Liberty Gold Corp. (LGD:TSX; LGDTF:OTCQB) discovered a third high-grade oxide gold zone, D-3, at its Black Pine project in Idaho, it announced in a news release.
The Vancouver-based company made this discovery in the first results of its 2020 drill program at Black Pine. The new D-3 zone lies near the previously discovered D-1 and D-2 zones and is in a stratigraphic unit that is underneath the host area of D-2's high-grade gold mineralization. In its model, Liberty Gold has this unit underlying the southern two-thirds of the Black Pine gold system.
Hole LBP127, which was sunk to the west of D-1 and D-2, encountered a thick zone of high-grade oxide gold below and laterally next to the historic B pit and showed gold grades exceeding 2 grams per ton (2 g/t).
"The intercept in LBP127 is the ninth best drill hole that Liberty Gold has drilled to date on a top-to-bottom, grade times thickness basis," President and CEO Cal Everett said in the release.
Another hole, LBP129, drilled 215 meters (215m) to the north of D-1 and D-2, returned 1.6 g/t gold over 29m, including 2.09 g/t gold over 19.8m.
The company noted that drilling within D-1 and D-2 confirmed that gold mineralization extended into the 400m long space between D-1's southeast end and the Tallman pit. It also confirmed that oxide gold mineralization exists where D-1 transitions into D-2. Finally, drilling extended the D-1 zone another 40m to the west.
Liberty Gold intends to drill D-3 just as it did D-1 and D-2 and expanded its current exploration program to 46,000 meters from 28,000 meters. It has two rigs dedicated to drilling D-3 and will focus a third, which it has been mobilized to the site, on drilling new targets.
[NLINSERT]Disclosure:
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.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Liberty Gold. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Liberty Gold, a company mentioned in this article.
