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Liberty discovers potential beyond mine trend

Liberty Gold (CN:LGD) says reconnaissance drilling has confirmed two new discoveries off the mine trend at its Goldstrike gold project in Utah, US, where it is working to establish a resource this year.

Staff reporter

Exploration / Development > Discovery

Liberty discovers potential beyond mine trend

Liberty Gold (CN:LGD) says reconnaissance drilling has confirmed two new discoveries off the mine trend at its Goldstrike gold project in Utah, US, where it is working to establish a resource this year.

Staff reporter

Liberty discovers potential beyond mine trend

Two discoveries plus 82.3m at 0.91g/t gold at Goldstrike

Amid the highlights in final results from its C$10.5 million (US$8.4 million) 2017 exploration programme, Liberty hit 82.3m at 0.91g/t gold, including 7.6m at 2.39g/t, at the Dip Slope zone.

In the two new areas, Liberty intercepted 24.4m at 1.46g/t at Fence Line and 12.2m at 0.78g/t at Jack's Camp.

Liberty is aiming to continue resource expansion drilling, continue metallurgical testing and advance the project to a PEA decision this year.

The historic Goldstrike mine is said to have produced 209,000oz of gold at an average grade of 1.2g/t from 12 shallow pits between 1988-1994.

Liberty said it had about C$11 million (US$8.8 million) in treasury after closing a $10.5 million bought deal financing two weeks ago at C42c per unit.

Its shares, which were trading above C60c a year ago, lost 1c yesterday to 41c.

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