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Liberty's Discovery 2 zone continues to deliver results

Canadian explorer Liberty Gold has reported more high-grade intercepts from its 2019 reverse circulation drilling campaign at wholly-owned Black Pine in southern Idaho, USA.
Liberty's Discovery 2 zone continues to deliver results Liberty's Discovery 2 zone continues to deliver results Liberty's Discovery 2 zone continues to deliver results Liberty's Discovery 2 zone continues to deliver results Liberty's Discovery 2 zone continues to deliver results

Liberty Gold has reported more gold intercepts from its 2019 exploration programme at Black Pine, Idaho

Staff Reporter

Latest results from the Carlin-style deposit are said to have extended mineralisation on all fronts of the Discovery 2 zone, increasing its size to 600m in a northeast-southwest direction. Drilling has also extended mineralisation to the west of previous drilling, merging with the Discovery 1 zone.

The latest results continue to deliver thick, high-grade oxide gold intercepts and highlight the directional structural control on the Discovery 2 zone. Several intercepts to the south of the Discovery 2 zone are said to have extended the structural corridor 200m to the south.

"Our 2019 drill programme at Black Pine was an unqualified success by any measure," said CEO Cal Everett. "We are now updating the geological model and planning a programme for 2020 that is over double the size of 2019s.

"With mineralisation in the Discovery 2 zone still open to the south, the Discovery 1 zone open to the northwest and southeast, and a host of other targets to test, we look forward to continued success and the release of a resource estimate in 2020."

The 2019 large-diameter core programme will aid the company in undertaking Phase 1 metallurgical column testing, specific gravity measurements, gold deportment studies, validating RC drilling data, and collecting structural, stratigraphic and alteration information.

Assays are pending from six further diamond core holes.

The company expects to get back in the field to resume drilling, weather permitting, in mid-March.

The 2020 drill programme is expected to continue building on the discovery in the focus area and to also test new targets.

The Vancouver-based company, part of the Oxygen Capital group, has more than doubled the 2020 exploration programme to 45,000m, using up to three drills, based on the consistency of the high-grade results in the initial focus area.

It had to date only drill-tested about 60% of the 1sq.km focus area out of a gold system believed to span 12sq.km.

Everett had previously stated the company was targeting a minimum resource of 2Moz before rolling all exploration information together for a maiden resource estimate for the project.

Liberty shares (TSX:LGD) has more than tripled in the past 12 months to C$1.12 last week, and traded at $1.05 on Tuesday, capitalising the junior at $244 million (US$188 million).