Exploration / Development > Resource-definition

Liberty lays down Goldstrike base

Liberty Gold (CN:LGD) has capped off three years of hard work with a maiden resource estimate at its Goldstrike oxide project in Utah, US.

Staff reporter

Exploration / Development > Resource-definition

Liberty lays down Goldstrike base

Liberty Gold (CN:LGD) has capped off three years of hard work with a maiden resource estimate at its Goldstrike oxide project in Utah, US.

Staff reporter

Liberty lays down Goldstrike base

Liberty looks to have plenty of room to grow the resource at Goldstrike

Liberty Gold

The Carlin-style gold project now has 865,000 ounces of gold grading 0.54g/t in the indicated resource category and 274,000 inferred ounces at 0.52g/t.

The resource captures drilling in the Historic Mine Trend, comprising the Dip Slope, Peg Leg and Western zones, as well as the Mineral Mountain area. It was based on 153,000m of historical and Liberty Gold drilling.

Mick Carew from Haywood Securities called the resource an "important first step", with both he and the company noting most of the Goldstrike property remained either unexplored or partially tested.

Large portions of the Dip Slip Zone, in particular, remain open in several directions for resource expansion.

The company plans to recommence drilling on March 1 with a focus on expanding the resource and testing new targets over the project area.

The historic Goldstrike mine, which is part of Liberty's property, operated from 1988-1994. It produced 209,000oz from 12 shallow pits at an average grade and metallurgical recovery of 1.2g/t and 75%, respectively.

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