Liberty Gold Corp. (LGD:TSX) announced in a news release it made a second gold mineralization discovery at Black Pine in Idaho, thereby expanding the size and potential of the gold system there.
Drill hole LBP023 encountered 1.78 grams per ton oxide gold over 48.8 meters (48.8m), a thick zone of high-grade mineralization. The hole was located about 240m to the northeast of hole LBP021, through which Liberty made its first discovery.
This new finding could be "the first drill hole in a second, parallel, high-grade gold-bearing structural corridor crossing a favorable, near-horizontal stratigraphic unit," the release noted. Or the two components could be part of a single, larger zone. To fully understand the significance of this new discovery vis-à-vis the size and grade, further drilling and assaying are needed, the company relayed.
LBP023 was the first hole to test a 500m wide gap between the previously reported northwest-trending corridor of gold mineralization and a high-grade gold mineralization zone below a historical pit to the east. Drilling in the gap area confirmed the presence of high-grade oxide gold mineralization there, with an intercept encountered 65m below the pit floor.
"Our understanding of the controls on gold mineralization continues to evolve with every hole that we drill," Moira Smith, Liberty's vice president of exploration and geoscience, said in the release.
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