
Liberty Gold completed 15,574 metres (“m”) of RC drilling in 108 holes at Goldstrike in 2021, primarily to upgrade portions of the resource from Inferred to Indicated for use in future economic and engineering studies. A second objective was to test gaps in the Main Zone mineralization and down-dip extension around the margins of the deposit. All assay data have been received and are being incorporated into an updated mineralization model, and de-risking activities around land, water, engineering, and baseline studies are underway.
Drill results in this release include the area around the south, west and north side of the Basin Pit portion of the Main Zone, where a large gap in the drill pattern was tested for the first time. These results indicate the presence of a new zone of oxide gold mineralization along the projection of the Eocene unconformity, which hosts most of the gold mineralization at Goldstrike. Drilling in the historic Hassayampa Pit area followed up on previous drill intercepts, which revealed the presence of unconsolidated surficial material with high oxide gold grades. Hole PGS 844 in this area returned 15.2 m grading 0.84 grams per tonne gold (“g/t Au”) from surface.
Cal Everett, President and CEO of Liberty Gold stated, “We are pleased to wrap up last year’s exploration program on a high note, with excellent results from an undrilled part of the Main Zone. The gold mineralization we encountered is consistently shallow and high-grade, with exceptional cyanide solubility. The resource model, updated with tighter drilling, will serve as a solid foundation on which to base a prefeasibility study decision. Drilling will recommence in a few weeks to continue the same systematic exploration approach as last year.”
For a map and cross sections of the Goldstrike Property, including drill collars and traces for the current release, please click here:
https://libertygold.ca/images/news/2022/February/Goldstrike_NR02152022MapSection.pdf
For a complete table of drill results from all Liberty Gold drill holes at Goldstrike, please click here: https://libertygold.ca/images/news/2022/February/GS_Intercepts02152022.pdf
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.
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https://www.globenewswire.com/news-release/2022/02/15/2384982/0/en/Liberty-Gold-Reports-Final-Drill-Results-From-2021-Program-Commences-2022-Program-at-the-Goldstrike-Oxide-Gold-Deposit-Utah.html