In an April 11 research note, analyst Mick Carew with Haywood Securities reported that Liberty Gold Corp. (LGD:TSX) released final data from drilling done at its Black Pine project, which "successfully confirmed and expanded historical results adjacent to historic pits and in established target areas. The results also demonstrate exploration potential beneath the limit of shallow historical drilling."
Carew reminded readers that Liberty began a 13-hole, 2,077 meters (2,077m) drill program last year to test five areas within a 12 square kilometer area that was targeted based on past findings. The new data were from 11 of 13 reverse circulation drill holes. Five holes were from near the North B extension pit, three were in the J anomaly, two were in the Hazel Pine target and one was as from near the South B extension pit.
Two highlight holes, Carew indicated, are LBP004 and LBP011. LBP004 showed:
- 24.4m grading 0.96 grams per ton (0.96 g/ton) gold from a downhole depth of 10.7m, including 1.5m grading 6.18 g/ton gold
- 9.1m grading 1.03 g/ton gold from a downhole depth of 51.8m, including 6.1m grading 1.28 g/ton gold
- 15.2m grading 0.54 g/ton gold from a downhole depth of 111.3m
LBP011 showed:
- 10.7m grading 2.37 g/ton gold from surface, including 9.1m grading 2.27 g/t gold
- 15.2m grading 0.65 g/ton gold from a downhole depth of 106.7m, including 4.6m grading 1.38 g/ton gold
Liberty plans to commence a phase 2 drill program at Black Pine in mid-June, which will "follow up on results from the A basin area, the J anomaly and the B pit extension as well as test other high priority targets," Carew explained.
The analyst noted that for comprehensive drill testing, the company needs a new plan of operations that will "open up access to the entire 12 square kilometer area," which is currently pending.
Upcoming catalysts for Liberty are drill results from another of its projects, Goldstrike, which are expected throughout the year, and advancement of Goldstrike to a preliminary economic assessment decision, which is likely to happen in Q2/18.
Haywood has a Buy rating and a CA$1 per share price target on Liberty Gold, whose stock is trading today at around CA$0.42 per share.
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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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Disclosures from Haywood Securities, Liberty Gold Corp., Radar Flash, April 11, 2018
Haywood Securities, or certain of its affiliated companies, may from time to time receive a portion of commissions or other fees derived from the trading or financings conducted by other affiliated companies in the covered security. Haywood analysts are salaried employees who may receive a performance bonus that may be derived, in part, from corporate finance income.
Haywood Securities, Inc., and Haywood Securities (USA) Inc. do have officers in common however, none of those common officers affect or control the ratings given a specific issuer or which issuer will be the subject of Research coverage. In addition, the firm does maintain and enforce written policies and procedures reasonably designed to prevent influence on the activities of affiliated analysts.
Analyst Certification: I, Mick Carew, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.
Important Disclosures
Of the companies included in the report the following Important Disclosures apply:
▪ Haywood Securities, Inc. has reviewed lead projects of Liberty Gold Corp. (LGD-T) and a portion of the expenses for this travel may have been reimbursed by the issuer.
▪ Haywood Securities Inc. or one of its subsidiaries has managed or co-managed or participated as selling group in a public offering of securities for Liberty Gold Corp. (LGD-T) in the past 12 months.
Other material conflict of interest of the research analyst of which the research analyst or Haywood Securities Inc. knows or has reason to know at the time of publication or at the time of public appearance: n/a.
