Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQB) announced in a news release that ongoing drilling at Black Pine in Idaho continues to return thick, high-grade intervals of Carlin-style oxide gold mineralization.
New results are from the Discovery 2 zone. They "expand the footprint of mineralization and confirm the company thesis that previous operators did not test laterally and to depth in this 12 square kilometer sedimentary rock-hosted gold system," the release noted.
Recent drilling also returned further high grades along a north to northwest trending feeder fault corridor. Hole LBP051, for instance, returned 41.1 meters (41.1m) of 2.51 g/t gold, including 7.6m of 6.69 g/t gold, 4.6m of 9.11 g/t gold and 3m of 8.52 g/t gold.
Drilling also identified long intervals of about 1 gram per ton (1 g/t) gold to the west in the footwall area, which Liberty Gold believes constitute a small part of Discovery 2's strike length.
"It is hard to overstate the potential significance of the grades and widths of mineralization encountered in this drilling, given that our target is a low capital and operating cost, bulk tonnage, heap-leachable oxide gold deposit," Vice President of Exploration and Geoscience Moira Smith said in the release.
Liberty Gold states that it may have discovered another zone of mineralization, potentially Discovery 3, via hole LBP052, drilled about 200m northeast of the currently defined borders of Discovery 2, which remains open in all directions.
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